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Green REIT

ISE:GN1
Snowflake Description

Good value with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
GN1
ISE
€1B
Market Cap
  1. Home
  2. IE
  3. Real Estate
Company description

Green REIT Plc is an Irish Real Estate Investment Trust ("REIT") and is listed on the Irish and London Stock Exchanges. The last earnings update was 86 days ago. More info.


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GN1 Share Price and Events
7 Day Returns
0%
ISE:GN1
0.4%
Europe REITs
-0%
IE Market
1 Year Returns
7.6%
ISE:GN1
-3%
Europe REITs
-13.6%
IE Market
GN1 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Green REIT (GN1) 0% 0.4% 17.8% 7.6% 15.8% 36.1%
Europe REITs 0.4% -0.9% 3.2% -3% 0.4% 13.7%
IE Market -0% -5.3% 1.6% -13.6% 0.7% 39.8%
1 Year Return vs Industry and Market
  • GN1 outperformed the REITs industry which returned -3% over the past year.
  • GN1 outperformed the Market in Ireland which returned -13.6% over the past year.
Price Volatility
GN1
Industry
5yr Volatility vs Market

Value

 Is Green REIT undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Green REIT to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Green REIT.

ISE:GN1 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.6%
Perpetual Growth Rate 10-Year IE Government Bond Rate 0.9%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for ISE:GN1
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year IE Govt Bond Rate 0.9%
Equity Risk Premium S&P Global 7.1%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.52
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.523 (1 + (1- 12.5%) (21.64%))
0.747
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.9% + (0.8 * 7.14%)
6.61%

Discounted Cash Flow Calculation for ISE:GN1 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Green REIT is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

ISE:GN1 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 6.61%)
2019 -1.00 Analyst x1 -0.94
2020 41.35 Analyst x2 36.38
2021 56.40 Analyst x2 46.54
2022 68.72 Est @ 21.84% 53.19
2023 79.41 Est @ 15.56% 57.65
2024 88.27 Est @ 11.16% 60.11
2025 95.40 Est @ 8.08% 60.94
2026 101.06 Est @ 5.93% 60.55
2027 105.53 Est @ 4.42% 59.31
2028 109.07 Est @ 3.36% 57.50
Present value of next 10 years cash flows €491.25
ISE:GN1 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €109.07 × (1 + 0.9%) ÷ (6.61% – 0.9%)
€1,926.76
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €1,926.76 ÷ (1 + 6.61%)10
€1,015.70
ISE:GN1 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €491.25 + €1,015.70
€1,506.95
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €1,506.95 / 699.47
€2.15
ISE:GN1 Discount to Share Price
Calculation Result
Value per share (EUR) From above. €2.15
Current discount Discount to share price of €1.71
= -1 x (€1.71 - €2.15) / €2.15
20.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Green REIT is available for.
Intrinsic value
21%
Share price is €1.71 vs Future cash flow value of €2.15
Current Discount Checks
For Green REIT to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Green REIT's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Green REIT's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Green REIT's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Green REIT's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ISE:GN1 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €0.20
ISE:GN1 Share Price ** ISE (2019-05-22) in EUR €1.71
Europe REITs Industry PE Ratio Median Figure of 126 Publicly-Listed REITs Companies 12.57x
Ireland Market PE Ratio Median Figure of 23 Publicly-Listed Companies 11.42x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Green REIT.

ISE:GN1 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ISE:GN1 Share Price ÷ EPS (both in EUR)

= 1.71 ÷ 0.20

8.69x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Green REIT is good value based on earnings compared to the Europe REITs industry average.
  • Green REIT is good value based on earnings compared to the Ireland market.
Price based on expected Growth
Does Green REIT's expected growth come at a high price?
Raw Data
ISE:GN1 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.69x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
-17.7%per year
Europe REITs Industry PEG Ratio Median Figure of 63 Publicly-Listed REITs Companies -0.04x
Ireland Market PEG Ratio Median Figure of 19 Publicly-Listed Companies 0.99x

*Line of best fit is calculated by linear regression .

