Secure Income REIT
Market Cap
UK£1.1b
Last Updated
2021/03/07 20:13 UTC
Data Sources
Company Financials +
Executive Summary
Secure Income REIT Plc ("SIR") is a specialist UK REIT, investing in real estate assets that provide long term rental income with inflation protection. More Details
Rewards
Risk Analysis
Snowflake Analysis
Average dividend payer and slightly overvalued.
Similar Companies
Share Price & News
How has Secure Income REIT's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: SIR is less volatile than 75% of UK stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: SIR's weekly volatility has decreased from 9% to 3% over the past year.
Market Performance
7 Day Return
9.3%
SIR
-0.08%
GB REITs
1.2%
GB Market
1 Year Return
-19.8%
SIR
-39.6%
GB REITs
4.6%
GB Market
Return vs Industry: SIR exceeded the UK REITs industry which returned -39.6% over the past year.
Return vs Market: SIR underperformed the UK Market which returned 4.6% over the past year.
Shareholder returns
| SIR | Industry | Market | |
|---|---|---|---|
| 7 Day | 9.3% | -0.08% | 1.2% |
| 30 Day | 14.0% | 1.0% | 0.7% |
| 90 Day | 18.6% | 1.9% | 2.6% |
| 1 Year | -15.2%-19.8% | -7.7%-39.6% | 10.6%4.6% |
| 3 Year | 8.7%-4.7% | -2.2%-3.7% | 8.6%-4.5% |
| 5 Year | 64.7%34.7% | 7.2%1.6% | 39.5%12.6% |
Long-Term Price Volatility Vs. Market
How volatile is Secure Income REIT's share price compared to the market and industry in the last 5 years?
Simply Wall St News
8 months ago | Simply Wall St
What Does The Future Hold For Secure Income REIT Plc (LON:SIR)? These Analysts Have Been Cutting Their Estimates1 year ago | Simply Wall St
What Kind Of Shareholders Own Secure Income REIT Plc (LON:SIR)?1 year ago | Simply Wall St
Secure Income REIT Plc (LON:SIR) Looks Like A Good Stock, And It's Going Ex-Dividend SoonValuation
Is Secure Income REIT undervalued compared to its fair value and its price relative to the market?
49.9%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: SIR (£3.54) is trading below our estimate of fair value (£7.06)
Significantly Below Fair Value: SIR is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: SIR is unprofitable, so we can't compare its PE Ratio to the GB REITs industry average.
PE vs Market: SIR 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 SIR's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: SIR's PB Ratio (0.9x) is in line with the GB REITs industry average.
Next Steps
Future Growth
How is Secure Income REIT forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
114.8%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: SIR is forecast to remain unprofitable over the next 3 years.
Earnings vs Market: SIR is forecast to remain unprofitable over the next 3 years.
High Growth Earnings: SIR is forecast to remain unprofitable over the next 3 years.
Revenue vs Market: SIR's revenue (10.8% per year) is forecast to grow faster than the UK market (6.6% per year).
High Growth Revenue: SIR's revenue (10.8% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if SIR's Return on Equity is forecast to be high in 3 years time
Next Steps
Past Performance
How has Secure Income REIT performed over the past 5 years?
15.6%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: SIR is currently unprofitable.
Growing Profit Margin: SIR is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: SIR is unprofitable, but has reduced losses over the past 5 years at a rate of 15.6% per year.
Accelerating Growth: Unable to compare SIR's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: SIR is unprofitable, making it difficult to compare its past year earnings growth to the REITs industry (-0.1%).
Return on Equity
High ROE: SIR has a negative Return on Equity (-2.9%), as it is currently unprofitable.
Next Steps
Financial Health
How is Secure Income REIT's financial position?
Financial Position Analysis
Short Term Liabilities: SIR's short term assets (£251.1M) exceed its short term liabilities (£35.7M).
Long Term Liabilities: SIR's short term assets (£251.1M) do not cover its long term liabilities (£961.1M).
Debt to Equity History and Analysis
Debt Level: SIR's debt to equity ratio (74.4%) is considered high.
Reducing Debt: SIR's debt to equity ratio has reduced from 254.9% to 74.4% over the past 5 years.
Debt Coverage: SIR's debt is not well covered by operating cash flow (8.5%).
Interest Coverage: SIR is unprofitable, therefore interest payments are not well covered by earnings.
Balance Sheet
Next Steps
Dividend
What is Secure Income REIT current dividend yield, its reliability and sustainability?
4.75%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: SIR's dividend (4.75%) is higher than the bottom 25% of dividend payers in the UK market (1.49%).
High Dividend: SIR's dividend (4.75%) is in the top 25% of dividend payers in the UK market (4.51%)
Stability and Growth of Payments
Stable Dividend: SIR has been paying a dividend for less than 10 years and during this time payments have been volatile.
Growing Dividend: SIR's dividend payments have increased, but the company has only paid a dividend for 5 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (68.7%), SIR's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: SIR's dividends in 3 years are forecast to be covered by earnings (90.6% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
6.8yrs
Average board tenure
CEO
Mike Brown (59 yo)
no data
Tenure
Mr. Phillip Michael Brown, also known as Mike, B.Sc. (Land Man), MRICS is a Partner and Chief Executive Officer at Prestbury Investments LLP. Mr. Brown has been with Prestbury Investments since June 2009. ...
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Director | no data | no data | 0.37% £ 4.2m | |
| Company Secretary & Non-Executive Director | 14.17yrs | no data | 0.059% £ 680.7k | |
| Non-Executive Director | 14.17yrs | no data | 0.018% £ 203.2k | |
| Independent Non-Executive Chairman | 6.83yrs | UK£75.00k | 0.039% £ 449.7k | |
| Independent Non-Executive Director | 6.83yrs | UK£40.00k | 0.018% £ 203.2k | |
| Senior Independent Director | no data | UK£40.00k | 0.030% £ 338.9k | |
| Independent Non-Executive Director | 6.83yrs | UK£45.00k | 0.0081% £ 92.9k |
6.8yrs
Average Tenure
61yo
Average Age
Experienced Board: SIR's board of directors are considered experienced (6.8 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.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Secure Income REIT Plc's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Secure Income REIT Plc
- Ticker: SIR
- Exchange: AIM
- Founded: 2007
- Industry: Diversified REITs
- Sector: Real Estate
- Market Cap: UK£1.145b
- Shares outstanding: 324.04m
- Website: https://www.SecureIncomeREIT.co.uk
Location
- Secure Income REIT Plc
- Cavendish House
- 18 Cavendish Square
- London
- East Lothian
- W1G 0PJ
- United Kingdom
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| SIR | AIM (London Stock Exchange AIM Market) | Yes | Ordinary Shares | GB | GBP | Jun 2014 |
Biography
Secure Income REIT Plc ("SIR") is a specialist UK REIT, investing in real estate assets that provide long term rental income with inflation protection. The Company owns a £1.96 billion portfolio at the 30 ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/03/07 20:13 |
| End of Day Share Price | 2021/03/05 00:00 |
| Earnings | 2020/06/30 |
| Annual Earnings | 2019/12/31 |
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.