Shopping Centres Australasia Property Group
Market Cap
AU$2.4b
Last Updated
2020/09/17 19:09 UTC
Data Sources
Company Financials +
Executive Summary
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. More Details
Rewards
Risk Analysis
Snowflake Analysis
Second-rate dividend payer and slightly overvalued.
Similar Companies
Share Price & News
How has Shopping Centres Australasia Property Group's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: SCP has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
0.9%
SCP
2.7%
AU REITs
-0.1%
AU Market
1 Year Return
-12.8%
SCP
-15.7%
AU REITs
-12.0%
AU Market
Return vs Industry: SCP exceeded the Australian REITs industry which returned -15.5% over the past year.
Return vs Market: SCP underperformed the Australian Market which returned -10.5% over the past year.
Shareholder returns
| SCP | Industry | Market | |
|---|---|---|---|
| 7 Day | 0.9% | 2.7% | -0.1% |
| 30 Day | 4.2% | 4.3% | -2.9% |
| 90 Day | -5.1% | 3.6% | 1.1% |
| 1 Year | -8.4%-12.8% | -12.2%-15.7% | -8.7%-12.0% |
| 3 Year | 16.9%-0.9% | 21.2%4.8% | 17.7%2.6% |
| 5 Year | 52.8%15.7% | 50.4%17.1% | 44.5%14.1% |
Price Volatility Vs. Market
How volatile is Shopping Centres Australasia Property Group's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 month ago | Simply Wall St
Shopping Centres Australasia Property Group's (ASX:SCP) Shareholders Are Down 11% On Their Shares2 months ago | Simply Wall St
Need To Know: Shopping Centres Australasia Property Group (ASX:SCP) Insiders Have Been Selling Shares5 months ago | Simply Wall St
How Many Shopping Centres Australasia Property Group (ASX:SCP) Shares Do Institutions Own?Valuation
Is Shopping Centres Australasia Property Group undervalued compared to its fair value and its price relative to the market?
23.9%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: SCP (A$2.25) is trading below our estimate of fair value (A$2.96)
Significantly Below Fair Value: SCP is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: SCP is poor value based on its PE Ratio (25.3x) compared to the AU REITs industry average (15.8x).
PE vs Market: SCP is poor value based on its PE Ratio (25.3x) compared to the Australian market (19.9x).
Price to Earnings Growth Ratio
PEG Ratio: SCP is poor value based on its PEG Ratio (2x)
Price to Book Ratio
PB vs Industry: SCP's PB Ratio (1x) is in line with the AU REITs industry average.
Next Steps
Future Growth
How is Shopping Centres Australasia Property Group forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?
12.6%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: SCP's forecast earnings growth (12.6% per year) is above the savings rate (2.3%).
Earnings vs Market: SCP's earnings (12.6% per year) are forecast to grow slower than the Australian market (19.2% per year).
High Growth Earnings: SCP's earnings are forecast to grow, but not significantly.
Revenue vs Market: SCP's revenue (1.6% per year) is forecast to grow slower than the Australian market (4.4% per year).
High Growth Revenue: SCP's revenue (1.6% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: SCP's Return on Equity is forecast to be low in 3 years time (7%).
Next Steps
Past Performance
How has Shopping Centres Australasia Property Group performed over the past 5 years?
-7.8%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: SCP has a large one-off loss of A$87.9M impacting its June 30 2020 financial results.
Growing Profit Margin: SCP's current net profit margins (29.2%) are lower than last year (40.5%).
Past Earnings Growth Analysis
Earnings Trend: SCP's earnings have declined by 7.8% per year over the past 5 years.
Accelerating Growth: SCP's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: SCP had negative earnings growth (-22.2%) over the past year, making it difficult to compare to the REITs industry average (6.8%).
Return on Equity
High ROE: SCP's Return on Equity (3.6%) is considered low.
Next Steps
Financial Health
How is Shopping Centres Australasia Property Group's financial position?
Financial Position Analysis
Short Term Liabilities: SCP's short term assets (A$249.6M) do not cover its short term liabilities (A$341.1M).
Long Term Liabilities: SCP's short term assets (A$249.6M) do not cover its long term liabilities (A$874.6M).
Debt to Equity History and Analysis
Debt Level: SCP's debt to equity ratio (46.1%) is considered high.
Reducing Debt: SCP's debt to equity ratio has reduced from 53.4% to 46.1% over the past 5 years.
Debt Coverage: SCP's debt is not well covered by operating cash flow (13.5%).
Interest Coverage: SCP earns more interest than it pays, so coverage of interest payments is not a concern.
