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Montea Comm. VA

ENXTBR:MONT
Snowflake Description

Proven track record average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MONT
ENXTBR
€1B
Market Cap
  1. Home
  2. BE
  3. Real Estate
Company description

Montea Comm. VA is a public property investment company (PPIC – SIIC) under Belgian law specialising in logistical property in Belgium, France and the Netherlands, where the company is a benchmark player. The last earnings update was 61 days ago. More info.


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MONT Share Price and Events
7 Day Returns
-2.9%
ENXTBR:MONT
-1.6%
BE REITs
1%
BE Market
1 Year Returns
70.7%
ENXTBR:MONT
14.4%
BE REITs
-3.9%
BE Market
MONT Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Montea Comm. VA (MONT) -2.9% 4.5% 24.3% 70.7% 94.5% 133.5%
BE REITs -1.6% -0.2% 10.5% 14.4% 19.6% 44.7%
BE Market 1% 7.5% 15.2% -3.9% -10.4% 11.6%
1 Year Return vs Industry and Market
  • MONT outperformed the REITs industry which returned 14.4% over the past year.
  • MONT outperformed the Market in Belgium which returned -3.9% over the past year.
Price Volatility
MONT
Industry
5yr Volatility vs Market

MONT Value

 Is Montea Comm. VA 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 Montea Comm. VA 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 Montea Comm. VA.

ENXTBR:MONT Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.2%
Perpetual Growth Rate 10-Year BE Government Bond Rate 0.8%

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 ENXTBR:MONT
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year BE Govt Bond Rate 0.8%
Equity Risk Premium S&P Global 6.8%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.54
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.537 (1 + (1- 29%) (40.42%))
0.793
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)
= 0.77% + (0.8 * 6.8%)
6.21%

Discounted Cash Flow Calculation for ENXTBR:MONT using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Montea Comm. VA 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.

ENXTBR:MONT DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 6.21%)
2019 48.42 Est @ -12.31% 45.59
2020 44.36 Est @ -8.39% 39.32
2021 41.85 Est @ -5.64% 34.93
2022 40.30 Est @ -3.72% 31.67
2023 39.34 Est @ -2.37% 29.11
2024 38.78 Est @ -1.43% 27.02
2025 38.48 Est @ -0.77% 25.24
2026 38.36 Est @ -0.31% 23.69
2027 38.37 Est @ 0.02% 22.31
2028 38.46 Est @ 0.24% 21.06
Present value of next 10 years cash flows €299.93
ENXTBR:MONT DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €38.46 × (1 + 0.77%) ÷ (6.21% – 0.77%)
€712.48
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €712.48 ÷ (1 + 6.21%)10
€390.05
ENXTBR:MONT Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €299.93 + €390.05
€689.98
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €689.98 / 15.66
€44.05
ENXTBR:MONT Discount to Share Price
Calculation Result
Value per share (EUR) From above. €44.05
Current discount Discount to share price of €74.60
= -1 x (€74.60 - €44.05) / €44.05
-69.3%

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

  • The current share price of Montea Comm. VA is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Montea Comm. VA's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Montea Comm. VA's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ENXTBR:MONT PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €5.34
ENXTBR:MONT Share Price ** ENXTBR (2019-04-23) in EUR €74.6
Belgium REITs Industry PE Ratio Median Figure of 16 Publicly-Listed REITs Companies 15.79x
Belgium Market PE Ratio Median Figure of 86 Publicly-Listed Companies 16.57x

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

** Primary Listing of Montea Comm. VA.

ENXTBR:MONT PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTBR:MONT Share Price ÷ EPS (both in EUR)

= 74.6 ÷ 5.34

13.98x

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

  • Montea Comm. VA is good value based on earnings compared to the BE REITs industry average.
  • Montea Comm. VA is good value based on earnings compared to the Belgium market.
Price based on expected Growth
Does Montea Comm. VA's expected growth come at a high price?
Raw Data
ENXTBR:MONT PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 13.98x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
Not available
Belgium REITs Industry PEG Ratio Median Figure of 5 Publicly-Listed REITs Companies 0.88x
Belgium Market PEG Ratio Median Figure of 40 Publicly-Listed Companies 1.58x

*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 Montea Comm. VA, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Montea Comm. VA's assets?
Raw Data
ENXTBR:MONT PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €33.83
ENXTBR:MONT Share Price * ENXTBR (2019-04-23) in EUR €74.6
Belgium REITs Industry PB Ratio Median Figure of 16 Publicly-Listed REITs Companies 1.25x
Belgium Market PB Ratio Median Figure of 119 Publicly-Listed Companies 1.51x
ENXTBR:MONT PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTBR:MONT Share Price ÷ Book Value per Share (both in EUR)

= 74.6 ÷ 33.83

2.2x

* Primary Listing of Montea Comm. VA.

