Lar España Real Estate SOCIMI, SA, (hereinafter Lar España) is a SOCIMI (Listed Real Estate Investment Company) that has been listed on the Continuous Market of the Madrid Stock Exchange since March 5, 2014.It was founded at an ideal moment in the Spanish real estate cycle in which prices reached historical lows and the real estate market entered a new phase. More Details
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Very undervalued with moderate growth potential.
Share Price & News
How has Lar España Real Estate SOCIMI's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: LRE's share price has been volatile over the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: LRE underperformed the Spanish REITs industry which returned -26.3% over the past year.
Return vs Market: LRE underperformed the Spanish Market which returned -22.3% over the past year.
Price Volatility Vs. Market
How volatile is Lar España Real Estate SOCIMI's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall StNew Forecasts: Here's What Analysts Think The Future Holds For Lar España Real Estate SOCIMI, S.A. (BME:LRE)
3 weeks ago | Simply Wall StIs Lar España Real Estate SOCIMI, S.A. (BME:LRE) Popular Amongst Institutions?
2 months ago | Simply Wall StWho Has Been Selling Lar España Real Estate SOCIMI, S.A. (BME:LRE) Shares?
Is Lar España Real Estate SOCIMI undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: LRE (€3.94) is trading below our estimate of fair value (€5.41)
Significantly Below Fair Value: LRE is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: LRE is good value based on its PE Ratio (14.7x) compared to the ES REITs industry average (17.6x).
PE vs Market: LRE is good value based on its PE Ratio (14.7x) compared to the Spanish market (18.6x).
Price to Earnings Growth Ratio
PEG Ratio: LRE is good value based on its PEG Ratio (0.4x)
Price to Book Ratio
PB vs Industry: LRE is good value based on its PB Ratio (0.4x) compared to the ES REITs industry average (1x).
How is Lar España Real Estate SOCIMI forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: LRE's forecast earnings growth (34.9% per year) is above the savings rate (1.3%).
Earnings vs Market: LRE's earnings (34.9% per year) are forecast to grow faster than the Spanish market (31.1% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: LRE's revenue (1.9% per year) is forecast to grow slower than the Spanish market (6.2% per year).
High Growth Revenue: LRE's revenue (1.9% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: LRE's Return on Equity is forecast to be low in 3 years time (5.4%).
How has Lar España Real Estate SOCIMI performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: LRE has a large one-off loss of €28.9M impacting its June 30 2020 financial results.
Growing Profit Margin: LRE's current net profit margins (25.2%) are lower than last year .
Past Earnings Growth Analysis
Earnings Trend: LRE's earnings have grown by 12.7% per year over the past 5 years.
Accelerating Growth: LRE's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: LRE had negative earnings growth (-79.5%) over the past year, making it difficult to compare to the REITs industry average (6.1%).
Return on Equity
High ROE: LRE's Return on Equity (2.6%) is considered low.
How is Lar España Real Estate SOCIMI's financial position?
Financial Position Analysis
Short Term Liabilities: LRE's short term assets (€275.9M) exceed its short term liabilities (€60.5M).
Long Term Liabilities: LRE's short term assets (€275.9M) do not cover its long term liabilities (€752.9M).
Debt to Equity History and Analysis
Debt Level: LRE's debt to equity ratio (84.9%) is considered high.
Reducing Debt: LRE's debt to equity ratio has increased from 57.9% to 84.9% over the past 5 years.
Debt Coverage: LRE's debt is not well covered by operating cash flow (2.1%).
Interest Coverage: LRE's interest payments on its debt are well covered by EBIT (3.9x coverage).
What is Lar España Real Estate SOCIMI current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: LRE's dividend (15.95%) is higher than the bottom 25% of dividend payers in the Spanish market (2.47%).
High Dividend: LRE's dividend (15.95%) is in the top 25% of dividend payers in the Spanish market (6.81%)
Stability and Growth of Payments
Stable Dividend: LRE has been paying a dividend for less than 10 years and during this time payments have been volatile.
Growing Dividend: LRE's dividend payments have increased, but the company has only paid a dividend for 6 years.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (344.5%), LRE's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: LRE's dividends in 3 years are forecast to be covered by earnings (61.3% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average board tenure
Miguel Pereda Espeso
Mr. Miguel Pereda Espeso serves as General Director's Adviser at Inversions Inmobiliarias Lar, S.A. (Grupo Lar). Mr. Pereda served as Managing Director of Grupo Lar since June 2000. Mr. Pereda has been wit ...
|CEO & Director||no data||no data||0.035% |
|Non-Executive Independent Chairman||6.5yrs||€105.00k||0.026% |
|Independent Director||3.33yrs||no data||0.0031% |
|Independent Director||6.5yrs||€80.31k||0.0014% |
|Proprietary Director||3.33yrs||no data||no data|
|Independent Director||6.5yrs||€75.93k||0.0029% |
|Independent Director||1.92yrs||no data||0.00041% |
Experienced Board: LRE's board of directors are considered experienced (6.5 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.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Lar España Real Estate SOCIMI, S.A.'s company bio, employee growth, exchange listings and data sources
- Name: Lar España Real Estate SOCIMI, S.A.
- Ticker: LRE
- Exchange: BME
- Industry: Diversified REITs
- Sector: Real Estate
- Market Cap: €334.868m
- Shares outstanding: 85.10m
- Website: https://www.larespana.com
Number of Employees
- Lar España Real Estate SOCIMI, S.A.
- C/ Rosario Pino 14-16
- 8th Floor
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|LRE||BME (Bolsas y Mercados Espanoles)||Yes||Bearer Shares||ES||EUR||Mar 2014|
|LREE||BATS-CHIXE (BATS 'Chi-X Europe')||Yes||Bearer Shares||GB||EUR||Mar 2014|
|0QRL||LSE (London Stock Exchange)||Yes||Bearer Shares||GB||EUR||Mar 2014|
|LARE.F||OTCPK (Pink Sheets LLC)||Yes||Bearer Shares||US||USD||Mar 2014|
|L8E||DB (Deutsche Boerse AG)||Yes||Bearer Shares||DE||EUR||Mar 2014|
|LRE N||BMV (Bolsa Mexicana de Valores)||Yes||Bearer Shares||MX||MXN||Mar 2014|
Lar España Real Estate SOCIMI, SA, (hereinafter Lar España) is a SOCIMI (Listed Real Estate Investment Company) that has been listed on the Continuous Market of the Madrid Stock Exchange since March 5, 201 ...
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/09/30 22:29|
|End of Day Share Price||2020/09/30 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.