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Vitalharvest Freehold Trust

ASX:VTH
Snowflake Description

Moderate growth potential second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
VTH
ASX
A$175M
Market Cap
  1. Home
  2. AU
  3. Real Estate
Company description

Vitalharvest owns one of the largest aggregations of berry and citrus farms in Australia. The last earnings update was 360 days ago. More info.


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VTH Share Price and Events
7 Day Returns
-1%
ASX:VTH
0.8%
AU REITs
1.6%
AU Market
1 Year Returns
-
ASX:VTH
17.2%
AU REITs
5.3%
AU Market
VTH Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Vitalharvest Freehold Trust (VTH) -1% -2.1% -0.5% - - -
AU REITs 0.8% 2.4% 5.7% 17.2% 21.4% 63%
AU Market 1.6% 3.2% 8.3% 5.3% 28.1% 13.8%
1 Year Return vs Industry and Market
  • No trading data on VTH.
  • No trading data on VTH.
Price Volatility
Industry
5yr Volatility vs Market

Value

 Is Vitalharvest Freehold Trust 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 Vitalharvest Freehold Trust 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 Vitalharvest Freehold Trust.

ASX:VTH 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:VTH
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 0.49
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.494 (1 + (1- 30%) (30.89%))
0.733
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:VTH using 2 Stage Free Cash Flow to Equity using Funds From Operations Model

The calculations below outline how an intrinsic value for Vitalharvest Freehold Trust 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.

Vitalharvest Freehold Trust 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:VTH DCF 1st Stage: Next 10 year cash flow forecast
Funds From Operations (FFO) (AUD, Millions) Source Present Value
Discounted (@ 7.08%)
2019 13.90 Analyst x1 12.98
2020 18.80 Analyst x1 16.40
2021 17.30 Analyst x1 14.09
2022 18.66 Est @ 7.83% 14.19
2023 19.81 Est @ 6.18% 14.07
2024 20.80 Est @ 5.02% 13.80
2025 21.68 Est @ 4.21% 13.43
2026 22.47 Est @ 3.64% 13.00
2027 23.19 Est @ 3.24% 12.53
2028 23.88 Est @ 2.96% 12.05
Present value of next 10 years cash flows A$136.53
ASX:VTH DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= A$23.88 × (1 + 2.31%) ÷ (7.08% – 2.31%)
A$512.43
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= A$512.43 ÷ (1 + 7.08%)10
A$258.55
ASX:VTH Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= A$136.53 + A$258.55
A$395.08
Equity Value per Share
(AUD)
= Total value / Shares Outstanding
= A$395.08 / 185.00
A$2.14
ASX:VTH Discount to Share Price
Calculation Result
Value per share (AUD) From above. A$2.14
Current discount Discount to share price of A$0.95
= -1 x (A$0.95 - A$2.14) / A$2.14
55.5%

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

Current Discount
Amount off the current price Vitalharvest Freehold Trust is available for.
Intrinsic value
>50%
Share price is A$0.95 vs Future cash flow value of A$2.14
Current Discount Checks
For Vitalharvest Freehold Trust to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Vitalharvest Freehold Trust's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Vitalharvest Freehold Trust's share price is below the future cash flow value, and 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 Vitalharvest Freehold Trust's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Vitalharvest Freehold Trust's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ASX:VTH PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2017-12-31) in AUD Not available
ASX:VTH Share Price ** ASX (2019-06-24) in AUD A$0.95
Australia REITs Industry PE Ratio Median Figure of 38 Publicly-Listed REITs Companies 12.2x
Australia Market PE Ratio Median Figure of 545 Publicly-Listed Companies 16.25x

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

** Primary Listing of Vitalharvest Freehold Trust.

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

  • Unable to compare the PE ratio to the industry average as no data exists.
  • Unable to calculate PE ratio for Vitalharvest Freehold Trust, we can't compare the value of its earnings to the Australia market.
Price based on expected Growth
Does Vitalharvest Freehold Trust's expected growth come at a high price?
Raw Data
ASX:VTH PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 0x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
31%per year
Australia REITs Industry PEG Ratio Median Figure of 32 Publicly-Listed REITs Companies 1.08x
Australia Market PEG Ratio Median Figure of 359 Publicly-Listed Companies 1.4x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Vitalharvest Freehold Trust, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Vitalharvest Freehold Trust's assets?
Raw Data
ASX:VTH PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2017-12-31) in AUD Not available
ASX:VTH Share Price * ASX (2019-06-24) in AUD A$0.95
Australia REITs Industry PB Ratio Median Figure of 42 Publicly-Listed REITs Companies 1.15x
Australia Market PB Ratio Median Figure of 1,689 Publicly-Listed Companies 1.63x

* Primary Listing of Vitalharvest Freehold Trust.

