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Shopping Centres Australasia Property Group

ASX:SCP
Snowflake Description

Second-rate dividend payer and slightly overvalued.

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

SCA Property Group (SCP) includes two internally managed real estate investment trusts owning a portfolio of quality neighbourhood and sub-regional shopping centres located across Australia. The last earnings update was 79 days ago. More info.


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SCP Share Price and Events
7 Day Returns
2.7%
ASX:SCP
-0.8%
AU REITs
0.5%
AU Market
1 Year Returns
12.9%
ASX:SCP
18.1%
AU REITs
4.9%
AU Market
SCP Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Shopping Centres Australasia Property Group (SCP) 2.7% 2.3% 4.4% 12.9% 14.4% 51%
AU REITs -0.8% -1.5% 5.9% 18.1% 16.9% 61.8%
AU Market 0.5% 1.9% 8% 4.9% 19.5% 6.3%
1 Year Return vs Industry and Market
  • SCP underperformed the REITs industry which returned 18.1% over the past year.
  • SCP outperformed the Market in Australia which returned 4.9% over the past year.
Price Volatility
SCP
Industry
5yr Volatility vs Market

Value

 Is Shopping Centres Australasia 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 Shopping Centres Australasia 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 Shopping Centres Australasia Property Group.

ASX:SCP Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 6 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.2%
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:SCP
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 0.54
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.537 (1 + (1- 30%) (50.19%))
0.817
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.82
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.31% + (0.817 * 5.96%)
7.18%

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

The calculations below outline how an intrinsic value for Shopping Centres Australasia 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.

Shopping Centres Australasia 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:SCP DCF 1st Stage: Next 10 year cash flow forecast
Adjusted Funds From Operations (AFFO) (AUD, Millions) Source Present Value
Discounted (@ 7.18%)
2019 135.00 Analyst x1 125.96
2020 144.55 Analyst x2 125.83
2021 149.00 Analyst x1 121.02
2022 155.14 Est @ 4.12% 117.57
2023 160.69 Est @ 3.58% 113.62
2024 165.83 Est @ 3.2% 109.40
2025 170.70 Est @ 2.93% 105.06
2026 175.39 Est @ 2.75% 100.72
2027 179.97 Est @ 2.62% 96.43
2028 184.52 Est @ 2.52% 92.24
Present value of next 10 years cash flows A$1,107.86
ASX:SCP DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= A$184.52 × (1 + 2.31%) ÷ (7.18% – 2.31%)
A$3,878.80
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= A$3,878.80 ÷ (1 + 7.18%)10
A$1,939.08
ASX:SCP Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= A$1,107.86 + A$1,939.08
A$3,046.94
Equity Value per Share
(AUD)
= Total value / Shares Outstanding
= A$3,046.94 / 925.58
A$3.33
ASX:SCP Discount to Share Price
Calculation Result
Value per share (AUD) From above. A$3.33
Current discount Discount to share price of A$2.62
= -1 x (A$2.62 - A$3.33) / A$3.33
21.3%

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

Current Discount
Amount off the current price Shopping Centres Australasia Property Group is available for.
Intrinsic value
21%
Share price is A$2.62 vs Future cash flow value of A$3.33
Current Discount Checks
For Shopping Centres Australasia Property Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Shopping Centres Australasia Property Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Shopping Centres Australasia 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 Shopping Centres Australasia Property Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Shopping Centres Australasia Property Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ASX:SCP PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in AUD A$0.19
ASX:SCP Share Price ** ASX (2019-04-24) in AUD A$2.62
Australia REITs Industry PE Ratio Median Figure of 38 Publicly-Listed REITs Companies 10.89x
Australia Market PE Ratio Median Figure of 544 Publicly-Listed Companies 16.19x

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

** Primary Listing of Shopping Centres Australasia Property Group.

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

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

= 2.62 ÷ 0.19

14.1x

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

  • Shopping Centres Australasia Property Group is overvalued based on earnings compared to the AU REITs industry average.
  • Shopping Centres Australasia Property Group is good value based on earnings compared to the Australia market.
Price based on expected Growth
Does Shopping Centres Australasia Property Group's expected growth come at a high price?
Raw Data
ASX:SCP PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 14.1x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
4.2%per year
Australia REITs Industry PEG Ratio Median Figure of 33 Publicly-Listed REITs Companies 0.78x
Australia Market PEG Ratio Median Figure of 359 Publicly-Listed Companies 1.38x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 14.1x ÷ 4.2%

