Snowflake Score | |
---|---|
Valuation | 3/6 |
Future Growth | 0/6 |
Past Performance | 1/6 |
Financial Health | 1/6 |
Dividends | 3/6 |
SIR Stock Overview
Secure Income REIT Plc ("SIR") is a specialist UK REIT, investing in real estate assets that provide long term rental income with inflation protection.
Secure Income REIT Competitors
Price History & Performance
Historical stock prices | |
---|---|
Current Share Price | UK£4.78 |
52 Week High | UK£4.82 |
52 Week Low | UK£3.77 |
Beta | 0.79 |
1 Month Change | 2.25% |
3 Month Change | 4.25% |
1 Year Change | 26.79% |
3 Year Change | 19.50% |
5 Year Change | 38.35% |
Change since IPO | 123.36% |
Recent News & Updates
Shareholder Returns
SIR | GB REITs | GB Market | |
---|---|---|---|
7D | 4.8% | 1.6% | 1.8% |
1Y | 26.8% | -3.7% | -7.3% |
Return vs Industry: SIR exceeded the UK REITs industry which returned -3.7% over the past year.
Return vs Market: SIR exceeded the UK Market which returned -7.3% over the past year.
Price Volatility
SIR volatility | |
---|---|
SIR Average Weekly Movement | 3.9% |
REITs Industry Average Movement | 3.3% |
Market Average Movement | 5.5% |
10% most volatile stocks in GB Market | 10.8% |
10% least volatile stocks in GB Market | 2.8% |
Stable Share Price: SIR is less volatile than 75% of UK stocks over the past 3 months, typically moving +/- 4% a week.
Volatility Over Time: SIR's weekly volatility (4%) has been stable over the past year.
About the Company
Founded | Employees | CEO | Website |
---|---|---|---|
2007 | n/a | n/a | https://www.SecureIncomeREIT.co.uk |
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 June 2020 independent external valuation. With net assets of £1.25 billion and some £220 million of Uncommitted Cash held at 30 June 2020, the Company has been well positioned to provide support to its tenants through the Covid-19 pandemic while maintaining its strong financial discipline and balance sheet strength.
Secure Income REIT Fundamentals Summary
SIR fundamental statistics | |
---|---|
Market Cap | UK£1.52b |
Earnings (TTM) | UK£199.60m |
Revenue (TTM) | UK£122.40m |
7.7x
P/E Ratio12.6x
P/S RatioIs SIR overvalued?
See Fair Value and valuation analysisEarnings & Revenue
SIR income statement (TTM) | |
---|---|
Revenue | UK£122.40m |
Cost of Revenue | UK£600.00k |
Gross Profit | UK£121.80m |
Other Expenses | -UK£77.80m |
Earnings | UK£199.60m |
Last Reported Earnings
Dec 31, 2021
Next Earnings Date
n/a
Earnings per share (EPS) | 0.62 |
Gross Margin | 99.51% |
Net Profit Margin | 163.07% |
Debt/Equity Ratio | 66.6% |
How did SIR perform over the long term?
See historical performance and comparisonDividends
3.3%
Current Dividend Yield43%
Payout RatioValuation
Is SIR undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
3/6Valuation Score 3/6
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
PEG Ratio
Key Valuation Metric
Which metric is best to use when looking at relative valuation for SIR?
Other financial metrics that can be useful for relative valuation.
What is SIR's n/a Ratio? | |
---|---|
n/a Ratio | 0x |
n/a | n/a |
Market Cap | UK£1.52b |
Key Statistics | |
---|---|
Enterprise Value/Revenue | 18.5x |
Enterprise Value/EBITDA | 21.3x |
PEG Ratio | -0.6x |
Price to Earnings Ratio vs Peers
How does SIR's PE Ratio compare to its peers?
SIR PE Ratio vs Peers |
---|
Company | PE | Estimated Growth | Market Cap |
---|---|---|---|
Peer Average | 5.3x | ||
UKCM UK Commercial Property REIT | 4.4x | n/a | UK£1.0b |
BCPT BMO Commercial Property Trust | 5.4x | n/a | UK£823.5m |
LXI LXI REIT | 8.2x | -10.6% | UK£1.3b |
PCTN Picton Property Income | 3.5x | -40.5% | UK£502.0m |
SIR Secure Income REIT | 7.7x | -12.7% | UK£1.5b |
Price-To-Earnings vs Peers: SIR is expensive based on its Price-To-Earnings Ratio (7.7x) compared to the peer average (5.3x).