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

  • Unable to compare the PB ratio to the industry average as no data exists.
X
Value checks
We assess Vitalharvest Freehold Trust'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. Vitalharvest Freehold Trust 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 Vitalharvest Freehold Trust 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
31%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Vitalharvest Freehold Trust expected to grow at an attractive rate?
  • Vitalharvest Freehold Trust's earnings growth is expected to exceed the low risk savings rate of 2.3%.
Growth vs Market Checks
  • Vitalharvest Freehold Trust's earnings growth is expected to exceed the Australia market average.
  • Vitalharvest Freehold Trust's revenue growth is positive but not above the Australia market average.
Annual Growth Rates Comparison
Raw Data
ASX:VTH Future Growth Rates Data Sources
Data Point Source Value (per year)
ASX:VTH Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 31%
ASX:VTH Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 0.1%
Australia REITs Industry Earnings Growth Rate Market Cap Weighted Average -3.6%
Australia REITs Industry Revenue Growth Rate Market Cap Weighted Average 0.2%
Australia Market Earnings Growth Rate Market Cap Weighted Average 7%
Australia Market Revenue Growth Rate Market Cap Weighted Average 3.4%

*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:VTH Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 year 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:VTH Future Estimates Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-06-30 23 18 17 1
2020-06-30 24 17 19 1
2019-06-30 21 16 5 1
2018-06-30
ASX:VTH Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2017-12-31 23 7
2017-09-30 21 6
2017-06-30 19 5
2016-06-30 19 10
2015-06-30 20 7

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Vitalharvest Freehold Trust's earnings are expected to grow significantly at over 20% yearly.
  • Vitalharvest Freehold Trust's revenue is expected to grow by 0.1% 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:VTH Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 year ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Vitalharvest Freehold Trust Company Filings, last reported 1 year ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:VTH Future Estimates Data
Date (Data in AUD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-06-30
2020-06-30
2019-06-30
2018-06-30
ASX:VTH Past Financials Data
Date (Data in AUD Millions) EPS *
2017-12-31
2017-09-30
2017-06-30
2016-06-30
2015-06-30

*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.
  • Vitalharvest Freehold Trust is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Vitalharvest Freehold Trust'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.
Vitalharvest Freehold Trust 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 Vitalharvest Freehold Trust performed over the past 5 years?

  • Vitalharvest Freehold Trust's last earnings update was 360 days ago.
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 Vitalharvest Freehold Trust'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.
  • Insufficient data to establish if Vitalharvest Freehold Trust's year on year earnings growth rate was positive over the past 5 years.
  • Vitalharvest Freehold Trust's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Vitalharvest Freehold Trust's 1-year earnings growth is negative, it can't be compared to the AU REITs industry average.
Earnings and Revenue History
Vitalharvest Freehold Trust'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 Vitalharvest Freehold Trust Company Filings, last reported 1 year ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:VTH Past Revenue, Cash Flow and Net Income Data
Date (Data in AUD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2017-12-31 23.40 6.90 0.30
2017-09-30 21.05 6.05 0.30
2017-06-30 18.70 5.20 0.30
2016-06-30 18.90 10.20 0.40
2015-06-30 19.70 6.50 0.30

*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.
  • Vitalharvest Freehold Trust has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Vitalharvest Freehold Trust used its assets less efficiently than the AU REITs industry average last year based on Return on Assets.
  • Unable to establish if Vitalharvest Freehold Trust improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Vitalharvest Freehold Trust'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.
Vitalharvest Freehold Trust has a total score of 0/6, 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 Vitalharvest Freehold Trust'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 Vitalharvest Freehold Trust's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Vitalharvest Freehold Trust is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Vitalharvest Freehold Trust's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Vitalharvest Freehold Trust'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.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.4x 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 Vitalharvest Freehold Trust Company Filings, last reported 1 year ago.

