LSE:PBLT

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TOC Property Backed Lending Trust

Market Cap

UK£23.2m

Last Updated

2021/07/29 21:47 UTC

Data Sources

Company Financials

Executive Summary

TOC Property Backed Lending Trust Plc provides a portfolio of fixed rate loans primarily secured over land and/or property in the United Kingdom. More Details


Snowflake Analysis

Unattractive dividend payer and overvalued.

Share Price & News

How has TOC Property Backed Lending Trust's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: PBLT is less volatile than 75% of UK stocks over the past 3 months, typically moving +/- 0% a week.

Volatility Over Time: PBLT's weekly volatility (0%) has been stable over the past year.


Market Performance


7 Day Return

0%

PBLT

3.0%

GB Mortgage

1.6%

GB Market


1 Year Return

0%

PBLT

52.2%

GB Mortgage

21.7%

GB Market

Return vs Industry: PBLT underperformed the UK Mortgage industry which returned 49.7% over the past year.

Return vs Market: PBLT underperformed the UK Market which returned 18.5% over the past year.


Shareholder returns

PBLTIndustryMarket
7 Day0%3.0%1.6%
30 Day0%3.9%0.4%
90 Day0%5.3%2.0%
1 Year3.0%0%55.2%52.2%27.2%21.7%
3 Year-4.8%-16.9%21.3%13.7%14.3%1.3%
5 Yearn/a90.3%67.1%40.9%13.8%

Long-Term Price Volatility Vs. Market

How volatile is TOC Property Backed Lending Trust's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is TOC Property Backed Lending Trust undervalued compared to its fair value and its price relative to the market?

27.05x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: PBLT (£0.86) is trading above our estimate of fair value (£0.54)

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


Price To Earnings Ratio

PE vs Industry: PBLT is poor value based on its PE Ratio (27x) compared to the UK Mortgage industry average (11.6x).

PE vs Market: PBLT is poor value based on its PE Ratio (27x) compared to the UK market (23.9x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: PBLT is good value based on its PB Ratio (1x) compared to the GB Mortgage industry average (1.2x).


Future Growth

How is TOC Property Backed Lending Trust forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

11.7%

Forecasted Banks 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 TOC Property Backed Lending 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.


Past Performance

How has TOC Property Backed Lending Trust performed over the past 5 years?

-25.8%

Last years revenue growth


Earnings and Revenue History

Quality Earnings: PBLT has a large one-off loss of £237.0K impacting its November 30 2020 financial results.

Growing Profit Margin: PBLT became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: Insufficient data to determine if PBLT's year-on-year earnings growth rate was positive over the past 5 years.

Accelerating Growth: PBLT has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: PBLT has become profitable in the last year, making it difficult to compare its past year earnings growth to the Mortgage industry (16.7%).


Return on Equity

High ROE: PBLT's Return on Equity (3.8%) is considered low.


Financial Health

How is TOC Property Backed Lending Trust's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: PBLT's Assets to Equity ratio (1.1x) is low.

Allowance for Bad Loans: Insufficient data to determine if PBLT has a sufficient allowance for bad loans.

Low Risk Liabilities: PBLT reports no customer deposits, 100% of its liabilities are made up of higher risk sources of funding.

Loan Level: Insufficient data to determine if PBLT has an appropriate level of Loans to Assets ratio.

Low Risk Deposits: PBLT reports no customer deposits, loans are made up entirely of externally borrowed funds.

Level of Bad Loans: Insufficient data to determine if PBLT has an appropriate level of bad loans.


Dividend

What is TOC Property Backed Lending Trust current dividend yield, its reliability and sustainability?

4.65%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: PBLT's dividend (4.65%) is higher than the bottom 25% of dividend payers in the UK market (1.3%).

High Dividend: PBLT's dividend (4.65%) is in the top 25% of dividend payers in the UK market (3.92%)


Stability and Growth of Payments

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

Growing Dividend: PBLT has only been paying a dividend for 4 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (94.4%), PBLT'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?

3.9yrs

Average board tenure


CEO

TOC Property Backed Lending Trust has no CEO, or we have no data on them.


Board Members

Experienced Board: PBLT's board of directors are considered experienced (3.9 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 not been meaningfully diluted in the past year.


Top Shareholders

Company Information

TOC Property Backed Lending Trust Plc's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: TOC Property Backed Lending Trust Plc
  • Ticker: PBLT
  • Exchange: LSE
  • Founded: 2016
  • Industry: Thrifts and Mortgage Finance
  • Sector: Banks
  • Market Cap: UK£23.155m
  • Shares outstanding: 26.92m
  • Website: https://www.tocpropertybackedlendingtrust.co.uk

Location

  • TOC Property Backed Lending Trust Plc
  • Hamilton Centre
  • Rodney Way
  • Chelmsford
  • Essex
  • CM1 3BY
  • United Kingdom

Listings


Biography

TOC Property Backed Lending Trust Plc provides a portfolio of fixed rate loans primarily secured over land and/or property in the United Kingdom. It also invests in financial assets comprising loans. The c...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/07/29 21:47
End of Day Share Price2021/07/29 00:00
Earnings2020/11/30
Annual Earnings2020/11/30


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.