McKay Securities
Market Cap
UK£208.3m
Last Updated
2019/10/22 20:37 UTC
Data Sources
Company Financials +
Executive Summary
McKay Securities Plc is a commercial property investment company with Real Estate Investment Trust (REIT) status, listed on the main market of the London Stock Exchange.
Snowflake
Fundamentals
Slightly overvalued unattractive dividend payer.
Similar Companies
Share Price & News
How has McKay Securities's share price performed over time and what events caused price changes?
Latest Share Price and Events
Market Performance
7 Day Return
2.2%
MCKS
0.9%
GB REITs
0.08%
GB Market
1 Year Return
-13.3%
MCKS
9.2%
GB REITs
3.5%
GB Market
Return vs Industry: MCKS underperformed the UK REITs industry which returned 9.2% over the past year.
Return vs Market: MCKS underperformed the UK Market which returned 3.5% over the past year.
Shareholder returns
| MCKS | Industry | Market | |
|---|---|---|---|
| 7 Day | 2.2% | 0.9% | 0.08% |
| 30 Day | 0.4% | 7.6% | -1.3% |
| 90 Day | 3.6% | 8.9% | -2.2% |
| 1 Year | -9.6%-13.3% | 14.0%9.2% | 9.0%3.5% |
| 3 Year | 35.9%20.2% | 28.5%10.3% | 18.1%3.1% |
| 5 Year | 22.5%0.9% | 40.3%12.5% | 36.2%5.3% |
Price Volatility Vs. Market
How volatile is McKay Securities's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 month ago | Simply Wall St
Are Dividend Investors Making A Mistake With McKay Securities Plc (LON:MCKS)?2 months ago | Simply Wall St
Can We See Significant Institutional Ownership On The McKay Securities Plc (LON:MCKS) Share Register?2 months ago | Simply Wall St
The McKay Securities (LON:MCKS) Share Price Is Down 20% So Some Shareholders Are Getting WorriedValuation
Is McKay Securities undervalued compared to its fair value and its price relative to the market?
16.34x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: MCKS (£2.29) is trading above our estimate of fair value (£2.27)
Significantly Below Fair Value: MCKS is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: MCKS is poor value based on its PE Ratio (16.3x) compared to the REITs industry average (13.8x).
PE vs Market: MCKS is good value based on its PE Ratio (16.3x) compared to the UK market (16.7x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate MCKS's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: MCKS is good value based on its PB Ratio (0.7x) compared to the GB REITs industry average (0.9x).
Next Steps
Future Growth
How is McKay Securities forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?
5.9%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: MCKS's forecast earnings growth (5.9% per year) is above the savings rate (1.2%).
Earnings vs Market: MCKS's earnings (5.9% per year) are forecast to grow slower than the UK market (12.4% per year).
High Growth Earnings: MCKS's earnings are forecast to grow, but not significantly.
Revenue vs Market: MCKS's revenue is expected to decline over the next 3 years (-1.7% per year).
High Growth Revenue: MCKS's revenue is forecast to decline over the next 3 years (-1.7% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if MCKS's Return on Equity is forecast to be high in 3 years time
Next Steps
Past Performance
How has McKay Securities performed over the past 5 years?
-5.6%
Historical annual earnings growth
Earnings and Revenue History
Past Earnings Growth Analysis
Earnings Trend: MCKS's earnings have declined by -5.6% per year over the past 5 years.
Accelerating Growth: MCKS's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: MCKS had negative earnings growth (-69.6%) over the past year, making it difficult to compare to the REITs industry average (-18.3%).
Return on Equity
High ROE: MCKS's Return on Equity (4.2%) is considered low.
Return on Assets
ROA vs Industry: MCKS's Return on Assets is below or equal to the REITs industry average last year.
Return on Capital Employed
ROCE Improving: MCKS's Return on Capital Employed has declined over the past 3 years.
Next Steps
Financial Health
How is McKay Securities'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: MCKS has a high level of physical assets or inventory.
Debt Coverage by Assets: MCKS's debt is not covered by short term assets (assets are 0.1x debt).
Financial Institutions Analysis
Asset Level: MCKS's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if MCKS has a sufficient allowance for bad loans.
Low Risk Liabilities: MCKS reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if MCKS has an acceptable proportion of non-loan assets held.
Low Risk Deposits: MCKS has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if MCKS has an appropriate level of bad loans.
Next Steps
Dividend
What is McKay Securities's current dividend yield, its reliability and sustainability?
4.45%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Stability and Growth of Payments
Notable Dividend: MCKS's dividend (4.45%) is higher than the bottom 25% of dividend payers in the UK market (1.98%).
