ENXTBR:CPINV

Stock Analysis Report

Executive Summary

Serviceflats Invest NV, a real estate investment company, builds and finances residences for elderly residents.


Snowflake Analysis

Established dividend payer with limited growth.

Share Price & News

How has Care Property Invest's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: CPINV's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

2.3%

CPINV

7.6%

BE REITs

0.4%

BE Market


1 Year Return

11.7%

CPINV

-4.7%

BE REITs

-28.6%

BE Market

Return vs Industry: CPINV exceeded the Belgian REITs industry which returned -4.7% over the past year.

Return vs Market: CPINV exceeded the Belgian Market which returned -28.6% over the past year.


Shareholder returns

CPINVIndustryMarket
7 Day2.3%7.6%0.4%
30 Day-15.8%-20.1%-21.1%
90 Day-8.2%-15.8%-31.5%
1 Year17.3%11.7%-1.7%-4.7%-27.1%-28.6%
3 Year49.4%33.5%27.1%11.8%-34.2%-38.6%
5 Year89.2%57.1%41.5%14.6%-34.5%-42.1%

Price Volatility Vs. Market

How volatile is Care Property Invest's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Care Property Invest undervalued compared to its fair value and its price relative to the market?

20.19x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: CPINV (€26.7) is trading above our estimate of fair value (€25.17)

Significantly Below Fair Value: CPINV is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: CPINV is poor value based on its PE Ratio (20.2x) compared to the REITs industry average (11x).

PE vs Market: CPINV is poor value based on its PE Ratio (20.2x) compared to the Belgian market (13.1x).


Price to Earnings Growth Ratio

PEG Ratio: CPINV is poor value based on its PEG Ratio (17.1x)


Price to Book Ratio

PB vs Industry: CPINV is overvalued based on its PB Ratio (2x) compared to the BE REITs industry average (1x).


Next Steps

Future Growth

How is Care Property Invest forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

1.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CPINV's forecast earnings growth (1.2% per year) is above the savings rate (0.7%).

Earnings vs Market: CPINV's earnings (1.2% per year) are forecast to grow slower than the Belgian market (6.4% per year).

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

Revenue vs Market: CPINV's revenue (6.3% per year) is forecast to grow faster than the Belgian market (2.2% per year).

High Growth Revenue: CPINV's revenue (6.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CPINV's Return on Equity is forecast to be low in 3 years time (9.3%).


Next Steps

Past Performance

How has Care Property Invest performed over the past 5 years?

35.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CPINV has a large one-off gain of €7.1M impacting its December 31 2019 financial results.

Growing Profit Margin: CPINV's current net profit margins (91.4%) are higher than last year (91.1%).


Past Earnings Growth Analysis

Earnings Trend: CPINV has become profitable over the past 5 years, growing earnings by 35.7% per year.

Accelerating Growth: CPINV's earnings growth over the past year (17.2%) is below its 5-year average (35.7% per year).

Earnings vs Industry: CPINV earnings growth over the past year (17.2%) underperformed the REITs industry 17.2%.


Return on Equity

High ROE: CPINV's Return on Equity (10.1%) is considered low.


Next Steps

Financial Health

How is Care Property Invest's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: CPINV has a high level of physical assets or inventory.

Debt Coverage by Assets: CPINV's debt is not covered by short term assets (assets are 0x debt).


Financial Institutions Analysis

Asset Level: CPINV's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if CPINV has a sufficient allowance for bad loans.

Low Risk Liabilities: CPINV reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if CPINV has an acceptable proportion of non-loan assets held.

Low Risk Deposits: CPINV has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if CPINV has an appropriate level of bad loans.


Next Steps

Dividend

What is Care Property Invest's current dividend yield, its reliability and sustainability?

2.88%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: CPINV's dividend (2.88%) is higher than the bottom 25% of dividend payers in the Belgian market (2.61%).

High Dividend: CPINV's dividend (2.88%) is low compared to the top 25% of dividend payers in the Belgian market (6.3%).


Stability and Growth of Payments

Stable Dividend: CPINV's dividends per share have been stable in the past 10 years.

Growing Dividend: CPINV's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (46.7%), CPINV's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CPINV's dividends in 3 years are forecast to be thoroughly covered by earnings (3.6% payout ratio).


Next Steps

Management

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

12.3yrs

Average board tenure


CEO

Peter Van Heukelom (64yo)

no data

Tenure

€531,888

Compensation

Mr. Peter Van Heukelom serves as CEO at Care Property Invest NV and also serves as its Chairman of the Board since 2019. He served as the General Manager at Care Property Invest since April 1, 2010 and ser ...


CEO Compensation Analysis

Compensation vs Market: Peter's total compensation ($USD589.74K) is about average for companies of similar size in the Belgian market ($USD594.24K).

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


Board Members

NamePositionTenureCompensationOwnership
Peter Van Heukelom
Chairman & CEOno data€531.89kno data
Willy Pintens
Executive Director18.83yrs€16.75kno data
Dirk Ernestus Van den Broeck
Executive Directorno data€15.25kno data
Mark Suykens
Chairman of the Boardno data€26.50kno data
Myriam Lint
Non-Executive Director15.83yrs€7.38kno data
Paul Van Gorp
Non-Executive Independent Directorno data€17.75kno data
Lode De Vrieze
Non-Executive Director8.83yrs€6.88kno data
Brigitte Grouwels
Non-Executive Independent Directorno data€17.25kno data
Caroline Riské
Non-Executive Independent Directorno data€16.75kno data
Kristien Van der Hasselt
Non-Executive Directorno data€6.88kno data

12.3yrs

Average Tenure

63.5yo

Average Age

Experienced Board: CPINV's board of directors are seasoned and experienced ( 12.3 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.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 5.5%.


Top Shareholders

Company Information

Care Property Invest NV's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Care Property Invest NV
  • Ticker: CPINV
  • Exchange: ENXTBR
  • Founded: 1995
  • Industry: Residential REITs
  • Sector: Real Estate
  • Market Cap: €577.774m
  • Shares outstanding: 21.64m
  • Website: https://carepropertyinvest.be

Number of Employees


Location

  • Care Property Invest NV
  • Horstebaan 3
  • Schoten
  • Antwerp
  • 2900
  • Belgium

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CPINVENXTBR (Euronext Brussels)YesCommon SharesBEEURJan 2007
0R6HLSE (London Stock Exchange)YesCommon SharesGBEURJan 2007

Biography

Serviceflats Invest NV, a real estate investment company, builds and finances residences for elderly residents. It engages in the letting of furnished retirement flats with a net floor area of approximately 54 square meters. The company is based in Antwerpen, Belgium. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/28 21:21
End of Day Share Price2020/03/27 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.