Retail Estates
Market Cap
€1.1b
Last Updated
2019/12/10 21:17 UTC
Data Sources
Company Financials +
Executive Summary
Retail Estates nv is a public regulated real estate company and more specifically a niche company that specialises in investing in out-of-town retail properties which are located on the periphery of residential areas or along main access roads into urban centres.
Rewards
Risk Analysis
Snowflake Analysis
Established dividend payer and overvalued.
Similar Companies
Share Price & News
How has Retail Estates's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: RET has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
-2.4%
RET
0.2%
BE REITs
0.6%
BE Market
1 Year Return
15.4%
RET
29.7%
BE REITs
14.6%
BE Market
Return vs Industry: RET underperformed the Belgian REITs industry which returned 29.7% over the past year.
Return vs Market: RET matched the Belgian Market which returned 14.6% over the past year.
Shareholder returns
| RET | Industry | Market | |
|---|---|---|---|
| 7 Day | -2.4% | 0.2% | 0.6% |
| 30 Day | -4.2% | -1.3% | 0.2% |
| 90 Day | 1.3% | 2.7% | -3.5% |
| 1 Year | 19.7%15.4% | 34.6%29.7% | 16.9%14.6% |
| 3 Year | 30.2%16.2% | 59.6%39.5% | 0.02%-6.6% |
| 5 Year | 56.6%27.7% | 94.0%56.5% | 21.0%6.8% |
Price Volatility Vs. Market
How volatile is Retail Estates's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
How Does Retail Estates N.V. (EBR:RET) Fare As A Dividend Stock?1 month ago | Simply Wall St
A Note On Retail Estates N.V.'s (EBR:RET) ROE and Debt To Equity2 months ago | Simply Wall St
Did You Miss Retail Estates's (EBR:RET) 39% Share Price Gain?Valuation
Is Retail Estates undervalued compared to its fair value and its price relative to the market?
2.4%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: RET (€84.6) is trading below our estimate of fair value (€86.65)
Significantly Below Fair Value: RET is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: RET is poor value based on its PE Ratio (20.4x) compared to the REITs industry average (16.8x).
PE vs Market: RET is poor value based on its PE Ratio (20.4x) compared to the Belgian market (16.8x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate RET's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: RET is overvalued based on its PB Ratio (1.4x) compared to the BE REITs industry average (1.4x).
Next Steps
Future Growth
How is Retail Estates forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?
7.5%
Forecasted annual revenue growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: Insufficient data to determine if RET's forecast earnings growth is above the savings rate (0.7%).
Earnings vs Market: Insufficient data to determine if RET's earnings are forecast to grow faster than the Belgian market
High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: RET's revenue (7.5% per year) is forecast to grow faster than the Belgian market (4.2% per year).
High Growth Revenue: RET's revenue (7.5% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if RET's Return on Equity is forecast to be high in 3 years time
Next Steps
Past Performance
How has Retail Estates performed over the past 5 years?
9.6%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: RET has a large one-off loss of €17.6M impacting its September 30 2019 financial results.
Growing Profit Margin: RET's current net profit margins (48.6%) are lower than last year (58.4%).
Past Earnings Growth Analysis
Earnings Trend: RET's earnings have grown by 9.6% per year over the past 5 years.
Accelerating Growth: RET's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: RET had negative earnings growth (-3.7%) over the past year, making it difficult to compare to the REITs industry average (13.6%).
Return on Equity
High ROE: RET's Return on Equity (6.4%) is considered low.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is Retail Estates'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: RET has a high level of physical assets or inventory.
Debt Coverage by Assets: RET's debt is not covered by short term assets (assets are 0x debt).
Financial Institutions Analysis
Asset Level: RET's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if RET has a sufficient allowance for bad loans.
Low Risk Liabilities: RET reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if RET has an acceptable proportion of non-loan assets held.
Low Risk Deposits: RET has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if RET has an appropriate level of bad loans.
Next Steps
Dividend
What is Retail Estates's current dividend yield, its reliability and sustainability?
5.02%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: RET's dividend (5.02%) is higher than the bottom 25% of dividend payers in the Belgian market (2.12%).
High Dividend: RET's dividend (5.02%) is in the top 25% of dividend payers in the Belgian market (4.49%)
Stability and Growth of Payments
Stable Dividend: RET's dividends per share have been stable in the past 10 years.
Growing Dividend: RET's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (57.5%), RET's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.
Next Steps
Management
What is the CEO of Retail Estates's salary, the management and board of directors tenure and is there insider trading?