ASX:VTH Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2017-12-31 128.20 54.00 0.60
2017-09-30 128.20 54.00 0.60
2017-06-30
2016-06-30
2015-06-30
  • Vitalharvest Freehold Trust's level of debt (42.1%) compared to net worth is high (greater than 40%).
  • Unable to establish if Vitalharvest Freehold Trust's debt level has increased without past 5-year debt data.
  • Unable to verify if debt is well covered by operating cash flow as Vitalharvest Freehold Trust has not reported sufficient balance sheet data.
  • Vitalharvest Freehold Trust is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess Vitalharvest Freehold Trust'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. Vitalharvest Freehold Trust has a total score of 1/6, 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 Vitalharvest Freehold Trust'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
8.42%
Current annual income from Vitalharvest Freehold Trust dividends. Estimated to be 8.32% next year.
If you bought A$2,000 of Vitalharvest Freehold Trust shares you are expected to receive A$168 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?
  • Vitalharvest Freehold Trust's pays a higher dividend yield than the bottom 25% of dividend payers in Australia (2.58%).
  • Vitalharvest Freehold Trust's dividend is above the markets top 25% of dividend payers in Australia (5.79%).
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:VTH 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 4.4%
Australia Market Average Dividend Yield Market Cap Weighted Average of 416 Stocks 4.1%
Australia Minimum Threshold Dividend Yield 10th Percentile 1.6%
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:VTH Future Dividends Estimate Data
Date (Data in A$) Dividend per Share (annual) Avg. No. Analysts
2021-06-30 0.08 1.00
2020-06-30 0.09 1.00
2019-06-30 0.06 1.00
2018-06-30
ASX:VTH Past Annualized Dividends Data
Date (Data in A$) Dividend per share (annual) Avg. Yield (%)
2019-02-27 0.080 8.405

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

  • It is too early to tell whether Vitalharvest Freehold Trust has stable dividend payments.
  • Vitalharvest Freehold Trust only just started paying a dividend, it is too early to tell if payments are increasing.
Current Payout to shareholders
What portion of Vitalharvest Freehold Trust's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Vitalharvest Freehold Trust has not reported any payouts.
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (205.3x coverage).
X
Income/ dividend checks
We assess Vitalharvest Freehold Trust'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 Vitalharvest Freehold Trust afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Vitalharvest Freehold Trust 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 Vitalharvest Freehold Trust'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
Liam Lenaghan
CEO Bio

Mr. Liam Lenaghan serves as Managing Director and Director of Vitalharvest Freehold Trust. Mr. Lenaghan serves as a Director of goFARM Australia Pty Ltd. He is passionate about the business of agriculture and his career has progressed from applied research and extension, through to agronomy and farm management consultancy and on to leading private and institutional investment in Australian agricultural industries. Over the past 20 years, he has developed a mix of agricultural capabilities, agricultural market insight, transactional experience and financial expertise. He has worked in the areas of applied research and extension, agronomy and farm management consultancy. He is recognized as a strategic thinker who is capable of identifying and executing investment-grade opportunities whilst being critically attuned to the optimisation or risk and reward. He leads the goFARM group business, provides the direction for both the Asset Management and Investment Teams at the goFARM Group, has developed the research and strategy methodology, leads investor relations and is the lead negotiator for all transactions. He was director of DRAPAC Agricultural and General Manager Agribusiness, Warakirri Asset Management. He has built a reputation as an astute agricultural investor and manager. In 2009/10, he identified and transacted a rural water investment opportunity netting a 55% return on investment in nine months. In 2011/12, representing an institutional investor, he was responsible for unlocking an additional 10% of portfolio value by initiating and executing a strategic restructure of a $100M+ grain portfolio. In what was generally considered a difficult market, he was able to unlock value on both the buy-side and sell-side relative to independent valuations. Mr. Lenaghan holds a Bachelor of Agricultural Science (Hons.) and a Graduate Diploma of Applied Finance and Investment.