ISE:GN1 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 8.69x ÷ -17.7%

-0.49x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Green REIT earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Green REIT's assets?
Raw Data
ISE:GN1 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €1.83
ISE:GN1 Share Price * ISE (2019-05-22) in EUR €1.71
Europe REITs Industry PB Ratio Median Figure of 149 Publicly-Listed REITs Companies 0.99x
Ireland Market PB Ratio Median Figure of 33 Publicly-Listed Companies 1.15x
ISE:GN1 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ISE:GN1 Share Price ÷ Book Value per Share (both in EUR)

= 1.71 ÷ 1.83

0.93x

* Primary Listing of Green REIT.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Green REIT is good value based on assets compared to the Europe REITs industry average.
X
Value checks
We assess Green REIT's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Green REIT has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Green REIT expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-17.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Green REIT expected to grow at an attractive rate?
  • Green REIT's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 0.9%.
Growth vs Market Checks
  • Green REIT's earnings are expected to decrease over the next 1-3 years, this is below the Ireland market average.
  • Green REIT's revenue growth is expected to exceed the Ireland market average.
Annual Growth Rates Comparison
Raw Data
ISE:GN1 Future Growth Rates Data Sources
Data Point Source Value (per year)
ISE:GN1 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts -17.7%
ISE:GN1 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 6.1%
Europe REITs Industry Earnings Growth Rate Market Cap Weighted Average 6.2%
Europe REITs Industry Revenue Growth Rate Market Cap Weighted Average 2.3%
Ireland Market Earnings Growth Rate Market Cap Weighted Average 11.9%
Ireland Market Revenue Growth Rate Market Cap Weighted Average 5.2%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
ISE:GN1 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ISE:GN1 Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-06-30 92 99 1
2021-06-30 80 58 26 3
2020-06-30 80 56 61 3
2019-06-30 75 51 101 3
ISE:GN1 Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 69 39 137
2018-09-30 68 41 141
2018-06-30 68 43 144
2018-03-31 61 40 142
2017-12-31 60 36 139
2017-09-30 60 30 134
2017-06-30 60 24 130
2017-03-31 61 24 126
2016-12-31 62 23 122
2016-09-30 66 31 134
2016-06-30 70 38 146
2016-03-31 76 37 147

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Green REIT's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Green REIT's revenue is expected to grow by 6.1% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
ISE:GN1 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Green REIT Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ISE:GN1 Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-06-30 0.14 0.14 0.14 1.00
2021-06-30 0.02 0.07 -0.02 3.00
2020-06-30 0.04 0.05 0.03 2.00
2019-06-30 0.14 0.15 0.13 2.00
ISE:GN1 Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 0.20
2018-09-30 0.20
2018-06-30 0.21
2018-03-31 0.20
2017-12-31 0.20
2017-09-30 0.19
2017-06-30 0.19
2017-03-31 0.18
2016-12-31 0.18
2016-09-30 0.20
2016-06-30 0.21
2016-03-31 0.22

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Green REIT is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Green REIT's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Green REIT has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Green REIT performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Green REIT's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Green REIT's year on year earnings growth rate has been positive over the past 5 years.
  • Green REIT's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Green REIT's 1-year earnings growth is negative, it can't be compared to the Europe REITs industry average.
Earnings and Revenue History
Green REIT's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Green REIT Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ISE:GN1 Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 68.62 136.81 2.04
2018-09-30 68.27 140.52 2.05
2018-06-30 67.91 144.23 2.06
2018-03-31 61.30 141.69 2.17
2017-12-31 59.82 139.14 2.28
2017-09-30 60.12 134.46 2.33
2017-06-30 60.42 129.78 2.37
2017-03-31 61.00 125.93 1.88
2016-12-31 61.57 122.08 1.39
2016-09-30 65.55 133.79 1.60
2016-06-30 69.52 145.50 1.81
2016-03-31 76.40 147.49 2.44
2015-12-31 83.28 149.47 3.07
2015-09-30 83.30 153.09 2.61
2015-06-30 83.32 156.70 2.14
2015-03-31 68.48 137.02 1.65
2014-12-31 53.65 117.34 1.17
2014-09-30 33.40 80.23 1.05
2014-06-30 13.15 43.13 0.93

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Green REIT has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Green REIT used its assets more efficiently than the Europe REITs industry average last year based on Return on Assets.
  • Green REIT's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Green REIT's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Green REIT has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Green REIT's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Green REIT's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Green REIT is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Green REIT's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Green REIT's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Green REIT Company Filings, last reported 4 months ago.

