Intervest Offices & Warehouses nv, (hereinafter Intervest), is a public regulated real estate company (RREC) founded in 1996 of which the shares are listed on Euronext Brussels (INTO) as from 1999.
Price History & Performance
|Historical stock prices|
|Current Share Price||€26.05|
|52 Week High||€20.10|
|52 Week Low||€26.50|
|1 Month Change||6.54%|
|3 Month Change||4.62%|
|1 Year Change||22.88%|
|3 Year Change||13.51%|
|5 Year Change||10.76%|
|Change since IPO||0.19%|
Recent News & Updates
Share Price Aside, Intervest Offices & Warehouses (EBR:INTO) Has Delivered Shareholders A 8.3% Return.
Ideally, your overall portfolio should beat the market average. A talented investor can beat the market with a...
|INTO||BE REITs||BE Market|
Return vs Industry: INTO underperformed the Belgian REITs industry which returned 25.9% over the past year.
Return vs Market: INTO underperformed the Belgian Market which returned 27.6% over the past year.
Stable Share Price: INTO is not significantly more volatile than the rest of Belgian stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: INTO's weekly volatility (3%) has been stable over the past year.
About the Company
Intervest Offices & Warehouses nv, (hereinafter Intervest), is a public regulated real estate company (RREC) founded in 1996 of which the shares are listed on Euronext Brussels (INTO) as from 1999. Intervest invests in high-quality Belgian office buildings and logistics properties that are leased to first-class tenants. The properties in which Intervest invests, consist primarily of up-to-date buildings that are strategically located in the city centre and outside municipal centres.
Intervest Offices & Warehouses Fundamentals Summary
|INTO fundamental statistics|
Is INTO overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|INTO income statement (TTM)|
|Cost of Revenue||€8.65m|
Last Reported Earnings
Jun 30, 2021
Next Earnings Date
Nov 08, 2021
|Earnings per share (EPS)||2.90|
|Net Profit Margin||118.22%|
How did INTO perform over the long term?See historical performance and comparison
5.9%Current Dividend Yield
Is Intervest Offices & Warehouses undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: INTO (€26.05) is trading below our estimate of fair value (€40.61)
Significantly Below Fair Value: INTO is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: INTO is good value based on its PE Ratio (9x) compared to the Belgian REITs industry average (11.7x).
PE vs Market: INTO is good value based on its PE Ratio (9x) compared to the Belgian market (14.8x).
Price to Earnings Growth Ratio
PEG Ratio: INTO's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: INTO's PB Ratio (1.2x) is in line with the BE REITs industry average.
How is Intervest Offices & Warehouses forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: INTO's earnings are forecast to decline over the next 3 years (-12.9% per year).
Earnings vs Market: INTO's earnings are forecast to decline over the next 3 years (-12.9% per year).
High Growth Earnings: INTO's earnings are forecast to decline over the next 3 years.
Revenue vs Market: INTO's revenue (5.9% per year) is forecast to grow slower than the Belgian market (6.7% per year).
High Growth Revenue: INTO's revenue (5.9% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: INTO's Return on Equity is forecast to be low in 3 years time (7.3%).
How has Intervest Offices & Warehouses performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: INTO has a large one-off gain of €48.7M impacting its June 30 2021 financial results.
Growing Profit Margin: INTO's current net profit margins are higher than last year (95.1%).
Past Earnings Growth Analysis
Earnings Trend: INTO's earnings have grown significantly by 26.4% per year over the past 5 years.
Accelerating Growth: INTO's earnings growth over the past year (31.1%) exceeds its 5-year average (26.4% per year).
Earnings vs Industry: INTO earnings growth over the past year (31.1%) underperformed the REITs industry 71.3%.
Return on Equity
High ROE: INTO's Return on Equity (13.7%) is considered low.
How is Intervest Offices & Warehouses's financial position?
Financial Position Analysis
Short Term Liabilities: INTO's short term assets (€32.4M) do not cover its short term liabilities (€129.4M).
Long Term Liabilities: INTO's short term assets (€32.4M) do not cover its long term liabilities (€402.2M).
Debt to Equity History and Analysis
Debt Level: INTO's debt to equity ratio (81.3%) is considered high.
Reducing Debt: INTO's debt to equity ratio has reduced from 95% to 81.3% over the past 5 years.
Debt Coverage: INTO's debt is not well covered by operating cash flow (9.1%).
Interest Coverage: INTO's interest payments on its debt are well covered by EBIT (5.1x coverage).
What is Intervest Offices & Warehouses's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: INTO's dividend (5.87%) is higher than the bottom 25% of dividend payers in the Belgian market (1.54%).
High Dividend: INTO's dividend (5.87%) is in the top 25% of dividend payers in the Belgian market (4.39%)
Stability and Growth of Payments
Stable Dividend: INTO's dividends per share have been stable in the past 10 years.
Growing Dividend: INTO's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (55%), INTO's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: INTO's dividends in 3 years are forecast to be covered by earnings (88% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Gunther Gielen (48 yo)
Mr. Gunther Gielen serves as Chief Executive Officer, Member of the Management Board and Chairman of the Management Board at Intervest Offices & Warehouses since February 1, 2020, and served as its Directo...
CEO Compensation Analysis
Compensation vs Market: Gunther's total compensation ($USD532.63K) is about average for companies of similar size in the Belgian market ($USD734.78K).
Compensation vs Earnings: Gunther's compensation has increased by more than 20% in the past year.
Experienced Management: INTO's management team is not considered experienced ( 1.4 years average tenure), which suggests a new team.
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.
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 3.1%.
Intervest Offices & Warehouses nv's employee growth, exchange listings and data sources
- Name: Intervest Offices & Warehouses nv
- Ticker: INTO
- Exchange: ENXTBR
- Founded: 1996
- Industry: Industrial REITs
- Sector: Real Estate
- Market Cap: €685.139m
- Shares outstanding: 26.30m
- Website: https://www.intervest.be
Number of Employees
- Intervest Offices & Warehouses nv
- Uitbreidingstraat 66
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/10/27 21:43|
|End of Day Share Price||2021/10/27 00:00|
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.