Stride Stapled Group is a real estate investment firm specializing in co-investments and investments in commercial, retail, and industrial real estate properties.
Undervalued unattractive dividend payer.
Share Price & News
How has Stride Stapled Group's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: SPG's share price has been volatile over the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: SPG underperformed the NZ REITs industry which returned -7.5% over the past year.
Return vs Market: SPG underperformed the NZ Market which returned -6% over the past year.
Price Volatility Vs. Market
How volatile is Stride Stapled Group's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 weeks ago | Simply Wall StWith A Return On Equity Of 10%, Has Stride Stapled Group's (NZSE:SPG) Management Done Well?
1 month ago | Simply Wall StThe Stride Stapled Group (NZSE:SPG) Share Price Is Up 33% And Shareholders Are Holding On
2 months ago | Simply Wall StWhat Kind Of Shareholder Owns Most Stride Stapled Group (NZSE:SPG) Stock?
Is Stride Stapled Group 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: SPG (NZ$1.34) is trading below our estimate of fair value (NZ$2.27)
Significantly Below Fair Value: SPG is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: SPG is good value based on its PE Ratio (6.7x) compared to the REITs industry average (9.7x).
PE vs Market: SPG is good value based on its PE Ratio (6.7x) compared to the NZ market (15.2x).
Price to Earnings Growth Ratio
PEG Ratio: SPG's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: SPG is good value based on its PB Ratio (0.7x) compared to the NZ REITs industry average (0.9x).
How is Stride Stapled Group forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: SPG's earnings are forecast to decline over the next 3 years (-18.5% per year).
Earnings vs Market: SPG's earnings are forecast to decline over the next 3 years (-18.5% per year).
High Growth Earnings: SPG's earnings are forecast to decline over the next 3 years.
Revenue vs Market: SPG's revenue is expected to decline over the next 3 years (-20.9% per year).
High Growth Revenue: SPG's revenue is forecast to decline over the next 3 years (-20.9% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: SPG's Return on Equity is forecast to be low in 3 years time (4.9%).
How has Stride Stapled Group performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: SPG has a large one-off gain of NZ$36.3M impacting its September 30 2019 financial results.
Growing Profit Margin: SPG's current net profit margins (73.4%) are lower than last year .
Past Earnings Growth Analysis
Earnings Trend: SPG's earnings have grown by 5% per year over the past 5 years.
Accelerating Growth: SPG's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: SPG had negative earnings growth (-28.2%) over the past year, making it difficult to compare to the REITs industry average (-4.9%).
Return on Equity
High ROE: SPG's Return on Equity (10.2%) is considered low.
How is Stride Stapled Group'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: SPG has a high level of physical assets or inventory.
Debt Coverage by Assets: SPG's debt is not covered by short term assets (assets are 0.1x debt).
Financial Institutions Analysis
Asset Level: SPG's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if SPG has a sufficient allowance for bad loans.
Low Risk Liabilities: SPG reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if SPG has an acceptable proportion of non-loan assets held.
Low Risk Deposits: SPG has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if SPG has an appropriate level of bad loans.
What is Stride Stapled Group's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: SPG's dividend (7.4%) is higher than the bottom 25% of dividend payers in the NZ market (3.49%).
High Dividend: SPG's dividend (7.4%) is low compared to the top 25% of dividend payers in the NZ market (7.89%).
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, SPG has been paying a dividend for less than 10 years.
Growing Dividend: SPG has only been paying a dividend for 3 years, and since then payments have fallen.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (127%), SPG's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: SPG's dividends in 3 years are forecast to be covered by earnings (98.9% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average board tenure
Mr. Philip Littlewood has been Chief Executive Officer of Stride Stapled Group since June 27, 2017. Mr. Littlewood serves Chief Executive Officer of Stride Investment Management Limited at Investore Proper ...
CEO Compensation Analysis
Compensation vs Market: Philip's total compensation ($USD592.12K) is about average for companies of similar size in the NZ market ($USD513.13K).
Compensation vs Earnings: Philip's compensation has been consistent with company performance over the past year.
|Independent Director||1.25yrs||no data||no data|
|Independent Director||no data||NZ$90.00k||no data|
|Independent Chairman||11yrs||NZ$155.00k||0.035% NZ$170.9k|
|Independent Director||10.58yrs||NZ$100.00k||0.035% NZ$170.9k|
|Independent Director||5.75yrs||NZ$90.00k||no data|
|Independent Director||1.08yrs||NZ$4.68k||no data|
Experienced Board: SPG's board of directors are considered experienced (5.8 years average tenure).
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.
Stride Stapled Group's company bio, employee growth, exchange listings and data sources
- Name: Stride Stapled Group
- Ticker: SPG
- Exchange: NZSE
- Founded: 2003
- Industry: Diversified REITs
- Sector: Real Estate
- Market Cap: NZ$493.225m
- Shares outstanding: 365.35m
- Website: https://www.strideproperty.co.nz
- Stride Stapled Group
- 34 Shortland Street
- Level 12
- New Zealand
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|SPG||NZSE (New Zealand Stock Exchange)||Yes||Stapled Securities||NZ||NZD||Jul 2016|
Stride Stapled Group is a real estate investment firm specializing in co-investments and investments in commercial, retail, and industrial real estate properties. Investment properties comprise of freehold land, leasehold land, buildings and improvements that are held either to earn rental income or for capital appreciation or both. It seeks to invest in New Zealand. Stride Stapled Group is based in Auckland, New Zealand.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/04/03 11:14|
|End of Day Share Price||2020/04/03 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.