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

  • Montea Comm. VA is overvalued based on assets compared to the BE REITs industry average.
X
Value checks
We assess Montea Comm. VA'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. Montea Comm. VA 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.

MONT Future Performance

 How is Montea Comm. VA expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

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
11.9%
Expected annual growth in earnings per share.
Earnings growth vs Low Risk Savings
Is Montea Comm. VA expected to grow at an attractive rate?
  • Montea Comm. VA's earnings growth is expected to exceed the low risk savings rate of 0.8%.
Growth vs Market Checks
  • Montea Comm. VA's earnings growth is positive but not above the Belgium market average.
  • Montea Comm. VA's revenue growth is expected to exceed the Belgium market average.
Annual Growth Rates Comparison
Raw Data
ENXTBR:MONT Future Growth Rates Data Sources
Data Point Source Value (per year)
ENXTBR:MONT Future Earnings per Share Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 11.9%
ENXTBR:MONT Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 9%
Belgium REITs Industry Earnings Growth Rate Market Cap Weighted Average 4.6%
Belgium REITs Industry Revenue Growth Rate Market Cap Weighted Average 6.3%
Belgium Market Earnings Growth Rate Market Cap Weighted Average 16.1%
Belgium Market Revenue Growth Rate Market Cap Weighted Average 2.8%

*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
ENXTBR:MONT Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ENXTBR:MONT Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 79 1
2020-12-31 72 1
2019-12-31 62 1
ENXTBR:MONT Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 62 56 65
2018-09-30 57 58
2018-06-30 55 50 52
2018-03-31 52 39
2017-12-31 52 67 37
2017-09-30 50 50
2017-06-30 50 50 39
2017-03-31 49 37
2016-12-31 48 29 32
2016-09-30 48 22
2016-06-30 47 34 21
2016-03-31 45 26

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Montea Comm. VA's earnings are expected to grow by 11.9% yearly, however this is not considered high growth (20% yearly).
  • Montea Comm. VA's revenue is expected to grow by 9% 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
ENXTBR:MONT Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Montea Comm. VA Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTBR:MONT Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 7.78 7.78 7.78 1.00
2020-12-31 7.01 7.01 7.01 1.00
2019-12-31 6.65 6.65 6.65 1.00
ENXTBR:MONT Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 5.34
2018-09-30 5.02
2018-06-30 4.60
2018-03-31 3.60
2017-12-31 3.52
2017-09-30 4.87
2017-06-30 3.94
2017-03-31 3.77
2016-12-31 3.31
2016-09-30 2.28
2016-06-30 2.28
2016-03-31 2.82

*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.
  • Montea Comm. VA is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Montea Comm. VA'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 Belgium market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Belgium 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.
Montea Comm. VA has a total score of 2/6, 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.

MONT Past Performance

  How has Montea Comm. VA performed over the past 5 years?

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 Montea Comm. VA'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.
  • Montea Comm. VA has delivered over 20% year on year earnings growth in the past 5 years.
  • Montea Comm. VA's 1-year earnings growth exceeds its 5-year average (76.7% vs 37.5%)
  • Montea Comm. VA's earnings growth has exceeded the BE REITs industry average in the past year (76.7% vs 3.9%).
Earnings and Revenue History
Montea Comm. VA'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 Montea Comm. VA Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTBR:MONT Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 61.57 64.58 4.36
2018-09-30 57.02 58.46 4.11
2018-06-30 54.79 52.27 3.89
2018-03-31 51.96 38.87 4.06
2017-12-31 52.30 36.55 3.95
2017-09-30 50.00 49.90 4.10
2017-06-30 50.05 39.17 4.16
2017-03-31 48.91 37.29 4.09
2016-12-31 48.44 32.20 4.04
2016-09-30 48.47 21.83 3.91
2016-06-30 46.86 20.89 4.07
2016-03-31 44.96 26.03 4.25
2015-12-31 41.84 18.88 4.28
2015-09-30 40.18 21.16 4.05
2015-06-30 38.42 14.18 3.88
2015-03-31 34.73 6.71 3.76
2014-12-31 33.46 6.11 3.48
2014-09-30 31.13 7.22 3.60
2014-06-30 30.28 8.49 3.73
2014-03-31 30.07 13.52 3.75
2013-12-31 29.19 15.97 3.67
2013-09-30 27.67 11.17 3.75
2013-06-30 26.93 9.09 3.05
2013-03-31 25.63 2.00 3.16
2012-12-31 24.89 -3.10 3.04
2012-09-30 24.99 -3.20 2.97
2012-06-30 24.63 -7.12 3.26

