LSE:PBLT

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

TOC Property Backed Lending Trust

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

Worrying balance sheet with weak fundamentals.

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 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

0%

PBLT

3.4%

GB Mortgage

0.1%

GB Market


1 Year Return

-16.9%

PBLT

-12.3%

GB Mortgage

-15.4%

GB Market

Return vs Industry: PBLT underperformed the UK Mortgage industry which returned -12.3% over the past year.

Return vs Market: PBLT underperformed the UK Market which returned -15.4% over the past year.


Shareholder returns

PBLTIndustryMarket
7 Day0%3.4%0.1%
30 Day0%5.8%1.1%
90 Day0%5.4%-2.0%
1 Year-14.4%-16.9%-11.6%-12.3%-12.1%-15.4%
3 Year-2.9%-16.9%-5.5%-11.0%-8.4%-19.7%
5 Yearn/a11.3%0.1%16.4%-9.7%

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?

1.05x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: PBLT (£0.86) is trading above our estimate of fair value (£0.29)

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


Price To Earnings Ratio

PE vs Industry: PBLT is unprofitable, so we can't compare its PE Ratio to the XE Mortgage industry average.

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


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 overvalued based on its PB Ratio (1.1x) compared to the GB Mortgage industry average (0.9x).


Next Steps

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?

18.0%

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.


Next Steps

Past Performance

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

-303.2%

Last years earnings growth


Earnings and Revenue History

Quality Earnings: PBLT is currently unprofitable.

Growing Profit Margin: PBLT is currently unprofitable.


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

Earnings vs Industry: PBLT is unprofitable, making it difficult to compare its past year earnings growth to the Mortgage industry (-2.2%).


Return on Equity

High ROE: PBLT has a negative Return on Equity (-6.92%), as it is currently unprofitable.


Next Steps

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 (1.3x) 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.


Next Steps

Dividend

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


Dividend Yield vs Market

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

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


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: PBLT is not paying a notable dividend for the UK market.


Future Payout to Shareholders

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


Next Steps

Management

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

3.2yrs

Average board tenure


CEO

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


Board Members

NamePositionTenureCompensationOwnership
John Newlands
Independent Non-Executive Chairman1.5yrsno data0.019%
£ 4.3k
Matthew Harris
Independent Non-Executive Director3.83yrsno data0.19%
£ 43.0k
Ian McElroy
Non-Independent Non-Executive Director2.5yrsno data0.14%
£ 33.2k
Douglas Noble
Independent Non-Executive Director3.83yrsno data0.032%
£ 7.4k

3.2yrs

Average Tenure

Experienced Board: PBLT's board of directors are considered experienced (3.2 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: 2017
  • 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
  • Keel House
  • Garth Heads
  • Newcastle upon Tyne
  • Tyne and Wear
  • NE1 2JE
  • United Kingdom

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PBLTLSE (London Stock Exchange)YesOrdinary SharesGBGBPJan 2017

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 invest in financial assets comprising loans. The co ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/23 22:06
End of Day Share Price2020/10/23 00:00
Earnings2020/05/31
Annual Earnings2019/11/30


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.