3.32x

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

  • Shopping Centres Australasia Property Group is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Shopping Centres Australasia Property Group's assets?
Raw Data
ASX:SCP PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in AUD A$2.27
ASX:SCP Share Price * ASX (2019-04-24) in AUD A$2.62
Australia REITs Industry PB Ratio Median Figure of 42 Publicly-Listed REITs Companies 1.1x
Australia Market PB Ratio Median Figure of 1,676 Publicly-Listed Companies 1.68x
ASX:SCP PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 2.62 ÷ 2.27

1.15x

* Primary Listing of Shopping Centres Australasia Property Group.

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

  • Shopping Centres Australasia Property Group is overvalued based on assets compared to the AU REITs industry average.
X
Value checks
We assess Shopping Centres Australasia 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. Shopping Centres Australasia Property Group has a total score of 2/6, 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 Shopping Centres Australasia Property Group expected to perform in the next 1 to 3 years based on estimates from 6 analysts?

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
4.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Shopping Centres Australasia Property Group expected to grow at an attractive rate?
  • Shopping Centres Australasia Property Group's earnings growth is expected to exceed the low risk savings rate of 2.3%.
Growth vs Market Checks
  • Shopping Centres Australasia Property Group's earnings growth is positive but not above the Australia market average.
  • Shopping Centres Australasia Property Group's revenue growth is expected to exceed the Australia market average.
Annual Growth Rates Comparison
Raw Data
ASX:SCP Future Growth Rates Data Sources
Data Point Source Value (per year)
ASX:SCP Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 4.2%
ASX:SCP Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 8.2%
Australia REITs Industry Earnings Growth Rate Market Cap Weighted Average -4.1%
Australia REITs Industry Revenue Growth Rate Market Cap Weighted Average 0.1%
Australia Market Earnings Growth Rate Market Cap Weighted Average 6.7%
Australia Market Revenue Growth Rate Market Cap Weighted Average 3%

*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:SCP Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in AUD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ASX:SCP Future Estimates Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-06-30 160
2022-06-30 156
2021-06-30 305 172 187 3
2020-06-30 297 166 173 4
2019-06-30 269 137 141 4
ASX:SCP Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2018-12-31 235 101 145
2018-09-30 226 108 160
2018-06-30 218 114 175
2018-03-31 214 114 180
2017-12-31 211 114 185
2017-09-30 209 113 253
2017-06-30 206 112 321
2017-03-31 200 109 303
2016-12-31 195 105 284
2016-09-30 189 104 217
2016-06-30 183 102 149

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Shopping Centres Australasia Property Group's earnings are expected to grow by 4.2% yearly, however this is not considered high growth (20% yearly).
  • Shopping Centres Australasia Property Group's revenue is expected to grow by 8.2% yearly, however this is not considered high growth (20% yearly).
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:SCP Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from Shopping Centres Australasia Property Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:SCP Future Estimates Data
Date (Data in AUD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-06-30 0.17 0.17 0.17 1.00
2022-06-30 0.16 0.16 0.16 1.00
2021-06-30 0.17 0.18 0.17 2.00
2020-06-30 0.16 0.17 0.16 3.00
2019-06-30 0.16 0.18 0.15 3.00
ASX:SCP Past Financials Data
Date (Data in AUD Millions) EPS *
2018-12-31 0.19
2018-09-30 0.21
2018-06-30 0.23
2018-03-31 0.24
2017-12-31 0.25
2017-09-30 0.34
2017-06-30 0.44
2017-03-31 0.41
2016-12-31 0.39
2016-09-30 0.30
2016-06-30 0.20

