Elanor Commercial Property Fund (ASX: ECF) is an externally managed real estate investment trust that invests in Australian commercial office assets.
Price History & Performance
|Historical stock prices|
|Current Share Price||AU$1.10|
|52 Week High||AU$0.99|
|52 Week Low||AU$1.21|
|1 Month Change||-3.95%|
|3 Month Change||-4.78%|
|1 Year Change||7.35%|
|3 Year Change||n/a|
|5 Year Change||n/a|
|Change since IPO||-10.25%|
Recent News & Updates
Here's Why I Think Elanor Commercial Property Fund (ASX:ECF) Might Deserve Your Attention Today
Some have more dollars than sense, they say, so even companies that have no revenue, no profit, and a record of falling...
|ECF||AU REITs||AU Market|
Return vs Industry: ECF underperformed the Australian REITs industry which returned 21.5% over the past year.
Return vs Market: ECF underperformed the Australian Market which returned 20.2% over the past year.
Stable Share Price: ECF is less volatile than 75% of Australian stocks over the past 3 months, typically moving +/- 2% a week.
Volatility Over Time: ECF's weekly volatility (2%) has been stable over the past year.
About the Company
Elanor Commercial Property Fund (ASX: ECF) is an externally managed real estate investment trust that invests in Australian commercial office assets. It was listed on the ASX in 2019 and currently owns 7 office assets with a combined valuation of $374 million.
Elanor Commercial Property Fund Fundamentals Summary
|ECF fundamental statistics|
Is ECF overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|ECF income statement (TTM)|
|Cost of Revenue||AU$2.51m|
Last Reported Earnings
Jun 30, 2021
Next Earnings Date
|Earnings per share (EPS)||0.11|
|Net Profit Margin||78.08%|
How did ECF perform over the long term?See historical performance and comparison
9.2%Current Dividend Yield
Is Elanor Commercial Property Fund 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: ECF (A$1.1) is trading below our estimate of fair value (A$2.05)
Significantly Below Fair Value: ECF is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: ECF is poor value based on its PE Ratio (9.9x) compared to the Australian REITs industry average (9.6x).
PE vs Market: ECF is good value based on its PE Ratio (9.9x) compared to the Australian market (19.7x).
Price to Earnings Growth Ratio
PEG Ratio: ECF is poor value based on its PEG Ratio (8.9x)
Price to Book Ratio
PB vs Industry: ECF is overvalued based on its PB Ratio (1.4x) compared to the AU REITs industry average (1.2x).
How is Elanor Commercial Property Fund forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: ECF's forecast earnings growth (1.1% per year) is below the savings rate (1.9%).
Earnings vs Market: ECF's earnings (1.1% per year) are forecast to grow slower than the Australian market (11.9% per year).
High Growth Earnings: ECF's earnings are forecast to grow, but not significantly.
Revenue vs Market: ECF's revenue (3.4% per year) is forecast to grow slower than the Australian market (5.4% per year).
High Growth Revenue: ECF's revenue (3.4% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: ECF's Return on Equity is forecast to be low in 3 years time (9.7%).
How has Elanor Commercial Property Fund performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: ECF has a large one-off gain of A$5.6M impacting its June 30 2021 financial results.
Growing Profit Margin: ECF became profitable in the past.
Past Earnings Growth Analysis
Earnings Trend: ECF's earnings have grown significantly by 53.4% per year over the past 5 years.
Accelerating Growth: ECF has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.
Earnings vs Industry: ECF has become profitable in the last year, making it difficult to compare its past year earnings growth to the REITs industry (106.4%).
Return on Equity
High ROE: ECF's Return on Equity (12.8%) is considered low.
How is Elanor Commercial Property Fund's financial position?
Financial Position Analysis
Short Term Liabilities: ECF's short term assets (A$9.7M) exceed its short term liabilities (A$8.8M).
Long Term Liabilities: ECF's short term assets (A$9.7M) do not cover its long term liabilities (A$141.9M).
Debt to Equity History and Analysis
Debt Level: ECF's debt to equity ratio (58.4%) is considered high.
Reducing Debt: Insufficient data to determine if ECF's debt to equity ratio has reduced over the past 5 years.
Debt Coverage: ECF's debt is not well covered by operating cash flow (15.6%).
Interest Coverage: ECF's interest payments on its debt are well covered by EBIT (9.3x coverage).
What is Elanor Commercial Property Fund current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: ECF's dividend (9.16%) is higher than the bottom 25% of dividend payers in the Australian market (2.27%).
High Dividend: ECF's dividend (9.16%) is in the top 25% of dividend payers in the Australian market (5.33%)
Stability and Growth of Payments
Stable Dividend: Too early to tell whether ECF's dividend payments have been stable as they only just started paying a dividend.
Growing Dividend: Too early to tell if ECF's dividend payments are increasing as they only just started paying a dividend.
Current Payout to Shareholders
Dividend Coverage: At its current payout ratio (79.1%), ECF's payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: ECF's dividends in 3 years are forecast to be covered by earnings (89.8% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average board tenure
Mr. Glenn Norman Willis is a Co-Founder and Chief Executive Officer at Moss Capital Pty Limited. He serves as Chief Executive Officer and Managing Director of Elanor Funds Management Limited, manager of El...
Experienced Board: ECF's board of directors are considered experienced (7.3 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: ECF 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 37.7%.
Elanor Commercial Property Fund's employee growth, exchange listings and data sources
- Name: Elanor Commercial Property Fund
- Ticker: ECF
- Exchange: ASX
- Founded: 2016
- Industry: Office REITs
- Sector: Real Estate
- Market Cap: AU$308.115m
- Shares outstanding: 281.38m
- Website: https://www.elanorinvestors.com/ecf/
- Elanor Commercial Property Fund
- Level 38
- 259 George Street
- New South Wales
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/10/20 07:03|
|End of Day Share Price||2021/10/20 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.