XTRA:AOX

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alstria office REIT-AG

Executive Summary

alstria office REIT AG is the leading real-estate operator focusing solely on German office property in selected German markets. More Details


Snowflake Analysis

6 star dividend payer with mediocre balance sheet.


Similar Companies

Share Price & News

How has alstria office REIT-AG's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: AOX is less volatile than 75% of German stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: AOX's weekly volatility (3%) has been stable over the past year.


Market Performance


7 Day Return

-0.4%

AOX

0.3%

DE REITs

0.5%

DE Market


1 Year Return

-20.2%

AOX

-17.4%

DE REITs

21.5%

DE Market

Return vs Industry: AOX underperformed the German REITs industry which returned -17.4% over the past year.

Return vs Market: AOX underperformed the German Market which returned 21.5% over the past year.


Shareholder returns

AOXIndustryMarket
7 Day-0.4%0.3%0.5%
30 Day-3.7%-6.2%-0.8%
90 Day-2.8%-6.2%6.6%
1 Year-16.6%-20.2%-14.9%-17.4%25.3%21.5%
3 Year26.9%12.2%30.7%16.8%14.5%4.5%
5 Year38.9%12.8%14.8%-2.3%45.1%24.5%

Long-Term Price Volatility Vs. Market

How volatile is alstria office REIT-AG's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is alstria office REIT-AG undervalued compared to its fair value and its price relative to the market?

14.44x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: AOX (€13.72) is trading above our estimate of fair value (€9.16)

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


Price To Earnings Ratio

PE vs Industry: AOX is poor value based on its PE Ratio (14.4x) compared to the DE REITs industry average (11.8x).

PE vs Market: AOX is good value based on its PE Ratio (14.4x) compared to the German market (25.3x).


Price to Earnings Growth Ratio

PEG Ratio: AOX is poor value based on its PEG Ratio (6.4x)


Price to Book Ratio

PB vs Industry: AOX is good value based on its PB Ratio (0.7x) compared to the DE REITs industry average (1.4x).


Next Steps

Future Growth

How is alstria office REIT-AG forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?

2.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: AOX's forecast earnings growth (2.3% per year) is above the savings rate (0.07%).

Earnings vs Market: AOX's earnings (2.3% per year) are forecast to grow slower than the German market (22.1% per year).

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

Revenue vs Market: AOX's revenue is expected to decline over the next 3 years (-4.4% per year).

High Growth Revenue: AOX's revenue is forecast to decline over the next 3 years (-4.4% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: AOX's Return on Equity is forecast to be low in 3 years time (4.4%).


Next Steps

Past Performance

How has alstria office REIT-AG performed over the past 5 years?

35.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: AOX has a large one-off gain of €69.9M impacting its December 31 2020 financial results.

Growing Profit Margin: AOX's current net profit margins (78.2%) are lower than last year .


Past Earnings Growth Analysis

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

Accelerating Growth: AOX's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: AOX had negative earnings growth (-71%) over the past year, making it difficult to compare to the REITs industry average (-27.7%).


Return on Equity

High ROE: AOX's Return on Equity (5.2%) is considered low.


Next Steps

Financial Health

How is alstria office REIT-AG's financial position?


Financial Position Analysis

Short Term Liabilities: AOX's short term assets (€475.5M) exceed its short term liabilities (€71.6M).

Long Term Liabilities: AOX's short term assets (€475.5M) do not cover its long term liabilities (€1.8B).


Debt to Equity History and Analysis

Debt Level: AOX's debt to equity ratio (52%) is considered high.

Reducing Debt: AOX's debt to equity ratio has reduced from 125.7% to 52% over the past 5 years.

Debt Coverage: AOX's debt is not well covered by operating cash flow (6.1%).

Interest Coverage: AOX's interest payments on its debt are well covered by EBIT (4.1x coverage).


Balance Sheet


Next Steps

Dividend

What is alstria office REIT-AG current dividend yield, its reliability and sustainability?

3.86%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: AOX's dividend (3.86%) is higher than the bottom 25% of dividend payers in the German market (0.98%).

High Dividend: AOX's dividend (3.86%) is in the top 25% of dividend payers in the German market (3.37%)


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (86.6%), AOX's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: AOX's dividends in 3 years are forecast to be covered by earnings (85.8% payout ratio).


Next Steps

Management

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

13.8yrs

Average management tenure


CEO

Olivier Elamine (48 yo)

14.33yrs

Tenure

€1,226,000

Compensation

Mr. Olivier Elamine has been the Chief Executive Officer at alstria office REIT-AG since November 2006, Member of Management Board since October 2006 and serves as its Chairman of the Management Board. Mr....


CEO Compensation Analysis

Compensation vs Market: Olivier's total compensation ($USD1.46M) is below average for companies of similar size in the German market ($USD2.11M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Olivier Elamine
Chairman of the Management Board & CEO14.33yrs€1.23mno data
Alexander Dexne
CFO & Member of Management Board13.75yrs€1.01mno data
Ralf Dibbern
Head of Investor Relations & Public Relations10.83yrsno datano data
Thomas Fischer
Head of ITno datano datano data

13.8yrs

Average Tenure

Experienced Management: AOX's management team is seasoned and experienced (13.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Richard Mully
Independent Vice Chairman of the Supervisory Board4.33yrs€90.00kno data
Bernhard Duttmann
Independent Supervisory Board Member4.17yrs€67.50kno data
Johannes Conradi
Independent Supervisory Board Chairman4.83yrs€165.00kno data
Marianne Voigt
Independent Supervisory Board Member9.42yrs€70.00kno data
Benoît Hérault
Independent Supervisory Board Member8.92yrs€67.50kno data
Stefanie Frensch
Independent Supervisory Board Member5.17yrs€65.00kno data

5.0yrs

Average Tenure

55.5yo

Average Age

Experienced Board: AOX's board of directors are considered experienced (5 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 not been meaningfully diluted in the past year.


Top Shareholders

Company Information

alstria office REIT-AG's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: alstria office REIT-AG
  • Ticker: AOX
  • Exchange: XTRA
  • Founded: 2006
  • Industry: Office REITs
  • Sector: Real Estate
  • Market Cap: €2.439b
  • Shares outstanding: 177.79m
  • Website: https://www.alstria.com

Number of Employees


Location

  • alstria office REIT-AG
  • Steinstrasse 7
  • Hamburg
  • Hamburg
  • 20095
  • Germany

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AOXDB (Deutsche Boerse AG)YesOrdinary Bearer SharesDEEURApr 2007
0O9QLSE (London Stock Exchange)YesOrdinary Bearer SharesGBEURApr 2007
AOXXTRA (XETRA Trading Platform)YesOrdinary Bearer SharesDEEURApr 2007
AOXDBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary Bearer SharesGBEURApr 2007
AOXSWX (SIX Swiss Exchange)YesOrdinary Bearer SharesCHCHFApr 2007
AOXWBAG (Wiener Boerse AG)YesOrdinary Bearer SharesATEURApr 2007
ALSR.FOTCPK (Pink Sheets LLC)YesOrdinary Bearer SharesUSUSDApr 2007
AOXETLX (Eurotlx)YesOrdinary Bearer SharesITEURApr 2007

Biography

alstria office REIT AG is the leading real-estate operator focusing solely on German office property in selected German markets. Our strategy is based on the ownership and an active management of our prope...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/03/06 19:03
End of Day Share Price2021/03/05 00:00
Earnings2020/12/31
Annual Earnings2020/12/31


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.