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IRSA Propiedades Comerciales

Executive Summary

IRSA Propiedades Comerciales S.A. operates as an investment arm of IRSA Inversiones y Representaciones S.A. More Details


Snowflake Analysis

Fair value second-rate dividend payer.


Similar Companies

Share Price & News

How has IRSA Propiedades Comerciales's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: IRCP is more volatile than 75% of AR stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: IRCP's weekly volatility (7%) has been stable over the past year, but is still higher than 75% of AR stocks.


Market Performance


7 Day Return

-5.5%

IRCP

-0.6%

AR Real Estate

-4.0%

AR Market


1 Year Return

43.6%

IRCP

-24.3%

AR Real Estate

24.0%

AR Market

Return vs Industry: IRCP exceeded the AR Real Estate industry which returned -28.3% over the past year.

Return vs Market: IRCP exceeded the AR Market which returned 14.3% over the past year.


Shareholder returns

IRCPIndustryMarket
7 Day-5.5%-0.6%-4.0%
30 Day5.9%0.7%1.9%
90 Day-8.0%-5.5%-10.8%
1 Year68.7%43.6%-23.0%-24.3%24.7%24.0%
3 Year87.4%53.2%1.0%-4.9%30.3%22.1%
5 Year314.5%230.4%41.7%27.9%194.6%157.0%

Long-Term Price Volatility Vs. Market

How volatile is IRSA Propiedades Comerciales's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is IRSA Propiedades Comerciales undervalued compared to its fair value and its price relative to the market?

2.14x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: IRCP (ARS379) is trading above our estimate of fair value (ARS181.71)

Significantly Below Fair Value: IRCP is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: IRCP is good value based on its PE Ratio (2.1x) compared to the XS Real Estate industry average (17.2x).

PE vs Market: IRCP is good value based on its PE Ratio (2.1x) compared to the AR market (9.1x).


Price to Earnings Growth Ratio

PEG Ratio: IRCP's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: IRCP is good value based on its PB Ratio (0.6x) compared to the XS Real Estate industry average (1x).


Next Steps

Future Growth

How is IRSA Propiedades Comerciales forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

-115.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: IRCP's earnings are forecast to decline over the next 3 years (-115.7% per year).

Earnings vs Market: IRCP's earnings are forecast to decline over the next 3 years (-115.7% per year).

High Growth Earnings: IRCP's earnings are forecast to decline over the next 3 years.

Revenue vs Market: IRCP's revenue (31.6% per year) is forecast to grow faster than the AR market (21.8% per year).

High Growth Revenue: IRCP's revenue (31.6% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if IRCP's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has IRSA Propiedades Comerciales performed over the past 5 years?

-13.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: IRCP has a high level of non-cash earnings.

Growing Profit Margin: IRCP became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: IRCP's earnings have declined by 13% per year over the past 5 years.

Accelerating Growth: IRCP has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: IRCP has become profitable in the last year, making it difficult to compare its past year earnings growth to the Real Estate industry (10.9%).


Return on Equity

High ROE: IRCP's Return on Equity (27.8%) is considered high.


Next Steps

Financial Health

How is IRSA Propiedades Comerciales's financial position?


Financial Position Analysis

Short Term Liabilities: IRCP's short term assets (ARS6.5B) do not cover its short term liabilities (ARS10.2B).

Long Term Liabilities: IRCP's short term assets (ARS6.5B) do not cover its long term liabilities (ARS63.7B).


Debt to Equity History and Analysis

Debt Level: IRCP's debt to equity ratio (41.6%) is considered high.

Reducing Debt: IRCP's debt to equity ratio has reduced from 426.6% to 41.6% over the past 5 years.

Debt Coverage: IRCP's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: IRCP's interest payments on its debt are not well covered by EBIT (0.7x coverage).


Balance Sheet


Next Steps

Dividend

What is IRSA Propiedades Comerciales's current dividend yield, its reliability and sustainability?

1.24%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: IRCP's dividend (1.24%) is higher than the bottom 25% of dividend payers in the AR market (1.21%).

