UK Commercial Property REIT
Market Cap
UK£710.8m
Last Updated
2020/05/26 05:50 UTC
Data Sources
Company Financials
Executive Summary
UK Commercial Property REIT (UKCPT) was launched in September 2006, registered as a Guernsey investment company and has a full listing on the London Stock Exchange (FTSE 250).
Snowflake Analysis
Adequate balance sheet and overvalued.
Similar Companies
Share Price & News
How has UK Commercial Property REIT's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: UKCM's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
0.2%
UKCM
1.6%
GB REITs
1.3%
GB Market
1 Year Return
-40.3%
UKCM
-19.5%
GB REITs
-14.4%
GB Market
Return vs Industry: UKCM underperformed the UK REITs industry which returned -21.2% over the past year.
Return vs Market: UKCM underperformed the UK Market which returned -15.3% over the past year.
Shareholder returns
| UKCM | Industry | Market | |
|---|---|---|---|
| 7 Day | 0.2% | 1.6% | 1.3% |
| 30 Day | -9.1% | -2.7% | 5.9% |
| 90 Day | -35.3% | -26.6% | -14.4% |
| 1 Year | -37.9%-40.3% | -16.6%-19.5% | -10.3%-14.4% |
| 3 Year | -29.0%-37.3% | -15.9%-21.9% | -7.2%-18.5% |
| 5 Year | -22.2%-37.2% | -10.3%-26.8% | 9.5%-15.0% |
Price Volatility Vs. Market
How volatile is UK Commercial Property REIT's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 months ago | Simply Wall St
What Kind Of Investor Owns Most Of UK Commercial Property REIT Limited (LON:UKCM)?4 months ago | Simply Wall St
Can UK Commercial Property REIT Limited (LON:UKCM) Improve Its Returns?6 months ago | Simply Wall St
Here's Why We're Wary Of Buying UK Commercial Property REIT Limited's (LON:UKCM) For Its Upcoming DividendValuation
Is UK Commercial Property REIT undervalued compared to its fair value and its price relative to the market?
23.2x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: UKCM (£0.55) is trading above our estimate of fair value (£0.34)
Significantly Below Fair Value: UKCM is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: UKCM is poor value based on its PE Ratio (23.2x) compared to the REITs industry average (13x).
PE vs Market: UKCM is poor value based on its PE Ratio (23.2x) compared to the UK market (14.1x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate UKCM's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: UKCM is good value based on its PB Ratio (0.6x) compared to the GB REITs industry average (0.7x).
Next Steps
Future Growth
How is UK Commercial Property REIT forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
27.2%
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 UK Commercial Property REIT 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
- Examine UK Commercial Property REIT's financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.
- UK Commercial Property REIT competitive advantages and company strategy can generally be found in its financial reports archived here.
- Explore growth companies in the Real Estate industry.
Past Performance
How has UK Commercial Property REIT performed over the past 5 years?
-19.2%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: UKCM has a large one-off loss of £10.3M impacting its June 30 2019 financial results.
Growing Profit Margin: UKCM's current net profit margins (40.9%) are lower than last year .
Past Earnings Growth Analysis
Earnings Trend: UKCM's earnings have declined by -19.2% per year over the past 5 years.
Accelerating Growth: UKCM's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: UKCM had negative earnings growth (-74.1%) over the past year, making it difficult to compare to the REITs industry average (-22.4%).
Return on Equity
High ROE: UKCM's Return on Equity (2.5%) is considered low.
Next Steps
Financial Health
How is UK Commercial Property REIT's financial position?
Financial Position Analysis
Short Term Liabilities: UKCM's short term assets (£89.7M) exceed its short term liabilities (£25.2M).
Long Term Liabilities: UKCM's short term assets (£89.7M) do not cover its long term liabilities (£257.5M).
Debt to Equity History and Analysis
Debt Level: UKCM's debt to equity ratio (21.3%) is considered satisfactory.
Reducing Debt: UKCM's debt to equity ratio has reduced from 24.2% to 21.3% over the past 5 years.
Debt Coverage: UKCM's debt is not well covered by operating cash flow (13.3%).
Interest Coverage: UKCM's interest payments on its debt are well covered by EBIT (6.5x coverage).
Balance Sheet
Next Steps
Dividend
What is UK Commercial Property REIT's current dividend yield, its reliability and sustainability?
3.36%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: UKCM's dividend (3.36%) is higher than the bottom 25% of dividend payers in the UK market (2.03%).
High Dividend: UKCM's dividend (3.36%) is low compared to the top 25% of dividend payers in the UK market (5.85%).
Stability and Growth of Payments
Stable Dividend: UKCM's dividend payments have been volatile in the past 10 years.
Growing Dividend: UKCM's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (125.2%), UKCM's dividend payments are not well 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?
2.0yrs
Average board tenure
CEO
UK Commercial Property REIT has no CEO, or we have no data on them.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Non-Executive Director | 2.08yrs | UK£30.75k | no data | |
| Independent Non-Executive Director | 4.25yrs | UK£43.00k | no data | |
| Chairman of the Board | 0.42yr | UK£48.75k | no data | |
| Independent Non-Executive Director | 6.42yrs | UK£43.00k | no data | |
| Non-Executive Director | 1.92yrs | UK£42.50k | no data | |
| Director | 0.33yr | no data | no data |
2.0yrs
Average Tenure
Experienced Board: UKCM's board of directors are not considered experienced ( 2 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
UK Commercial Property REIT Limited's company bio, employee growth, exchange listings and data sources
Key Information
- Name: UK Commercial Property REIT Limited
- Ticker: UKCM
- Exchange: LSE
- Founded: 2006
- Industry: Diversified REITs
- Sector: Real Estate
- Market Cap: UK£710.779m
- Shares outstanding: 1.30b
- Website: https://www.ukcpreit.co.uk
Location
- UK Commercial Property REIT Limited
- Investment House 1 George Street
- Edinburgh
- Eh2 2-ll
- United Kingdom
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| UKCM | LSE (London Stock Exchange) | Yes | Ordinary Shares | GB | GBP | Sep 2006 |
| UKCML | BATS-CHIXE (BATS 'Chi-X Europe') | Yes | Ordinary Shares | GB | GBP | Sep 2006 |
Biography
UK Commercial Property REIT (UKCPT) was launched in September 2006, registered as a Guernsey investment company and has a full listing on the London Stock Exchange (FTSE 250). The initial offering raised £530m and the proceeds were used to acquire a portfolio of properties from closed life funds held by Phoenix Group Holdings. This provided a means for the life funds to collectivise their property exposure, while at the same time reducing exposure by way of UKCPT attracting additional new shareholders.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/05/26 05:50 |
| End of Day Share Price | 2020/05/22 00:00 |
| Earnings | 2019/06/30 |
| Annual Earnings | 2018/12/31 |
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.