11.4yrs
Average management tenure
CEO
Jan De Nys (60yo)
21.9yrs
Tenure
€319,000
Compensation
Mr. Jan De Nys is Managing Director and Chief Executive Officer of Retail Estates N.V. since 1998 and serves as its Director. Most important other positions:- Director at Orelio nv (Maes/Alides Constru ...
CEO Compensation Analysis
Compensation vs Market: Jan's total compensation ($USD353.93K) is below average for companies of similar size in the Belgian market ($USD576.78K).
Compensation vs Earnings: Jan's compensation has been consistent with company performance over the past year.
Management Age and Tenure
11.4yrs
Average Tenure
60yo
Average Age
Experienced Management: RET's management team is seasoned and experienced (11.4 years average tenure).
Board Age and Tenure
3.9yrs
Average Tenure
58.5yo
Average Age
Experienced Board: RET's board of directors are considered experienced (3.9 years average tenure).
Insider Trading
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 14.7%.
Management Team
Jan De Nys (60yo)
MD, CEO & Director
- Tenure: 21.9yrs
- Compensation: €319.00k
Paul Borghgraef (65yo)
Chairman & Compliance Officer
- Tenure: 3.9yrs
- Compensation: €60.00k
Kara De Smet (43yo)
CFO & Executive Director
- Tenure: 3.9yrs
Wilfried Van Laethem
Financial Controller
- Tenure: 0yrs
Sara Hautier
Accounting Manager
- Tenure: 0yrs
Bernadette Rossel
Senior Property Manager
- Tenure: 14.9yrs
Tom Ooms
Construction & Technical Manager
- Tenure: 8.8yrs
Kevin Tirmarche
Property Manager
- Tenure: 7.7yrs
Koenraad Van Nieuwenburg
Chief Investment Officer
- Tenure: 0yrs
Runa Eeckt
Chief Legal Officer
- Tenure: 0.9yrs
Board Members
Jan De Nys (60yo)
MD, CEO & Director
- Tenure: 21.9yrs
- Compensation: €319.00k
Paul Borghgraef (65yo)
Chairman & Compliance Officer
- Tenure: 3.9yrs
- Compensation: €60.00k
Vic Ragoen (64yo)
Non-Executive Director
- Tenure: 15.1yrs
- Compensation: €18.00k
Christophe Demain (53yo)
Non-Executive Director
- Tenure: 6.5yrs
- Compensation: €13.50k
Kara De Smet (43yo)
CFO & Executive Director
- Tenure: 3.9yrs
Leen Van den Neste (53yo)
Independent Director
- Tenure: 3.9yrs
- Compensation: €21.00k
Jean Sterbelle (57yo)
Non-Executive Director
- Tenure: 6.7yrs
- Compensation: €15.00k
René Annaert (67yo)
Independent Director
- Tenure: 4.4yrs
- Compensation: €19.50k
Herlinda Wouters (61yo)
Non-Executive Director
- Tenure: 3.9yrs
- Compensation: €15.00k
Ann Gaeremynck (53yo)
Independent Director
- Tenure: 2.7yrs
- Compensation: €22.50k
Company Information
Retail Estates N.V.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Retail Estates N.V.
- Ticker: RET
- Exchange: ENXTBR
- Founded: 1988
- Industry: Retail REITs
- Sector: Real Estate
- Market Cap: €1.069b
- Shares outstanding: 12.63m
- Website: https://www.retailestates.com
Number of Employees
Location
- Retail Estates N.V.
- Industrielaan 6
- B-1740 Ternat
- Brussels
- Brussels
- 1000
- Belgium
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| R6N | DB (Deutsche Boerse AG) | Yes | Ordinary Shares | DE | EUR | Dec 2004 |
| RET | ENXTBR (Euronext Brussels) | Yes | Ordinary Shares | BE | EUR | Dec 2004 |
| 0FSO | LSE (London Stock Exchange) | Yes | Ordinary Shares | GB | EUR | Dec 2004 |
| RETB | BATS-CHIXE (BATS 'Chi-X Europe') | Yes | Ordinary Shares | GB | EUR | Dec 2004 |
Biography
Retail Estates nv is a public regulated real estate company and more specifically a niche company that specialises in investing in out-of-town retail properties which are located on the periphery of reside ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2019/12/10 21:17 |
| End of Day Share Price | 2019/12/10 00:00 |
| Earnings | 2019/09/30 |
| Annual Earnings | 2019/03/31 |
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.