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Shopping Centres Australasia Property Group

Market Cap

AU$2.6b

Last Updated

2021/05/13 08:04 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


Snowflake Analysis

Average 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 is less volatile than 75% of Australian stocks over the past 3 months, typically moving +/- 3% a week.

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


Market Performance


7 Day Return

-2.8%

SCP

-1.6%

AU REITs

-0.7%

AU Market


1 Year Return

12.2%

SCP

30.4%

AU REITs

35.4%

AU Market

Return vs Industry: SCP underperformed the Australian REITs industry which returned 30.4% over the past year.

Return vs Market: SCP underperformed the Australian Market which returned 35.4% over the past year.


Shareholder returns

SCPIndustryMarket
7 Day-2.8%-1.6%-0.7%
30 Day-6.6%1.1%0.8%
90 Day-0.4%5.6%2.5%
1 Year17.2%12.2%35.5%30.4%39.6%35.4%
3 Year20.6%3.0%31.2%13.9%30.2%14.8%
5 Year38.8%5.7%42.4%11.2%61.7%31.7%

Long-Term 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

Valuation

Is Shopping Centres Australasia Property Group undervalued compared to its fair value and its price relative to the market?

40.3%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: SCP (A$2.4) is trading below our estimate of fair value (A$4.02)

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 Australian REITs industry average (18.9x).

PE vs Market: SCP is poor value based on its PE Ratio (25.3x) compared to the Australian market (20.1x).


Price to Earnings Growth Ratio

PEG Ratio: SCP is poor value based on its PEG Ratio (1.8x)


Price to Book Ratio

PB vs Industry: SCP is overvalued based on its PB Ratio (232.8x) compared to the AU REITs industry average (1.1x).


Future Growth

How is Shopping Centres Australasia Property Group forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?

14.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SCP's forecast earnings growth (14.4% per year) is above the savings rate (1.9%).

Earnings vs Market: SCP's earnings (14.4% per year) are forecast to grow faster than the Australian market (13.3% per year).

High Growth Earnings: SCP's earnings are forecast to grow, but not significantly.

Revenue vs Market: SCP's revenue (3.6% per year) is forecast to grow slower than the Australian market (4.9% per year).

High Growth Revenue: SCP's revenue (3.6% 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 (7.3%).


Past Performance

How has Shopping Centres Australasia Property Group performed over the past 5 years?

-16.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SCP has a large one-off loss of A$38.5M impacting its December 31 2020 financial results.

Growing Profit Margin: SCP's current net profit margins (34.4%) are lower than last year (54.5%).


Past Earnings Growth Analysis

Earnings Trend: SCP's earnings have declined by 16.8% 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 (-38.7%) over the past year, making it difficult to compare to the REITs industry average (-1.2%).


Return on Equity

High ROE: SCP's Return on Equity (4%) is considered low.


Financial Health

How is Shopping Centres Australasia Property Group's financial position?


Financial Position Analysis

Short Term Liabilities: SCP's short term assets (A$58.3M) do not cover its short term liabilities (A$122.6M).

Long Term Liabilities: SCP's short term assets (A$58.3M) do not cover its long term liabilities (A$1.1B).


Debt to Equity History and Analysis

Debt Level: SCP's debt to equity ratio (43.7%) is considered high.

Reducing Debt: SCP's debt to equity ratio has reduced from 56.6% to 43.7% over the past 5 years.

Debt Coverage: SCP's debt is not well covered by operating cash flow (12.3%).

Interest Coverage: SCP's interest payments on its debt are not well covered by EBIT (2.7x coverage).


Balance Sheet


Dividend

What is Shopping Centres Australasia Property Group current dividend yield, its reliability and sustainability?

5.21%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: SCP's dividend (5.21%) is higher than the bottom 25% of dividend payers in the Australian market (2.11%).

High Dividend: SCP's dividend (5.21%) is in the top 25% of dividend payers in the Australian market (5.19%)


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 8 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (91.8%), 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 (88% payout ratio).


Next Steps

Management

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

8.1yrs

Average management tenure


CEO

Anthony Michael Mellowes

8.5yrs

Tenure

AU$1,466,968

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 ($USD1.14M) is about average for companies of similar size in the Australian market ($USD1.29M).

Compensation vs Earnings: Anthony Michael's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: SCP's management team is seasoned and experienced (8.1 years average tenure).


Board Members

Experienced Board: SCP's board of directors are considered experienced (7.5 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: SCP insiders have sold more shares than they have bought 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 2.1%.


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$2.624b
  • 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


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

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/05/13 08:04
End of Day Share Price2021/05/13 00:00
Earnings2020/12/31
Annual Earnings2020/06/30


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.