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GDI Property Group

ASX:GDI
Snowflake Description

Adequate balance sheet with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
GDI
ASX
A$734M
Market Cap
  1. Home
  2. AU
  3. Real Estate
Company description

GDI Property Group (GDI) is an ASX listed property owner and fund manager. The last earnings update was 92 days ago. More info.


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GDI Share Price and Events
7 Day Returns
0%
ASX:GDI
2.8%
AU REITs
1.1%
AU Market
1 Year Returns
8.5%
ASX:GDI
17.4%
AU REITs
2.6%
AU Market
GDI Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
GDI Property Group (GDI) 0% -3.9% -4.3% 8.5% 51.4% 41.1%
AU REITs 2.8% 2.8% 3.6% 17.4% 15.7% 66%
AU Market 1.1% 1.6% 4.1% 2.6% 17.9% 7.7%
1 Year Return vs Industry and Market
  • GDI underperformed the REITs industry which returned 17.4% over the past year.
  • GDI outperformed the Market in Australia which returned 2.6% over the past year.
Price Volatility
GDI
Industry
5yr Volatility vs Market

Value

 Is GDI Property Group undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of GDI Property Group to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for GDI Property Group.

ASX:GDI Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Funds From Operations
Levered Funds From Operations Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.1%
Perpetual Growth Rate 10-Year AU Government Bond Rate 2.3%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for ASX:GDI
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AU Govt Bond Rate 2.3%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.52
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.523 (1 + (1- 30%) (12.57%))
0.711
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.31% + (0.8 * 5.96%)
7.08%

Discounted Cash Flow Calculation for ASX:GDI using 2 Stage Free Cash Flow to Equity using Funds From Operations Model

The calculations below outline how an intrinsic value for GDI Property Group is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

GDI Property Group is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

ASX:GDI DCF 1st Stage: Next 10 year cash flow forecast
Funds From Operations (FFO) (AUD, Millions) Source Present Value
Discounted (@ 7.08%)
2019 46.90 Analyst x1 43.80
2020 41.70 Analyst x1 36.37
2021 47.20 Analyst x1 38.44
2022 47.64 Est @ 0.92% 36.23
2023 48.27 Est @ 1.34% 34.29
2024 49.06 Est @ 1.63% 32.54
2025 49.96 Est @ 1.84% 30.95
2026 50.95 Est @ 1.98% 29.48
2027 52.01 Est @ 2.08% 28.10
2028 53.12 Est @ 2.15% 26.80
Present value of next 10 years cash flows A$337.01
ASX:GDI DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= A$53.12 × (1 + 2.31%) ÷ (7.08% – 2.31%)
A$1,139.95
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= A$1,139.95 ÷ (1 + 7.08%)10
A$575.18
ASX:GDI Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= A$337.01 + A$575.18
A$912.19
Equity Value per Share
(AUD)
= Total value / Shares Outstanding
= A$912.19 / 539.58
A$1.67
ASX:GDI Discount to Share Price
Calculation Result
Value per share (AUD) From above. A$1.67
Current discount Discount to share price of A$1.34
= -1 x (A$1.34 - A$1.67) / A$1.67
19.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price GDI Property Group is available for.
Intrinsic value
20%
Share price is A$1.34 vs Future cash flow value of A$1.67
Current Discount Checks
For GDI Property Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • GDI Property Group's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • GDI Property Group's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for GDI Property Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are GDI Property Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ASX:GDI PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in AUD A$0.00
ASX:GDI Share Price ** ASX (2019-05-20) in AUD A$1.34
Australia REITs Industry PE Ratio Median Figure of 38 Publicly-Listed REITs Companies 11.08x
Australia Market PE Ratio Median Figure of 542 Publicly-Listed Companies 15.99x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of GDI Property Group.

ASX:GDI PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ASX:GDI Share Price ÷ EPS (both in AUD)

= 1.34 ÷ 0.00

348.5x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • GDI Property Group is overvalued based on earnings compared to the AU REITs industry average.
  • GDI Property Group is overvalued based on earnings compared to the Australia market.
Price based on expected Growth
Does GDI Property Group's expected growth come at a high price?
Raw Data
ASX:GDI PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 348.5x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
35.8%per year
Australia REITs Industry PEG Ratio Median Figure of 33 Publicly-Listed REITs Companies 1.04x
Australia Market PEG Ratio Median Figure of 359 Publicly-Listed Companies 1.44x

*Line of best fit is calculated by linear regression .

