TSX:APR.UN

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Automotive Properties Real Estate Investment Trust

Executive Summary

Automotive Properties REIT is an unincorporated, open-ended real estate investment trust focused on owning and acquiring primarily income-producing automotive dealership properties located in Canada. More Details


Snowflake Analysis

Average dividend payer and slightly overvalued.

Share Price & News

How has Automotive Properties Real Estate Investment Trust's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: APR.UN has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

1.6%

APR.UN

0.8%

CA REITs

-0.4%

CA Market


1 Year Return

-13.5%

APR.UN

-24.4%

CA REITs

-4.0%

CA Market

Return vs Industry: APR.UN exceeded the Canadian REITs industry which returned -24.4% over the past year.

Return vs Market: APR.UN underperformed the Canadian Market which returned -3.9% over the past year.


Shareholder returns

APR.UNIndustryMarket
7 Day1.6%0.8%-0.4%
30 Day3.3%1.8%2.3%
90 Day6.2%0.1%1.7%
1 Year-7.8%-13.5%-20.2%-24.4%-0.5%-4.0%
3 Year12.8%-9.3%3.0%-12.8%6.5%-3.9%
5 Year50.3%3.9%25.0%-5.5%35.4%14.6%

Price Volatility Vs. Market

How volatile is Automotive Properties Real Estate Investment Trust's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Automotive Properties Real Estate Investment Trust undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: APR.UN (CA$10.11) is trading below our estimate of fair value (CA$24.45)

Significantly Below Fair Value: APR.UN is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: APR.UN is unprofitable, so we can't compare its PE Ratio to the CA REITs industry average.

PE vs Market: APR.UN is unprofitable, so we can't compare its PE Ratio to the Canadian market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate APR.UN's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: APR.UN is overvalued based on its PB Ratio (1x) compared to the CA REITs industry average (0.8x).


Next Steps

Future Growth

How is Automotive Properties Real Estate Investment Trust forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

9.4%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if APR.UN's forecast earnings growth is above the savings rate (1.7%).

Earnings vs Market: Insufficient data to determine if APR.UN's earnings are forecast to grow faster than the Canadian market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: APR.UN's revenue (9.4% per year) is forecast to grow faster than the Canadian market (5.8% per year).

High Growth Revenue: APR.UN's revenue (9.4% 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 APR.UN's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Automotive Properties Real Estate Investment Trust performed over the past 5 years?

-10.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: APR.UN is currently unprofitable.

Growing Profit Margin: APR.UN is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: APR.UN is unprofitable, and losses have increased over the past 5 years at a rate of 10.7% per year.

Accelerating Growth: Unable to compare APR.UN's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: APR.UN is unprofitable, making it difficult to compare its past year earnings growth to the REITs industry (15.1%).


Return on Equity

High ROE: APR.UN has a negative Return on Equity (-0.72%), as it is currently unprofitable.


Next Steps

Financial Health

How is Automotive Properties Real Estate Investment Trust's financial position?


Financial Position Analysis

Short Term Liabilities: APR.UN's short term assets (CA$9.9M) do not cover its short term liabilities (CA$37.4M).

Long Term Liabilities: APR.UN's short term assets (CA$9.9M) do not cover its long term liabilities (CA$487.9M).


Debt to Equity History and Analysis

Debt Level: APR.UN's debt to equity ratio (136.2%) is considered high.

Reducing Debt: APR.UN's debt to equity ratio has reduced from 334.2% to 136.2% over the past 5 years.

Debt Coverage: APR.UN's debt is not well covered by operating cash flow (10.4%).

Interest Coverage: APR.UN is unprofitable, therefore interest payments are not well covered by earnings.


Balance Sheet


Next Steps

Dividend

What is Automotive Properties Real Estate Investment Trust current dividend yield, its reliability and sustainability?

7.95%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: APR.UN's dividend (7.95%) is higher than the bottom 25% of dividend payers in the Canadian market (1.66%).

High Dividend: APR.UN's dividend (7.95%) is in the top 25% of dividend payers in the Canadian market (5.83%)


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, APR.UN has been paying a dividend for less than 10 years.

Growing Dividend: APR.UN has only been paying a dividend for 5 years, and since then payments have not increased.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (87.3%), APR.UN's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: APR.UN's dividends in 3 years are forecast to be covered by earnings (80.4% payout ratio).


Next Steps

Management

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

5.3yrs

Average board tenure


CEO

Milton Lamb (51 yo)

5.25yrs

Tenure

CA$2,286,280

Compensation

Mr. Milton Donald Lamb has been Chief Executive Officer and President of Automotive Properties Real Estate Investment Trust since July 22, 2015. With over 25 years of experience in the Canadian commercial ...


CEO Compensation Analysis

Compensation vs Market: Milton's total compensation ($USD1.74M) is above average for companies of similar size in the Canadian market ($USD849.99K).

Compensation vs Earnings: Milton's compensation has increased whilst the company is unprofitable.


Board Members

NamePositionTenureCompensationOwnership
Louis Forbes
Independent Trustee3.33yrsCA$77.50k0.013%
CA$ 63.9k
John Morrison
Lead Independent Trustee5.25yrsCA$81.00k0.058%
CA$ 281.0k
Stuart Lazier
Independent Trustee5.25yrsCA$75.00k0.11%
CA$ 541.6k
Kapil Dilawri
Chairman of the Board5.33yrsno data0.27%
CA$ 1.3m
James Matthews
5.33yrsno data0.046%
CA$ 222.3k
Patricia Kay
Independent Trustee1.33yrsCA$49.88kno data

5.3yrs

Average Tenure

63yo

Average Age

Experienced Board: APR.UN's board of directors are considered experienced (5.3 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.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 19.9%.


Top Shareholders

Company Information

Automotive Properties Real Estate Investment Trust's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Automotive Properties Real Estate Investment Trust
  • Ticker: APR.UN
  • Exchange: TSX
  • Founded: 2015
  • Industry: Specialized REITs
  • Sector: Real Estate
  • Implied Market Cap: CA$481.542m
  • Market Cap: CA$381.117m
  • Shares outstanding: 47.63m
  • Website: https://www.automotivepropertiesreit.ca

Location

  • Automotive Properties Real Estate Investment Trust
  • 133 King Street East
  • Suite 300
  • Toronto
  • Ontario
  • M5C 1G6
  • Canada

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
APR.UNTSX (The Toronto Stock Exchange)YesUnitsCACADJul 2015

Biography

Automotive Properties REIT is an unincorporated, open-ended real estate investment trust focused on owning and acquiring primarily income-producing automotive dealership properties located in Canada. The R ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/25 01:08
End of Day Share Price2020/10/23 00:00
Earnings2020/06/30
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.