company background image
BALT

Baltic Sea PropertiesOB:BALT Stock Report

Market Cap

kr336.7m

7D

-2.9%

1Y

3.1%

Updated

25 Sep, 2021

Data

Company Financials
BALT fundamental analysis
Snowflake Score
Valuation1/6
Future Growth0/6
Past Performance2/6
Financial Health2/6
Dividends2/6

BALT Overview

Baltic Sea Properties AS, together with its subsidiaries, engages in the commercial real estate business in the Baltics.

Price History & Performance

Summary of all time highs, changes and price drops for Baltic Sea Properties
Historical stock prices
Current Share Pricekr50.50
52 Week Highkr45.00
52 Week Lowkr65.00
Beta0.23
1 Month Change1.41%
3 Month Change0%
1 Year Change3.06%
3 Year Change37.98%
5 Year Changen/a
Change since IPO5.21%

Recent News & Updates

Shareholder Returns

BALTNO Real EstateNO Market
7D-2.9%-1.3%1.2%
1Y3.1%36.1%26.4%

Return vs Industry: BALT underperformed the Norwegian Real Estate industry which returned 36.1% over the past year.

Return vs Market: BALT underperformed the Norwegian Market which returned 26.4% over the past year.

Price Volatility

Is BALT's price volatile compared to industry and market?
BALT volatility
BALT Beta0.23
Industry Beta0.92
Market Beta1

Stable Share Price: Insufficient data to determine BALT's volatility over the past 3 months.

Volatility Over Time: Insufficient data to determine BALT's volatility change over the past year.

About the Company

FoundedEmployeesCEOWebsite
n/a8Lars Bergerhttps://www.balticsea.no

Baltic Sea Properties AS, together with its subsidiaries, engages in the commercial real estate business in the Baltics. It develops, rents out, and manages primarily logistics, industrial, and retail properties. The company is based in Oslo, Norway.

Baltic Sea Properties Fundamentals Summary

How do Baltic Sea Properties's earnings and revenue compare to its market cap?
BALT fundamental statistics
Market Capkr336.72m
Earnings (TTM)kr32.48m
Revenue (TTM)kr63.65m

10.4x

P/E Ratio

5.3x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
BALT income statement (TTM)
Revenuekr63.65m
Cost of Revenuekr0
Gross Profitkr63.65m
Expenseskr31.17m
Earningskr32.48m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

Nov 18, 2021

Earnings per share (EPS)4.87
Gross Margin100.00%
Net Profit Margin51.03%
Debt/Equity Ratio209.1%

How did BALT perform over the long term?

See historical performance and comparison

Dividends

3.0%

Current Dividend Yield

31%

Payout Ratio

Valuation

Is Baltic Sea Properties undervalued compared to its fair value and its price relative to the market?

10.37x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: BALT (NOK50.5) is trading above our estimate of fair value (NOK21.26)

Significantly Below Fair Value: BALT is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: BALT is poor value based on its PE Ratio (10.4x) compared to the Norwegian Real Estate industry average (8.4x).

PE vs Market: BALT is good value based on its PE Ratio (10.4x) compared to the Norwegian market (13.4x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: BALT is overvalued based on its PB Ratio (1.6x) compared to the NO Real Estate industry average (1.2x).


Future Growth

How is Baltic Sea Properties forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

-35.7%

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 Baltic Sea Properties 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.


Past Performance

How has Baltic Sea Properties performed over the past 5 years?

1.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BALT has a large one-off gain of NOK27.2M impacting its June 30 2021 financial results.

Growing Profit Margin: BALT became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: BALT has become profitable over the past 5 years, growing earnings by 1.3% per year.

Accelerating Growth: BALT has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: BALT has become profitable in the last year, making it difficult to compare its past year earnings growth to the Real Estate industry (95.7%).


Return on Equity

High ROE: BALT's Return on Equity (15.5%) is considered low.


Financial Health

How is Baltic Sea Properties's financial position?


Financial Position Analysis

Short Term Liabilities: BALT's short term assets (NOK95.2M) exceed its short term liabilities (NOK76.0M).

Long Term Liabilities: BALT's short term assets (NOK95.2M) do not cover its long term liabilities (NOK412.5M).


Debt to Equity History and Analysis

Debt Level: BALT's debt to equity ratio (209.1%) is considered high.

Reducing Debt: BALT's debt to equity ratio has reduced from 248.6% to 209.1% over the past 5 years.

Debt Coverage: BALT's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: BALT's interest payments on its debt are not well covered by EBIT (1.3x coverage).


Balance Sheet


Dividend

What is Baltic Sea Properties's current dividend yield, its reliability and sustainability?

2.97%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: BALT's dividend (2.97%) is higher than the bottom 25% of dividend payers in the Norwegian market (1.84%).

High Dividend: BALT's dividend (2.97%) is low compared to the top 25% of dividend payers in the Norwegian market (5.16%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, BALT has been paying a dividend for less than 10 years.

Growing Dividend: BALT's dividend payments have increased, but the company has only paid a dividend for 3 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (30.8%), BALT's dividend payments are 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?

3.6yrs

Average board tenure


CEO

Lars Berger

3.83yrs

Tenure

Mr. Lars Christian Berger serves as Chief Executive Officer of Baltic Sea Properties AS since November 2017. He is experienced from finance and real estate management. He has worked as asset manager for se...


Board Members

Experienced Board: BALT's board of directors are considered experienced (3.6 years average tenure).


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.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Baltic Sea Properties AS's employee growth, exchange listings and data sources


Key Information

  • Name: Baltic Sea Properties AS
  • Ticker: BALT
  • Exchange: OB
  • Founded: NaN
  • Industry: Real Estate Operating Companies
  • Sector: Real Estate
  • Market Cap: kr336.725m
  • Shares outstanding: 6.67m
  • Website: https://www.balticsea.no

Number of Employees


Location

  • Baltic Sea Properties AS
  • Tjuvholmen allE 3
  • 6th floor
  • Oslo
  • Oslo
  • 252
  • Norway

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/09/25 16:20
End of Day Share Price2021/09/20 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


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.