ASX:GDI PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 348.5x ÷ 35.8%

9.74x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • GDI Property Group is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on GDI Property Group's assets?
Raw Data
ASX:GDI PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in AUD A$0.04
ASX:GDI Share Price * ASX (2019-05-20) in AUD A$1.34
Australia REITs Industry PB Ratio Median Figure of 42 Publicly-Listed REITs Companies 1.12x
Australia Market PB Ratio Median Figure of 1,676 Publicly-Listed Companies 1.65x
ASX:GDI PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ASX:GDI Share Price ÷ Book Value per Share (both in AUD)

= 1.34 ÷ 0.04

35.43x

* Primary Listing of GDI Property Group.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • GDI Property Group is overvalued based on assets compared to the AU REITs industry average.
X
Value checks
We assess GDI Property Group's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. GDI Property Group has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

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

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
35.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is GDI Property Group expected to grow at an attractive rate?
  • GDI Property Group's earnings growth is expected to exceed the low risk savings rate of 2.3%.
Growth vs Market Checks
  • GDI Property Group's earnings growth is expected to exceed the Australia market average.
  • Unable to compare GDI Property Group's revenue growth to the Australia market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
ASX:GDI Future Growth Rates Data Sources
Data Point Source Value (per year)
ASX:GDI Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 35.8%
Australia REITs Industry Earnings Growth Rate Market Cap Weighted Average -3.2%
Australia REITs Industry Revenue Growth Rate Market Cap Weighted Average 0.3%
Australia Market Earnings Growth Rate Market Cap Weighted Average 6.9%
Australia Market Revenue Growth Rate Market Cap Weighted Average 3.2%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
ASX:GDI Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in AUD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ASX:GDI Future Estimates Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-06-30 47 66
2020-06-30 42 60
2019-06-30 47 72
ASX:GDI Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2018-12-31 82 54 2
2018-09-30 79 53 1
2018-06-30 76 52 0
2018-03-31 71 50 0
2017-12-31 66 49 -1
2017-09-30 69 46 -1
2017-06-30 72 43 -1
2017-03-31 76 38 -1
2016-12-31 79 33 -1
2016-09-30 80 35 0
2016-06-30 81 36 0
2016-03-31 81 32 0

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • GDI Property Group's earnings are expected to grow significantly at over 20% yearly.
  • Unable to determine if GDI Property Group is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
ASX:GDI Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from GDI Property Group Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:GDI Future Estimates Data
Date (Data in AUD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-06-30 0.12 0.12 0.12 1.00
2020-06-30 0.11 0.11 0.11 1.00
2019-06-30 0.13 0.13 0.13 1.00
ASX:GDI Past Financials Data
Date (Data in AUD Millions) EPS *
2018-12-31 0.00
2018-09-30 0.00
2018-06-30 0.00
2018-03-31 0.00
2017-12-31 0.00
2017-09-30 0.00
2017-06-30 0.00
2017-03-31 0.00
2016-12-31 0.00
2016-09-30 0.00
2016-06-30 0.00
2016-03-31 0.00

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • GDI Property Group is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess GDI Property Group's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Australia market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Australia market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
GDI Property Group has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

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

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare GDI Property Group's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • GDI Property Group has delivered over 20% year on year earnings growth in the past 5 years.
  • GDI Property Group has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • GDI Property Group has become profitable in the last year making it difficult to compare the AU REITs industry average.
Earnings and Revenue History
GDI Property Group's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from GDI Property Group Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:GDI Past Revenue, Cash Flow and Net Income Data
Date (Data in AUD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 81.79 2.07 8.21
2018-09-30 78.91 1.13 8.17
2018-06-30 76.02 0.18 8.13
2018-03-31 71.26 -0.24 7.68
2017-12-31 66.49 -0.66 7.24
2017-09-30 69.29 -0.93 7.22
2017-06-30 72.09 -1.21 7.21
2017-03-31 75.58 -1.12 7.08
2016-12-31 79.07 -1.03 6.96
2016-09-30 79.93 -0.33 6.66
2016-06-30 80.79 0.36 6.35
2016-03-31 80.99 0.13 6.33
2015-12-31 81.18 -0.10 6.31
2015-09-30 80.75 -0.83 6.10
2015-06-30 80.32 -1.56 5.90
2014-06-30 56.98 -1.39 3.32
2013-06-30 18.37 14.10 3.81
2012-06-30 3.90 -0.71 4.21

