LSE:AGR

Stock Analysis Report

Executive Summary

Assura plc, a constituent of the FTSE 250 and the EPRA* indices, is a UK REIT and longterm investor in and developer of primary care property.

Snowflake

Fundamentals

Second-rate dividend payer with limited growth.


Similar Companies

Share Price & News

How has Assura's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

0.7%

AGR

2.5%

GB REITs

-0.4%

GB Market


1 Year Return

34.6%

AGR

6.8%

GB REITs

2.9%

GB Market

Return vs Industry: AGR exceeded the UK REITs industry which returned 6.8% over the past year.

Return vs Market: AGR exceeded the UK Market which returned 2.9% over the past year.


Shareholder returns

AGRIndustryMarket
7 Day0.7%2.5%-0.4%
30 Day6.8%7.4%-1.4%
90 Day17.1%9.1%-2.1%
1 Year40.9%34.6%11.6%6.8%7.9%2.9%
3 Year43.1%25.7%28.2%10.1%18.0%3.6%
5 Year90.9%55.5%40.2%12.4%35.8%6.4%

Price Volatility Vs. Market

How volatile is Assura's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Assura undervalued compared to its fair value and its price relative to the market?

21.47x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Undervalued: AGR (£0.75) is trading above our estimate of fair value (£0.6)

Significantly Undervalued: AGR is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: AGR is poor value based on its PE Ratio (21.5x) compared to the REITs industry average (13.7x).

PE vs Market: AGR is poor value based on its PE Ratio (21.5x) compared to the UK market (16.7x).


Price to Earnings Growth Ratio

Low PEG Ratio: AGR is poor value based on its PEG Ratio (1.9x)


Price to Book Ratio

PB vs Industry: AGR is overvalued based on its PB Ratio (1.4x) compared to the GB REITs industry average (0.9x).


Next Steps

Future Growth

How is Assura forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

11.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: AGR's forecast earnings growth (11.5% per year) is above the savings rate (1.2%).

Earnings vs Market: AGR's earnings (11.5% per year) are forecast to grow slower than the UK market (12.6% per year).

High Growth Earnings: AGR's earnings are forecast to grow, but not significantly.

Revenue vs Market: AGR's revenue (6.8% per year) is forecast to grow faster than the UK market (3.9% per year).

High Growth Revenue: AGR's revenue (6.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: AGR's Return on Equity is forecast to be low in 3 years time (5%).


Next Steps

Past Performance

How has Assura performed over the past 5 years?

19.9%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: AGR's earnings have grown by 19.9% per year over the past 5 years.

Accelerating Growth: AGR's earnings growth over the past year (17%) is below its 5-year average (19.9% per year).

Earnings vs Industry: AGR earnings growth over the past year (17%) exceeded the REITs industry -16.8%.


Return on Equity

High ROE: AGR's Return on Equity (6.6%) is considered low.


Return on Assets

ROA vs Industry: AGR's Return on Assets is below or equal to the REITs industry average last year.


Return on Capital Employed

ROCE Improving: AGR's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Assura'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

Inventory Level: AGR has a high level of physical assets or inventory.

Debt Coverage by Assets: AGR's debt is not covered by short term assets (assets are 0.1x debt).


Financial Institutions Analysis

Asset Level: AGR's level of assets compared to its equity is low.

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

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

Loan Level: Insufficient data to determine if AGR has an acceptable proportion of non-loan assets held.

Low Risk Deposits: AGR has advanced significantly more loans than the customer deposits it holds.

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


Next Steps

Dividend

What is Assura's current dividend yield, its reliability and sustainability?

3.63%

Current Dividend Yield


Dividend Yield vs Market

company3.6%marketbottom25%2.0%markettop25%5.4%industryaverage4.0%forecastin3Years3.9%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: AGR's dividend (3.63%) is higher than the bottom 25% of dividend payers in the UK market (2.01%).

High Dividend: AGR's dividend (3.63%) is low compared to the top 25% of dividend payers in the UK market (5.36%).

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

Growing Dividend: AGR's dividend payments have increased, but the company has only paid a dividend for 9 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (75.4%), AGR's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: AGR's dividends in 3 years are forecast to be covered by earnings (95.4% payout ratio).


Next Steps

Management

What is the CEO of Assura's salary, the management and board of directors tenure and is there insider trading?

