Fundo Invest Imobiliario FII Btg Pactualorate Office Fund (BSP:BRCR11) PB Ratio: 0.48 (As of Jul. 16, 2026) — 27% Below Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

BSP:BRCR11 Fundo Invest Imobiliario FII Btg Pactual Corporate Office Fund BSP:BRCR11
73 GF Score
Price R$41.00
GF Value R$46.17
Valuation Modestly Undervalued
! 6 Warning Signs
View Full Analysis

What is Fundo Invest Imobiliario FII Btg Pactualorate Office Fund PB Ratio?

Fundo Invest Imobiliario FII Btg Pactualorate Office Fund BSP:BRCR11 +1.74% 73 PB Ratio is 0.48 as of Jul. 16, 2026, which is 27% below its 10-year median of 0.66. GuruFocus rates BSP:BRCR11 with a GF Score™ of 73/100 and a GF Value™ of R$46.17 (Modestly Undervalued). The stock has 6 warning signs investors should review. Among 922 REITs companies, Fundo Invest Imobiliario FII Btg Pactualorate Office Fund ranks better than 86.01% on this metric.

The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. As of today (2026-07-16), Fundo Invest Imobiliario FII Btg Pactualorate Office Fund's share price is R$41.00. Fundo Invest Imobiliario FII Btg Pactualorate Office Fund's Book Value per Share for the quarter that ended in Dec. 2025 was R$85.57. Hence, Fundo Invest Imobiliario FII Btg Pactualorate Office Fund's PB Ratio of today is 0.48.

Good Sign:

Fundo Invest Imobiliario FII Btg Pactual Corporate Office Fund stock PB Ratio (=0.48) is close to 10-year low of 0.45.

The historical rank and industry rank for Fundo Invest Imobiliario FII Btg Pactualorate Office Fund's PB Ratio or its related term are showing as below:

BSP:BRCR11' s PB Ratio Range Over the Past 10 Years
Min: 0.45   Med: 0.66   Max: 1.08
Current: 0.48

During the past 13 years, Fundo Invest Imobiliario FII Btg Pactualorate Office Fund's highest PB Ratio was 1.08. The lowest was 0.45. And the median was 0.66.

BSP:BRCR11's PB Ratio is ranked better than
86.01% of 922 companies
in the REITs industry
Industry Median: 0.86 vs BSP:BRCR11: 0.48

During the past 12 months, Fundo Invest Imobiliario FII Btg Pactualorate Office Fund's average Book Value Per Share Growth Rate was -0.70% per year. During the past 3 years, the average Book Value Per Share Growth Rate was -5.10% per year. During the past 5 years, the average Book Value Per Share Growth Rate was -5.00% per year. During the past 10 years, the average Book Value Per Share Growth Rate was -4.30% per year.

During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Fundo Invest Imobiliario FII Btg Pactualorate Office Fund was 0.40% per year. The lowest was -13.60% per year. And the median was -5.20% per year.

Back to Basics: PB Ratio


Fundo Invest Imobiliario FII Btg Pactualorate Office Fund  (BSP:BRCR11) PB Ratio Explanation

Unlike valuation ratios relative to the earning power such as PE Ratio, PE Ratio without NRI, PS Ratio, Price-to-Operating-Cash-Flow , or Price-to-Free-Cash-Flow, the PB Ratio measures the valuation of the stock relative to the underlying asset of the company.

The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.


Be Aware

Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.


Fundo Invest Imobiliario FII Btg Pactualorate Office Fund PB Ratio Related Terms


Fundo Invest Imobiliario FII Btg Pactualorate Office Fund PB Ratio Historical Data

* Premium members only.

The historical data trend for Fundo Invest Imobiliario FII Btg Pactualorate Office Fund's PB Ratio can be seen below:

* 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.

Fundo Invest Imobiliario FII Btg Pactualorate Office Fund PB Ratio Chart

Fundo Invest Imobiliario FII Btg Pactualorate Office Fund Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.69 0.59 0.60 0.48 0.54

Fundo Invest Imobiliario FII Btg Pactualorate Office Fund Quarterly Data
Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Dec25
PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.58 0.54 0.48 0.46 0.54

BSP:BRCR11 vs BXP, ARE, VNO: PB Ratio Comparison

For the REIT - Office subindustry, Fundo Invest Imobiliario FII Btg Pactualorate Office Fund's PB Ratio, along with its competitors' market caps and 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.


Fundo Invest Imobiliario FII Btg Pactualorate Office Fund PB Ratio vs REITs Industry

For the REITs industry and Real Estate sector, Fundo Invest Imobiliario FII Btg Pactualorate Office Fund's PB Ratio distribution charts can be found below:

* The bar in red indicates where Fundo Invest Imobiliario FII Btg Pactualorate Office Fund's PB Ratio falls into.


BSP:BRCR11
73GF Score
Fundo Invest Imobiliario FII Btg Pactual Corporate Office Fund BSP:BRCR11
PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Fundo Invest Imobiliario FII Btg Pactualorate Office Fund PB Ratio Calculation

The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.

Fundo Invest Imobiliario FII Btg Pactualorate Office Fund's PB Ratio for today is calculated as follows:

PB Ratio=Share Price/Book Value per Share (Q: Dec. 2025)
=41.00/85.57
=0.48

* 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.

It can also be calculated from the numbers for the whole company:

A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.

