Investore Property
Market Cap
NZ$773.1m
Last Updated
2021/03/05 06:02 UTC
Data Sources
Company Financials +
Executive Summary
Investore Property Limited (Investore) is a commercial property ownership business that has been established to invest in quality Large Format Retail property assets. More Details
Rewards
Risk Analysis
Earnings are forecast to decline by an average of 40.6% per year for the next 3 years
Snowflake Analysis
Proven track record with mediocre balance sheet.
Share Price & News
How has Investore Property's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: IPL is less volatile than 75% of NZ stocks over the past 3 months, typically moving +/- 2% a week.
Volatility Over Time: IPL's weekly volatility (2%) has been stable over the past year.
Market Performance
7 Day Return
-4.1%
IPL
-0.8%
NZ REITs
0.5%
NZ Market
1 Year Return
16.9%
IPL
-7.1%
NZ REITs
5.6%
NZ Market
Return vs Industry: IPL exceeded the NZ REITs industry which returned -7.1% over the past year.
Return vs Market: IPL exceeded the NZ Market which returned 5.6% over the past year.
Shareholder returns
| IPL | Industry | Market | |
|---|---|---|---|
| 7 Day | -4.1% | -0.8% | 0.5% |
| 30 Day | -8.4% | -5.6% | -6.1% |
| 90 Day | -5.9% | -4.6% | -2.1% |
| 1 Year | 21.5%16.9% | -3.9%-7.1% | 9.3%5.6% |
| 3 Year | 74.8%49.6% | 50.3%31.8% | 45.6%27.5% |
| 5 Year | n/a | 64.7%30.8% | 87.2%43.1% |
Long-Term Price Volatility Vs. Market
How volatile is Investore Property's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 weeks ago | Simply Wall St
Here's What Investore Property Limited's (NZSE:IPL) Shareholder Ownership Structure Looks Like4 months ago | Simply Wall St
Investore Property Limited's (NZSE:IPL) Stock Is Going Strong: Have Financials A Role To Play?5 months ago | Simply Wall St
Is Investore Property Limited (NZSE:IPL) Popular Amongst Institutions?Valuation
Is Investore Property undervalued compared to its fair value and its price relative to the market?
6.17x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: IPL (NZ$2.08) is trading above our estimate of fair value (NZ$1.08)
Significantly Below Fair Value: IPL is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: IPL is good value based on its PE Ratio (6.2x) compared to the NZ REITs industry average (14.1x).
PE vs Market: IPL is good value based on its PE Ratio (6.2x) compared to the NZ market (23.7x).
Price to Earnings Growth Ratio
PEG Ratio: IPL's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: IPL's PB Ratio (1.1x) is in line with the NZ REITs industry average.
Next Steps
Future Growth
How is Investore Property forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
-40.6%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: IPL's earnings are forecast to decline over the next 3 years (-40.6% per year).
Earnings vs Market: IPL's earnings are forecast to decline over the next 3 years (-40.6% per year).
High Growth Earnings: IPL's earnings are forecast to decline over the next 3 years.
Revenue vs Market: IPL's revenue (2.8% per year) is forecast to grow slower than the NZ market (6.8% per year).
High Growth Revenue: IPL's revenue (2.8% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: IPL's Return on Equity is forecast to be low in 3 years time (4.2%).
Next Steps
Past Performance
How has Investore Property performed over the past 5 years?
25.3%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: IPL has a large one-off gain of NZ$90.6M impacting its September 30 2020 financial results.
Growing Profit Margin: IPL's current net profit margins are higher than last year (72.4%).
Past Earnings Growth Analysis
Earnings Trend: IPL's earnings have grown significantly by 25.3% per year over the past 5 years.
Accelerating Growth: IPL's earnings growth over the past year (175.1%) exceeds its 5-year average (25.3% per year).
Earnings vs Industry: IPL earnings growth over the past year (175.1%) exceeded the REITs industry -20.4%.
Return on Equity
High ROE: IPL's Return on Equity (15.3%) is considered low.
Next Steps
Financial Health
How is Investore Property's financial position?
Financial Position Analysis
Short Term Liabilities: IPL's short term assets (NZ$7.0M) exceed its short term liabilities (NZ$5.4M).
Long Term Liabilities: IPL's short term assets (NZ$7.0M) do not cover its long term liabilities (NZ$298.0M).
Debt to Equity History and Analysis
Debt Level: IPL's debt to equity ratio (39.4%) is considered satisfactory.
Reducing Debt: Insufficient data to determine if IPL's debt to equity ratio has reduced over the past 5 years.
Debt Coverage: IPL's debt is not well covered by operating cash flow (6.6%).
Interest Coverage: IPL's interest payments on its debt are well covered by EBIT (3.3x coverage).
Balance Sheet
Next Steps
Dividend
What is Investore Property current dividend yield, its reliability and sustainability?
3.65%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: IPL's dividend (3.65%) is higher than the bottom 25% of dividend payers in the NZ market (2.56%).
High Dividend: IPL's dividend (3.65%) is low compared to the top 25% of dividend payers in the NZ market (4.39%).
Stability and Growth of Payments
Stable Dividend: IPL has been paying a dividend for less than 10 years and during this time payments have been volatile.
Growing Dividend: IPL's dividend payments have increased, but the company has only paid a dividend for 4 years.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (134.7%), IPL's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: IPL's dividends in 3 years are forecast to be covered by earnings (92.4% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
4.8yrs
Average board tenure
CEO
Philip Littlewood
no data
Tenure
Mr. Philip Littlewood, BProp, BCom, MBA, has been Chief Executive Officer of Stride Stapled Group since June 27, 2017. Mr. Littlewood serves Chief Executive Officer of Stride Investment Management Limited ...
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Independent Director | 0.83yr | no data | no data | |
| Independent Non-Executive Director | 2.92yrs | NZ$49.16k | 0.0089% NZ$ 68.4k | |
| Non-Executive Director | 5.42yrs | NZ$43.75k | 0.014% NZ$ 104.5k | |
| Independent Chairman of the Board | 4.75yrs | NZ$81.25k | 0.015% NZ$ 118.8k | |
| Non-Executive Director | 5.42yrs | NZ$43.75k | 0.014% NZ$ 104.5k |
4.8yrs
Average Tenure
Experienced Board: IPL's board of directors are considered experienced (4.8 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 been diluted in the past year, with total shares outstanding growing by 20.9%.
Top Shareholders
Company Information
Investore Property Limited's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Investore Property Limited
- Ticker: IPL
- Exchange: NZSE
- Founded: 2015
- Industry: Retail REITs
- Sector: Real Estate
- Market Cap: NZ$773.084m
- Shares outstanding: 368.14m
- Website: https://www.investoreproperty.co.nz
Location
- Investore Property Limited
- 34 Shortland Street
- Level 12
- Auckland
- 1010
- New Zealand
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| IPL | NZSE (New Zealand Stock Exchange) | Yes | Ordinary Shares | NZ | NZD | Jul 2016 |
Biography
Investore Property Limited (Investore) is a commercial property ownership business that has been established to invest in quality Large Format Retail property assets. Investore was established in October 2...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/03/05 06:02 |
| End of Day Share Price | 2021/03/05 00:00 |
| Earnings | 2020/09/30 |
| Annual Earnings | 2020/03/31 |
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.