*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.
  • Montea Comm. VA has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Montea Comm. VA used its assets more efficiently than the BE REITs industry average last year based on Return on Assets.
  • Montea Comm. VA's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Montea Comm. VA'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.
Montea Comm. VA has a total score of 4/6, 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.

MONT Health

 How is Montea Comm. VA'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 Montea Comm. VA's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Montea Comm. VA's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Montea Comm. VA's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Montea Comm. VA'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.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x 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 Montea Comm. VA Company Filings, last reported 3 months ago.

ENXTBR:MONT Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 433.57 472.24 4.63
2018-09-30 419.33 416.02
2018-06-30 359.91 436.19 6.05
2018-03-31 344.42 397.42
2017-12-31 333.03 388.52 3.44
2017-09-30 326.00 364.04
2017-06-30 247.43 371.16 5.41
2017-03-31 259.76 326.44
2016-12-31 251.96 320.97 3.35
2016-09-30 231.75 344.47
2016-06-30 225.75 361.15 2.99
2016-03-31 228.81 324.80
2015-12-31 208.26 318.84 4.93
2015-09-30 201.68 271.19
2015-06-30 194.32 281.62 5.90
2015-03-31 186.28 234.11
2014-12-31 183.44 252.77 4.25
2014-09-30 180.43 175.47
2014-06-30 180.11 184.14 3.95
2014-03-31 140.90 184.37
2013-12-31 138.97 186.88 4.09
2013-09-30 128.52 176.82
2013-06-30 126.88 178.77 1.25
2013-03-31 128.15 182.56
2012-12-31 123.76 173.09 7.01
2012-09-30 104.10 138.85
2012-06-30 104.58 155.06 11.33
  • Montea Comm. VA's level of debt (108.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (134.4% vs 108.9% today).
  • Debt is not well covered by operating cash flow (12%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.5x coverage).
X
Financial health checks
We assess Montea Comm. VA'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. Montea Comm. VA has a total score of 2/6, 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.

MONT Dividends

 What is Montea Comm. VA'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
3.03%
Current annual income from Montea Comm. VA dividends. Estimated to be 3.73% next year.
If you bought €2,000 of Montea Comm. VA shares you are expected to receive €61 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?
  • Montea Comm. VA's pays a higher dividend yield than the bottom 25% of dividend payers in Belgium (1.99%).
  • Montea Comm. VA's dividend is below the markets top 25% of dividend payers in Belgium (4.74%).
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
ENXTBR:MONT 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 2 Analyst Estimates (S&P Global) See Below
Belgium REITs Industry Average Dividend Yield Market Cap Weighted Average of 16 Stocks 4.4%
Belgium Market Average Dividend Yield Market Cap Weighted Average of 79 Stocks 3.4%
Belgium Minimum Threshold Dividend Yield 10th Percentile 1.2%
Belgium Bottom 25% Dividend Yield 25th Percentile 2%
Belgium Top 25% Dividend Yield 75th Percentile 4.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

ENXTBR:MONT Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 3.07 1.00
2020-12-31 2.83 1.00
2019-12-31 2.45 1.00
ENXTBR:MONT Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-02-21 2.260 3.269
2018-04-13 2.170 4.203
2018-02-23 2.170 4.942
2017-04-18 2.110 4.635
2017-02-21 2.110 4.693
2016-02-25 2.030 4.777
2015-04-20 1.970 5.461
2015-02-12 1.970 5.386
2014-04-22 1.970 6.117
2014-02-13 1.970 6.298
2013-04-23 1.930 6.330
2013-02-07 1.930 6.297
2012-08-23 1.450 5.306
2012-05-17 1.840 7.124
2012-02-16 1.840 7.397
2011-05-17 1.840 7.666
2011-02-22 1.840 7.473
2010-05-28 2.090 9.365
2010-02-25 1.780 6.939
2009-06-09 2.090 8.837
2009-04-24 2.090 8.448