*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.
  • Shopping Centres Australasia 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 Shopping Centres Australasia 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.
Shopping Centres Australasia Property Group has a total score of 2/6, 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 Shopping Centres Australasia 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 Shopping Centres Australasia 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.
  • Shopping Centres Australasia Property Group's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Shopping Centres Australasia Property Group's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Shopping Centres Australasia Property Group's 1-year earnings growth is negative, it can't be compared to the AU REITs industry average.
Earnings and Revenue History
Shopping Centres Australasia 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 Shopping Centres Australasia Property Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:SCP Past Revenue, Cash Flow and Net Income Data
Date (Data in AUD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 234.80 144.90 12.50
2018-09-30 226.15 160.05 12.30
2018-06-30 217.50 175.20 12.10
2018-03-31 214.45 179.85 12.15
2017-12-31 211.40 184.50 12.20
2017-09-30 208.50 252.70 12.10
2017-06-30 205.60 320.90 12.00
2017-03-31 200.30 302.55 11.40
2016-12-31 195.00 284.20 10.80
2016-09-30 188.75 216.70 10.35
2016-06-30 182.50 149.20 9.90
2015-12-31 161.20 111.00 8.50
2015-09-30 159.05 124.60 8.85
2015-06-30 156.90 138.20 9.20
2015-03-31 171.05 158.65 11.20
2014-12-31 166.30 166.80 11.20
2014-09-30 162.35 139.20 11.05
2014-06-30 158.40 111.60 10.90
2013-06-30 122.57 -7.54 10.11

*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.
  • Shopping Centres Australasia Property Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Shopping Centres Australasia Property Group used its assets less efficiently than the AU REITs industry average last year based on Return on Assets.
  • Shopping Centres Australasia Property Group's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Shopping Centres Australasia 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.
Shopping Centres Australasia Property Group has a total score of 1/6, 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 Shopping Centres Australasia 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 Shopping Centres Australasia Property Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Shopping Centres Australasia Property Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Shopping Centres Australasia Property Group's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Shopping Centres Australasia 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 0.1x 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 Shopping Centres Australasia Property Group Company Filings, last reported 3 months ago.

ASX:SCP Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 2,076.70 1,203.10 72.10
2018-09-30 2,076.70 1,203.10 72.10
2018-06-30 1,721.00 873.90 4.00
2018-03-31 1,721.00 873.90 4.00
2017-12-31 1,661.50 867.90 3.20
2017-09-30 1,661.50 867.90 3.20
2017-06-30 1,633.70 817.50 3.90
2017-03-31 1,633.70 817.50 3.90
2016-12-31 1,552.80 761.60 6.30
2016-09-30 1,552.80 761.60 6.30
2016-06-30 1,408.90 639.40 7.10
2015-12-31 1,341.00 760.30 7.90
2015-09-30 1,341.00 760.30 7.90
2015-06-30 1,276.80 680.30 6.90
2015-03-31 1,276.80 680.30 6.90
2014-12-31 1,123.90 685.30 9.00
2014-09-30 1,123.90 685.30 9.00
2014-06-30 1,065.60 540.30 1.50
2013-06-30 1,009.00 452.30 15.40
  • Shopping Centres Australasia Property Group's level of debt (57.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (47.9% vs 57.9% today).
  • Debt is not well covered by operating cash flow (8.4%, less than 20% of total debt).
  • Shopping Centres Australasia Property Group earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Shopping Centres Australasia 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. Shopping Centres Australasia Property Group has a total score of 2/6, 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 Shopping Centres Australasia 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
5.53%
Current annual income from Shopping Centres Australasia Property Group dividends. Estimated to be 5.75% next year.
If you bought A$2,000 of Shopping Centres Australasia Property Group shares you are expected to receive A$111 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?
  • Shopping Centres Australasia Property Group's pays a higher dividend yield than the bottom 25% of dividend payers in Australia (2.52%).
  • Shopping Centres Australasia Property Group's dividend is below the markets top 25% of dividend payers in Australia (5.72%).
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:SCP 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 6 Analyst Estimates (S&P Global) See Below
Australia REITs Industry Average Dividend Yield Market Cap Weighted Average of 40 Stocks 4.7%
Australia Market Average Dividend Yield Market Cap Weighted Average of 417 Stocks 4.3%
Australia Minimum Threshold Dividend Yield 10th Percentile 1.6%
Australia Bottom 25% Dividend Yield 25th Percentile 2.5%
Australia Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

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

ASX:SCP Future Dividends Estimate Data
Date (Data in A$) Dividend per Share (annual) Avg. No. Analysts
2023-06-30 0.15 1.00
2022-06-30 0.15 1.00
2021-06-30 0.15 7.00
2020-06-30 0.15 8.00
2019-06-30 0.15 8.00
ASX:SCP Past Annualized Dividends Data
Date (Data in A$) Dividend per share (annual) Avg. Yield (%)
2018-12-13 0.145 5.714
2018-06-13 0.142 5.705
2017-12-13 0.136 5.871
2017-06-16 0.134 5.893
2016-12-14 0.128 5.690
2016-06-15 0.124 5.535
2015-12-16 0.120 5.396
2015-06-17 0.116 5.699
2014-12-17 0.112 5.522
2014-06-17 0.112 6.349
2013-12-18 0.108 6.633
2013-08-27 0.056 3.604