ISE:GN1 Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,278.48 258.53 45.10
2018-09-30 1,278.48 258.53 45.10
2018-06-30 1,251.62 220.19 48.47
2018-03-31 1,251.62 220.19 48.47
2017-12-31 1,170.71 318.48 39.03
2017-09-30 1,170.71 318.48 39.03
2017-06-30 1,152.18 276.66 48.80
2017-03-31 1,152.18 276.66 48.80
2016-12-31 1,060.40 276.57 32.81
2016-09-30 1,060.40 276.57 32.81
2016-06-30 1,048.04 252.95 76.84
2016-03-31 1,048.04 252.95 76.84
2015-12-31 961.54 28.55 46.92
2015-09-30 961.54 28.55 46.92
2015-06-30 899.32 19.42 37.61
2015-03-31 899.32 19.42 37.61
2014-12-31 807.10 18.03 27.33
2014-09-30 807.10 18.03 27.33
2014-06-30 727.77 0.00 18.06
  • Green REIT's level of debt (20.2%) compared to net worth is satisfactory (less than 40%).
  • Unable to establish if Green REIT's debt level has increased without past 5-year debt data.
  • Debt is not well covered by operating cash flow (15.1%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.6x coverage).
X
Financial health checks
We assess Green REIT's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Green REIT has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Green REIT's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.28%
Current annual income from Green REIT dividends. Estimated to be 4.14% next year.
If you bought €2,000 of Green REIT shares you are expected to receive €66 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Green REIT's pays a higher dividend yield than the bottom 25% of dividend payers in Ireland (2.18%).
  • Green REIT's dividend is below the markets top 25% of dividend payers in Ireland (4.07%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
ISE:GN1 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
Europe REITs Industry Average Dividend Yield Market Cap Weighted Average of 119 Stocks 4.9%
Ireland Market Average Dividend Yield Market Cap Weighted Average of 21 Stocks 2.4%
Ireland Minimum Threshold Dividend Yield 10th Percentile 1.2%
Ireland Bottom 25% Dividend Yield 25th Percentile 2.2%
Ireland Top 25% Dividend Yield 75th Percentile 4.1%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

ISE:GN1 Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2022-06-30 0.07 1.00
2021-06-30 0.07 4.00
2020-06-30 0.07 4.00
2019-06-30 0.07 4.00
ISE:GN1 Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-02-26 0.056 3.549
2018-09-18 0.054 3.744
2018-02-21 0.052 3.408
2017-10-25 0.050 3.252
2017-09-18 0.050 3.277
2016-09-28 0.046 3.338
2015-09-15 0.016 1.097
2015-02-24 0.009 0.592

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Green REIT has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Green REIT only paid a dividend in the past 4 years.
Current Payout to shareholders
What portion of Green REIT's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.1x coverage).
X
Income/ dividend checks
We assess Green REIT's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Green REIT afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Green REIT has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Green REIT's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Pat Gunne
AGE 46
CEO Bio

Mr. Pat Gunne serves as the Chief Executive of Green REIT plc. Mr. Gunne serves as a Managing Director at Green Property REIT Ventures Limited. He joined Green Property REIT Ventures Limited in 2009. Since joining Green Property, Mr. Gunne has focused on developing a real estate workout business on behalf of banks and private equity firms. He served as a Managing Director of Green REIT plc. He served as a Managing Director and European Board Director at CB Richard Ellis Group, Inc. He served as Managing Director of CB Richard Ellis Gunne. Mr. Gunne re-joined CB Richard Ellis, from Jones Lang LaSalle having previously worked for Insignia Richard Ellis, where he was responsible for establishing operations in Belfast. He became a Managing Director of the real estate agency Gunne Commercial in Ireland from 1997 to 2007 and during his tenure it grew operating profits by a factor of 32. He moved to JLL where he was country head for Thailand and prior to his move to CBRE, he was an International Director at JLL. He served as Deputy Chairman at CBRE Group, Inc. since July 2007. Mr. Gunne has been a Director of Green REIT plc since June 3, 2014. He also serves as the Director of Kish Holdings Limited.

