ENXTPA:COVH

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Covivio Hotels Société anonyme

Executive Summary

Covivio Hotels specializes in the possession of operating walls in the hospitality sector. More Details


Snowflake Analysis

Undervalued established dividend payer.


Similar Companies

Share Price & News

How has Covivio Hotels Société anonyme's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: COVH's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-5.4%

COVH

-0.2%

FR REITs

1.4%

FR Market


1 Year Return

-55.1%

COVH

-38.2%

FR REITs

-8.5%

FR Market

Return vs Industry: COVH underperformed the French REITs industry which returned -37.3% over the past year.

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


Shareholder returns

COVHIndustryMarket
7 Day-5.4%-0.2%1.4%
30 Day-14.9%-11.5%-2.3%
90 Day-31.9%-17.2%-0.7%
1 Year-51.4%-55.1%-33.9%-38.2%-6.5%-8.5%
3 Year-48.4%-57.4%-25.7%-37.8%4.3%-4.8%
5 Year-30.1%-52.4%-7.1%-30.5%33.1%14.7%

Price Volatility Vs. Market

How volatile is Covivio Hotels Société anonyme's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Covivio Hotels Société anonyme undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: COVH (€12.25) is trading below our estimate of fair value (€28)

Significantly Below Fair Value: COVH is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: COVH is good value based on its PE Ratio (4.2x) compared to the FR REITs industry average (7.2x).

PE vs Market: COVH is good value based on its PE Ratio (4.2x) compared to the French market (17.2x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: COVH is good value based on its PB Ratio (0.5x) compared to the FR REITs industry average (0.6x).


Next Steps

Future Growth

How is Covivio Hotels Société anonyme forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

28.7%

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 Covivio Hotels Société anonyme 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 Covivio Hotels Société anonyme performed over the past 5 years?

4.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: COVH has a large one-off gain of €32.7M impacting its June 30 2020 financial results.

Growing Profit Margin: COVH's current net profit margins (34.6%) are lower than last year (64%).


Past Earnings Growth Analysis

Earnings Trend: COVH's earnings have grown by 4% per year over the past 5 years.

Accelerating Growth: COVH's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: COVH had negative earnings growth (-61.3%) over the past year, making it difficult to compare to the REITs industry average (13.2%).


Return on Equity

High ROE: COVH's Return on Equity (2.9%) is considered low.


Next Steps

Financial Health

How is Covivio Hotels Société anonyme's financial position?


Financial Position Analysis

Short Term Liabilities: COVH's short term assets (€373.8M) exceed its short term liabilities (€202.7M).

Long Term Liabilities: COVH's short term assets (€373.8M) do not cover its long term liabilities (€3.1B).


Debt to Equity History and Analysis

Debt Level: COVH's debt to equity ratio (77.1%) is considered high.

Reducing Debt: COVH's debt to equity ratio has reduced from 91.4% to 77.1% over the past 5 years.

Debt Coverage: COVH's debt is not well covered by operating cash flow (10.3%).

Interest Coverage: COVH's interest payments on its debt are not well covered by EBIT (2.6x coverage).


Balance Sheet


Next Steps

Dividend

What is Covivio Hotels Société anonyme current dividend yield, its reliability and sustainability?

12.65%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: COVH's dividend (12.65%) is higher than the bottom 25% of dividend payers in the French market (1.53%).

High Dividend: COVH's dividend (12.65%) is in the top 25% of dividend payers in the French market (5.16%)


Stability and Growth of Payments

Stable Dividend: COVH's dividends per share have been stable in the past 10 years.

Growing Dividend: COVH's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (66.3%), COVH's dividend payments are 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?

10.4yrs

Average board tenure


CEO

Dominique Ozanne (42 yo)

2.67yrs

Tenure

€1,111,193

Compensation

Mr. Dominique Ozanne has been Deputy Chief Executive Officer of Covivio since February 14, 2018. Mr. Ozanne is serving as Chief Executive Officer at Covivio Hotels (“Foncière des Régions”) since 2018 and h ...


CEO Compensation Analysis

Compensation vs Market: Dominique's total compensation ($USD0.00) is below average for companies of similar size in the French market ($USD1.10M).

Compensation vs Earnings: Dominique's compensation has been consistent with company performance over the past year.


Board Members

NamePositionTenureCompensationOwnership
Emmanuel Chabas
Supervisory Board Memberno data€3.90kno data
Marc Henrion
Member of the European Board and Managing Director of Foncière Europe Logistiqueno data€3.10kno data
Daniel Frey
Member of the European Board and Vice Chief Executive Officer of Immeo Wohnenno datano datano data
Christophe Kullmann
Chairman of the Supervisory Board15.83yrs€3.50m0.0019%
€ 30.8k
Olivier Joseph Estève
Member of Supervisory Board9.42yrs€1.95m0.00060%
€ 9.7k
Jean Luchet
Independent Supervisory Board Member11.42yrs€3.10k0.000010%
€ 162.4
Denis Moscovici
Director of European Boardno data€248.01kno data
Nathalie Robin
Independent Supervisory Board Member12.58yrs€3.70kno data
François Morrisson
Supervisory Board Member9.42yrs€40.90kno data
Marielle Seegmuller
Supervisory Board Member3.42yrs€3.78kno data
Sébastien Pezet
Member of Supervisory Board11.83yrs€3.50kno data
Yann Briand
Independent Supervisory Board Member2.42yrs€2.73kno data

10.4yrs

Average Tenure

55yo

Average Age

Experienced Board: COVH's board of directors are seasoned and experienced ( 10.4 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.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 9.5%.


Top Shareholders

Company Information

Covivio Hotels Société anonyme's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Covivio Hotels Société anonyme
  • Ticker: COVH
  • Exchange: ENXTPA
  • Founded: 2004
  • Industry: Hotel and Resort REITs
  • Sector: Real Estate
  • Market Cap: €1.624b
  • Shares outstanding: 132.54m
  • Website: https://www.covivio-hotels.fr

Number of Employees


Location

  • Covivio Hotels Société anonyme
  • 10 Avenue Kléber
  • Cedex 16
  • Paris
  • Languedoc-Roussillon
  • 75208
  • France

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
COVHENXTPA (Euronext Paris)YesCommon SharesFREURJan 1992
0IS8LSE (London Stock Exchange)YesCommon SharesGBEURJan 1992
COVHPBATS-CHIXE (BATS 'Chi-X Europe')YesCommon SharesGBEURJan 1992

Biography

Covivio Hotels specializes in the possession of operating walls in the hospitality sector. Covivio Hotels, a listed real estate investment company (SIIC), a real estate partner of the major players in the ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/09/29 20:44
End of Day Share Price2020/09/29 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.