Property For Industry Limited engages in the property investment and management business in New Zealand.
Proven track record average dividend payer.
Share Price & News
How has Property For Industry's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: PFI's share price has been volatile over the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: PFI exceeded the NZ REITs industry which returned -7.2% over the past year.
Return vs Market: PFI exceeded the NZ Market which returned -1.2% over the past year.
Price Volatility Vs. Market
How volatile is Property For Industry's share price compared to the market and industry in the last 5 years?
Simply Wall St News
6 months ago | Simply Wall StWhat Kind Of Investor Owns Most Of Property For Industry Limited (NZSE:PFI)?
10 months ago | Simply Wall StProperty For Industry Limited (NZSE:PFI): The Best Of Both Worlds
11 months ago | Simply Wall StIs Property For Industry (NZSE:PFI) A Risky Investment?
Is Property For Industry undervalued compared to its fair value and its price relative to the market?
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: PFI (NZ$2.43) is trading above our estimate of fair value (NZ$1.91)
Significantly Below Fair Value: PFI is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: PFI is good value based on its PE Ratio (6.9x) compared to the REITs industry average (9.9x).
PE vs Market: PFI is good value based on its PE Ratio (6.9x) compared to the NZ market (18.6x).
Price to Earnings Growth Ratio
PEG Ratio: PFI's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: PFI is overvalued based on its PB Ratio (1.1x) compared to the NZ REITs industry average (0.9x).
How is Property For Industry forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: PFI's earnings are forecast to decline over the next 3 years (-60.3% per year).
Earnings vs Market: PFI's earnings are forecast to decline over the next 3 years (-60.3% per year).
High Growth Earnings: PFI's earnings are forecast to decline over the next 3 years.
Revenue vs Market: PFI's revenue is expected to decline over the next 3 years (-2.8% per year).
High Growth Revenue: PFI's revenue is forecast to decline over the next 3 years (-2.8% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: PFI's Return on Equity is forecast to be low in 3 years time (4.5%).
How has Property For Industry performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: PFI has a large one-off gain of NZ$130.6M impacting its December 31 2019 financial results.
Growing Profit Margin: PFI's current net profit margins are higher than last year .
Past Earnings Growth Analysis
Earnings Trend: PFI's earnings have grown by 15.5% per year over the past 5 years.
Accelerating Growth: PFI's earnings growth over the past year (60.1%) exceeds its 5-year average (15.5% per year).
Earnings vs Industry: PFI earnings growth over the past year (60.1%) exceeded the REITs industry -11%.
Return on Equity
High ROE: PFI's Return on Equity (16.7%) is considered low.
How is Property For Industry's financial position?
Financial Position Analysis
Short Term Liabilities: PFI's short term assets (NZ$10.5M) do not cover its short term liabilities (NZ$23.3M).
Long Term Liabilities: PFI's short term assets (NZ$10.5M) do not cover its long term liabilities (NZ$445.4M).
Debt to Equity History and Analysis
Debt Level: PFI's debt to equity ratio (41.1%) is considered high.
Reducing Debt: PFI's debt to equity ratio has reduced from 56.6% to 41.1% over the past 5 years.
Debt Coverage: PFI's debt is not well covered by operating cash flow (11.2%).
Interest Coverage: PFI's interest payments on its debt are well covered by EBIT (4x coverage).
What is Property For Industry's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: PFI's dividend (3.13%) isn’t notable compared to the bottom 25% of dividend payers in the NZ market (3.25%).
High Dividend: PFI's dividend (3.13%) is low compared to the top 25% of dividend payers in the NZ market (6.43%).
Stability and Growth of Payments
Stable Dividend: PFI's dividends per share have been stable in the past 10 years.
Growing Dividend: PFI's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: At its current payout ratio (83.3%), PFI's payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: PFI's dividends in 3 years are forecast to be covered by earnings (80.4% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Mr. Simon Woodhams has been Chief Executive Officer of Property for Industry Ltd. since January 2019. Mr. Woodhams was General Manager of Property for Industry Ltd. since July 2015 until January 2019. Mr. ...
CEO Compensation Analysis
Compensation vs Market: Simon's total compensation ($USD329.28K) is below average for companies of similar size in the NZ market ($USD649.06K).
Compensation vs Earnings: Simon's compensation has increased by more than 20% in the past year.
|Non-Executive Director||8.33yrs||NZ$254.00k||no data|
|Chief Executive Officer||1.33yrs||NZ$541.00k||0.014% NZ$164.6k|
|Chief Finance & Operating Officer||1.33yrs||NZ$541.00k||no data|
|Financial Controller||2.33yrs||no data||no data|
Experienced Management: PFI's management team is not considered experienced ( 1.3 years average tenure), which suggests a new team.
|Non-Executive Director||8.33yrs||NZ$254.00k||no data|
|Independent Director||no data||NZ$7.00k||0.0040% NZ$48.5k|
|Board Chairman||no data||NZ$146.00k||no data|
|Independent Director||25.83yrs||NZ$78.00k||0.026% NZ$312.1k|
|Independent Director||4yrs||NZ$91.00k||0.0036% NZ$43.2k|
|Independent Director||2.25yrs||NZ$78.00k||no data|
Experienced Board: PFI's board of directors are considered experienced (6.2 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: PFI 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.
Property For Industry Limited's company bio, employee growth, exchange listings and data sources
- Name: Property For Industry Limited
- Ticker: PFI
- Exchange: NZSE
- Founded: 1994
- Industry: Industrial REITs
- Sector: Real Estate
- Market Cap: NZ$1.210b
- Shares outstanding: 498.77m
- Website: https://www.propertyforindustry.co.nz
- Property For Industry Limited
- Shed 24
- Prince's Wharf
- New Zealand
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|PFI||NZSE (New Zealand Stock Exchange)||Yes||Ordinary Shares||NZ||NZD||Jan 1995|
Property For Industry Limited engages in the property investment and management business in New Zealand. The company invests in industrial properties located in North Harbour, Avondale, Penrose, Mount Wellington, Manukau, Mangere, East Tamaki, Wellington, and Christchurch. As of December 31, 2008, it operated 56 properties. Property For Industry Limited was founded in 1994 and is based in Auckland, New Zealand.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/05/26 10:35|
|End of Day Share Price||2020/05/26 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.