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Montea Comm. VA's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.3x coverage).
X
Income/ dividend checks
We assess Montea Comm. VA's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - 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 Montea Comm. VA afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Montea Comm. VA has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

MONT Management

 What is the CEO of Montea Comm. VA'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
Jo De Wolf
COMPENSATION €575,000
AGE 44
TENURE AS CEO 8.5 years
CEO Bio

Jo De Wolf holds a Master’s degree in Applied Economics from KU Leuven, an MBA from the Vlerick School for management and pursued the Master’s Real Estate programme at the KU Leuven. The Mandates that have lapsed in the past five years: From 2000 to 2004 he was active in the Sicafi Leasinvest Real Estate, where he was first responsible for the commercial policy and later also responsible for the investment policy. He was also partly responsible for the Tour & Taxis development project in Brussels. In 2006 (until October 2010), he headed the real estate division of the Brussels Airport Company, where he was responsible for the redevelopment strategy and the expansion of the Brucargo logistics area at Brussels Airport. The Current Mandates: As of 19 October 2010, Jo De Wolf BVBA, represented by Mr. De Wolf, was appointed as effective Leader of Montea Comm. VA, in accordance with Article 38 of the Act of 20 July 2004 on certain forms of collective management of investment portfolios. Since May 2011: Director of BVS-UPSI (Professional Association of the Property Sector).

CEO Compensation
  • Jo's compensation has been consistent with company performance over the past year.
  • Jo's remuneration is about average for companies of similar size in Belgium.
Management Team Tenure

Average tenure and age of the Montea Comm. VA management team in years:

8.3
Average Tenure
44
Average Age
  • The average tenure for the Montea Comm. VA management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Dirk De Pauw

TITLE
Chairman of the Board
COMPENSATION
€60K
AGE
62

Jo De Wolf

TITLE
Managing Director & CEO
COMPENSATION
€575K
AGE
44
TENURE
8.5 yrs

Els Vervaecke

TITLE
Chief Financial Officer
TENURE
3.1 yrs

Griet Cappelle

TITLE
Chief Operating Officer
AGE
39

Christine De Glas

TITLE
Communication & Marketing Manager

Peter Demuynck

TITLE
Chief Commercial Officer
TENURE
8.3 yrs

Jean de Beaufort

TITLE
Director of France
TENURE
8.7 yrs

Hylcke Okkinga

TITLE
Director of Netherlands
TENURE
3.8 yrs
Board of Directors Tenure

Average tenure and age of the Montea Comm. VA board of directors in years:

5.7
Average Tenure
56
Average Age
  • The tenure for the Montea Comm. VA board of directors is about average.
Board of Directors

Jo De Wolf

TITLE
Managing Director & CEO
COMPENSATION
€575K
AGE
44
TENURE
8.6 yrs

Ciska Servais

TITLE
Vice Chairman of the Board
COMPENSATION
€18K
AGE
53
TENURE
5.9 yrs

Dirk De Pauw

TITLE
Chairman of the Board
COMPENSATION
€60K
AGE
62
TENURE
4.5 yrs

Sophie Maes

TITLE
Non-Executive & Independent Director
COMPENSATION
€22K
AGE
61
TENURE
5.5 yrs

Peter Snoeck

TITLE
Non-executive Director
AGE
61
TENURE
12.5 yrs

Jean-Marc Mayeur

TITLE
Non-Executive Director
AGE
48
TENURE
6.9 yrs

Greta Afslag

TITLE
Non-Executive Director
AGE
56
TENURE
1.9 yrs

Philipp Mathieu

TITLE
Non-executive & Independent Director
TENURE
1.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Montea Comm. VA'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. Montea Comm. VA 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.

MONT News

Simply Wall St News

Montea Comm. VA (EBR:MONT): The Best Of Both Worlds

I've been keeping an eye on Montea Comm. … Looking at the company as a whole, as a potential stock investment, I believe MONT has a lot to offer.