CEO Compensation
  • Insufficient data for Pat to compare compensation growth.
  • Insufficient data for Pat to establish whether their remuneration is reasonable compared to companies of similar size in .
Management Team

Pat Gunne

TITLE
CEO & Director
AGE
46

Niall O'Buachalla

TITLE
CFO & Secretary
TENURE
1.1 yrs

Caroline McCarthy

TITLE
Chief Investment Officer of Green Property REIT Ventures DAC
TENURE
5.7 yrs

Jonathan Neilan

TITLE
Managing Director

Paul Culhane

TITLE
Development Director of Green Property REIT Ventures DAC

Ronan Webster

TITLE
Asset Management Director of Green Property REIT Ventures DAC
Board of Directors Tenure

Average tenure and age of the Green REIT board of directors in years:

4.9
Average Tenure
64
Average Age
  • The tenure for the Green REIT board of directors is about average.
Board of Directors

Gary Kennedy

TITLE
Non-Executive Chairman of the Board
COMPENSATION
€100K
AGE
60
TENURE
5.9 yrs

Pat Gunne

TITLE
CEO & Director
AGE
46
TENURE
4.9 yrs

Jerome Kennedy

TITLE
Senior Independent Director
COMPENSATION
€70K
AGE
69

Gary McGann

TITLE
Independent Non-Executive Director
COMPENSATION
€50K
AGE
68
TENURE
4.9 yrs

Stephen John Vernon

TITLE
Non-Executive Director
COMPENSATION
€50K
AGE
68
TENURE
5.9 yrs

Rosheen McGuckian

TITLE
Independent Non-Executive Director
COMPENSATION
€25K
AGE
51
TENURE
1.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
20. May 19 Sell CBRE Clarion Securities Company 17. May 19 17. May 19 -89,282 €1.70 €-152,065
20. May 19 Sell BlackRock, Inc. Company 17. May 19 17. May 19 -6,749 €1.71 €-11,527
17. May 19 Buy BlackRock, Inc. Company 16. May 19 16. May 19 2,578 €1.71 €4,403
17. May 19 Buy RREEF America L.L.C. Company 16. May 19 16. May 19 19,791 €1.71 €33,803
16. May 19 Sell BlackRock, Inc. Company 15. May 19 15. May 19 -15,468 €1.96 €-30,349
16. May 19 Buy CBRE Clarion Securities Company 15. May 19 15. May 19 49,422 €1.71 €84,512
16. May 19 Sell Goldman Sachs Asset Management, L.P. Company 15. May 19 15. May 19 -58,475 €1.71 €-99,875
16. May 19 Sell BMO Global Asset Management Company 15. May 19 15. May 19 -1,105,343 €1.71 €-1,890,137
15. May 19 Sell BlackRock, Inc. Company 14. May 19 14. May 19 -24,795 €1.70 €-42,151
15. May 19 Buy BlackRock, Inc. Company 14. May 19 14. May 19 104,074 €1.71 €177,127
15. May 19 Sell CBRE Clarion Securities Company 14. May 19 14. May 19 -4,292 €1.70 €-7,301
15. May 19 Sell Janus Henderson Group plc Company 14. May 19 14. May 19 -857,143 €1.70 €-1,458,086
15. May 19 Buy RREEF America L.L.C. Company 14. May 19 14. May 19 8,985 €1.70 €15,310
14. May 19 Sell Legal & General Investment Management Limited Company 13. May 19 13. May 19 -51,953 €1.70 €-88,253
14. May 19 Sell RREEF America L.L.C. Company 13. May 19 13. May 19 -680 €1.72 €-1,170
14. May 19 Sell BMO Global Asset Management Company 13. May 19 13. May 19 -657,532 €1.72 €-1,130,955
14. May 19 Sell Janus Henderson Group plc Company 13. May 19 13. May 19 -142,857 €1.71 €-244,285
13. May 19 Sell BlackRock, Inc. Company 10. May 19 10. May 19 -2,578 €1.72 €-4,429
