DB:NC8A

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New Century Real Estate Investment Trust

Executive Summary

New Century Real Estate Investment Trust is a real estate investment trust externally managed by New Century Asset Management Ltd.


Snowflake Analysis

Unattractive dividend payer and overvalued.

Share Price & News

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


Latest Share Price and Events

Stable Share Price: NC8A has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

24.5%

NC8A

-2.0%

DE REITs

0.7%

DE Market


1 Year Return

-32.0%

NC8A

9.7%

DE REITs

3.9%

DE Market

Return vs Industry: NC8A underperformed the German REITs industry which returned 9.7% over the past year.

Return vs Market: NC8A underperformed the German Market which returned 3.9% over the past year.


Shareholder returns

NC8AIndustryMarket
7 Day24.5%-2.0%0.7%
30 Day31.5%-0.7%1.4%
90 Day17.0%6.0%17.3%
1 Year-27.2%-32.0%10.2%9.7%6.2%3.9%
3 Year-41.9%-53.0%-2.7%-15.6%1.8%-6.2%
5 Year-53.4%-67.9%2.3%-19.0%9.3%-5.4%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

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

0.47x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: NC8A (€0.12) is trading above our estimate of fair value (€0.01)

Significantly Below Fair Value: NC8A is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: NC8A is unprofitable, so we can't compare its PE Ratio to the DE REITs industry average.

PE vs Market: NC8A is unprofitable, so we can't compare its PE Ratio to the German market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate NC8A's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: NC8A is good value based on its PB Ratio (0.5x) compared to the DE REITs industry average (1.5x).


Next Steps

Future Growth

How is New Century Real Estate Investment Trust forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

0.9%

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 New Century Real Estate Investment Trust 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.


Next Steps

Past Performance

How has New Century Real Estate Investment Trust performed over the past 5 years?

24.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: NC8A is currently unprofitable.

Growing Profit Margin: NC8A is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: NC8A is unprofitable, but has reduced losses over the past 5 years at a rate of 24.6% per year.

Accelerating Growth: Unable to compare NC8A's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: NC8A is unprofitable, making it difficult to compare its past year earnings growth to the REITs industry (25.3%).


Return on Equity

High ROE: NC8A has a negative Return on Equity (-1.62%), as it is currently unprofitable.


Next Steps

Financial Health

How is New Century Real Estate Investment Trust's financial position?


Financial Position Analysis

Short Term Liabilities: NC8A's short term assets (CN¥743.9M) exceed its short term liabilities (CN¥415.1M).

Long Term Liabilities: NC8A's short term assets (CN¥743.9M) do not cover its long term liabilities (CN¥2.7B).


Debt to Equity History and Analysis

Debt Level: NC8A's debt to equity ratio (92.9%) is considered high.

Reducing Debt: NC8A's debt to equity ratio has increased from 60.7% to 92.9% over the past 5 years.

Debt Coverage: NC8A's debt is not well covered by operating cash flow (2.9%).

Interest Coverage: NC8A is unprofitable, therefore interest payments are not well covered by earnings.


Balance Sheet


Next Steps

Dividend

What is New Century Real Estate Investment Trust current dividend yield, its reliability and sustainability?

5.35%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: NC8A's dividend (5.35%) is higher than the bottom 25% of dividend payers in the German market (1.24%).

High Dividend: NC8A's dividend (5.35%) is in the top 25% of dividend payers in the German market (3.82%)


Stability and Growth of Payments

Stable Dividend: NC8A has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: NC8A has only been paying a dividend for 6 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (132%), NC8A'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.


Next Steps

Management

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

1.7yrs

Average management tenure


CEO

Wai Chu Ho (54yo)

0.42

Tenure

Ms. Wai Chu Ho is Executive Director & Chief Executive Officer and Responsible Officer of New Century Real Estate Investment Trust since February 17, 2020. She served as the Chief Operating Officer and Res ...


Leadership Team

NamePositionTenureCompensationOwnership
Wai Chu Ho
CEO, Responsible Officer & Executive Director0.42yrno data0.047% CN¥62.4k
Chi Shan Cheung
Investment & Investor Relations Manager of New Century Asset Management Limited1.92yrsno datano data
Hai Jiang Ding
Property & Technical Manager of New Century Asset Management Limited7.08yrsno datano data
Chun Tung Chan
Compliance Manager & Company Secretary1.42yrsno datano data

1.7yrs

Average Tenure

44yo

Average Age

Experienced Management: NC8A's management team is not considered experienced ( 1.7 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Wai Chu Ho
CEO, Responsible Officer & Executive Director0.42yrno data0.047% CN¥62.4k
Hon To Yu
Independent Non-Executive Director of New Century Asset Management Limited7.08yrsno datano data
Giovanni Angelini
Independent Non-Executive Director of New Century Asset Management Limited7.08yrsno datano data
Guanming Zhang
Non-Executive Director of New Century Asset Management Limited7.08yrsno datano data
Jinquan Tong
Non-Executive Director of New Century Asset Management Limited5.5yrsno data14.26% CN¥19.1m
Jianmin He
Independent Non-Executive Director of New Century Asset Management Limited6.5yrsno datano data
Jin Wenjie
Chairman of New Century Asset Management Limited3.17yrsno data0.17% CN¥229.8k

6.5yrs

Average Tenure

63yo

Average Age

Experienced Board: NC8A's board of directors are considered experienced (6.5 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.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

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


Key Information

  • Name: New Century Real Estate Investment Trust
  • Ticker: NC8A
  • Exchange: DB
  • Founded:
  • Industry: Hotel and Resort REITs
  • Sector: Real Estate
  • Market Cap: HK$1.173b
  • Listing Market Cap: HK$133.801m
  • Shares outstanding: 977.75m
  • Website: https://www.ncreit.com

Number of Employees


Location

  • New Century Real Estate Investment Trust
  • The Center
  • 47th Floor
  • Central
  • Hong Kong

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
1275SEHK (The Stock Exchange of Hong Kong Ltd.)YesUNITSHKHKDJul 2013
NC8ADB (Deutsche Boerse AG)YesUNITSDEEURJul 2013

Biography

New Century Real Estate Investment Trust is a real estate investment trust externally managed by New Century Asset Management Ltd. It invests in the real estate properties of China. The firm mainly invests in the hospitality sector. New Century Real Estate Investment Trust is based in Hong Kong. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/11 21:38
End of Day Share Price2020/07/10 00:00
Earnings2019/12/31
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.