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • GDI Property Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • GDI Property Group used its assets less efficiently than the AU REITs industry average last year based on Return on Assets.
  • GDI Property Group has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess GDI Property Group's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
GDI Property Group has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is GDI Property Group's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up GDI Property Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • GDI Property Group's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • GDI Property Group's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of GDI Property Group's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from GDI Property Group Company Filings, last reported 4 months ago.

ASX:GDI Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 708.79 92.23 10.58
2018-09-30 708.79 92.23 10.58
2018-06-30 690.58 91.46 22.36
2018-03-31 690.58 91.46 22.36
2017-12-31 656.32 91.86 16.82
2017-09-30 656.32 91.86 16.82
2017-06-30 659.04 81.09 23.11
2017-03-31 659.04 81.09 23.11
2016-12-31 630.25 322.99 11.58
2016-09-30 630.25 322.99 11.58
2016-06-30 597.32 324.40 28.39
2016-03-31 597.32 324.40 28.39
2015-12-31 550.11 229.02 6.82
2015-09-30 550.11 229.02 6.82
2015-06-30 556.26 326.83 4.82
2014-06-30 544.16 171.56 14.72
2013-06-30
2012-06-30
  • GDI Property Group's level of debt (13%) compared to net worth is satisfactory (less than 40%).
  • Unable to establish if GDI Property Group's debt level has increased without past 5-year debt data.
  • Debt is well covered by operating cash flow (58.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 14.9x coverage).
X
Financial health checks
We assess GDI Property Group's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. GDI Property Group has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is GDI Property Group's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.78%
Current annual income from GDI Property Group dividends. Estimated to be 5.82% next year.
If you bought A$2,000 of GDI Property Group shares you are expected to receive A$116 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • GDI Property Group's pays a higher dividend yield than the bottom 25% of dividend payers in Australia (2.65%).
  • GDI Property Group's dividend is below the markets top 25% of dividend payers in Australia (5.83%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
ASX:GDI Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
Australia REITs Industry Average Dividend Yield Market Cap Weighted Average of 40 Stocks 4.6%
Australia Market Average Dividend Yield Market Cap Weighted Average of 415 Stocks 4.3%
Australia Minimum Threshold Dividend Yield 10th Percentile 1.5%
Australia Bottom 25% Dividend Yield 25th Percentile 2.6%
Australia Top 25% Dividend Yield 75th Percentile 5.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

ASX:GDI Future Dividends Estimate Data
Date (Data in A$) Dividend per Share (annual) Avg. No. Analysts
2021-06-30 0.08 1.00
2020-06-30 0.08 1.00
2019-06-30 0.08 1.00
ASX:GDI Past Annualized Dividends Data
Date (Data in A$) Dividend per share (annual) Avg. Yield (%)
2018-12-13 0.078 5.673
2018-08-20 0.078 6.007
2018-02-19 0.078 6.176
2017-09-28 0.078 6.301
2017-08-21 0.078 6.984
2017-02-20 0.078 7.522
2016-06-16 0.078 8.051
2015-12-14 0.078 8.961
2015-08-24 0.075 8.366
2015-02-23 0.075 8.220
2014-08-25 0.035 3.950

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, GDI Property Group has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but GDI Property Group only paid a dividend in the past 5 years.
Current Payout to shareholders
What portion of GDI Property Group's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (571.4x coverage).
X
Income/ dividend checks
We assess GDI Property Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.5%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can GDI Property Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. GDI Property Group has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of GDI Property Group's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Steve Gillard
COMPENSATION A$1,975,492
AGE 52
TENURE AS CEO 5.4 years
CEO Bio