13. May 19 Sell Goldman Sachs Asset Management, L.P. Company 10. May 19 10. May 19 -32,641 €1.71 €-55,725
10. May 19 Buy Goldman Sachs Asset Management, L.P. Company 09. May 19 09. May 19 73 €1.71 €125
10. May 19 Sell Zurich Life Assurance plc, Asset Management Arm Company 10. May 19 10. May 19 -8,843 €1.71 €-15,086
10. May 19 Sell BlackRock, Inc. Company 09. May 19 09. May 19 -20,624 €1.71 €-35,350
10. May 19 Buy BlackRock, Inc. Company 09. May 19 09. May 19 20,879 €1.72 €35,801
10. May 19 Sell Janus Henderson Group plc Company 09. May 19 09. May 19 -669,796 €1.71 €-1,145,351
10. May 19 Sell RREEF America L.L.C. Company 09. May 19 09. May 19 -7,417 €1.71 €-12,685
10. May 19 Sell BMO Global Asset Management Company 09. May 19 09. May 19 -2,073,800 €1.71 €-3,546,198
09. May 19 Buy Goldman Sachs Asset Management, L.P. Company 08. May 19 08. May 19 699 €1.70 €1,191
09. May 19 Sell Janus Henderson Group plc Company 08. May 19 08. May 19 -380,000 €1.71 €-649,728
08. May 19 Sell BlackRock, Inc. Company 07. May 19 07. May 19 -9,440 €1.70 €-16,048
08. May 19 Buy BlackRock, Inc. Company 07. May 19 07. May 19 2,659 €1.72 €4,564
08. May 19 Sell RREEF America L.L.C. Company 07. May 19 07. May 19 -5,935 €1.70 €-10,089
08. May 19 Buy RREEF America L.L.C. Company 07. May 19 07. May 19 5,948 €1.72 €10,213
08. May 19 Sell CBRE Clarion Securities Company 07. May 19 07. May 19 -49,283 €1.71 €-84,471
08. May 19 Sell Janus Henderson Group plc Company 07. May 19 07. May 19 -70,000 €1.70 €-119,098
08. May 19 Buy Goldman Sachs Asset Management, L.P. Company 07. May 19 07. May 19 249 €1.70 €423
07. May 19 Sell RREEF America L.L.C. Company 03. May 19 03. May 19 -599,464 €1.70 €-1,021,367
07. May 19 Sell BlackRock, Inc. Company 03. May 19 03. May 19 -6,749 €1.70 €-11,473
07. May 19 Sell Janus Henderson Group plc Company 03. May 19 03. May 19 -750,000 €1.70 €-1,275,200
03. May 19 Buy BlackRock, Inc. Company 02. May 19 02. May 19 661 €1.71 €1,128
03. May 19 Sell Janus Henderson Group plc Company 02. May 19 02. May 19 -185,164 €1.70 €-314,557
03. May 19 Buy Legal & General Investment Management Limited Company 02. May 19 02. May 19 57,925 €1.70 €98,473
03. May 19 Sell CBRE Clarion Securities Company 02. May 19 02. May 19 -75,094 €1.70 €-127,960
03. May 19 Sell Zurich Life Assurance plc, Asset Management Arm Company 02. May 19 02. May 19 -88,547 €1.97 €-174,861
03. May 19 Sell RREEF America L.L.C. Company 02. May 19 02. May 19 -277,402 €1.70 €-472,443
01. May 19 Buy CBRE Clarion Securities Company 30. Apr 19 30. Apr 19 58,190 €1.70 €98,632
01. May 19 Sell Goldman Sachs Asset Management, L.P. Company 30. Apr 19 30. Apr 19 -7,690 €1.69 €-12,995
30. Apr 19 Sell RREEF America L.L.C. Company 29. Apr 19 29. Apr 19 -1,824 €1.69 €-3,079
29. Apr 19 Sell Goldman Sachs Asset Management, L.P. Company 26. Apr 19 26. Apr 19 -23,444 €1.69 €-39,641
29. Apr 19 Sell BlackRock, Inc. Company 26. Apr 19 26. Apr 19 -2,415 €1.69 €-4,083
26. Apr 19 Sell RREEF America L.L.C. Company 25. Apr 19 25. Apr 19 -219,835 €1.70 €-373,719
26. Apr 19 Buy Janus Henderson Group plc Company 25. Apr 19 25. Apr 19 99,192 €1.70 €168,230
