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ERF

Elanor Retail Property FundASX:ERF Stock Report

Market Cap

AU$137.3m

7D

0.5%

1Y

22.2%

Updated

17 Oct, 2021

Data

Company Financials +
ERF fundamental analysis
Snowflake Score
Valuation2/6
Future Growth3/6
Past Performance0/6
Financial Health3/6
Dividends4/6

ERF Overview

Elanor Retail Property Fund (ASX:ERF) is an externally managed listed real estate investment fund investing in Australian retail property.

Price History & Performance

Summary of all time highs, changes and price drops for Elanor Retail Property Fund
Historical stock prices
Current Share PriceAU$1.08
52 Week HighAU$0.86
52 Week LowAU$1.25
Beta0.88
1 Month Change-1.38%
3 Month Change0.47%
1 Year Change22.16%
3 Year Change-15.35%
5 Year Changen/a
Change since IPO-20.37%

Recent News & Updates

Shareholder Returns

ERFAU REITsAU Market
7D0.5%1.5%0.9%
1Y22.2%20.9%20.2%

Return vs Industry: ERF exceeded the Australian REITs industry which returned 20.9% over the past year.

Return vs Market: ERF exceeded the Australian Market which returned 20.2% over the past year.

Price Volatility

Is ERF's price volatile compared to industry and market?
ERF volatility
ERF Beta0.88
Industry Beta0.86
Market Beta1

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

Volatility Over Time: ERF's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
n/an/aGlenn Willishttps://www.elanorinvestors.com/ERF

Elanor Retail Property Fund (ASX:ERF) is an externally managed listed real estate investment fund investing in Australian retail property. The fund invests in high investment quality, non-discretionary retail based neighborhood and sub-regional shopping centers. The strategy of Elanor Retail Property Fund is to acquire assets that provide strong income and capital growth potential.

Elanor Retail Property Fund Fundamentals Summary

How do Elanor Retail Property Fund's earnings and revenue compare to its market cap?
ERF fundamental statistics
Market CapAU$137.29m
Earnings (TTM)AU$3.72m
Revenue (TTM)AU$21.89m

36.9x

P/E Ratio

6.3x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
ERF income statement (TTM)
RevenueAU$21.89m
Cost of RevenueAU$2.17m
Gross ProfitAU$19.72m
ExpensesAU$16.00m
EarningsAU$3.72m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.029
Gross Margin90.11%
Net Profit Margin16.99%
Debt/Equity Ratio44.5%

How did ERF perform over the long term?

See historical performance and comparison

Dividends

8.1%

Current Dividend Yield

71%

Payout Ratio

Valuation

Is Elanor Retail Property Fund undervalued compared to its fair value and its price relative to the market?

28.5%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: ERF (A$1.08) is trading below our estimate of fair value (A$1.5)

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


Price To Earnings Ratio

PE vs Industry: ERF is poor value based on its PE Ratio (36.9x) compared to the Australian REITs industry average (9.4x).

PE vs Market: ERF is poor value based on its PE Ratio (36.9x) compared to the Australian market (19.8x).


Price to Earnings Growth Ratio

PEG Ratio: ERF is poor value based on its PEG Ratio (1.2x)


Price to Book Ratio

PB vs Industry: ERF's PB Ratio (1.2x) is in line with the AU REITs industry average.


Future Growth

How is Elanor Retail Property Fund forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

29.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ERF's forecast earnings growth (29.6% per year) is above the savings rate (1.9%).

Earnings vs Market: ERF's earnings (29.6% per year) are forecast to grow faster than the Australian market (11.8% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: ERF's revenue is expected to decline over the next 3 years (-13.2% per year).

High Growth Revenue: ERF's revenue is forecast to decline over the next 3 years (-13.2% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ERF's Return on Equity is forecast to be low in 3 years time (5.9%).


Past Performance

How has Elanor Retail Property Fund performed over the past 5 years?

-6.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ERF has a large one-off gain of A$1.6M impacting its June 30 2021 financial results.

Growing Profit Margin: ERF's current net profit margins (17%) are lower than last year (30.5%).


Past Earnings Growth Analysis

Earnings Trend: ERF's earnings have declined by 6.4% per year over the past 5 years.

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

Earnings vs Industry: ERF had negative earnings growth (-55.2%) over the past year, making it difficult to compare to the REITs industry average (106.4%).


Return on Equity

High ROE: ERF's Return on Equity (4.5%) is considered low.


Financial Health

How is Elanor Retail Property Fund's financial position?


Financial Position Analysis

Short Term Liabilities: ERF's short term assets (A$58.7M) exceed its short term liabilities (A$22.9M).

Long Term Liabilities: ERF's short term assets (A$58.7M) do not cover its long term liabilities (A$70.0M).


Debt to Equity History and Analysis

Debt Level: ERF's debt to equity ratio (44.5%) is considered high.

Reducing Debt: ERF's debt to equity ratio has reduced from 92.5% to 44.5% over the past 5 years.

Debt Coverage: ERF's debt is not well covered by operating cash flow (12.4%).

Interest Coverage: ERF's interest payments on its debt are well covered by EBIT (4.6x coverage).


Balance Sheet


Dividend

What is Elanor Retail Property Fund current dividend yield, its reliability and sustainability?

8.07%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: ERF's dividend (8.07%) is higher than the bottom 25% of dividend payers in the Australian market (2.27%).

High Dividend: ERF's dividend (8.07%) is in the top 25% of dividend payers in the Australian market (5.32%)


Stability and Growth of Payments

Stable Dividend: ERF has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: ERF's dividend payments have increased, but the company has only paid a dividend for 5 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (71%), ERF's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: ERF's dividends in 3 years are forecast to be covered by earnings (96.1% payout ratio).


Next Steps

Management

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

3.8yrs

Average management tenure


CEO

Glenn Willis

no data

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...


Leadership Team

Experienced Management: ERF's management team is considered experienced (3.8 years average tenure).


Board Members

Experienced Board: ERF's board of directors are considered experienced (7.3 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

Elanor Retail Property Fund's employee growth, exchange listings and data sources


Key Information

  • Name: Elanor Retail Property Fund
  • Ticker: ERF
  • Exchange: ASX
  • Founded: NaN
  • Industry: Retail REITs
  • Sector: Real Estate
  • Market Cap: AU$137.291m
  • Shares outstanding: 127.71m
  • Website: https://www.elanorinvestors.com/ERF

Location

  • Elanor Retail Property Fund
  • 259 George Street
  • Level 38
  • Sydney
  • New South Wales
  • 2000
  • Australia

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/17 07:04
End of Day Share Price2021/10/15 00:00
Earnings2021/06/30
Annual Earnings2021/06/30


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.