XTRA:DKG

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Deutsche Konsum REIT-AG

Executive Summary

Deutsche Konsum REIT-AG, a real estate investment trust, engages in the acquisition, leasing and management, and sale of retail properties in Germany.


Snowflake Analysis

Good value with proven track record.

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

-5.1%

DKG

-2.0%

DE REITs

0.7%

DE Market


1 Year Return

13.3%

DKG

9.7%

DE REITs

3.9%

DE Market

Return vs Industry: DKG exceeded the German REITs industry which returned 9.7% over the past year.

Return vs Market: DKG exceeded the German Market which returned 3.9% over the past year.


Shareholder returns

DKGIndustryMarket
7 Day-5.1%-2.0%0.7%
30 Day0.6%-0.7%1.4%
90 Day5.4%6.0%17.3%
1 Year15.5%13.3%10.2%9.7%6.2%3.9%
3 Year101.0%94.1%-2.7%-15.6%1.8%-6.2%
5 Yearn/a2.3%-19.0%9.3%-5.4%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Deutsche Konsum REIT-AG 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: DKG (€16.65) is trading below our estimate of fair value (€40.16)

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


Price To Earnings Ratio

PE vs Industry: DKG is poor value based on its PE Ratio (9.5x) compared to the DE REITs industry average (8.6x).

PE vs Market: DKG is good value based on its PE Ratio (9.5x) compared to the German market (21x).


Price to Earnings Growth Ratio

PEG Ratio: DKG is good value based on its PEG Ratio (0.6x)


Price to Book Ratio

PB vs Industry: DKG is overvalued based on its PB Ratio (1.7x) compared to the DE REITs industry average (1.5x).


Next Steps

Future Growth

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

15.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: DKG's forecast earnings growth (15.1% per year) is above the savings rate (0.2%).

Earnings vs Market: DKG's earnings (15.1% per year) are forecast to grow slower than the German market (22.4% per year).

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

Revenue vs Market: DKG's revenue (14.9% per year) is forecast to grow faster than the German market (5.9% per year).

High Growth Revenue: DKG's revenue (14.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: DKG's Return on Equity is forecast to be low in 3 years time (14.4%).


Next Steps

Past Performance

How has Deutsche Konsum REIT-AG performed over the past 5 years?

37.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: DKG has a large one-off gain of €28.9M impacting its March 31 2020 financial results.

Growing Profit Margin: DKG's current net profit margins (89.3%) are higher than last year (82.1%).


Past Earnings Growth Analysis

Earnings Trend: DKG has become profitable over the past 5 years, growing earnings by 37.8% per year.

Accelerating Growth: DKG's earnings growth over the past year (50%) exceeds its 5-year average (37.8% per year).

Earnings vs Industry: DKG earnings growth over the past year (50%) exceeded the REITs industry 25.3%.


Return on Equity

High ROE: DKG's Return on Equity (17.1%) is considered low.


Next Steps

Financial Health

How is Deutsche Konsum REIT-AG's financial position?


Financial Position Analysis

Short Term Liabilities: DKG's short term assets (€24.2M) exceed its short term liabilities (€22.2M).

Long Term Liabilities: DKG's short term assets (€24.2M) do not cover its long term liabilities (€440.4M).


Debt to Equity History and Analysis

Debt Level: DKG's debt to equity ratio (139.5%) is considered high.

Reducing Debt: DKG's debt to equity ratio has reduced from 237.6% to 139.5% over the past 5 years.

Debt Coverage: DKG's debt is not well covered by operating cash flow (7.2%).

Interest Coverage: DKG's interest payments on its debt are well covered by EBIT (6.1x coverage).


Balance Sheet


Next Steps

Dividend

What is Deutsche Konsum REIT-AG current dividend yield, its reliability and sustainability?

2.10%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: DKG's dividend (2.1%) is higher than the bottom 25% of dividend payers in the German market (1.24%).

High Dividend: DKG's dividend (2.1%) is low compared to the top 25% of dividend payers in the German market (3.82%).


Stability and Growth of Payments

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

Growing Dividend: DKG's dividend payments have increased, but the company has only paid a dividend for 3 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (40.4%), DKG's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: DKG's dividends in 3 years are forecast to be thoroughly covered by earnings (1.3% payout ratio).


Next Steps

Management

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

2.3yrs

Average board tenure


CEO

Rolf Elgeti (44yo)

no data

Tenure

€71,300

Compensation

Mr. Rolf Elgeti, CFA serves as Chairman of Management Board and Chief Executive Officer at Deutsche Konsum REIT-AG and serves as its Member of Management Board. Mr. Elgeti is the Founder and General Partne ...


CEO Compensation Analysis

Compensation vs Market: Rolf's total compensation ($USD80.67K) is below average for companies of similar size in the German market ($USD1.43M).

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


Board Members

NamePositionTenureCompensationOwnership
Hans-Ulrich Sutter
Chairman of Supervisory Boardno datano datano data
Johannes Boot
Member of Supervisory Board4.25yrsno datano data
Kristian Schmidt-Garve
Second Deputy Chairman of Supervisory Board0.33yrno datano data
Achim Betz
First Deputy Chairman of Supervisory Boardno datano datano data
Nicholas Cournoyer
Member of Supervisory Board4.25yrsno datano data
Cathy Bell-Walker
Member of Supervisory Board0.33yrno datano data

2.3yrs

Average Tenure

Experienced Board: DKG's board of directors are not considered experienced ( 2.3 years average tenure), which suggests a new board.


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 been diluted in the past year, with total shares outstanding growing by 17.3%.


Top Shareholders

Company Information

Deutsche Konsum REIT-AG's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Deutsche Konsum REIT-AG
  • Ticker: DKG
  • Exchange: XTRA
  • Founded: 2008
  • Industry: Retail REITs
  • Sector: Real Estate
  • Market Cap: €585.346m
  • Shares outstanding: 35.16m
  • Website: https://www.deutsche-konsum.de

Number of Employees


Location

  • Deutsche Konsum REIT-AG
  • August-Bebel-Str. 68
  • Potsdam
  • Brandenburg
  • 14482
  • Germany

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
DKGDB (Deutsche Boerse AG)YesBearer SharesDEEURDec 2015
DKGXTRA (XETRA Trading Platform)YesBearer SharesDEEURDec 2015
0RDELSE (London Stock Exchange)YesBearer SharesGBEURDec 2015
DKGDBATS-CHIXE (BATS 'Chi-X Europe')YesBearer SharesGBEURDec 2015

Biography

Deutsche Konsum REIT-AG, a real estate investment trust, engages in the acquisition, leasing and management, and sale of retail properties in Germany. As of September 30, 2017, the company had a portfolio of 62 retail properties. Deutsche Konsum REIT-AG was founded in 2008 and is headquartered in Potsdam, Germany. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/11 21:00
End of Day Share Price2020/07/10 00:00
Earnings2020/03/31
Annual Earnings2019/09/30


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.