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

  • Whilst dividend payments have been stable, Shopping Centres Australasia Property Group has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Shopping Centres Australasia Property Group only paid a dividend in the past 6 years.
Current Payout to shareholders
What portion of Shopping Centres Australasia Property Group's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (1052.6x coverage).
X
Income/ dividend checks
We assess Shopping Centres Australasia Property Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.6%) - 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 Shopping Centres Australasia Property Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Shopping Centres Australasia 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 Shopping Centres Australasia 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
Anthony Michael Mellowes
COMPENSATION A$1,768,478
TENURE AS CEO 6.4 years
CEO Bio

Mr. Anthony Michael Grainger Mellowes serves as the Chief Executive Officer at Shopping Centres Australasia Property Group Re Limited, a Responsible Entity of Shopping Centres Australasia Property Group since July 1, 2013. Mr. Mellowes has been an Executive Director of Shopping Centres Australasia Property Group Re Limited, a Responsible Entity of Shopping Centres Australasia Property Group since October 2, 2012. He is an Executive Director of SCA Unlisted Retail Fund RE Limited. Previously, he served as the Interim Chief Executive Officer at Shopping Centres Australasia Property Group from November 23, 2012 to July 1, 2013. Mr. Mellowes was a key member of the Woolworths Limited team which created SCA Property Group. Prior to joining SCA Property Group, he was employed by Woolworths Limited since 2002 to 2012 and held a number of senior property related roles including Head of Asset Management and Group Property Operations Manager. Prior to Woolworths, Mr. Mellowes worked for Lend Lease Group and Westfield Limited. Mr. Mellowes is an Experienced Property Executive. He has specific skills in the following areas: Real estate, in particular retail assets, spanning all aspects of real estate including property and development management, portfolio and investment management and funds management; Retail experience spanning all retail asset classes; M&A and capital markets; and Equity placements. He holds a Bachelor of Financial Administration and completed Strategic Management Program at Macquarie Graduate School of Management.

CEO Compensation
  • Anthony Michael's compensation has been consistent with company performance over the past year.
  • Anthony Michael's remuneration is lower than average for companies of similar size in Australia.
Management Team Tenure

Average tenure of the Shopping Centres Australasia Property Group management team in years:

6.4
Average Tenure
  • The average tenure for the Shopping Centres Australasia Property Group management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Anthony Michael Mellowes

TITLE
CEO & Executive Director of Shopping Centres Australasia Property Group RE Limited
COMPENSATION
A$2M
TENURE
6.4 yrs

Mark Fleming

TITLE
CFO, Head of Investor Relations & Director of Shopping Centres Australasia Property Group RE Limited
COMPENSATION
A$938K
TENURE
5.7 yrs

Mark Lamb

TITLE
General Counsel & Company Secretary of Shopping Centres Australasia Property Group RE Limited
COMPENSATION
A$718K
TENURE
6.6 yrs

Sid Sharma

TITLE
General Manager of Operations

Campbell Aitken

TITLE
Chief Investment Officer
Board of Directors Tenure

Average tenure of the Shopping Centres Australasia Property Group board of directors in years:

5.4
Average Tenure
  • The tenure for the Shopping Centres Australasia Property Group board of directors is about average.
Board of Directors

Philip Clark

TITLE
Independent Chairman
COMPENSATION
A$323K
TENURE
6.6 yrs

Anthony Michael Mellowes

TITLE
CEO & Executive Director of Shopping Centres Australasia Property Group RE Limited
COMPENSATION
A$2M
TENURE
6.5 yrs

Mark Fleming

TITLE
CFO, Head of Investor Relations & Director of Shopping Centres Australasia Property Group RE Limited
COMPENSATION
A$938K
TENURE
3.9 yrs