Mr. Steven Neville Gillard, also known as Steve, has been Managing Director of GDI Property Group since December 16, 2013 and has been its Director since November 5, 2013. Mr. Gillard has over 34 years’ experience in property related industries and is a Fellow Member of the Australian Property Institute (FAPI). He has spent over 11 years working for major agency firms in property management, subsequently specializing in investment sales and development site sales for Colliers International and DTZ. In 1991, Mr. Gillard moved to the financial markets where he spent seven years as a Senior Analyst and advisor for international stockbroking firms, specifically in the property and tourism sectors. Mr. Gillard completed many major property and tourism related capital raisings during this period. For the next seven years. He serves as Director of QSR Pty Ltd. Mr. Gillard advised ASX and unlisted companies on the acquisition and sale of property and related businesses. Mr. Gillard joined GDI group in 2005 as Managing Director.

CEO Compensation
  • Steve's compensation has increased in line with GDI Property Group recently becoming profitable.
  • Steve's remuneration is higher than average for companies of similar size in Australia.
Management Team Tenure

Average tenure and age of the GDI Property Group management team in years:

5.1
Average Tenure
51
Average Age
  • The average tenure for the GDI Property Group management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Steve Gillard

TITLE
MD & Director
COMPENSATION
A$2M
AGE
52
TENURE
5.4 yrs

David Williams

TITLE
Joint Company Secretary & CFO
COMPENSATION
A$797K
AGE
46
TENURE
6.3 yrs

John Garland

TITLE
Head of Property
COMPENSATION
A$716K
AGE
51

Greg Marr

TITLE
Head of Unlisted Funds
COMPENSATION
A$600K
TENURE
4.8 yrs

Kate Malcolm

TITLE
Joint Company Secretary
TENURE
0.8 yrs
Board of Directors Tenure

Average tenure of the GDI Property Group board of directors in years:

1.5
Average Tenure
  • The average tenure for the GDI Property Group board of directors is less than 3 years, this suggests a new board.
Board of Directors

Gina Nancy Anderson

TITLE
Chairman
COMPENSATION
A$75K
AGE
58
TENURE
0.5 yrs

Steve Gillard

TITLE
MD & Director
COMPENSATION
A$2M
AGE
52
TENURE
5.5 yrs

Giles Woodgate

TITLE
Independent Non Executive Director
COMPENSATION
A$47K
TENURE
1.5 yrs

John Tuxworth

TITLE
Independent Non Executive Director
COMPENSATION
A$75K
TENURE
2.3 yrs

Stephen Burns

TITLE
Director
TENURE
0.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (A$) Value (A$)
25. Feb 19 Sell Pendal Group Limited Company 20. Dec 18 20. Dec 18 -65,500 A$1.37 A$-89,735
25. Feb 19 Buy Pendal Group Limited Company 22. Oct 18 21. Feb 19 7,899,288 A$1.31 A$10,327,098
23. Dec 18 Sell The Vanguard Group, Inc. Company 28. Feb 17 19. Dec 18 -3,946,663 A$1.34 A$-5,205,260
23. Dec 18 Buy The Vanguard Group, Inc. Company 01. Mar 17 20. Dec 18 9,362,413 A$1.37 A$12,794,812
29. Nov 18 Sell Steven Gillard Individual 27. Nov 18 27. Nov 18 -1,311,221 A$1.26 A$-1,653,186
13. Sep 18 Sell Vinva Investment Management Company 09. Nov 17 11. Sep 18 -1,035,276 A$1.26 A$-1,303,705
13. Sep 18 Buy Vinva Investment Management Company 09. Nov 17 11. Sep 18 376,897 A$1.27 A$478,151
X
Management checks
We assess GDI Property Group's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. GDI Property Group has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Are Dividend Investors Making A Mistake With GDI Property Group (ASX:GDI)?

Dividend paying stocks like GDI Property Group (ASX:GDI) tend to be popular with investors, and for good reason - some research shows that a significant amount of all stock market returns come from reinvested dividends. … Unfortunately, one common occurrence with dividend companies is for investors to be enticed in by the seemingly attractive yield, and lose money when the company has to cut its dividend payments. … With a goodly-sized dividend yield despite a relatively short payment history, investors might be wondering if GDI Property Group is a new dividend aristocrat in the making.