1.8yrs

Average management tenure


CEO

Jonathan Murphy (47yo)

3yrs

Tenure

UK£760,000

Compensation

Mr. Jonathan Stewart Murphy, ACA, MBA has been the Chief Executive Officer of Assura Plc since February 27, 2017. Mr. Murphy serves as Company Secretary of Regenesis Group PLC. He has significant experienc ...


CEO Compensation Analysis

Compensation vs. Market: Jonathan's total compensation ($USD978.28K) is about average for companies of similar size in the UK market ($USD1.81M).

Compensation vs Earnings: Jonathan's compensation has been consistent with company performance over the past year.


Management Age and Tenure

1.8yrs

Average Tenure

Experienced Management: AGR's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.


Board Age and Tenure

1.7yrs

Average Tenure

57yo

Average Age

Experienced Board: AGR's board of directors are not considered experienced ( 1.7 years average tenure), which suggests a new board.


Insider Trading

Insider Buying: AGR insiders have only sold shares in the past 3 months.


Recent Insider Transactions

SellUK£6,94409 Sep 19
Orla Ball
EntityIndividual
Role
Member of Management Board
Head of Legal
Shares9,733
Max PriceUK£0.71
BuyUK£30,09204 Jun 19
Jayne Cottam
EntityIndividual
Role
Member of the Board of Directors
CFO, Member of Executive Board & Executive Director
Shares47,200
Max PriceUK£0.64

Ownership Breakdown


Management Team

  • Jonathan Murphy (47yo)

    CEO, Member of Executive Board & Executive Director

    • Tenure: 3yrs
    • Compensation: UK£760.00k
  • Carolyn Jones

    Head of Investor Relations & Communications

    • Tenure: 6.8yrs
  • Orla Ball

    Head of Legal

    • Tenure: 0yrs
  • Patrick Lowther

    Head of Investment & Member of Executive Board

    • Tenure: 0yrs
  • Claire Rick

    Head of Public Affairs

    • Tenure: 0.8yrs
  • David Purcell

    Head of Financial Reporting

    • Tenure: 1.8yrs
  • Simon Gould

    Head of Development & Member of Executive Board

    • Tenure: 0yrs
  • Jayne Cottam

    CFO, Member of Executive Board & Executive Director

    • Tenure: 2.1yrs
    • Compensation: UK£344.00k
  • Belinda Lewis

    Head of HR & Member of Executive Board

    • Tenure: 0.9yrs
  • Simon Oborn

    Head of Portfolio Management & Member of Executive Board

    • Tenure: 0.2yrs

Board Members

  • Jonathan Davies (57yo)

    Senior Independent Director

    • Tenure: 0.3yrs
    • Compensation: UK£32.20k
  • Jenefer Greenwood (61yo)

    Non-Executive Director

    • Tenure: 7.4yrs
    • Compensation: UK£47.30k
  • Jonathan Murphy (47yo)

    CEO, Member of Executive Board & Executive Director

    • Tenure: 3yrs
    • Compensation: UK£760.00k
  • Louise Fowler

    Non-Executive Director

    • Tenure: 0.3yrs
  • Ed Smith

    Non-Executive Chairman

    • Tenure: 1.3yrs
    • Compensation: UK£119.60k
  • Jayne Cottam

    CFO, Member of Executive Board & Executive Director

    • Tenure: 2.1yrs
    • Compensation: UK£344.00k

Company Information

Assura Plc's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Assura Plc
  • Ticker: AGR
  • Exchange: LSE
  • Founded:
  • Industry: Health Care REITs
  • Sector: Real Estate
  • Market Cap: UK£1.818b
  • Shares outstanding: 2.41b
  • Website: https://www.assuraplc.com

Number of Employees


Location

  • Assura Plc
  • The Brew House
  • Greenalls Avenue
  • Warrington
  • East Lothian
  • WA4 6HL
  • United Kingdom

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AGRLSE (London Stock Exchange)YesNew Ordinary SharesGBGBPNov 2003
AGRlBATS-CHIXE (BATS 'Chi-X Europe')YesNew Ordinary SharesGBGBPNov 2003
75ADB (Deutsche Boerse AG)YesNew Ordinary SharesDEEURNov 2003

Biography

Assura plc, a constituent of the FTSE 250 and the EPRA* indices, is a UK REIT and longterm investor in and developer of primary care property. The company, headquartered in Warrington, works with GPs, heal ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/19 21:50
End of Day Share Price2019/10/18 00:00
Earnings2019/03/31
Annual Earnings2019/03/31


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.