Phil Redmond

TITLE
Independent Non-Executive Director
COMPENSATION
A$146K
TENURE
6.6 yrs

Belinda Robson

TITLE
Independent Non-Executive Director
COMPENSATION
A$139K
TENURE
6.6 yrs

Kirstin Ferguson

TITLE
Independent Non-Executive Director of Shopping Centres Australasia Property Group RE Limited
COMPENSATION
A$145K
AGE
45
TENURE
4.3 yrs

Steve Crane

TITLE
Independent Non-Executive Director of Shopping Centres Australasia Property Group RE Limited
AGE
66
TENURE
0.3 yrs

Beth Laughton

TITLE
Independent Non-Executive Director of Shopping Centres Australasia Property Group RE Limited
TENURE
0.3 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Shopping Centres Australasia Property Group insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (A$) Value (A$)
14. Apr 19 Buy State Street Global Advisors, Inc. Company 11. Dec 18 10. Apr 19 18,406,006 A$2.69 A$49,140,325
21. Mar 19 Buy Beth Laughton Individual 19. Mar 19 19. Mar 19 4,000 A$2.60 A$10,420
11. Dec 18 Sell Legg Mason, Inc. Company 07. Dec 18 07. Dec 18 -343,797 A$2.72 A$-936,160
10. Dec 18 Buy Legg Mason, Inc. Company 16. Aug 18 29. Nov 18 1,652,387 A$2.42 A$3,991,139
10. Dec 18 Sell Legg Mason, Inc. Company 15. Aug 18 06. Dec 18 -4,673,654 A$2.64 A$-12,337,088
07. Feb 19 Buy Steven Crane Individual 07. Feb 19 07. Feb 19 50,000 A$2.50 A$124,800
09. Nov 18 Sell Investors Mutual Limited Company 31. Oct 18 07. Nov 18 -1,313,900 A$2.59 A$-3,385,686
31. Oct 18 Sell Investors Mutual Limited Company 10. Jul 18 30. Oct 18 -12,583,056 A$2.56 A$-32,251,170
19. Aug 18 Sell The Vanguard Group, Inc. Company 10. Mar 16 10. Aug 18 -14,399,749 A$2.48 A$-35,688,994
19. Aug 18 Buy The Vanguard Group, Inc. Company 09. Mar 16 14. Aug 18 23,389,064 A$2.54 A$59,029,005
14. Aug 18 Sell Mark Fleming Individual 14. Aug 18 14. Aug 18 -255,061 A$2.44 A$-620,349
14. Aug 18 Sell Anthony Michael Mellowes Individual 13. Aug 18 13. Aug 18 -517,247 A$2.43 A$-1,258,152
05. Jun 18 Sell Investors Mutual Limited Company 01. Mar 18 04. Jun 18 -11,633,000 A$2.41 A$-28,054,340
X
Management checks
We assess Shopping Centres Australasia 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. Shopping Centres Australasia 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

Do Institutions Own Shopping Centres Australasia Property Group (ASX:SCP) Shares?

A look at the shareholders of Shopping Centres Australasia Property Group (ASX:SCP) can tell us which group is most powerful. … Generally speaking, as a company grows, institutions will increase their ownership. … Shopping Centres Australasia Property Group isn't enormous, but it's not particularly small either.

Simply Wall St -

Should You Be Worried About Shopping Centres Australasia Property Group's (ASX:SCP) 7.0% Return On Equity?

By way of learning-by-doing, we'll look at ROE to gain a better understanding of Shopping Centres Australasia Property Group (ASX:SCP). … Over the last twelve months Shopping Centres Australasia Property Group has recorded a ROE of 7.0%. … See our latest analysis for Shopping Centres Australasia Property Group?

Simply Wall St -

If You Had Bought Shopping Centres Australasia Property Group Stock Five Years Ago, You Could Pocket A 45% Gain Today

While Shopping Centres Australasia Property Group (ASX:SCP) shareholders are probably generally happy, the stock hasn't had particularly good run recently, with the share price falling 10% in the last quarter. … View our latest analysis for Shopping Centres Australasia Property Group. … During five years of share price growth, Shopping Centres Australasia Property Group achieved compound earnings per share (EPS) growth of 1.5% per year.

Simply Wall St -

Investing In Shopping Centres Australasia Property Group (ASX:SCP): What You Need To Know

Shopping Centres Australasia Property Group is a AU$2.3b. … REIT shares give you ownership of the company than owns and manages various income-producing property, whether it be commercial, industrial or residential. … See our latest analysis for Shopping Centres Australasia Property Group

Simply Wall St -

Have Insiders Been Selling Shopping Centres Australasia Property Group (ASX:SCP) Shares?

