XTRA:PBY

Stock Analysis Report

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Executive Summary

publity AG invests in commercial real estate properties in Germany. More Details


Snowflake Analysis

Proven track record average dividend payer.


Similar Companies

Share Price & News

How has publity's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: PBY is not significantly more volatile than the rest of German stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: PBY's weekly volatility (7%) has been stable over the past year.


Market Performance


7 Day Return

-1.9%

PBY

-0.3%

DE Real Estate

0.4%

DE Market


1 Year Return

-11.4%

PBY

5.4%

DE Real Estate

2.3%

DE Market

Return vs Industry: PBY underperformed the German Real Estate industry which returned 4.6% over the past year.

Return vs Market: PBY underperformed the German Market which returned 2% over the past year.


Shareholder returns

PBYIndustryMarket
7 Day-1.9%-0.3%0.4%
30 Day11.1%3.2%9.4%
90 Day-9.6%0.4%4.0%
1 Year-11.4%-11.4%8.1%5.4%5.6%2.3%
3 Year5.8%-4.1%21.2%12.1%4.4%-4.7%
5 Year11.8%-10.6%72.9%53.0%26.8%9.0%

Long-Term Price Volatility Vs. Market

How volatile is publity's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is publity undervalued compared to its fair value and its price relative to the market?

17.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: PBY (€32.95) is trading below our estimate of fair value (€39.72)

Significantly Below Fair Value: PBY is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: PBY is good value based on its PE Ratio (7x) compared to the DE Real Estate industry average (12.1x).

PE vs Market: PBY is good value based on its PE Ratio (7x) compared to the German market (23.2x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: PBY is overvalued based on its PB Ratio (1.4x) compared to the DE Real Estate industry average (1.3x).


Next Steps

Future Growth

How is publity forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

21.1%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if PBY's forecast earnings growth is above the savings rate (0.2%).

Earnings vs Market: Insufficient data to determine if PBY's earnings are forecast to grow faster than the German market

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

Revenue vs Market: PBY's revenue (21.1% per year) is forecast to grow faster than the German market (5.9% per year).

High Growth Revenue: PBY's revenue (21.1% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: PBY's Return on Equity is forecast to be very high in 3 years time (41.8%).


Next Steps

Past Performance

How has publity performed over the past 5 years?

38.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PBY has a large one-off gain of €129.9M impacting its June 30 2020 financial results.

Growing Profit Margin: PBY's current net profit margins are higher than last year .


Past Earnings Growth Analysis

Earnings Trend: PBY's earnings have grown significantly by 38.2% per year over the past 5 years.

Accelerating Growth: PBY's earnings growth over the past year (58.4%) exceeds its 5-year average (38.2% per year).

Earnings vs Industry: PBY earnings growth over the past year (58.4%) exceeded the Real Estate industry 0.09%.


Return on Equity

High ROE: PBY's Return on Equity (19.2%) is considered low.


Next Steps

Financial Health

How is publity's financial position?


Financial Position Analysis

Short Term Liabilities: PBY's short term assets (€178.0M) do not cover its short term liabilities (€334.5M).

Long Term Liabilities: PBY's short term assets (€178.0M) do not cover its long term liabilities (€620.6M).


Debt to Equity History and Analysis

Debt Level: PBY's debt to equity ratio (215.7%) is considered high.

Reducing Debt: PBY's debt to equity ratio has increased from 10.3% to 215.7% over the past 5 years.

Debt Coverage: PBY's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: Insufficient data to determine if PBY's interest payments on its debt are well covered by EBIT.


Balance Sheet


Next Steps

Dividend

What is publity current dividend yield, its reliability and sustainability?

4.55%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: PBY's dividend (4.55%) is higher than the bottom 25% of dividend payers in the German market (1.14%).

High Dividend: PBY's dividend (4.55%) is in the top 25% of dividend payers in the German market (3.72%)


Stability and Growth of Payments

Stable Dividend: PBY has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: PBY has only been paying a dividend for 5 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (32%), PBY's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: PBY's dividends in 3 years are forecast to be well covered by earnings (31.4% payout ratio).


Next Steps

Management

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

0.6yrs

Average management tenure


CEO

Thomas Olek (52 yo)

no data

Tenure

Mr. Thomas Olek has been the Chairman of Management Board at publity AG since October 9, 2003 and serves as its Chief Executive Officer and Head of Strategy Department. Mr. Olek has been Managing director ...


Leadership Team

NamePositionTenureCompensationOwnership
Thomas Olek
Chairman of Management Boardno datano data85.66%
€ 423.0m
Stephan Kunath
CFO & Member of Management Board0.17yrno datano data
Frank Schneider
COO & Member of Management Board2yrsno datano data
Stephan Borst
Head of Transaction Management0.92yrno datano data
Marcel Hackober
Head of Treasury0.25yrno datano data

0.6yrs

Average Tenure

52yo

Average Age

Experienced Management: PBY's management team is not considered experienced ( 0.6 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Hans-Jürgen Klumpp
Chairman of Supervisory Board1.92yrsno datano data
Frank Vennemann
Member of Supervisory Board1.92yrsno datano data
Holger Till
Deputy Chairman of the Supervisory Board1.33yrsno datano data

1.9yrs

Average Tenure

58yo

Average Age

Experienced Board: PBY's board of directors are not considered experienced ( 1.9 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 not been meaningfully diluted in the past year.


Top Shareholders

Company Information

publity AG's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: publity AG
  • Ticker: PBY
  • Exchange: XTRA
  • Founded: 1999
  • Industry: Real Estate Operating Companies
  • Sector: Real Estate
  • Market Cap: €493.833m
  • Shares outstanding: 14.87m
  • Website: https://www.publity.org/de

Number of Employees


Location

  • publity AG
  • Opernturm
  • Bockenheimer Landsteinerstrasse 2–4
  • Frankfurt am Main
  • Hessen
  • 60306
  • Germany

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PBYDB (Deutsche Boerse AG)YesRegistered SharesDEEURApr 2015
PBYXTRA (XETRA Trading Platform)YesRegistered SharesDEEURApr 2015
PBYDBATS-CHIXE (BATS 'Chi-X Europe')YesRegistered SharesGBEURApr 2015
0VZSLSE (London Stock Exchange)YesRegistered SharesGBEURApr 2015

Biography

publity AG invests in commercial real estate properties in Germany. It offers asset management services, including services related to the purchase, management, and marketing of properties. The company als...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/12/03 19:11
End of Day Share Price2020/12/03 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.