26. Apr 19 Buy Legal & General Investment Management Limited Company 25. Apr 19 25. Apr 19 53,174 €1.69 €90,002
26. Apr 19 Sell CBRE Clarion Securities Company 25. Apr 19 25. Apr 19 -14,929 €1.69 €-25,296
26. Apr 19 Buy Goldman Sachs Asset Management, L.P. Company 25. Apr 19 25. Apr 19 46,624 €1.70 €79,238
25. Apr 19 Sell Zurich Life Assurance plc, Asset Management Arm Company 24. Apr 19 24. Apr 19 -58,962 €1.70 €-100,000
25. Apr 19 Buy BlackRock, Inc. Company 24. Apr 19 24. Apr 19 60,000 €1.71 €102,336
25. Apr 19 Buy Legal & General Investment Management Limited Company 24. Apr 19 24. Apr 19 51,597 €1.71 €88,024
25. Apr 19 Sell RREEF America L.L.C. Company 24. Apr 19 24. Apr 19 -500 €1.70 €-848
24. Apr 19 Sell RREEF America L.L.C. Company 23. Apr 19 23. Apr 19 -16,496 €1.72 €-28,294
23. Apr 19 Buy Hermes Investment Management Limited Company 18. Apr 19 18. Apr 19 27,443 €1.75 €47,915
23. Apr 19 Sell Morgan Stanley Investment Management Inc. Company 18. Apr 19 18. Apr 19 -5,883,417 €1.76 €-10,331,281
23. Apr 19 Sell CBRE Clarion Securities Company 16. Apr 19 16. Apr 19 -78,503 €1.66 €-130,629
23. Apr 19 Buy BlackRock, Inc. Company 18. Apr 19 18. Apr 19 3,237 €1.72 €5,574
23. Apr 19 Sell BMO Global Asset Management Company 18. Apr 19 18. Apr 19 -2,770,421 €1.75 €-4,848,236
23. Apr 19 Sell Zurich Life Assurance plc, Asset Management Arm Company 18. Apr 19 18. Apr 19 -321,623 €1.75 €-560,847
23. Apr 19 Sell Goldman Sachs Asset Management, L.P. Company 18. Apr 19 18. Apr 19 -19,616 €1.73 €-33,951
23. Apr 19 Buy Goldman Sachs Asset Management, L.P. Company 18. Apr 19 18. Apr 19 112,337 €1.75 €196,736
18. Apr 19 Sell BlackRock, Inc. Company 17. Apr 19 17. Apr 19 -24,053 €1.71 €-41,131
18. Apr 19 Buy BlackRock, Inc. Company 17. Apr 19 17. Apr 19 1,368 €1.71 €2,339
18. Apr 19 Sell RREEF America L.L.C. Company 17. Apr 19 17. Apr 19 -18,000 €1.70 €-30,593
17. Apr 19 Sell Legal & General Investment Management Limited Company 16. Apr 19 16. Apr 19 -123,921 €1.70 €-210,381
17. Apr 19 Sell Aviva Investors Global Services Limited Company 16. Apr 19 16. Apr 19 -271,887 €1.67 €-452,692
17. Apr 19 Buy Janus Henderson Group plc Company 15. Apr 19 15. Apr 19 1,543,391 €1.65 €2,539,939
17. Apr 19 Sell RREEF America L.L.C. Company 16. Apr 19 16. Apr 19 -6,153 €1.66 €-10,239
17. Apr 19 Buy RREEF America L.L.C. Company 15. Apr 19 15. Apr 19 3,211 €1.65 €5,307
17. Apr 19 Sell Zurich Life Assurance plc, Asset Management Arm Company 17. Apr 19 17. Apr 19 -169,482 €1.70 €-288,289
17. Apr 19 Buy BlackRock, Inc. Company 16. Apr 19 16. Apr 19 2,577 €1.70 €4,376
17. Apr 19 Sell Morgan Stanley Investment Management Inc. Company 16. Apr 19 16. Apr 19 -52,263 €1.69 €-88,324
22. Nov 18 Buy Pat Gunne Individual 22. Nov 18 22. Nov 18 100,000 €1.55 €154,634
01. Oct 18 Buy Pat Gunne Individual 28. Sep 18 28. Sep 18 76,500 €1.51 €115,515
X
Management checks
We assess Green REIT's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Green REIT has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Is Green REIT plc (ISE:GN1) A High Quality Stock To Own?

