ASX:APD

Stock Analysis Report

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Executive Summary

APN Property Group Limited operates as a real estate investment fund manager in Australia and internationally. More Details


Snowflake Analysis

Flawless balance sheet 6 star dividend payer.

Share Price & News

How has APN Property Group's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: APD is less volatile than 75% of Australian stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: APD's weekly volatility (4%) has been stable over the past year.


Market Performance


7 Day Return

0%

APD

1.6%

AU REITs

-1.7%

AU Market


1 Year Return

-15.9%

APD

-12.7%

AU REITs

10.5%

AU Market

Return vs Industry: APD underperformed the Australian REITs industry which returned -12.7% over the past year.

Return vs Market: APD underperformed the Australian Market which returned 10.5% over the past year.


Shareholder returns

APDIndustryMarket
7 Day0%1.6%-1.7%
30 Day0%-0.7%-0.3%
90 Day-4.3%-5.3%2.7%
1 Year-10.9%-15.9%-9.1%-12.7%14.1%10.5%
3 Year53.2%30.6%28.8%11.7%29.7%14.0%
5 Year115.5%35.4%44.5%12.8%62.5%31.3%

Long-Term Price Volatility Vs. Market

How volatile is APN Property Group's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is APN Property Group undervalued compared to its fair value and its price relative to the market?

36.6%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: APD (A$0.56) is trading below our estimate of fair value (A$0.88)

Significantly Below Fair Value: APD is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: APD is poor value based on its PE Ratio (39.8x) compared to the AU REITs industry average (17.6x).

PE vs Market: APD is poor value based on its PE Ratio (39.8x) compared to the Australian market (19.6x).


Price to Earnings Growth Ratio

PEG Ratio: APD is poor value based on its PEG Ratio (52.6x)


Price to Book Ratio

PB vs Industry: APD is overvalued based on its PB Ratio (1.5x) compared to the AU REITs industry average (1x).


Next Steps

Future Growth

How is APN Property Group forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

0.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: APD's forecast earnings growth (0.8% per year) is below the savings rate (2%).

Earnings vs Market: APD's earnings (0.8% per year) are forecast to grow slower than the Australian market (15.4% per year).

High Growth Earnings: APD's earnings are forecast to grow, but not significantly.

Revenue vs Market: APD's revenue (7.2% per year) is forecast to grow faster than the Australian market (5.6% per year).

High Growth Revenue: APD's revenue (7.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: APD's Return on Equity is forecast to be low in 3 years time (9.8%).


Next Steps

Past Performance

How has APN Property Group performed over the past 5 years?

19.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: APD has high quality earnings.

Growing Profit Margin: APD's current net profit margins (16.1%) are lower than last year (92.7%).


Past Earnings Growth Analysis

Earnings Trend: APD's earnings have grown by 19.4% per year over the past 5 years.

Accelerating Growth: APD's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: APD had negative earnings growth (-83%) over the past year, making it difficult to compare to the REITs industry average (-3.1%).


Return on Equity

High ROE: APD's Return on Equity (6.9%) is considered low.


Next Steps

Financial Health

How is APN Property Group's financial position?


Financial Position Analysis

Short Term Liabilities: APD's short term assets (A$26.8M) exceed its short term liabilities (A$21.5M).

Long Term Liabilities: APD's short term assets (A$26.8M) exceed its long term liabilities (A$1.9M).


Debt to Equity History and Analysis

Debt Level: APD's debt to equity ratio (6.4%) is considered satisfactory.

Reducing Debt: APD's debt to equity ratio has reduced from 18.7% to 6.4% over the past 5 years.

Debt Coverage: APD's debt is well covered by operating cash flow (124.6%).

Interest Coverage: APD's interest payments on its debt are well covered by EBIT (38.2x coverage).


Balance Sheet


Next Steps

Dividend

What is APN Property Group current dividend yield, its reliability and sustainability?

5.86%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: APD's dividend (5.86%) is higher than the bottom 25% of dividend payers in the Australian market (2.11%).

High Dividend: APD's dividend (5.86%) is in the top 25% of dividend payers in the Australian market (5.5%)


Stability and Growth of Payments

Stable Dividend: APD's dividends per share have been stable in the past 10 years.

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


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (11.4%), APD's dividend payments are thoroughly covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: APD's dividends in 3 years are forecast to be covered by earnings (94.7% payout ratio).


Next Steps

Management

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

2.8yrs

Average management tenure


CEO

Tim Slattery

4.17yrs

Tenure

AU$514,676

Compensation

Mr. Timothy Slattery, also known as Tim, B.Sc., L.L.B. (Hons), M.B.A. (London Business School) has been the Chief Executive Officer of APN Property Group Limited since January 1, 2017 and served as its Man...


CEO Compensation Analysis

Compensation vs Market: Tim's total compensation ($USD401.56K) is above average for companies of similar size in the Australian market ($USD295.47K).

Compensation vs Earnings: Tim's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Timothy Slattery
CEO & Executive Director4.17yrsAU$514.68k0.19%
A$ 320.0k
Joseph De Rango
Chief Financial Officer1.5yrsAU$478.04k0.00086%
A$ 1.4k
Chantal Churchill
Company Secretary and Head of Risk & Complianceno dataAU$247.31k0.00084%
A$ 1.4k
Simone Newman
Head of Distribution & Marketingno datano datano data
Michael Doble
Chief Investment Officer of Real Estate Securities12.83yrsAU$348.83kno data
Pete Morrissey
Chief Executive Officer of Real Estate Securitiesno datano datano data
Alex Abell
Head of Direct Property & Fund Manager at APN Industria REIT1.08yrsno datano data

2.8yrs

Average Tenure

Experienced Management: APD's management team is considered experienced (2.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Timothy Slattery
CEO & Executive Director4.17yrsAU$514.68k0.19%
A$ 320.0k
Howard Brenchley
Independent Non-Executive Director23.17yrsAU$181.44kno data
Christopher Aylward
Non-Executive Chairman25.17yrsAU$69.91k26.14%
A$ 43.6m
Clive Appleton
Independent Non-Executive Director16.92yrsAU$82.22k0.29%
A$ 489.5k
Danielle Carter
Independent Non-Executive Director1yrAU$23.89k0.042%
A$ 69.2k

16.9yrs

Average Tenure

Experienced Board: APD's board of directors are seasoned and experienced ( 16.9 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: APD insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 6.1%.


Top Shareholders

Company Information

APN Property Group Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: APN Property Group Limited
  • Ticker: APD
  • Exchange: ASX
  • Founded: 1996
  • Industry: Diversified REITs
  • Sector: Real Estate
  • Market Cap: AU$166.817m
  • Shares outstanding: 311.81m
  • Website: https://www.apngroup.com.au

Location

  • APN Property Group Limited
  • 101 Collins Street
  • Level 30
  • Melbourne
  • Victoria
  • 3000
  • Australia

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
APDASX (Australian Securities Exchange)YesStapled SecuritiesAUAUDJun 2005
APNL.FOTCPK (Pink Sheets LLC)YesStapled SecuritiesUSUSDJun 2005
APDCHIA (Chi-X Australia)YesStapled SecuritiesAUAUDJun 2005

Biography

APN Property Group Limited operates as a real estate investment fund manager in Australia and internationally. It operates through Real Estate Securities Funds, Industrial Real Estate Fund, Direct Real Est...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/03/05 07:04
End of Day Share Price2021/03/05 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.