So shareholders might well want to know whether insiders have been buying or selling shares in Shopping Centres Australasia Property Group (ASX:SCP). … The Last 12 Months Of Insider Transactions At Shopping Centres Australasia Property Group. … CEO & Executive Director of Shopping Centres Australasia Property Group RE Limited Anthony Michael Mellowes made the biggest insider sale in the last 12 months.

Simply Wall St -

Could The Shopping Centres Australasia Property Group (ASX:SCP) Ownership Structure Tell Us Something Useful?

If you want to know who really controls Shopping Centres Australasia Property Group (ASX:SCP), then you'll have to look at the makeup of its share registry. … Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. … Shopping Centres Australasia Property Group has a market capitalization of AU$2.5b, so we would expect some institutional investors to have noticed the stock.

Simply Wall St -

Should You Worry About Shopping Centres Australasia Property Group's (ASX:SCP) CEO Pay Cheque?

In 2012 Anthony Michael Mellowes was appointed CEO of Shopping Centres Australasia Property Group (ASX:SCP). … View our latest analysis for Shopping Centres Australasia Property Group? … According to our data, Shopping Centres Australasia Property Group has a market capitalization of AU$2.2b, and pays its CEO total annual compensation worth AU$1.8m

Simply Wall St -

What You Need To Know Before Investing In Shopping Centres Australasia Property Group (ASX:SCP)

Shopping Centres Australasia Property Group is a AU$2.2b. … Check out our latest analysis for Shopping Centres Australasia Property Group … A common financial term REIT investors should know is Funds from Operations, or FFO for short, which is a REIT's main source of income from its portfolio of property, such as rent

Simply Wall St -

Did Shopping Centres Australasia Property Group (ASX:SCP) Create Value For Investors Over The Past Year?

Shopping Centres Australasia Property Group (ASX:SCP) delivered an ROE of 10.2% over the past 12 months, which is relatively in-line with its industry average of 12.1% during the same period. … But what is more interesting is whether SCP can sustain or improve on this level of return. … View our latest analysis for Shopping Centres Australasia Property Group

Simply Wall St -

Is Buying Shopping Centres Australasia Property Group (ASX:SCP) For Its Upcoming AU$0.071 Dividend A Good Choice?

On the 30 August 2018, Shopping Centres Australasia Property Group (ASX:SCP) will be paying shareholders an upcoming dividend amount of AU$0.071 per share. … Investors looking for higher income-generating stocks to add to their portfolio should keep reading, as I examine Shopping Centres Australasia Property Group's latest financial data to analyse its dividend characteristics. … View out our latest analysis for Shopping Centres Australasia Property Group

Simply Wall St -

Company Info

Description

SCA Property Group (SCP) includes two internally managed real estate investment trusts owning a portfolio of quality neighbourhood and sub-regional shopping centres located across Australia. The SCA Property Group invests in shopping centres predominantly anchored by non-discretionary retailers, with long term leases to tenants such as Woolworths Limited, Coles Group Limited and companies in the Wesfarmers Limited group. The SCA Property Group is a stapled entity comprising Shopping Centres Australasia Property Management Trust (ARSN 160 612 626) and Shopping Centres Australasia Property Retail Trust (ARSN 160 612 788).

Details
Name: Shopping Centres Australasia Property Group
SCP
Exchange: ASX
Founded:
A$2,397,259,923
925,582,982
Website: http://www.scaproperty.com.au
Address: Shopping Centres Australasia Property Group
50 Pitt Street,
Level 5,
Sydney,
New South Wales, 2000,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX SCP Stapled Units Australian Securities Exchange AU AUD 26. Nov 2012
OTCPK SCPA.F Stapled Units Pink Sheets LLC US USD 26. Nov 2012
CHIA SCP Stapled Units Chi-X Australia AU AUD 26. Nov 2012
Number of employees
Current staff
Staff numbers
0
Shopping Centres Australasia Property Group employees.
Industry
Retail REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/24 10:34
End of day share price update: 2019/04/24 00:00
Last estimates confirmation: 2019/04/17
Last earnings filing: 2019/02/04
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.