LSE:BCPT

Stock Analysis Report

BMO Commercial Property Trust

Executive Summary

The trust is a vehicle for investors who wish to gain exposure to prime UK commercial property.

Rewards


Snowflake Analysis


Similar Companies

Share Price & News

How has BMO Commercial Property Trust's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: BCPT's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

17.6%

BCPT

-2.1%

GB Real Estate

-5.4%

GB Market


1 Year Return

-42.4%

BCPT

-20.2%

GB Real Estate

-25.2%

GB Market

Return vs Industry: BCPT underperformed the UK Real Estate industry which returned -20% over the past year.

Return vs Market: BCPT underperformed the UK Market which returned -25% over the past year.


Shareholder returns

BCPTIndustryMarket
7 Day17.6%-2.1%-5.4%
30 Day-28.2%-31.4%-20.6%
90 Day-40.8%-35.8%-29.1%
1 Year-39.2%-42.4%-18.2%-20.2%-21.5%-25.2%
3 Year-45.5%-52.4%-21.8%-28.2%-15.3%-25.9%
5 Year-39.3%-51.5%-16.0%-25.8%-3.6%-25.1%

Price Volatility Vs. Market

How volatile is BMO Commercial Property Trust's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is BMO Commercial Property Trust undervalued compared to its fair value and its price relative to the market?

8.4%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: BCPT (£0.69) is trading below our estimate of fair value (£0.75)

Significantly Below Fair Value: BCPT is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: BCPT is unprofitable, so we can't compare its PE Ratio to the Real Estate industry average.

PE vs Market: BCPT 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 BCPT's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: BCPT is good value based on its PB Ratio (0.5x) compared to the GB Real Estate industry average (0.8x).

Future Growth

How is BMO Commercial Property Trust forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

23.7%

Forecasted Real Estate 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 BMO Commercial Property 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.

Past Performance

How has BMO Commercial Property Trust performed over the past 5 years?

-31.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BCPT is currently unprofitable.

Growing Profit Margin: BCPT is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: BCPT is unprofitable, and losses have increased over the past 5 years at a rate of -31.8% per year.

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

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


Return on Equity

High ROE: BCPT has a negative Return on Equity (-0.63%), as it is currently unprofitable.

Financial Health

How is BMO Commercial Property Trust's financial position?


Financial Position Analysis

Short Term Liabilities: BCPT's short term assets (£35.9M) exceed its short term liabilities (£17.5M).

Long Term Liabilities: BCPT's short term assets (£35.9M) do not cover its long term liabilities (£310.6M).


Debt to Equity History and Analysis

Debt Level: BCPT's debt to equity ratio (28.3%) is considered satisfactory.

Reducing Debt: BCPT's debt to equity ratio has reduced from 35.6% to 28.3% over the past 5 years.


Balance Sheet

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

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


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: BCPT has been profitable on average in the past, therefore cash runway is not a concern.

Forecast Cash Runway: Insufficient data to determine if BCPT has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.

Dividend

What is BMO Commercial Property Trust's current dividend yield, its reliability and sustainability?

8.71%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: BCPT's dividend (8.71%) is higher than the bottom 25% of dividend payers in the UK market (2.67%).

High Dividend: BCPT's dividend (8.71%) is in the top 25% of dividend payers in the UK market (7.36%)


Stability and Growth of Payments

Stable Dividend: BCPT's dividends per share have been stable in the past 10 years.

Growing Dividend: BCPT's dividend payments have not increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: BCPT is paying a dividend but the company is unprofitable.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.

Management

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

1.3yrs

Average board tenure


CEO

Richard Wilson (53yo)

no data

Tenure

Mr. Richard Charles Wilson, BA is a Director at BMO Asset Management Corp. He is Chief Executive Officer at BMO Commercial Property Trust Limited (formerly, F&C Commercial Property Trust Limited). He also  ...


Board Members

NamePositionTenureCompensationOwnership
Linda Wilding
Independent Non-Executive Director0.83yrno datano data
Paul Marcuse
Senior Independent Director0.92yrUK£41.25k0.0037% £20.5k
Martin Moore
Independent Chairmanno dataUK£49.50k0.0051% £28.0k
Trudi Clark
Independent Non-Executive Director6.17yrsUK£49.50k0.0070% £38.7k
John Wythe
Independent Non-Executive Director1.58yrsUK£12.55kno data

1.3yrs

Average Tenure

Experienced Board: BCPT's board of directors are not considered experienced ( 1.3 years average tenure), which suggests a new board.


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

BMO Commercial Property Trust Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: BMO Commercial Property Trust Limited
  • Ticker: BCPT
  • Exchange: LSE
  • Founded: 2005
  • Industry: Real Estate Operating Companies
  • Sector: Real Estate
  • Market Cap: UK£550.763m
  • Shares outstanding: 799.37m
  • Website: https://www.bmogam.com/commercial-property-trust/

Location

  • BMO Commercial Property Trust Limited
  • 6th Floor
  • Quartermile 4
  • Edinburgh
  • EH3 9EG
  • United Kingdom

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BCPTLSE (London Stock Exchange)YesNew Ordinary SharesGBGBPMar 2005

Biography

The trust is a vehicle for investors who wish to gain exposure to prime UK commercial property. It is a constituent of the FTSE 250 Index and aims to provide shareholders with an attractive level of income together with the potential for capital and income growth from investing in a diversified UK commercial property portfolio 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/03 00:20
End of Day Share Price2020/04/02 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.