Abacus Property Group (ASX:ABP), is a diversified Australian REIT with an investment portfolio concentrated in the Office and Self Storage sectors.
Very undervalued established dividend payer.
Share Price & News
How has Abacus Property Group's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: ABP's share price has been volatile over the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: ABP underperformed the Australian REITs industry which returned -36.8% over the past year.
Return vs Market: ABP underperformed the Australian Market which returned -22.9% over the past year.
Price Volatility Vs. Market
How volatile is Abacus Property Group's share price compared to the market and industry in the last 5 years?
Simply Wall St News
3 weeks ago | Simply Wall StIs Abacus Property Group's (ASX:ABP) 6.7% ROE Strong Compared To Its Industry?
2 months ago | Simply Wall StAbacus Property Group (ASX:ABP) Shareholders Booked A 25% Gain In The Last Three Years
3 months ago | Simply Wall StDo Directors Own Abacus Property Group (ASX:ABP) Shares?
Is Abacus Property Group undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: ABP (A$2.25) is trading below our estimate of fair value (A$4.22)
Significantly Below Fair Value: ABP is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: ABP is good value based on its PE Ratio (8.7x) compared to the REITs industry average (9.2x).
PE vs Market: ABP is good value based on its PE Ratio (8.7x) compared to the Australian market (12.6x).
Price to Earnings Growth Ratio
PEG Ratio: ABP is good value based on its PEG Ratio (0.6x)
Price to Book Ratio
PB vs Industry: ABP is good value based on its PB Ratio (0.7x) compared to the AU REITs industry average (0.8x).
How is Abacus Property Group forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: ABP's forecast earnings growth (15.7% per year) is above the savings rate (1.1%).
Earnings vs Market: ABP's earnings (15.7% per year) are forecast to grow faster than the Australian market (9.7% per year).
High Growth Earnings: ABP's earnings are forecast to grow, but not significantly.
Revenue vs Market: ABP's revenue is expected to decline over the next 3 years (-3.3% per year).
High Growth Revenue: ABP's revenue is forecast to decline over the next 3 years (-3.3% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: ABP's Return on Equity is forecast to be low in 3 years time (6.1%).
How has Abacus Property Group performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: ABP has high quality earnings.
Growing Profit Margin: ABP's current net profit margins (49.4%) are lower than last year (70.3%).
Past Earnings Growth Analysis
Earnings Trend: ABP's earnings have grown by 7.4% per year over the past 5 years.
Accelerating Growth: ABP's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: ABP had negative earnings growth (-37%) over the past year, making it difficult to compare to the REITs industry average (1.7%).
Return on Equity
High ROE: ABP's Return on Equity (6.7%) is considered low.
How is Abacus Property Group's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Inventory Level: ABP has a low level of unsold assets or inventory.
Debt Coverage by Assets: ABP's debt is not covered by short term assets (assets are 0.3x debt).
Financial Institutions Analysis
Asset Level: ABP's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if ABP has a sufficient allowance for bad loans.
Low Risk Liabilities: ABP reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if ABP has an acceptable proportion of non-loan assets held.
Low Risk Deposits: ABP has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if ABP has an appropriate level of bad loans.
What is Abacus Property Group's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: ABP's dividend (8.4%) is higher than the bottom 25% of dividend payers in the Australian market (3.35%).
High Dividend: ABP's dividend (8.4%) is low compared to the top 25% of dividend payers in the Australian market (8.5%).
Stability and Growth of Payments
Stable Dividend: ABP's dividends per share have been stable in the past 10 years.
Growing Dividend: ABP's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: At its current payout ratio (80.3%), ABP's payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: ABP's dividends in 3 years are forecast to be thoroughly covered by earnings (0.1% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Steven Sewell (53yo)
Mr. Steven Craig Sewell, BSc, has been Managing Director of Macquarie Infrastructure and Real Assets (Europe) Limited since July 02, 2018. He has been Managing Director and Director of Abacus Property Grou ...
CEO Compensation Analysis
Compensation vs Market: Steven's total compensation ($USD1.20M) is about average for companies of similar size in the Australian market ($USD1.08M).
Compensation vs Earnings: Steven's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
|MD & Director||1.92yrs||AU$1.96m||0.018% A$280.2k|
|CFO & Company Secretary||7.33yrs||AU$1.05m||0.049% A$748.1k|
|Director of Property Investment||2.75yrs||AU$940.33k||0.065% A$993.8k|
|Head of Investor Relations||no data||no data||no data|
|Head of Legal||1.92yrs||no data||no data|
|Executive General Manager of Corporate Development||1.58yrs||no data||no data|
|Director of Property Developments||12yrs||AU$954.32k||0.032% A$488.2k|
|Director of Self-Storage||no data||no data||no data|
|General Manager of Corporate Development||1.58yrs||no data||no data|
Experienced Management: ABP's management team is not considered experienced ( 1.9 years average tenure), which suggests a new team.
|MD & Director||1.92yrs||AU$1.96m||0.018% A$280.2k|
|Non-Executive Director||1.25yrs||AU$66.60k||0.0031% A$46.7k|
|Non-Executive Director||0.50yr||no data||0.0046% A$69.9k|
|Non-Executive Director||2.5yrs||AU$130.20k||0.0031% A$46.6k|
|Lead Independent Director||0.58yr||AU$82.69k||0.0054% A$81.6k|
Experienced Board: ABP's board of directors are not considered experienced ( 0.6 years average tenure), which suggests a new board.
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: ABP insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 4.9%.
Abacus Property Group's company bio, employee growth, exchange listings and data sources
- Name: Abacus Property Group
- Ticker: ABP
- Exchange: ASX
- Founded: 1996
- Industry: Diversified REITs
- Sector: Real Estate
- Market Cap: AU$1.523b
- Shares outstanding: 653.50m
- Website: https://www.abacusproperty.com.au
Number of Employees
- Abacus Property Group
- Australia Square
- Level 34
- New South Wales
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|ABP||ASX (Australian Securities Exchange)||Yes||Stapled Securities||AU||AUD||Nov 2002|
|ABP||CHIA (Chi-X Australia)||Yes||Stapled Securities||AU||AUD||Nov 2002|
|EZO||MUN (Boerse Muenchen)||Yes||Stapled Securities||DE||EUR||Nov 2002|
|EZO||DB (Deutsche Boerse AG)||Yes||Stapled Securities||DE||EUR||Nov 2002|
Abacus Property Group (ASX:ABP), is a diversified Australian REIT with an investment portfolio concentrated in the Office and Self Storage sectors. We invest capital in real estate opportunities to deliver superior long term returns and maximise security holder value. Abacus’ key focus is to be a strong asset backed, annuity style business model where capital is directed towards assets that provide potential for enhanced income growth and ultimately create value. Our people, market insight and repositioning capability together with strategic partnering are the key enablers of our strategy. Abacus was established in 1996 and listed on the ASX in 2002. As at 30 June 2019, it is included in the S&P/ASX 200 index and has a market capitalisation of $2.4 billion, with a single corporate office in Sydney, Australia. Abacus is comprised of Abacus Group Holdings Limited (the nominated parent entity), Abacus Group Projects Limited and Abacus Storage Operations Limited, Abacus Trust, Abacus Income Trust and Abacus Storage Property Trust. The shares and units in these entities are stapled together and trade as one security in ABP.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/03/30 10:37|
|End of Day Share Price||2020/03/30 00:00|
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.