The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Green REIT: 11% = €137m ÷ €1.3b (Based on the trailing twelve months to December 2018.) Most know that net profit is the total earnings after all expenses, but the concept of shareholders' equity is a little more complicated. … Does Green REIT Have A Good Return On Equity? … Combining Green REIT's Debt And Its 11% Return On Equity While Green REIT does have some debt, with debt to equity of just 0.20, we wouldn't say debt is excessive.

Simply Wall St -

If You Had Bought Green REIT (ISE:GN1) Shares Five Years Ago You'd Have Made 38%

Better yet, you'd like to see the share price move up more than the market average. … Unfortunately for shareholders, while the Green REIT plc (ISE:GN1) share price is up 38% in the last five years, that's less than the market return. … Over half a decade, Green REIT managed to grow its earnings per share at 9.7% a year.

Simply Wall St -

Why You Shouldn't Look At Green REIT plc's (ISE:GN1) Bottom Line

real estate investment trust (REIT) based in Dublin, Ireland. … A common financial term REIT investors should know is Funds from Operations, or FFO for short, which is a REIT's main source of income from its portfolio of property, such as rent … FFO is a cleaner and more representative figure of how much GN1 actually makes from its day-to-day operations, compared to net income, which can be affected by one-off activities or non-cash items such as depreciation

Simply Wall St -

Does Market Volatility Impact Green REIT plc's (ISE:GN1) Share Price?

If you're interested in Green REIT plc (ISE:GN1), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … Any stock with a beta of greater than one is considered more volatile than the market, while those with a beta below one are either less volatile or poorly correlated with the market.

Simply Wall St -

Green REIT plc (ISE:GN1): The Yield That Matters The Most

I will take you through Green REIT’s cash flow health and the risk-return concept based on the stock’s cash flow yield, using the most recent financial data. … Green REIT’s free cash flow (FCF) is the level of cash flow the business generates from its operational activities, after it reinvests in the company as capital expenditure. … I will be analysing Green REIT’s FCF by looking at its FCF yield and its operating cash flow growth.

Simply Wall St -

Do Institutions Own Shares In Green REIT plc (ISE:GN1)?

A look at the shareholders of Green REIT plc (ISE:GN1) can tell us which group is most powerful. … Institutions will often hold stock in bigger companies, and we expect to see insiders owning a noticeable percentage of the smaller ones. … Green REIT isn't enormous, but it's not particularly small either.

Simply Wall St -

How Much Are Green REIT plc (ISE:GN1) Insiders Spending On Buying Shares?

We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. … So we'll take a look at whether insiders have been buying or selling shares in Green REIT plc (ISE:GN1). … The Last 12 Months Of Insider Transactions At Green REIT.

Simply Wall St -

How To Look At Green REIT plc (ISE:GN1)

real estate investment trust (REIT) based in Dublin, Ireland. … REITs are basically a portfolio of income-producing real estate investments, which are owned and operated by management of that trust company. … They have to meet certain requirements in order to become a REIT, meaning they should be analyzed a different way.

Simply Wall St -

Before Investing In Green REIT plc (ISE:GN1), Consider This

I’ve analysed below, the health and outlook of Green REIT’s cash flow, which will help you understand the stock from a cash standpoint. … Green REIT’s free cash flow (FCF) is the level of cash flow the business generates from its operational activities, after it reinvests in the company as capital expenditure. … There are two methods I will use to evaluate the quality of Green REIT’s FCF: firstly, I will measure its FCF yield relative to the market index yield; secondly, I will examine whether its operating cash flow will continue to grow into the future, which will give us a sense of sustainability

Simply Wall St -

What Kind Of Shareholder Appears On The Green REIT plc's (ISE:GN1) Shareholder Register?

We also tend to see lower insider ownership in companies that were previously publicly owned. … Green REIT has a market capitalization of €1.0b, so we would expect some institutional investors to have noticed the stock. … Taking a look at the our data on the ownership groups (below), it's seems that.

Simply Wall St -

Company Info

Description

Green REIT Plc is an Irish Real Estate Investment Trust ("REIT") and is listed on the Irish and London Stock Exchanges. The Company was the first REIT established in Ireland following the introduction of REIT legislation by the Irish Government. The Company's stated strategy is to create a property portfolio consisting primarily of commercial property in Ireland to deliver income and capital growth through opportunistic investments, active property management and prudent use of debt finance.

Details
Name: Green REIT plc
GN1
Exchange: ISE
Founded:
€1,194,694,141
699,469,638
Website: http://www.greenreitplc.com
Address: Green REIT plc
32 Molesworth Street,
Dublin,
Co. Dublin, D02 Y512,
Ireland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ISE GN1 Ordinary Shares Irish Stock Exchange IE EUR 18. Jul 2013
OTCPK GREE.F Ordinary Shares Pink Sheets LLC US USD 18. Jul 2013
MUN GN1 Ordinary Shares Boerse Muenchen DE EUR 18. Jul 2013
LSE GRN Ordinary Shares London Stock Exchange GB EUR 18. Jul 2013
BATS-CHIXE GN1I Ordinary Shares BATS 'Chi-X Europe' GB EUR 18. Jul 2013
Number of employees
Current staff
Staff numbers
0
Green REIT employees.
Industry
Office REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/23 00:22
End of day share price update: 2019/05/22 00:00
Last estimates confirmation: 2019/04/17
Last earnings filing: 2019/02/26
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/06/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.