LSE:SLI

Stock Analysis Report

Standard Life Investments Property Income Trust

Executive Summary

Standard Life Investments is a leading asset manager with an expanding global reach.


Snowflake Analysis

Good value average dividend payer.


Similar Companies

Share Price & News

How has Standard Life Investments Property Income Trust's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: SLI has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

0.4%

SLI

-3.0%

GB REITs

-4.4%

GB Market


1 Year Return

6.4%

SLI

9.4%

GB REITs

1.4%

GB Market

Return vs Industry: SLI underperformed the UK REITs industry which returned 9.4% over the past year.

Return vs Market: SLI exceeded the UK Market which returned 1.4% over the past year.


Shareholder returns

SLIIndustryMarket
7 Day0.4%-3.0%-4.4%
30 Day-1.9%-2.9%-6.3%
90 Day6.4%0.7%-2.7%
1 Year12.2%6.4%14.2%9.4%6.7%1.4%
3 Year26.9%8.3%23.9%6.5%12.6%-1.5%
5 Year45.2%12.6%23.8%-0.8%28.8%-0.7%

Price Volatility Vs. Market

How volatile is Standard Life Investments Property Income Trust's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Standard Life Investments Property Income Trust undervalued compared to its fair value and its price relative to the market?

31.2%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: SLI (£0.94) is trading below our estimate of fair value (£1.36)

Significantly Below Fair Value: SLI is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: SLI is good value based on its PE Ratio (15.2x) compared to the REITs industry average (15.2x).

PE vs Market: SLI is good value based on its PE Ratio (15.2x) compared to the UK market (17.7x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate SLI's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: SLI is overvalued based on its PB Ratio (1x) compared to the GB REITs industry average (1x).


Next Steps

Future Growth

How is Standard Life Investments Property Income Trust forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

25.8%

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 Standard Life Investments Property Income 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.


Next Steps

Past Performance

How has Standard Life Investments Property Income Trust performed over the past 5 years?

4.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SLI has a large one-off gain of £4.4M impacting its June 30 2019 financial results.

Growing Profit Margin: SLI's current net profit margins (74.8%) are lower than last year .


Past Earnings Growth Analysis

Earnings Trend: SLI's earnings have grown by 4.6% per year over the past 5 years.

Accelerating Growth: SLI's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: SLI had negative earnings growth (-38.7%) over the past year, making it difficult to compare to the REITs industry average (-20.8%).


Return on Equity

High ROE: SLI's Return on Equity (6.8%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Standard Life Investments Property Income Trust'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: SLI has a high level of physical assets or inventory.

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


Financial Institutions Analysis

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

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

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

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

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

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


Next Steps

Dividend

What is Standard Life Investments Property Income Trust's current dividend yield, its reliability and sustainability?

5.08%

Current Dividend Yield


Dividend Yield vs Market

company5.1%marketbottom25%1.9%markettop25%5.3%industryaverage3.9%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: SLI's dividend (5.08%) is higher than the bottom 25% of dividend payers in the UK market (1.9%).

High Dividend: SLI's dividend (5.08%) is low compared to the top 25% of dividend payers in the UK market (5.34%).


Stability and Growth of Payments

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

Growing Dividend: SLI's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (82%), SLI's payments are covered by earnings.


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.


Next Steps

Management

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

7.1yrs

Average management tenure


CEO

Norman Skeoch (62yo)

4.5yrs

Tenure

0

Mr. Norman Keith Skeoch has been the Chief Executive at Standard Life Aberdeen plc since March 13, 2019 and its Executive Director since May 25, 2006. Mr. Skeoch has been the Chief Executive Officer at Sta ...


Leadership Team

NamePositionTenureCompensationOwnership
Colin Walklin
Group Chief Operating Officer0yrsno datano data
Roderick Paris
Chief Investment Officer13.1yrsno datano data
Jonathan Kennedy
Director of Change & Technology3.9yrsno datano data
Julian Coutts
Chief Scientific Officer0yrsno datano data
Jason Baggaley
Fund Manager0yrsno datano data
Andrew Milligan
Head of Global Strategy20.1yrsno datano data
Guy Stern
Global Head of Multi-Asset & Macro Investing11.8yrsno datano data
Amanda Young
Head of Responsible Investment6.4yrsno datano data
Norman Skeoch
Chief Executive Officer of Standard Life Aberdeen Plc4.5yrsno datano data
Richard Charnock
Chief Executive Officer of Standard Life Wealth7.1yrsno datano data

7.1yrs

Average Tenure

60yo

Average Age

Experienced Management: SLI's management team is seasoned and experienced (7.1 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Robert Henry Peto
Independent Chairman of the Board3.7yrsUK£42.00k0.014% £53.8k
Michael Balfour
Non-Executive Director2.9yrsUK£33.50k0.021% £79.0k
Huw Evans
Senior Independent Director0.7yrsUK£33.50k0.015% £56.2k
James Clifton-Brown
Non-Executive Director3.5yrsUK£33.50k0.0053% £20.1k
Jill May
Non-Executive Director0.9yrsno datano data
Sarah Slater
Non-Executive Director0.3yrsno datano data

1.9yrs

Average Tenure

63yo

Average Age

Experienced Board: SLI's board of directors are not considered experienced ( 1.9 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 been diluted in the past year, with total shares outstanding growing by 2.3%.


Top Shareholders

Company Information

Standard Life Investments Property Income Trust Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Standard Life Investments Property Income Trust Limited
  • Ticker: SLI
  • Exchange: LSE
  • Founded: 2003
  • Industry: Diversified REITs
  • Sector: Real Estate
  • Market Cap: UK£381.233m
  • Shares outstanding: 406.87m
  • Website: https://www.slipit.co.uk

Location

  • Standard Life Investments Property Income Trust Limited
  • Trafalgar Court
  • Les Banques
  • Saint Peter Port
  • GY1 3QL
  • United Kingdom

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SLILSE (London Stock Exchange)YesOrdinary SharesGBGBPDec 2003
SLILBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBGBPDec 2003

Biography

Standard Life Investments is a leading asset manager with an expanding global reach. Our wide range of investment solutions is backed by our distinctive Focus on Change investment philosophy, disciplined risk management and shared commitment to a culture of investment excellence. As active managers, we place significant emphasis on rigorous research and a strong collaborative ethos. We constantly think ahead and strive to anticipate change before it happens, ensuring that our clients can look to the future with confidence. Standard Life Investments manages £275.2 billion* on behalf of clients worldwide. Our investment capabilities span equities, fixed income, multi-asset, private markets, real estate, liquidity and private wealth. Headquartered in Edinburgh, Standard Life Investments employs more than 1,700 talented individuals. We maintain a presence in a number of locations around the world including Boston, Hong Kong, Paris, London, Beijing, Sydney, Dublin and Seoul. In addition, we have close relationships with leading domestic players in Asia, including HDFC Asset Management in India and Sumitomo Mitsui Trust Bank in Japan. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/25 20:46
End of Day Share Price2020/02/25 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.