WDP Warehousing & Distribution De Pauw: Warehouses with Brains, intrinsic value

Belgian real estate/warehousing company with a fairly recent dual listing in Amsterdam. https://www.wdp.eu/investors/key-figures

The track record is impressive, also considering that this chart does not include dividends.

Current dividend: EUR 4,80/Price EUR 117 = 4%

This is the first time I have looked at the company. The Graham Value is the geometric average of 1,5 x NAV and 15 x Earnings per Share. If you take 1x book, the Graham Value would be lower.