NPT Limited operates as a property company.
Fair value with moderate growth potential.
Share Price & News
How has Asset Plus's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: APL's share price has been volatile over the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: APL underperformed the NZ REITs industry which returned -6.1% over the past year.
Return vs Market: APL underperformed the NZ Market which returned -8.1% over the past year.
Price Volatility Vs. Market
How volatile is Asset Plus's share price compared to the market and industry in the last 5 years?
Simply Wall St News
3 months ago | Simply Wall StIf You Had Bought Asset Plus (NZSE:APL) Shares A Year Ago You'd Have Made 11%
4 months ago | Simply Wall StIs Asset Plus Limited (NZSE:APL) A Good Dividend Stock?
5 months ago | Simply Wall StCan We See Significant Institutional Ownership On The Asset Plus Limited (NZSE:APL) Share Register?
Is Asset Plus undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: APL (NZ$0.42) is trading below our estimate of fair value (NZ$0.64)
Significantly Below Fair Value: APL is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: APL is poor value based on its PE Ratio (26.1x) compared to the REITs industry average (10.1x).
PE vs Market: APL is poor value based on its PE Ratio (26.1x) compared to the NZ market (14.8x).
Price to Earnings Growth Ratio
PEG Ratio: APL is poor value based on its PEG Ratio (1.2x)
Price to Book Ratio
PB vs Industry: APL is good value based on its PB Ratio (0.6x) compared to the NZ REITs industry average (1x).
How is Asset Plus forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: APL's forecast earnings growth (21.3% per year) is above the savings rate (1.3%).
Earnings vs Market: APL's earnings (21.3% per year) are forecast to grow faster than the NZ market (10.1% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: APL's revenue is expected to decline over the next 3 years (-7.8% per year).
High Growth Revenue: APL's revenue is forecast to decline over the next 3 years (-7.8% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: APL's Return on Equity is forecast to be low in 3 years time (5%).
How has Asset Plus performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: APL has a large one-off loss of NZ$3.1M impacting its September 30 2019 financial results.
Growing Profit Margin: APL's current net profit margins (20.1%) are lower than last year (25.5%).
Past Earnings Growth Analysis
Earnings Trend: APL's earnings have declined by -20.8% per year over the past 5 years.
Accelerating Growth: APL's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: APL had negative earnings growth (-32.9%) over the past year, making it difficult to compare to the REITs industry average (-4.9%).
Return on Equity
High ROE: APL's Return on Equity (2.3%) is considered low.
How is Asset Plus's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Inventory Level: APL has a high level of physical assets or inventory.
Debt Coverage by Assets: APL's debt is not covered by short term assets (assets are 0.5x debt).
Financial Institutions Analysis
Asset Level: APL's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if APL has a sufficient allowance for bad loans.
Low Risk Liabilities: APL reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if APL has an acceptable proportion of non-loan assets held.
Low Risk Deposits: APL has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if APL has an appropriate level of bad loans.
What is Asset Plus's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: APL's dividend (8.57%) is higher than the bottom 25% of dividend payers in the NZ market (3.6%).
High Dividend: APL's dividend (8.57%) is in the top 25% of dividend payers in the NZ market (7.93%)
Stability and Growth of Payments
Stable Dividend: APL's dividend payments have been volatile in the past 10 years.
Growing Dividend: APL's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (128.9%), APL's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: APL's dividends in 3 years are not forecast to be well covered by earnings (101.6% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Asset Plus has no CEO, or we have no data on them.
|Chief Financial Officer||1.75yrs||no data||no data|
|General Counsel & Company Secretary||1.75yrs||no data||no data|
|Development Manager||no data||no data||no data|
|General Manager of Property||no data||no data||no data|
|Managing Director of Augusta Capital||1.92yrs||no data||no data|
|Asset Manager||1.75yrs||no data||no data|
|Property Development Manager||1.75yrs||no data||no data|
|Chief Operations Officer of Augusta Capital||1.58yrs||no data||no data|
|Consultant||8.92yrs||no data||no data|
|Retril Leasing & Marketing Manager||no data||no data||no data|
Experienced Management: APL's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.
|Non-Executive Director||2.92yrs||no data||no data|
|Non-Executive Independent Director||4.83yrs||no data||0.031% NZ$21.0k|
|Non-Executive Independent Director||2.92yrs||no data||no data|
|Independent Non-Executive Chairman||2.92yrs||no data||no data|
Experienced Board: APL's board of directors are not considered experienced ( 2.9 years average tenure), which suggests a new board.
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
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Asset Plus Limited's company bio, employee growth, exchange listings and data sources
- Name: Asset Plus Limited
- Ticker: APL
- Exchange: NZSE
- Founded: 1994
- Industry: Diversified REITs
- Sector: Real Estate
- Market Cap: NZ$68.007m
- Shares outstanding: 161.92m
- Website: https://www.assetplusnz.co.nz
- Asset Plus Limited
- Bayleys House
- Level 2
- New Zealand
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|APL||NZSE (New Zealand Stock Exchange)||Yes||Common Shares||NZ||NZD||Jan 1997|
NPT Limited operates as a property company. It invests in retail, commercial, and industrial properties located in Auckland, Wellington, Napier, and Christchurch. The company was formerly known as The National Property Trust and changed its name to NPT Limited on April 1, 2011. NPT Limited was founded in 1994 and is based in Wellington, New Zealand.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/03/28 10:32|
|End of Day Share Price||2020/03/27 00:00|
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.