High Dividend: MCKS's dividend (4.45%) is low compared to the top 25% of dividend payers in the UK market (5.37%).
Stable Dividend: MCKS's dividend payments have been volatile in the past 10 years.
Growing Dividend: MCKS's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (111.7%), MCKS's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: MCKS's dividends in 3 years are forecast to be covered by earnings (97.9% payout ratio).
Next Steps
Management
What is the CEO of McKay Securities's salary, the management and board of directors tenure and is there insider trading?
7.1yrs
Average management tenure
CEO
Simon Perkins (54yo)
16.8yrs
Tenure
UK£805,000
Compensation
Mr. Simon C. Perkins, BSc(Hons), M.R.I.C.S., has been the Chief Executive Officer and Managing Director of McKay Securities PLC since January 2003 and its Executive Director since April 2001. Mr. Perkins j ...
CEO Compensation Analysis
Compensation vs. Market: Simon's total compensation ($USD1.04M) is about average for companies of similar size in the UK market ($USD659.56K).
Compensation vs Earnings: Simon's compensation has been consistent with company performance over the past year.
Management Age and Tenure
7.1yrs
Average Tenure
53yo
Average Age
Experienced Management: MCKS's management team is seasoned and experienced (7.1 years average tenure).
Board Age and Tenure
3.3yrs
Average Tenure
54yo
Average Age
Experienced Board: MCKS's board of directors are considered experienced (3.3 years average tenure).
Insider Trading
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
| Entity | Individual |
| Role | Member of the Board of Directors Employee Representative Non-Executive Director |
| Shares | 7,740 |
| Max Price | UK£2.58 |
Ownership Breakdown
Management Team
Simon Perkins (54yo)
CEO & Executive Director
- Tenure: 16.8yrs
- Compensation: UK£805.00k
Joanne McKeown
Company Secretary
- Tenure: 9.9yrs
Tom Elliott (44yo)
Property Director & Executive Director
- Tenure: 2.5yrs
- Compensation: UK£456.00k
Giles Salmon (53yo)
CFO & Executive Director
- Tenure: 8.2yrs
- Compensation: UK£540.00k
Stuart Key
Asset Manager
- Tenure: 7.1yrs
Lynda Perry
Head of Occupier Services
- Tenure: 2.8yrs
Andrew Jones
Head of Projects
- Tenure: 0.8yrs
Richard Morgan
Asset Manager
- Tenure: 0yrs
Board Members
Richard Grainger (59yo)
Non-Executive Chairman of the Board
- Tenure: 3.3yrs
- Compensation: UK£90.00k
Simon Perkins (54yo)
CEO & Executive Director
- Tenure: 16.8yrs
- Compensation: UK£805.00k
Nick Shepherd (60yo)
Employee Representative Non-Executive Director
- Tenure: 4.8yrs
- Compensation: UK£45.00k
Jon Austen (63yo)
Senior Independent Non-Executive Director
- Tenure: 2.1yrs
- Compensation: UK£45.00k
Tom Elliott (44yo)
Property Director & Executive Director
- Tenure: 2.5yrs
- Compensation: UK£456.00k
Giles Salmon (53yo)
CFO & Executive Director
- Tenure: 8.2yrs
- Compensation: UK£540.00k
Jeremy Bates (53yo)
Independent Non-Executive Director
- Tenure: 2.8yrs
- Compensation: UK£40.00k
Company Information
McKay Securities Plc's company bio, employee growth, exchange listings and data sources
Key Information
- Name: McKay Securities Plc
- Ticker: MCKS
- Exchange: LSE
- Founded: 1946
- Industry: Office REITs
- Sector: Real Estate
- Market Cap: UK£208.323m
- Shares outstanding: 94.26m
- Website: https://www.mckaysecurities.plc.uk
Number of Employees
Location
- McKay Securities Plc
- 20 Greyfriars Road
- Reading
- East Lothian
- RG1 1NL
- United Kingdom
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| MCKS | LSE (London Stock Exchange) | Yes | Ordinary Shares | GB | GBP | Jan 1992 |
| M8K | DB (Deutsche Boerse AG) | Yes | Ordinary Shares | DE | EUR | Jan 1992 |
| MCKSl | BATS-CHIXE (BATS 'Chi-X Europe') | Yes | Ordinary Shares | GB | GBP | Jan 1992 |
Biography
McKay Securities Plc is a commercial property investment company with Real Estate Investment Trust (REIT) status, listed on the main market of the London Stock Exchange. It specialises in the development a ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2019/10/22 20:37 |
| End of Day Share Price | 2019/10/22 00:00 |
| Earnings | 2019/03/31 |
| Annual Earnings | 2019/03/31 |
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.