ENXTPA:AREIT

Stock Analysis Report

Executive Summary

Altareit SCA operates as a real estate development company in France.

Snowflake

Fundamentals

Good value with proven track record.

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

0.9%

AREIT

2.7%

FR Real Estate

4.2%

FR Market


1 Year Return

1.9%

AREIT

-1.9%

FR Real Estate

9.4%

FR Market

Return vs Industry: AREIT exceeded the French Real Estate industry which returned -1.9% over the past year.

Return vs Market: AREIT underperformed the French Market which returned 9.4% over the past year.


Shareholder returns

AREITIndustryMarket
7 Day0.9%2.7%4.2%
30 Day7.8%-1.2%0.2%
90 Dayn/a4.1%0.9%
1 Year1.9%1.9%1.9%-1.9%13.1%9.4%
3 Year195.7%195.7%33.2%19.2%44.4%30.5%
5 Year271.6%271.6%138.3%100.2%74.5%48.4%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

40.1%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: AREIT (€550) is trading below our estimate of fair value (€917.91)

Significantly Undervalued: AREIT is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: AREIT is good value based on its PE Ratio (3.9x) compared to the Real Estate industry average (10.5x).

PE vs Market: AREIT is good value based on its PE Ratio (3.9x) compared to the French market (17.4x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: AREIT is overvalued based on its PB Ratio (1.2x) compared to the FR Real Estate industry average (1x).


Next Steps

Future Growth

How is Altareit forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

-9.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: AREIT's earnings are forecast to decline over the next 3 years (-9.9% per year).

Earnings vs Market: AREIT's earnings are forecast to decline over the next 3 years (-9.9% per year).

High Growth Earnings: AREIT's earnings are forecast to decline over the next 3 years.

Revenue vs Market: Insufficient data to determine if AREIT's revenue is forecast to grow faster than the French market.

High Growth Revenue: Insufficient data to determine if AREIT's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: Insufficient data to determine if AREIT's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Altareit performed over the past 5 years?

28.9%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: AREIT's earnings have grown significantly by 28.9% per year over the past 5 years.

Accelerating Growth: AREIT's earnings growth over the past year (147.4%) exceeds its 5-year average (28.9% per year).

Earnings vs Industry: AREIT earnings growth over the past year (147.4%) exceeded the Real Estate industry -0.4%.


Return on Equity

High ROE: Whilst AREIT's Return on Equity (30.26%) is high, this metric is skewed due to their high level of debt.


Return on Assets

ROA vs Industry: AREIT has a higher Return on Assets than the Real Estate industry average last year.


Return on Capital Employed

ROCE Improving: AREIT's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Altareit's financial position?


Financial Position Analysis

Short Term Liabilities: AREIT's short term assets (€2.6B) exceeds its short term liabilities (€1.6B)

Long Term Liabilities: AREIT's short term assets (2.6B) exceeds its long term liabilities (720.1M)


Debt to Equity History and Analysis

Debt Level: AREIT's debt to equity ratio (133.8%) is considered high

Reducing Debt: AREIT's debt to equity ratio has reduced from 170.2% to 133.8% over the past 5 years.

Debt Coverage: AREIT's debt is not well covered by operating cash flow (10.1%).

Interest Coverage: AREIT's interest payments on its debt are well covered by EBIT (8.7x coverage).


Balance Sheet

Inventory Level: AREIT has a high level of physical assets or inventory.

Debt Coverage by Assets: AREIT's debt is covered by short term assets (assets are 2.217320x debt).


Next Steps

Dividend

What is Altareit's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%1.5%markettop25%4.6%industryaverage5.2%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: Unable to evaluate AREIT's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate AREIT's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.

Stable Dividend: Insufficient data to determine if AREIT's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if AREIT's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of AREIT's dividend in 3 years as they are not forecast to pay a notable one for the French market.


Next Steps

Management

What is the CEO of Altareit's salary, the management and board of directors tenure and is there insider trading?


CEO

Altareit has no CEO, or we have no data on them.


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown


Management Team

  • Alain Taravella (71yo)

    Chairman of Altarea Cogedim

    • Tenure: 0yrs
    • Compensation: €600.00k
  • Blandine Charveriat-Louis

    Marketing Director

    • Tenure: 0yrs
  • Patrick Mazières

    Managing Director of Cogedim

    • Tenure: 0yrs

Board Members

  • Christian de Gournay (67yo)

    Chairman of The Supervisory Board

    • Tenure: 0yrs
    • Compensation: €300.00k
  • Alain Taravella (71yo)

    Chairman of Altarea Cogedim

    • Tenure: 0yrs
    • Compensation: €600.00k
  • Jacques Nicolet (63yo)

    Member of Supervisory Board

    • Tenure: 0yrs
    • Compensation: €6.50k
  • Dominique Rongier (74yo)

    Member of the Supervisory Board

    • Tenure: 0yrs
    • Compensation: €15.50k
  • Léonore Reviron (34yo)

    Member of Supervisory Board

    • Tenure: 0yrs
    • Compensation: €15.50k
  • Eliane Fremeaux

    Member of Supervisory Board

    • Tenure: 0.4yrs

Company Information

Altareit SCA's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Altareit SCA
  • Ticker: AREIT
  • Exchange: ENXTPA
  • Founded:
  • Industry: Diversified Real Estate Activities
  • Sector: Real Estate
  • Market Cap: €962.661m
  • Shares outstanding: 1.75m
  • Website: https://www.altareit.com

Number of Employees


Location

  • Altareit SCA
  • 8 Avenue Delcassé
  • Paris
  • Ile-de-France
  • 75008
  • France

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AREITENXTPA (Euronext Paris)YesOrdinary SharesFREURMay 1992
AREITPBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURMay 1992

Biography

Altareit SCA operates as a real estate development company in France. It develops residential properties, including serviced residences; and office properties and mixed-use projects. The company is based i ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/16 20:34
End of Day Share Price2019/10/10 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.