Simply Wall St -

GDI Property Group (ASX:GDI) Delivered A Better ROE Than Its Industry

With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … Another way to think of that is that for every A$1 worth of equity in the company, it was able to earn A$0.13. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

If You Had Bought GDI Property Group (ASX:GDI) Stock Three Years Ago, You'd Be Sitting On A -62% Loss, Today

Given that GDI Property Group only made minimal earnings in the last twelve months, we'll focus on revenue to gauge its business development. … Many high growth companies focus on growing revenue before profits, but if revenue is the focus, it really needs to grow. … GDI Property Group actually saw its revenue drop by 2.4% per year over three years.

Simply Wall St -

You May Have Been Looking At GDI Property Group (ASX:GDI) All Wrong

REITs own and operate income-generating property and adhere to a different set of regulations. … View our latest analysis for GDI Property Group … This term is very common in the REIT investing world as it provides a cleaner look at its cash flow from daily operations by excluding impact of one-off activities or non-cash items such as depreciation

Simply Wall St -

Is GDI Property Group (ASX:GDI) Overpaying Its CEO?

Steve Gillard has been the CEO of GDI Property Group (ASX:GDI) since 2013. … First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Steve Gillard's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Do Insiders Own Shares In GDI Property Group (ASX:GDI)?

The big shareholder groups in GDI Property Group (ASX:GDI) have power over the company. … GDI Property Group is a smaller company with a market capitalization of AU$710m, so it may still be flying under the radar of many institutional investors. … Taking a look at the our data on the ownership groups (below), it's seems that.

Simply Wall St -

Taking A Look At GDI Property Group's (ASX:GDI) ROE

Our data shows GDI Property Group has a return on equity of 11% for the last year. … One way to conceptualize this, is that for each A$1 of shareholders' equity it has, the company made A$0.11 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Is GDI Property Group's (ASX:GDI) CEO Paid Enough Relative To Peers?

At the time of writing our data says that GDI Property Group has a market cap of AU$688m, and is paying total annual CEO compensation of AU$2m. … We examined companies with market caps from AU$278m to AU$1.1b, and discovered that the median CEO compensation of that group was AU$1m. … Thus we can conclude that Steve Gillard receives more in total compensation than the median of a group of companies in the same market, and of similar size to GDI Property Group

Simply Wall St -

Should Income Investors Buy GDI Property Group (ASX:GDI) Before Its Ex-Dividend?

GDI Property Group (ASX:GDI) will be distributing its dividend of AU$0.039 per share on the 31 August 2018, and will start trading ex-dividend in 2 days time on the 28 June 2018. … Below, I will explain how holding GDI Property Group can impact your portfolio income stream, by analysing the stock's most recent financial data and dividend attributes. … 5 questions I ask before picking a dividend stock

Simply Wall St -

You May Have Been Looking At GDI Property Group (ASX:GDI) All Wrong

real estate investment trust (REIT) based in Sydney, Australia. … REIT shares give you ownership of the company than owns and manages various income-producing property, whether it be commercial, industrial or residential. … View out our latest analysis for GDI Property Group

Simply Wall St -

Company Info

Description

GDI Property Group (GDI) is an ASX listed property owner and fund manager. We have a proud history of delivering strong returns to investors for over 25 years. Our Board and employees are passionate about property and about funds management. We aim to continue to grow the wealth of our investors, provide exceptional accommodation to our customers and be a highly respected brand in our community. Our success has been founded on a sound investment philosophy of buying well, managing well and selling well.

Details
Name: GDI Property Group
GDI
Exchange: ASX
Founded:
A$733,828,318
539,579,646
Website: http://www.gdi.com.au
Address: GDI Property Group
56 Pitt Street,
Level 23,
Sydney,
New South Wales, 2000,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX GDI Stapled Securities Australian Securities Exchange AU AUD 17. Dec 2013
CHIA GDI Stapled Securities Chi-X Australia AU AUD 17. Dec 2013
Number of employees
Current staff
Staff numbers
0
GDI Property Group employees.
Industry
Office REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/20 10:35
End of day share price update: 2019/05/20 00:00
Last estimates confirmation: 2019/02/18
Last earnings filing: 2019/02/17
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/06/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.