Frequently Asked Questions Learn more about PB Ratio →
What does a PB Ratio of 0.48 mean?
Fundo Invest Imobiliario FII Btg Pactualorate Office Fund (BSP:BRCR11) has a PB Ratio of 0.48 as of Jul. 16, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Fundo Invest Imobiliario FII Btg Pactualorate Office Fund and its competitors. This is 27% below median its historical median of 0.66. Over the past decade, Fundo Invest Imobiliario FII Btg Pactualorate Office Fund's PB Ratio has ranged from 0.45 to 1.08. According to the industry distribution chart, Fundo Invest Imobiliario FII Btg Pactualorate Office Fund ranks #129 out of 922 companies in the REITs industry, placing it in the top 14%.
Is Fundo Invest Imobiliario FII Btg Pactualorate Office Fund's PB Ratio too high?
Fundo Invest Imobiliario FII Btg Pactualorate Office Fund's current PB Ratio of 0.48 is 27% below median its 10-year median of 0.66. Over the past 10 years, this metric has ranged from a low of 0.45 to a high of 1.08. The REITs industry median PB Ratio is 0.86. Fundo Invest Imobiliario FII Btg Pactualorate Office Fund's value of 0.48 is 44.2% below this industry median. Based on the distribution chart, Fundo Invest Imobiliario FII Btg Pactualorate Office Fund ranks #129 out of 922 companies in the REITs industry, which is in the top quartile — a strong position relative to peers. Overall, Fundo Invest Imobiliario FII Btg Pactualorate Office Fund has a GF Score™ of 73/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Fundo Invest Imobiliario FII Btg Pactualorate Office Fund's PB Ratio compare to BXP and ARE?
According to the REITs industry distribution chart, Fundo Invest Imobiliario FII Btg Pactualorate Office Fund ranks #129 out of 922 companies for PB Ratio. This places Fundo Invest Imobiliario FII Btg Pactualorate Office Fund in the top 14% of its industry — outperforming the majority of peers. The industry median PB Ratio is 0.86. Fundo Invest Imobiliario FII Btg Pactualorate Office Fund's value of 0.48 is 44.2% below this benchmark. Historically, Fundo Invest Imobiliario FII Btg Pactualorate Office Fund's own PB Ratio has ranged from 0.45 to 1.08 over the past decade. While the company's 10-year median is 0.66 vs. the industry median of 0.86, Fundo Invest Imobiliario FII Btg Pactualorate Office Fund 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 PB Ratio for a REITs company?
The median PB Ratio among REITs companies is 0.86, based on 922 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Fundo Invest Imobiliario FII Btg Pactualorate Office Fund's current PB Ratio of 0.48 is 44.2% 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 PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Fundo Invest Imobiliario FII Btg Pactualorate Office Fund and its competitors. For the REITs industry, the median PB Ratio is 0.86 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Fundo Invest Imobiliario FII Btg Pactualorate Office Fund's current PB Ratio is 0.48, which is 27% below median its own 10-year median of 0.66. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fundo Invest Imobiliario FII Btg Pactualorate Office Fund stock overvalued right now?
Based on GuruFocus' analysis, Fundo Invest Imobiliario FII Btg Pactualorate Office Fund (BSP:BRCR11) is currently considered Modestly Undervalued. The stock's GF Value™ is R$46.17, compared to a current price of R$41.00 — trading 11.2% below its estimated fair value. The current PB Ratio is 0.48, which is 27% below median its 10-year median of 0.66 and 44.2% below the REITs industry median of 0.86. Fundo Invest Imobiliario FII Btg Pactualorate Office Fund's overall GF Score™ is 73/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Fundo Invest Imobiliario FII Btg Pactualorate Office Fund (BSP:BRCR11), the current PB Ratio is 0.48 as of Jul. 16, 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 Fundo Invest Imobiliario FII Btg Pactualorate Office Fund (BSP:BRCR11) Overvalued in 2026?

Based on GuruFocus' analysis, Fundo Invest Imobiliario FII Btg Pactualorate Office Fund stock appears to be undervalued. The current stock price of R$41.00 is trading 11.2% below its estimated GF Value™ of R$46.17. GuruFocus considers Fundo Invest Imobiliario FII Btg Pactualorate Office Fund to be Modestly Undervalued.

Key valuation signals for BSP:BRCR11:

  • PB Ratio: 0.48 (27% below median its 10-year median of 0.66)
  • GF Value™: R$46.17 vs. price of R$41.00 (11.2% below fair value)
  • GF Score™: 73/100 with 6 warning signs
  • Industry Position: 44.2% below the REITs median (#129 of 922)

No single metric tells the full story. See the BSP:BRCR11 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Fundo Invest Imobiliario FII Btg Pactualorate Office Fund Business Description

Industry Real EstateREITs
Address N/I PRAIA DE BOTAFOGO 501, 5th FLOOR, RIO DE JANEIRO, RJ, BRA, CEP 22250040
Fundo Invest Imobiliario FII Btg Pactual Corporate Office Fund seeks to invest in real estate developments by acquiring the following assets: commercial properties, completed or under construction, or other types of properties where commercial developments may be established, rights related to properties, for the purpose of sale, rent or lease, in addition to other Target Assets listed in the Fund's regulation.
73GF Score

Get the complete analysis for BSP:BRCR11

PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

R$41.00
Price
R$46.17
GF Value