Elanor Retail Property Fund (ASX:ERF) is an externally managed listed real estate investment fund investing in Australian retail property.
Price History & Performance
|Historical stock prices|
|Current Share Price||AU$1.08|
|52 Week High||AU$0.86|
|52 Week Low||AU$1.25|
|1 Month Change||-1.38%|
|3 Month Change||0.47%|
|1 Year Change||22.16%|
|3 Year Change||-15.35%|
|5 Year Change||n/a|
|Change since IPO||-20.37%|
Recent News & Updates
|ERF||AU REITs||AU Market|
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.
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
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
|ERF fundamental statistics|
Is ERF overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|ERF income statement (TTM)|
|Cost of Revenue||AU$2.17m|
Last Reported Earnings
Jun 30, 2021
Next Earnings Date
|Earnings per share (EPS)||0.029|
|Net Profit Margin||16.99%|
How did ERF perform over the long term?See historical performance and comparison
8.1%Current Dividend Yield
Is Elanor Retail 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: 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.
How is Elanor Retail Property Fund forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?
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%).
How has Elanor Retail Property Fund performed over the past 5 years?
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.
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).
What is Elanor Retail Property Fund current dividend yield, its reliability and sustainability?
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).
How experienced are the management team and are they aligned to shareholders interests?
Average management 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 Management: ERF's management team is considered experienced (3.8 years average tenure).
Experienced Board: ERF'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: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Elanor Retail Property Fund's employee growth, exchange listings and data sources
- 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
- Elanor Retail Property Fund
- 259 George Street
- Level 38
- New South Wales
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/10/17 07:04|
|End of Day Share Price||2021/10/15 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.