McKay Securities
Market Cap
UK£180.2m
Last Updated
2020/09/19 02:34 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. More Details
Risk Analysis
Snowflake Analysis
Unattractive dividend payer with poor track record.
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
Stable Share Price: MCKS has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
-4.3%
MCKS
2.0%
GB REITs
0.4%
GB Market
1 Year Return
-16.2%
MCKS
-14.1%
GB REITs
-13.8%
GB Market
Return vs Industry: MCKS underperformed the UK REITs industry which returned -14.4% over the past year.
Return vs Market: MCKS underperformed the UK Market which returned -13.2% over the past year.
Shareholder returns
| MCKS | Industry | Market | |
|---|---|---|---|
| 7 Day | -4.3% | 2.0% | 0.4% |
| 30 Day | 4.4% | -0.1% | -0.3% |
| 90 Day | -3.5% | -3.2% | -1.7% |
| 1 Year | -13.4%-16.2% | -11.7%-14.1% | -10.4%-13.8% |
| 3 Year | 2.0%-8.9% | 2.9%-8.7% | -4.3%-15.8% |
| 5 Year | -8.8%-24.8% | 0.9%-16.8% | 22.8%-4.6% |
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
2 weeks ago | Simply Wall St
Why McKay Securities' (LON:MCKS) CEO Pay Matters2 months ago | Simply Wall St
What Type Of Returns Would McKay Securities'(LON:MCKS) Shareholders Have Earned If They Purchased Their SharesFive Years Ago?3 months ago | Simply Wall St
Do Directors Own McKay Securities Plc (LON:MCKS) Shares?Valuation
Is McKay Securities undervalued compared to its fair value and its price relative to the market?
22.23x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: MCKS (£1.91) is trading above our estimate of fair value (£1.84)
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 (22.2x) compared to the GB REITs industry average (17.2x).
PE vs Market: MCKS is poor value based on its PE Ratio (22.2x) compared to the UK market (17.3x).
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's PB Ratio (0.6x) is in line with the GB REITs industry average.
Next Steps
Future Growth
How is McKay Securities forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?
-8.1%
Forecasted annual revenue growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: Insufficient data to determine if MCKS's forecast earnings growth is above the savings rate (1.2%).
Earnings vs Market: Insufficient data to determine if MCKS'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: MCKS's revenue is expected to decline over the next 3 years (-8.1% per year).
High Growth Revenue: MCKS's revenue is forecast to decline over the next 3 years (-8.1% 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?
-21.2%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: MCKS has high quality earnings.
Growing Profit Margin: MCKS's current net profit margins (27.6%) are lower than last year (52%).
Past Earnings Growth Analysis
Earnings Trend: MCKS's earnings have declined by 21.2% 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 (-38.6%) over the past year, making it difficult to compare to the REITs industry average (-26.9%).
Return on Equity
High ROE: MCKS's Return on Equity (2.6%) is considered low.
Next Steps
Financial Health
How is McKay Securities's financial position?
Financial Position Analysis
Short Term Liabilities: MCKS's short term assets (£88.5M) exceed its short term liabilities (£14.1M).
Long Term Liabilities: MCKS's short term assets (£88.5M) do not cover its long term liabilities (£196.7M).
Debt to Equity History and Analysis
Debt Level: MCKS's debt to equity ratio (61.6%) is considered high.
Reducing Debt: MCKS's debt to equity ratio has increased from 60.2% to 61.6% over the past 5 years.
Debt Coverage: MCKS's debt is not well covered by operating cash flow (3.6%).
Interest Coverage: MCKS's interest payments on its debt are not well covered by EBIT (2.6x coverage).
Balance Sheet
Next Steps
Dividend
What is McKay Securities's current dividend yield, its reliability and sustainability?
3.77%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: MCKS's dividend (3.77%) is higher than the bottom 25% of dividend payers in the UK market (1.86%).
High Dividend: MCKS's dividend (3.77%) is low compared to the top 25% of dividend payers in the UK market (5.16%).
Stability and Growth of Payments
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 (141.1%), 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 (95.1% payout ratio).
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Management
How experienced are the management team and are they aligned to shareholders interests?
8.0yrs
Average management tenure
CEO
Simon Perkins (55 yo)
17.67yrs
Tenure
UK£891,000
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 ...
CEO Compensation Analysis
Compensation vs Market: Simon's total compensation ($USD1.15M) is above average for companies of similar size in the UK market ($USD687.45K).
Compensation vs Earnings: Simon's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Executive Director | 17.67yrs | UK£891.00k | 0.37% £ 664.1k | |
| CFO & Executive Director | 9.08yrs | UK£594.00k | 0.18% £ 319.6k | |
| Property Director | 3.42yrs | UK£507.00k | 0.041% £ 74.6k | |
| Asset Manager | 8yrs | no data | no data | |
| Head of Occupier Services | 3.75yrs | no data | no data | |
| Head of Projects | 1.67yrs | no data | no data | |
| Company Secretary | 10.83yrs | no data | no data | |
| Asset Manager | no data | no data | no data |
8.0yrs
Average Tenure
54yo
Average Age
Experienced Management: MCKS's management team is seasoned and experienced (8 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Executive Director | 17.67yrs | UK£891.00k | 0.37% £ 664.1k | |
| CFO & Executive Director | 9.08yrs | UK£594.00k | 0.18% £ 319.6k | |
| Property Director | 3.42yrs | UK£507.00k | 0.041% £ 74.6k | |
| Independent Non-Executive Chairman of the Board | 4.17yrs | UK£90.00k | 0.061% £ 110.1k | |
| Employee Representative Non-Executive Director | 5.67yrs | UK£46.00k | 0.025% £ 44.5k | |
| Senior Independent Non-Executive Director | 3yrs | UK£46.00k | 0.027% £ 48.4k | |
| Independent Non-Executive Director | 3.67yrs | UK£41.00k | no data |
4.2yrs
Average Tenure
55yo
Average Age
Experienced Board: MCKS's board of directors are considered experienced (4.2 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: MCKS 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
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£180.188m
- Shares outstanding: 94.34m
- 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 |
| MCKA.F | OTCPK (Pink Sheets LLC) | Yes | Ordinary Shares | US | USD | 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 | 2020/09/19 02:34 |
| End of Day Share Price | 2020/09/18 00:00 |
| Earnings | 2020/03/31 |
| 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.