NZSE:VHP

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Vital Healthcare Property Trust

Executive Summary

Vital Healthcare Property Trust is a real estate investment trust externally managed by Vital Healthcare Management Limited.


Snowflake Analysis

Established dividend payer with acceptable track record.

Share Price & News

How has Vital Healthcare Property Trust's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: VHP has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

0.4%

VHP

1.0%

NZ REITs

0.7%

NZ Market


1 Year Return

0.8%

VHP

-8.9%

NZ REITs

0.6%

NZ Market

Return vs Industry: VHP exceeded the NZ REITs industry which returned -8.9% over the past year.

Return vs Market: VHP matched the NZ Market which returned 0.6% over the past year.


Shareholder returns

VHPIndustryMarket
7 Day0.4%1.0%0.7%
30 Day2.9%4.4%0.05%
90 Day13.1%11.6%8.9%
1 Year4.4%0.8%-5.3%-8.9%5.3%0.6%
3 Year29.0%14.6%44.7%25.8%42.1%21.3%
5 Year95.4%58.4%69.8%32.8%98.7%47.2%

Price Volatility Vs. Market

How volatile is Vital Healthcare Property Trust's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Vital Healthcare Property Trust undervalued compared to its fair value and its price relative to the market?

11.28x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: VHP (NZ$2.63) is trading above our estimate of fair value (NZ$1.89)

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


Price To Earnings Ratio

PE vs Industry: VHP's PE Ratio (11.3x) is in line with the NZ REITs industry average.

PE vs Market: VHP is good value based on its PE Ratio (11.3x) compared to the NZ market (19x).


Price to Earnings Growth Ratio

PEG Ratio: VHP's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: VHP's PB Ratio (1.1x) is in line with the NZ REITs industry average.


Next Steps

Future Growth

How is Vital Healthcare Property Trust forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

-10.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: VHP's earnings are forecast to decline over the next 3 years (-10.3% per year).

Earnings vs Market: VHP's earnings are forecast to decline over the next 3 years (-10.3% per year).

High Growth Earnings: VHP's earnings are forecast to decline over the next 3 years.

Revenue vs Market: VHP's revenue (3.1% per year) is forecast to grow slower than the NZ market (5.6% per year).

High Growth Revenue: VHP's revenue (3.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: VHP's Return on Equity is forecast to be low in 3 years time (4.8%).


Next Steps

Past Performance

How has Vital Healthcare Property Trust performed over the past 5 years?

-0.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: VHP has a large one-off gain of NZ$111.1M impacting its March 31 2020 financial results.

Growing Profit Margin: VHP's current net profit margins (93.2%) are higher than last year (65.6%).


Past Earnings Growth Analysis

Earnings Trend: VHP's earnings have declined by 0.8% per year over the past 5 years.

Accelerating Growth: VHP's earnings growth over the past year (45.6%) exceeds its 5-year average (-0.8% per year).

Earnings vs Industry: VHP earnings growth over the past year (45.6%) exceeded the REITs industry -16.1%.


Return on Equity

High ROE: VHP's Return on Equity (9.9%) is considered low.


Next Steps

Financial Health

How is Vital Healthcare Property Trust's financial position?


Financial Position Analysis

Short Term Liabilities: VHP's short term assets (NZ$11.4M) do not cover its short term liabilities (NZ$257.0M).

Long Term Liabilities: VHP's short term assets (NZ$11.4M) do not cover its long term liabilities (NZ$611.8M).


Debt to Equity History and Analysis

Debt Level: VHP's debt to equity ratio (68.1%) is considered high.

Reducing Debt: VHP's debt to equity ratio has increased from 67.7% to 68.1% over the past 5 years.

Debt Coverage: VHP's debt is not well covered by operating cash flow (5.4%).

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


Balance Sheet


Next Steps

Dividend

What is Vital Healthcare Property Trust current dividend yield, its reliability and sustainability?

3.33%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: VHP's dividend (3.33%) is higher than the bottom 25% of dividend payers in the NZ market (2.89%).

High Dividend: VHP's dividend (3.33%) is low compared to the top 25% of dividend payers in the NZ market (5.33%).


Stability and Growth of Payments

Stable Dividend: VHP's dividends per share have been stable in the past 10 years.

Growing Dividend: VHP's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (83.6%), VHP's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: VHP's dividends in 3 years are forecast to be covered by earnings (79.4% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.6yrs

Average management tenure


CEO

Vital Healthcare Property Trust has no CEO, or we have no data on them.


Leadership Team

NamePositionTenureCompensationOwnership
Michael Groth
Chief Financial Officer of Vital Healthcare Management Limited0.50yrno datano data
Stephen Freundlich
Fund Analyst & Investor Relations Manager of Vital Healthcare Management Limitedno datano datano data
Richard Roos
Managing Director of Australiano datano datano data
Drugh Woods
New Zealand Asset Manager of Vital Healthcare Management Limitedno datano datano data
Mark Norman
National Development Manager of Vital Healthcare Management Limitedno datano datano data
Cameron Ramsay
National Acquisitions Manager of Vital Healthcare Management Limited4.33yrsno datano data
Sophie Benfell-Brinsden
Property Manager of Vital Healthcare Management Ltd.2.58yrsno datano data
Chris Adams
Executive Director of NorthWestno datano datano data

2.6yrs

Average Tenure

Experienced Management: VHP's management team is considered experienced (2.6 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Bernard Crotty
Chairman of Vital Healthcare Management Limitedno dataNZ$5.00kno data
Andrew Evans
Independent Director of Vital Healthcare Management Limited13yrsno data0.12%
NZ$ 1.4m
Michael Stanford
Independent Director of NorthWest Healthcare Properties Management Limited0.75yrno datano data
Graham Stuart
Independent Director of NorthWest Healthcare Properties Management Limited1.75yrsno datano data
Paul Dalla Lana
Director of Vital Healthcare Management Limited8.58yrsno data1.35%
NZ$ 16.1m

5.2yrs

Average Tenure

Experienced Board: VHP's board of directors are considered experienced (5.2 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

Vital Healthcare Property Trust's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Vital Healthcare Property Trust
  • Ticker: VHP
  • Exchange: NZSE
  • Founded: 1994
  • Industry: Health Care REITs
  • Sector: Real Estate
  • Market Cap: NZ$1.191b
  • Shares outstanding: 453.78m
  • Website: https://www.vitalhealthcareproperty.co.nz

Location

  • Vital Healthcare Property Trust
  • AIG Building
  • Level 16
  • Auckland
  • 1010
  • New Zealand

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
VHPNZSE (New Zealand Stock Exchange)YesUnitsNZNZDSep 1999

Biography

Vital Healthcare Property Trust is a real estate investment trust externally managed by Vital Healthcare Management Limited. The firm investments in health and medical related properties in New Zealand and ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/08/07 10:37
End of Day Share Price2020/08/07 00:00
Earnings2020/03/31
Annual Earnings2019/06/30


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.