Price to Earnings Ratio vs Industry
How does SIR's PE Ratio compare vs other companies in the GB REITs Industry?
Price-To-Earnings vs Industry: SIR is good value based on its Price-To-Earnings Ratio (7.7x) compared to the UK REITs industry average (7.8x)
Price to Earnings Ratio vs Fair Ratio
What is SIR's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.
Fair Ratio | |
---|---|
Current PE Ratio | 7.7x |
Fair PE Ratio | 12.5x |
Price-To-Earnings vs Fair Ratio: SIR is good value based on its Price-To-Earnings Ratio (7.7x) compared to the estimated Fair Price-To-Earnings Ratio (12.5x).
Share Price vs Fair Value
What is the Fair Price of SIR when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: SIR (£4.78) is trading below our estimate of fair value (£5.52)
Significantly Below Fair Value: SIR is trading below fair value, but not by a significant amount.
Price to Earnings Growth Ratio
PEG Ratio: SIR's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
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Future Growth
How is Secure Income REIT forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
Future Growth Score
0/6Future Growth Score 0/6
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE
-12.7%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: SIR's earnings are forecast to decline over the next 3 years (-12.7% per year).
Earnings vs Market: SIR's earnings are forecast to decline over the next 3 years (-12.7% per year).
High Growth Earnings: SIR's earnings are forecast to decline over the next 3 years.
Revenue vs Market: SIR's revenue (1.3% per year) is forecast to grow slower than the UK market (4.1% per year).
High Growth Revenue: SIR's revenue (1.3% 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
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Past Performance
How has Secure Income REIT performed over the past 5 years?
Past Performance Score
1/6Past Performance Score 1/6
Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE
-17.8%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: SIR has a large one-off gain of £140.2M impacting its December 31 2021 financial results.
Growing Profit Margin: SIR became profitable in the past.
Past Earnings Growth Analysis
Earnings Trend: SIR's earnings have declined by 17.8% per year over the past 5 years.
Accelerating Growth: SIR has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.
Earnings vs Industry: SIR has become profitable in the last year, making it difficult to compare its past year earnings growth to the REITs industry (129.6%).
Return on Equity
High ROE: SIR's Return on Equity (14.6%) is considered low.
Discover strong past performing companies
Financial Health
How is Secure Income REIT's financial position?
Financial Health Score
1/6Financial Health Score 1/6
Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage
Financial Position Analysis
Short Term Liabilities: SIR's short term assets (£201.2M) do not cover its short term liabilities (£415.4M).
Long Term Liabilities: SIR's short term assets (£201.2M) do not cover its long term liabilities (£577.3M).
Debt to Equity History and Analysis
Debt Level: SIR's net debt to equity ratio (52.1%) is considered high.
Reducing Debt: SIR's debt to equity ratio has reduced from 129.4% to 66.6% over the past 5 years.
Debt Coverage: SIR's debt is not well covered by operating cash flow (12.4%).
Interest Coverage: SIR's interest payments on its debt are not well covered by EBIT (2.2x coverage).
Balance Sheet
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Dividend
What is Secure Income REIT current dividend yield, its reliability and sustainability?
Dividend Score
2/6Dividend Score 2/6
Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage
3.31%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: SIR's dividend (3.31%) is higher than the bottom 25% of dividend payers in the UK market (1.87%).
High Dividend: SIR's dividend (3.31%) is low compared to the top 25% of dividend payers in the UK market (5.16%).
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 6 years.
Earnings Payout to Shareholders
Earnings Coverage: With its reasonably low payout ratio (43.4%), SIR's dividend payments are well covered by earnings.
Cash Payout to Shareholders
Cash Flow Coverage: With its reasonably low cash payout ratio (44.9%), SIR's dividend payments are well covered by cash flows.
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Management
How experienced are the management team and are they aligned to shareholders interests?
8.1yrs
Average board tenure
CEO
Secure Income REIT has no CEO, or we have no data on them.
Board Members
Experienced Board: SIR's board of directors are considered experienced (8.1 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 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
- Implied Market Cap: UK£1.524b
- Shares outstanding: 322.85m
- Website: https://www.SecureIncomeREIT.co.uk
Location
- Secure Income REIT Plc
- Cavendish House
- 18 Cavendish Square
- London
- East Lothian
- W1G 0PJ
- United Kingdom
Listings
Company Analysis and Financial Data Status
Data | Last Updated (UTC time) |
---|---|
Company Analysis | 2022/06/28 00:00 |
End of Day Share Price | 2022/06/28 00:00 |
Earnings | 2021/12/31 |
Annual Earnings | 2021/12/31 |
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.