CEO Compensation
  • Insufficient data for Liam to compare compensation growth.
  • Insufficient data for Liam to establish whether their remuneration is reasonable compared to companies of similar size in Australia.
Management Team

Liam Lenaghan

TITLE
Managing Director

Richard Bligh

TITLE
Chief Operating Officer

Rhonda Arnott

TITLE
General Counsel

Michael Vainauskas

TITLE
Executive Director of the Trust Company (RE Services) Limited

Glenn Foster

TITLE
Executive Director of the Trust Company (RE Services) Limited

Vicki Riggio

TITLE
Executive Director of the Trust Company (RE Services) Limited

Richard McCarthy

TITLE
Executive Director of the Trust Company (RE Services) Limited

Nick Raleigh

TITLE
Chief Farming Officer

Eleanor Padman

TITLE
Company Secretary of Trust Company (RE Services) Limited

Sylvie DiMarco

TITLE
Company Secretary of the Trust Company (RE Services) Limited
Board of Directors Tenure

Average tenure of the Vitalharvest Freehold Trust board of directors in years:

1.8
Average Tenure
  • The average tenure for the Vitalharvest Freehold Trust board of directors is less than 3 years, this suggests a new board.
Board of Directors

Michael Vainauskas

TITLE
Executive Director of the Trust Company (RE Services) Limited
TENURE
4.3 yrs

Glenn Foster

TITLE
Executive Director of the Trust Company (RE Services) Limited
TENURE
3.9 yrs

Vicki Riggio

TITLE
Executive Director of the Trust Company (RE Services) Limited
TENURE
1.1 yrs

Richard McCarthy

TITLE
Executive Director of the Trust Company (RE Services) Limited
TENURE
0.7 yrs

Andrew McIver

TITLE
Alternate Director of the Trust Company (RE Services) Limited
TENURE
2.4 yrs

Phillip Blackmore

TITLE
Alternate Director of the Trust Company (RE Services) Limited
TENURE
0.9 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (A$) Value (A$)
06. Mar 19 Sell IFM Investors Pty Ltd Company 20. Nov 18 03. Apr 19 -3,796,394 A$1.01 A$-3,588,863
26. Nov 18 Buy Lennox Capital Partners Company 09. Nov 18 22. Nov 18 1,934,641 A$1.01 A$1,858,875
12. Nov 18 Buy Lennox Capital Partners Company 03. Aug 18 03. Aug 18 4,000,000 A$1.00 A$3,999,999
12. Nov 18 Sell Lennox Capital Partners Company 06. Aug 18 13. Sep 18 -1,178,174 A$1.00 A$-1,124,600
29. Aug 18 Buy Auscap Asset Management Limited Company 03. Aug 18 27. Aug 18 3,400,000 A$0.99 A$3,349,001
02. Aug 18 Buy IFM Investors Pty Ltd Company 31. Jul 18 31. Jul 18 14,000,000 A$1.00 A$13,999,997
X
Management checks
We assess Vitalharvest Freehold Trust'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. Vitalharvest Freehold Trust 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

Can We See Significant Institutional Ownership On The Vitalharvest Freehold Trust (ASX:VTH) Share Register?

If you want to know who really controls Vitalharvest Freehold Trust (ASX:VTH), then you'll have to look at the makeup of its share registry. … Generally speaking, as a company grows, institutions will increase their ownership. … Vitalharvest Freehold Trust is not a large company by global standards.

Simply Wall St -

Company Info

Description

Vitalharvest owns one of the largest aggregations of berry and citrus farms in Australia. These are located in prime growing locations in New South Wales, South Australia and Tasmania and leased to Costa Group (ASX:CGC). Vitalharvest provides investors with exposure to agricultural property assets whose earnings profile and underlying value are exposed to the growing global agricultural demand for nutritious, healthy food. These assets provide agricultural diversification by way of crop type, climatic region, water source and product end markets. Vitalharvest is an agricultural real estate investment trust managed by goFARM Asset Management. The Trust Company (RE Services) Limited (ABN 45 003 278 831 AFS Licence 235150) is the Responsible Entity of Vitalharvest Freehold Trust ARSN 626 537 362.

Details
Name: Vitalharvest Freehold Trust
VTH
Exchange: ASX
Founded:
A$174,825,000
185,000,000
Website: http://www.vitalharvest.com.au
Address: Vitalharvest Freehold Trust
Angel Place,
Level 18,
Sydney,
New South Wales, 2001,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX VTH Trust Units Australian Securities Exchange AU AUD 01. Aug 2018
Number of employees
Current staff
Staff numbers
0
Vitalharvest Freehold Trust employees.
Industry
Specialized REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/24 10:43
End of day share price update: 2019/06/24 00:00
Last estimates confirmation: 2019/02/28
Last earnings filing: 2018/06/29
Last earnings reported: 2017/12/31
Last annual earnings reported: 2017/06/30


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.