Created in 2006, Cegereal is a listed property company that invests in prime office properties in Greater Paris.
Fair value with acceptable track record.
Share Price & News
How has CeGeREAL's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: D2L has not had significant price volatility in the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: D2L underperformed the German REITs industry which returned 9.7% over the past year.
Return vs Market: D2L underperformed the German Market which returned 3.9% over the past year.
Price Volatility Vs. Market
How volatile is CeGeREAL's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Is CeGeREAL undervalued compared to its fair value and its price relative to the market?
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: D2L (€33.2) is trading above our estimate of fair value (€13.71)
Significantly Below Fair Value: D2L is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: D2L is good value based on its PE Ratio (6.5x) compared to the DE REITs industry average (8.6x).
PE vs Market: D2L is good value based on its PE Ratio (6.5x) compared to the German market (21x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate D2L's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: D2L is good value based on its PB Ratio (0.7x) compared to the DE REITs industry average (1.5x).
How is CeGeREAL forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
Forecasted Real Estate industry annual growth in earnings
In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as CeGeREAL has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.
This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.
- Examine whether CeGeREAL is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
- CeGeREAL competitive advantages and company strategy can generally be found in its financial reports archived here.
- Explore growth companies in the Real Estate industry.
How has CeGeREAL performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: D2L has a large one-off gain of €46.2M impacting its December 31 2019 financial results.
Growing Profit Margin: D2L's current net profit margins (99.1%) are higher than last year (49%).
Past Earnings Growth Analysis
Earnings Trend: D2L's earnings have declined by -2.6% per year over the past 5 years.
Accelerating Growth: D2L's earnings growth over the past year (143.9%) exceeds its 5-year average (-2.6% per year).
Earnings vs Industry: D2L earnings growth over the past year (143.9%) exceeded the REITs industry 25.3%.
Return on Equity
High ROE: D2L's Return on Equity (11.1%) is considered low.
How is CeGeREAL's financial position?
Financial Position Analysis
Short Term Liabilities: D2L's short term assets (€66.5M) exceed its short term liabilities (€48.6M).
Long Term Liabilities: D2L's short term assets (€66.5M) do not cover its long term liabilities (€774.7M).
Debt to Equity History and Analysis
Debt Level: D2L's debt to equity ratio (106.5%) is considered high.
Reducing Debt: D2L's debt to equity ratio has increased from 80.1% to 106.5% over the past 5 years.
Debt Coverage: D2L's debt is not well covered by operating cash flow (3.7%).
Interest Coverage: D2L's interest payments on its debt are well covered by EBIT (3.7x coverage).
What is CeGeREAL current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: D2L's dividend (2.27%) is higher than the bottom 25% of dividend payers in the German market (1.24%).
High Dividend: D2L's dividend (2.27%) is low compared to the top 25% of dividend payers in the German market (3.82%).
Stability and Growth of Payments
Stable Dividend: D2L has been paying a dividend for less than 10 years and during this time payments have been volatile.
Growing Dividend: D2L has only been paying a dividend for 9 years, and since then payments have fallen.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (125.8%), D2L's dividend payments are not well 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.
How experienced are the management team and are they aligned to shareholders interests?
Average board tenure
Jérôme Anselme (46yo)
Jérôme Anselme is Managing Director at Northwood Investors (“Northwood”). Since joining Northwood in 2012, Mr. Anselme has been actively involved in all of the firm’s European investment and asset manageme ...
|CEO & Director||2.75yrs||no data||no data|
|Chairman of the Board||4.25yrs||no data||no data|
|Independent Director||9.42yrs||€65.00k||0.00074% €3.9k|
|Independent Director||4.25yrs||€65.00k||no data|
|Director||1.25yrs||no data||no data|
|Independent Director||4.42yrs||€65.00k||no data|
|Director||4.67yrs||no data||no data|
|Director||4.67yrs||no data||no data|
|Director||4.17yrs||no data||no data|
|Director||4.25yrs||no data||no data|
Experienced Board: D2L's board of directors are considered experienced (4.3 years average tenure).
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.
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
CeGeREAL's company bio, employee growth, exchange listings and data sources
- Name: CeGeREAL
- Ticker: D2L
- Exchange: DB
- Founded: 1999
- Industry: Office REITs
- Sector: Real Estate
- Market Cap: €524.494m
- Shares outstanding: 15.89m
- Website: https://www.cegereal.com
Number of Employees
- 42, rue de Bassano
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|CGR||ENXTPA (Euronext Paris)||Yes||Common Stock||FR||EUR||Mar 2006|
|D2L||DB (Deutsche Boerse AG)||Yes||Common Stock||DE||EUR||Mar 2006|
|0DYT||LSE (London Stock Exchange)||Yes||Common Stock||GB||EUR||Mar 2006|
|CGRP||BATS-CHIXE (BATS 'Chi-X Europe')||Yes||Common Stock||GB||EUR||Mar 2006|
Created in 2006, Cegereal is a listed property company that invests in prime office properties in Greater Paris. The total value of the portfolio is estimated at €1,464 million at December 31, 2019 (excluding transfer duties). Thanks to its strong commitment to environmental, social and governance issues, Cegereal achieved first place among listed companies in Europe in the 2019 Global Real Estate Sustainability Benchmark (GRESB) ranking. Its entire portfolio has achieved NF HQETM Exploitation and BREEAM In-Use International certification. Cegereal is a REIT listed on Euronext Paris since 2006, in compartment B (ISIN: FR0010309096). The Company had a market capitalization of €490 million at May 14, 2020.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/07/11 21:48|
|End of Day Share Price||2020/07/10 00:00|
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.