Warehouse REIT
Market Cap
UK£541.7m
Last Updated
2021/02/27 19:14 UTC
Data Sources
Company Financials +
Executive Summary
Warehouse REIT plc owns and manages a diversified portfolio of warehouse real estate assets in UK urban areas. More Details
Snowflake Analysis
Mediocre balance sheet second-rate dividend payer.
Similar Companies
Share Price & News
How has Warehouse REIT's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: WHR is less volatile than 75% of UK stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: WHR's weekly volatility (3%) has been stable over the past year.
Market Performance
7 Day Return
0%
WHR
0.8%
GB REITs
-2.3%
GB Market
1 Year Return
15.9%
WHR
-41.7%
GB REITs
1.1%
GB Market
Return vs Industry: WHR exceeded the UK REITs industry which returned -41.7% over the past year.
Return vs Market: WHR exceeded the UK Market which returned 1.1% over the past year.
Shareholder returns
| WHR | Industry | Market | |
|---|---|---|---|
| 7 Day | 0% | 0.8% | -2.3% |
| 30 Day | 1.6% | 1.7% | -0.1% |
| 90 Day | 7.6% | 4.7% | 4.2% |
| 1 Year | 20.8%15.9% | -8.0%-41.7% | 7.1%1.1% |
| 3 Year | 50.7%28.8% | 0.6%-0.7% | 9.7%-3.4% |
| 5 Year | n/a | 7.4%1.5% | 36.9%10.5% |
Long-Term Price Volatility Vs. Market
How volatile is Warehouse REIT's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 month ago | Simply Wall St
Have Insiders Been Buying Warehouse REIT plc (LON:WHR) Shares This Year?4 months ago | Simply Wall St
If You Had Bought Warehouse REIT (LON:WHR) Shares Three Years Ago You'd Have Earned 11% Returns5 months ago | Simply Wall St
What Type Of Shareholders Own The Most Number of Warehouse REIT plc (LON:WHR) Shares?Valuation
Is Warehouse REIT undervalued compared to its fair value and its price relative to the market?
5.97x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: WHR (£1.28) is trading above our estimate of fair value (£0.74)
Significantly Below Fair Value: WHR is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: WHR is good value based on its PE Ratio (6x) compared to the GB REITs industry average (18.1x).
PE vs Market: WHR is good value based on its PE Ratio (6x) compared to the UK market (23.6x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate WHR's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: WHR is overvalued based on its PB Ratio (1.1x) compared to the GB REITs industry average (0.8x).
Next Steps
Future Growth
How is Warehouse REIT forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?
18.6%
Forecasted annual revenue growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: Insufficient data to determine if WHR's forecast earnings growth is above the savings rate (1%).
Earnings vs Market: Insufficient data to determine if WHR's earnings are forecast to grow faster than the UK market
High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: WHR's revenue (18.6% per year) is forecast to grow faster than the UK market (7.3% per year).
High Growth Revenue: WHR's revenue (18.6% 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 WHR's Return on Equity is forecast to be high in 3 years time
Next Steps
Past Performance
How has Warehouse REIT performed over the past 5 years?
296.3%
Last years earnings growth
Earnings and Revenue History
Quality Earnings: WHR has a large one-off gain of £42.2M impacting its September 30 2020 financial results.
Growing Profit Margin: WHR's current net profit margins are higher than last year (59.1%).
Past Earnings Growth Analysis
Earnings Trend: Insufficient data to determine if WHR's year-on-year earnings growth rate was positive over the past 5 years.
Accelerating Growth: Insufficient data to compare WHR's past year earnings growth to its 5-year average.
Earnings vs Industry: WHR earnings growth over the past year (296.3%) exceeded the REITs industry -4.2%.
Return on Equity
High ROE: WHR's Return on Equity (13%) is considered low.
Next Steps
Financial Health
How is Warehouse REIT's financial position?