Balance Sheet
Next Steps
Dividend
What is Shopping Centres Australasia Property Group current dividend yield, its reliability and sustainability?
5.56%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: SCP's dividend (5.56%) is higher than the bottom 25% of dividend payers in the Australian market (2.36%).
High Dividend: SCP's dividend (5.56%) is low compared to the top 25% of dividend payers in the Australian market (5.7%).
Stability and Growth of Payments
Stable Dividend: SCP has been paying a dividend for less than 10 years and during this time payments have been volatile.
Growing Dividend: SCP's dividend payments have increased, but the company has only paid a dividend for 7 years.
Current Payout to Shareholders
Dividend Coverage: At its current payout ratio (98.7%), SCP's payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: SCP's dividends in 3 years are forecast to be covered by earnings (90.5% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
7.5yrs
Average management tenure
CEO
Anthony Michael Mellowes
7.83yrs
Tenure
AU$1,990,701
Compensation
Mr. Anthony Michael Grainger Mellowes serves as the Chief Executive Officer at Shopping Centres Australasia Property Group Re Limited, a Responsible Entity of Shopping Centres Australasia Property Group si ...
CEO Compensation Analysis
Compensation vs Market: Anthony Michael's total compensation ($USD1.46M) is about average for companies of similar size in the Australian market ($USD1.37M).
Compensation vs Earnings: Anthony Michael's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Executive Director of Shopping Centres Australasia Property Group RE Limited | 7.83yrs | AU$1.99m | 0.13% A$ 3.0m | |
| CFO, Head of Investor Relations & Director of Shopping Centres Australasia Property Group RE Limited | 5.33yrs | AU$1.14m | 0.037% A$ 906.4k | |
| General Counsel & Company Secretary of Shopping Centres Australasia Property Group RE Limited | 8yrs | AU$816.47k | no data | |
| Chief Investment Officer | no data | no data | no data | |
| Senior Legal Counsel & Company Secretary of Shopping Centres Australasia Property Group Re Limited | 0.58yr | no data | no data |
7.5yrs
Average Tenure
Experienced Management: SCP's management team is seasoned and experienced (7.5 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Executive Director of Shopping Centres Australasia Property Group RE Limited | 7.83yrs | AU$1.99m | 0.13% A$ 3.0m | |
| CFO, Head of Investor Relations & Director of Shopping Centres Australasia Property Group RE Limited | 5.33yrs | AU$1.14m | 0.037% A$ 906.4k | |
| Independent Non-Executive Deputy Chair of Shopping Centres Australasia Property Group RE Limited | no data | AU$83.43k | 0.0083% A$ 200.1k | |
| Independent Chairman of Shopping Centres Australasia Property Group Re Limited | 8yrs | AU$333.85k | 0.019% A$ 452.5k | |
| Independent Non-Executive Director of Shopping Centres Australasia Property Group RE Limited | 8yrs | AU$163.24k | 0.0082% A$ 197.7k | |
| Independent Non-Executive Director of Shopping Centres Australasia Property Group RE Limited | 5.67yrs | AU$157.67k | 0.0033% A$ 80.7k | |
| Independent Non-Executive Director of Shopping Centres Australasia Property Group RE Limited | 1.75yrs | AU$83.43k | 0.0017% A$ 42.1k | |
| Independent Non-Executive Director of Shopping Centres Australasia Property Group Re Limited | 8yrs | AU$169.26k | 0.0058% A$ 140.5k |
7.9yrs
Average Tenure
Experienced Board: SCP's board of directors are considered experienced (7.9 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.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 15.5%.
Top Shareholders
Company Information
Shopping Centres Australasia Property Group's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Shopping Centres Australasia Property Group
- Ticker: SCP
- Exchange: ASX
- Founded: 2012
- Industry: Retail REITs
- Sector: Real Estate
- Market Cap: AU$2.422b
- Shares outstanding: 1.08b
- Website: https://www.scaproperty.com.au
Location
- Shopping Centres Australasia Property Group
- 50 Pitt Street
- Level 5
- Sydney
- New South Wales
- 2000
- Australia
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| SCP | ASX (Australian Securities Exchange) | Yes | Stapled Units | AU | AUD | Nov 2012 |
| SCPA.F | OTCPK (Pink Sheets LLC) | Yes | Stapled Units | US | USD | Nov 2012 |
| SCP | CHIA (Chi-X Australia) | Yes | Stapled Units | AU | AUD | Nov 2012 |
Biography
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 Proper ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/09/17 19:09 |
| End of Day Share Price | 2020/09/17 00:00 |
| Earnings | 2020/06/30 |
| Annual Earnings | 2020/06/30 |
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.