High Dividend: IRCP's dividend (1.24%) is low compared to the top 25% of dividend payers in the AR market (2.93%).


Stability and Growth of Payments

Stable Dividend: IRCP's dividend payments have been volatile in the past 10 years.

Growing Dividend: IRCP's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (2.7%), IRCP's dividend payments are thoroughly covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

0.7yrs

Average management tenure


CEO

Daniel Ricardo Elsztain (48 yo)

0.33

Tenure

Mr. Daniel Ricardo Elsztain served as a Chief Operating Officer at IRSA Propiedades Comerciales S.A.. since 2011 has been its General Manager of Real Estate Operations and Investments since September 22, 2...


Leadership Team

NamePositionTenureCompensationOwnership
Eduardo Sergio Elsztain
Chairman & President27.08yrsno data0.035%
ARS 16.6m
Daniel Ricardo Elsztain
CEO & GM of Real Estate Operations & Investments0.33yrno data0.017%
ARS 8.3m
Alejandro Gustavo Elsztain
Executive Vice Chairman18.08yrsno data0.63%
ARS 299.3m
Matias Ivan Gaivironsky
Chief Financial & Administrative Officer9.17yrsno data0.00079%
ARS 374.3k
Arnaldo Jawerbaum
Chief Operating Officer0.33yrno data0.0016%
ARS 753.3k
Jorge Cruces
Chief Investment Officer1.08yrsno data0.0048%
ARS 2.3m
Mariana de Elsztain
Secretaryno datano datano data

0.7yrs

Average Tenure

54yo

Average Age

Experienced Management: IRCP's management team is not considered experienced ( 0.7 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Eduardo Sergio Elsztain
Chairman & President27.08yrsno data0.035%
ARS 16.6m
Alejandro Gustavo Elsztain
Executive Vice Chairman18.08yrsno data0.63%
ARS 299.3m
Fernando Adrian Elsztain
Regular Director23.08yrsno datano data
Saul Zang
First Vice Chairman18.08yrsno datano data
Jose Daniel Abelovich
Member of Supervisory Committee16.08yrsno datano data
Leonardo Fabricio Fernández
Regular Director14.08yrsno datano data
Marcelo Hector Fuxman
Member of Supervisory Committee11.08yrsno datano data
Juan Manuel Quintana
Alternate Director18.08yrsno datano data
Marcos Oscar Barylka
Independent Director5.08yrsno datano data
Isela Angelica Costantini
Independent Director4.08yrsno datano data
Javier Kizlansky
Independent Director2.08yrsno datano data
Mariana Carmona
Non-Independent Regular Director0.33yrno datano data

15.1yrs

Average Tenure

59yo

Average Age

Experienced Board: IRCP's board of directors are seasoned and experienced ( 15.1 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

IRSA Propiedades Comerciales S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: IRSA Propiedades Comerciales S.A.
  • Ticker: IRCP
  • Exchange: BASE
  • Founded: 1889
  • Industry: Real Estate Operating Companies
  • Sector: Real Estate
  • Market Cap: AR$47.379b
  • Shares outstanding: 126.34m
  • Website: https://www.irsacp.com.ar

Number of Employees


Location

  • IRSA Propiedades Comerciales S.A.
  • Carlos Della Paolera 261
  • Piso 8
  • Buenos Aires
  • Capital Federal
  • C1001ADA
  • Argentina

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
IRCPBASE (Buenos Aires Stock Exchange)YesCommon StockARARSOct 1998
IRCPNasdaqGS (Nasdaq Global Select)SPON ADR EACH REPR ORDUSUSDNov 2000
A9PBST (Boerse-Stuttgart)SPON ADR EACH REPR ORDDEEURNov 2000

Biography

IRSA Propiedades Comerciales S.A. operates as an investment arm of IRSA Inversiones y Representaciones S.A. Alto Palermo S.A. engages in the ownership, acquisition, development, leasing, management, and op...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/02/24 22:06
End of Day Share Price2021/02/24 00:00
Earnings2020/12/31
Annual Earnings2020/06/30


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.