Financial Position Analysis
Short Term Liabilities: WHR's short term assets (£56.5M) exceed its short term liabilities (£14.1M).
Long Term Liabilities: WHR's short term assets (£56.5M) do not cover its long term liabilities (£164.9M).
Debt to Equity History and Analysis
Debt Level: WHR's debt to equity ratio (34.3%) is considered satisfactory.
Reducing Debt: Insufficient data to determine if WHR's debt to equity ratio has reduced over the past 5 years.
Debt Coverage: WHR's debt is not well covered by operating cash flow (9.8%).
Interest Coverage: WHR's interest payments on its debt are well covered by EBIT (3.6x coverage).
Balance Sheet
Next Steps
Dividend
What is Warehouse REIT current dividend yield, its reliability and sustainability?
5.02%
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: WHR's dividend (5.02%) is higher than the bottom 25% of dividend payers in the UK market (1.49%).
High Dividend: WHR's dividend (5.02%) is in the top 25% of dividend payers in the UK market (4.57%)
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, WHR has been paying a dividend for less than 10 years.
Growing Dividend: WHR's dividend payments have increased, but the company has only paid a dividend for 3 years.
Current Payout to Shareholders
Dividend Coverage: At its current payout ratio (75.6%), WHR's payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: WHR's dividends in 3 years are not forecast to be well covered by earnings (100.7% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
2.6yrs
Average management tenure
CEO
Andrew Bird (58 yo)
no data
Tenure
Mr. Andrew Charles Bird is a Founded Tilstone Estates Ltd. in 2010 and serves as its Managing Director and Director. Mr. Bird has over 25 years of experience in the commercial property investment and devel...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Managing Director | no data | no data | no data | |
| Finance Director | no data | no data | 0.032% £ 171.6k | |
| Investment Director | 2.67yrs | no data | no data | |
| Head of Financial Planning & Reporting | 0.25yr | no data | no data | |
| Group Financial Controller - Tilstone Partners Limited | 2.58yrs | no data | no data |
2.6yrs
Average Tenure
Experienced Management: WHR's management team is considered experienced (2.6 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Non-Independent Non-Executive Director | 3.58yrs | no data | 2.92% £ 15.8m | |
| Senior Independent Director | no data | UK£35.00k | 0.068% £ 370.9k | |
| Non-Independent Non-Executive Director | 3.58yrs | no data | 2.33% £ 12.6m | |
| Independent Non-Executive Chairman | 3.5yrs | UK£45.00k | 0.092% £ 498.4k | |
| Independent Non-Executive Director | 3.5yrs | UK£35.00k | 0.13% £ 723.0k | |
| Independent Non-Executive Director | 2.25yrs | UK£35.00k | 0.012% £ 65.8k |
3.5yrs
Average Tenure
56yo
Average Age
Experienced Board: WHR's board of directors are considered experienced (3.5 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 been substantially diluted in the past year, with total shares outstanding growing by 76.8%.
Top Shareholders
Company Information
Warehouse REIT plc's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Warehouse REIT plc
- Ticker: WHR
- Exchange: AIM
- Founded: 2017
- Industry: Industrial REITs
- Sector: Real Estate
- Market Cap: UK£541.699m
- Shares outstanding: 424.86m
- Website: https://www.warehousereit.co.uk
Location
- Warehouse REIT plc
- Gorse Stacks House
- Ground Floor
- Chester
- CH1 3EQ
- United Kingdom
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| WHR | AIM (London Stock Exchange AIM Market) | Yes | Ordinary Shares | GB | GBP | Sep 2017 |
Biography
Warehouse REIT plc owns and manages a diversified portfolio of warehouse real estate assets in UK urban areas. This is a compelling market. The structural rise in e-commerce and investment in 'last-mile' d...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/02/27 19:14 |
| End of Day Share Price | 2021/02/26 00:00 |
| Earnings | 2020/09/30 |
| Annual Earnings | 2020/03/31 |
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.