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BSP:HGBS11's Cyclically Adjusted PB Ratio is ranked better than 64% of 550
companies
in the REITs industry
Industry Median: 0.77
vs BSP:HGBS11: 0.59
The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.
Hedge Brasil Shopping Fundo DE Investimento Imobiliario (BSP:HGBS11) Cyclically Adjusted PB Ratio Explanation
Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.
If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.
Hedge Brasil Shopping Fundo DE Investimento Imobiliario Cyclically Adjusted PB Ratio Related Terms
Hedge Brasil Shopping Fundo DE Investimento Imobiliario Cyclically Adjusted PB Ratio Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Hedge Brasil Shopping Fundo DE Investimento Imobiliario Cyclically Adjusted PB Ratio Chart
Hedge Brasil Shopping Fundo DE Investimento Imobiliario Annual Data
BSP:HGBS11 vs SPG, O, KIM: Cyclically Adjusted PB Ratio Comparison
For the REIT - Retail subindustry, Hedge Brasil Shopping Fundo DE Investimento Imobiliario's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Hedge Brasil Shopping Fundo DE Investimento Imobiliario Cyclically Adjusted PB Ratio vs REITs Industry
Hedge Brasil Shopping Fundo DE Investimento Imobiliario Cyclically Adjusted PB Ratio Calculation
Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.
The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.
What does a Cyclically Adjusted PB Ratio of 0.59 mean?
Hedge Brasil Shopping Fundo DE Investimento Imobiliario (BSP:HGBS11) has a Cyclically Adjusted PB Ratio of 0.59 as of Sep. 15, 2026. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Hedge Brasil Shopping Fundo DE Investimento Imobiliario and its competitors. This is 16% below median its historical median of 0.70. Over the past decade, Hedge Brasil Shopping Fundo DE Investimento Imobiliario's Cyclically Adjusted PB Ratio has ranged from 0.51 to 1.40. According to the industry distribution chart, Hedge Brasil Shopping Fundo DE Investimento Imobiliario ranks #198 out of 550 companies in the REITs industry, placing it in the top 36%.
Is Hedge Brasil Shopping Fundo DE Investimento Imobiliario's Cyclically Adjusted PB Ratio too high?
Hedge Brasil Shopping Fundo DE Investimento Imobiliario's current Cyclically Adjusted PB Ratio of 0.59 is 16% below median its 10-year median of 0.70. Over the past 10 years, this metric has ranged from a low of 0.51 to a high of 1.40. The REITs industry median Cyclically Adjusted PB Ratio is 0.77. Hedge Brasil Shopping Fundo DE Investimento Imobiliario's value of 0.59 is 23.4% below this industry median. Based on the distribution chart, Hedge Brasil Shopping Fundo DE Investimento Imobiliario ranks #198 out of 550 companies in the REITs industry, which is above the industry midpoint. Overall, Hedge Brasil Shopping Fundo DE Investimento Imobiliario has a GF Score™ of 65/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Hedge Brasil Shopping Fundo DE Investimento Imobiliario's Cyclically Adjusted PB Ratio compare to SPG and O?
According to the REITs industry distribution chart, Hedge Brasil Shopping Fundo DE Investimento Imobiliario ranks #198 out of 550 companies for Cyclically Adjusted PB Ratio. This puts Hedge Brasil Shopping Fundo DE Investimento Imobiliario in the upper half of its industry. The industry median Cyclically Adjusted PB Ratio is 0.77. Hedge Brasil Shopping Fundo DE Investimento Imobiliario's value of 0.59 is 23.4% below this benchmark. Historically, Hedge Brasil Shopping Fundo DE Investimento Imobiliario's own Cyclically Adjusted PB Ratio has ranged from 0.51 to 1.40 over the past decade. While the company's 10-year median is 0.70 vs. the industry median of 0.77, Hedge Brasil Shopping Fundo DE Investimento Imobiliario has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PB Ratio for a REITs company?
The median Cyclically Adjusted PB Ratio among REITs companies is 0.77, based on 550 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Hedge Brasil Shopping Fundo DE Investimento Imobiliario's current Cyclically Adjusted PB Ratio of 0.59 is 23.4% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PB Ratio mean?
A high Cyclically Adjusted PB Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Hedge Brasil Shopping Fundo DE Investimento Imobiliario and its competitors. For the REITs industry, the median Cyclically Adjusted PB Ratio is 0.77 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hedge Brasil Shopping Fundo DE Investimento Imobiliario's current Cyclically Adjusted PB Ratio is 0.59, which is 16% below median its own 10-year median of 0.70. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hedge Brasil Shopping Fundo DE Investimento Imobiliario stock overvalued right now?
Based on GuruFocus' analysis, Hedge Brasil Shopping Fundo DE Investimento Imobiliario (BSP:HGBS11) is currently considered Fairly Valued. The stock's GF Value™ is R$17.31, compared to a current price of R$18.58 — trading 7.3% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 0.59, which is 16% below median its 10-year median of 0.70 and 23.4% below the REITs industry median of 0.77. Hedge Brasil Shopping Fundo DE Investimento Imobiliario's overall GF Score™ is 65/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PB Ratio calculated?
Cyclically Adjusted PB Ratio is calculated from a company's financial statements. For Hedge Brasil Shopping Fundo DE Investimento Imobiliario (BSP:HGBS11), the current Cyclically Adjusted PB Ratio is 0.59 as of Sep. 15, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Hedge Brasil Shopping Fundo DE Investimento Imobiliario (BSP:HGBS11) Overvalued in 2026?
Based on GuruFocus' analysis, Hedge Brasil Shopping Fundo DE Investimento Imobiliario stock appears to be overvalued.
The current stock price of R$18.58 is trading 7.3% above its estimated GF Value™ of R$17.31.
GuruFocus considers Hedge Brasil Shopping Fundo DE Investimento Imobiliario to be Fairly Valued.
Key valuation signals for BSP:HGBS11:
Cyclically Adjusted PB Ratio: 0.59 (16% below median its 10-year median of 0.70)
GF Value™: R$17.31 vs. price of R$18.58 (7.3% above fair value)
Industry Position: 23.4% below the REITs median (#198 of 550)
No single metric tells the full story. See the BSP:HGBS11 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hedge Brasil Shopping Fundo DE Investimento Imobiliario is a Brazilian real estate investment fund with objective to obtain capital appreciation by acquisition of interests in shopping centers. The objective of the Fund is the acquisition for commercial exploitation of commercial real estate projects, which are duly built or are subject to renovations, improvements or expansions, through the acquisition of portions and/or the entirety of real estate projects, directly or indirectly, through the assets provided for in the Regulation, for subsequent sale, rental or leasing, including assets and rights related to them.
65GF Score
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