Simply Wall St -

Montea Comm. VA (EBR:MONT) Shareholders Received A Total Return Of 229% In The Last Five Years

In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. … One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price. … So the EPS growth rate is rather close to the annualized share price gain of 19% per year.

Simply Wall St -

Does Montea Comm. VA's (EBR:MONT) CEO Pay Reflect Performance?

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does Jo De Wolf's Compensation Compare With Similar Sized Companies. … VA has a market capitalization of €1.0b, and pays its CEO total annual compensation worth €575k.

Simply Wall St -

Is Montea Comm. VA (EBR:MONT) A Healthy REIT?

real estate investment trust (REIT) based in Erembodegem, Belgium. … REITs are basically a portfolio of income-producing real estate investments, which are owned and operated by management of that trust company. … A common financial term REIT investors should know is Funds from Operations, or FFO for short, which is a REIT's main source of income from its portfolio of property, such as rent

Simply Wall St -

Should We Be Delighted With Montea Comm. VA's (EBR:MONT) ROE Of 14%?

While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. … VA has a return on equity of 14% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

What Percentage Of Montea Comm. VA (EBR:MONT) Shares Do Insiders Own?

It has a market capitalization of €766m, which means it would generally expect to see some institutions on the share registry. … institutions are noticeable on the share registry. … Check out our latest analysis for Montea Comm

Simply Wall St -

Is Montea Comm VA's (EBR:MONT) CEO Paid Enough Relative To Peers?

This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … How Does Jo De Wolf's Compensation Compare With Similar Sized Companies. … Our data indicates that Montea Comm VA is worth €702m, and total annual CEO compensation is €575k.

Simply Wall St -

How To Look At Montea Comm VA (EBR:MONT)

real estate investment trust (REIT) based in Erembodegem, Belgium. … REITs are basically a portfolio of income-producing real estate investments, which are owned and operated by management of that trust company. … They have to meet certain requirements in order to become a REIT, meaning they should be analyzed a different way.

Simply Wall St -

Who Are The Major Shareholders Of Montea Comm VA (EBR:MONT)?

I am going to take a deep dive into Montea Comm VA’s (EBR:MONT) most recent ownership structure, not a frequent subject of discussion among individual investors. … A company's ownership structure is often linked to its share performance in both the long- and short-term. … The effect of an active institutional investor with a similar ownership as a passive pension-fund can be vastly different on a company's corporate governance and accountability to shareholders.

Simply Wall St -

Why Montea Comm VA's (EBR:MONT) Investor Composition Impacts Your Returns

Therefore, it is beneficial for us to examine MONT's ownership structure in more detail. … This level of ownership gives retail investors the power to sway key policy decisions such as board composition, executive compensation, and potential acquisitions. … Next Steps: MONT's considerably high level of institutional ownership calls for further analysis into its margin of safety.

Simply Wall St -

MONT Company Info

Description

Montea Comm. VA is a public property investment company (PPIC – SIIC) under Belgian law specialising in logistical property in Belgium, France and the Netherlands, where the company is a benchmark player. Montea literally offers its customers room to grow by providing versatile, innovative property solutions. In this way, Montea creates value for its shareholders. On 31/12/2018 Montea’s property portfolio represented total floor space of 1,220,099 m² across 63 locations. Montea Comm. VA has been listed on NYSE Euronext Brussels (MONT) and Paris (MONTP) since 2006. On 5/9/2018 Montea obtained the EPRA BPR Gold Award.

Details
Name: Montea Comm. VA
MONT
Exchange: ENXTBR
Founded: 1977
€1,168,415,040
15,662,400
Website: http://www.montea.com
Address: Montea Comm. VA
Industrielaan 27,
Industriezone Z III Zuid,
Erembodegem,
Liège, 9320,
Belgium
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTBR MONT Common Shares Euronext Brussels BE EUR 17. Oct 2006
DB M8E Common Shares Deutsche Boerse AG DE EUR 17. Oct 2006
LSE 0LBY Common Shares London Stock Exchange GB EUR 17. Oct 2006
BATS-CHIXE MONTB Common Shares BATS 'Chi-X Europe' GB EUR 17. Oct 2006
Number of employees
Current staff
Staff numbers
19
Montea Comm. VA employees.
Industry
Industrial REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/23 21:02
End of day share price update: 2019/04/23 00:00
Last estimates confirmation: 2019/02/21
Last earnings filing: 2019/02/21
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


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.