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VHP

Vital Healthcare Property TrustNZSE:VHP Stock Report

Market Cap

NZ$1.7b

7D

-0.3%

1Y

-0.8%

Updated

22 Oct, 2021

Data

Company Financials +
VHP fundamental analysis
Snowflake Score
Valuation2/6
Future Growth1/6
Past Performance3/6
Financial Health2/6
Dividends5/6

VHP Overview

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

Price History & Performance

Summary of all time highs, changes and price drops for Vital Healthcare Property Trust
Historical stock prices
Current Share PriceNZ$2.93
52 Week HighNZ$2.85
52 Week LowNZ$3.38
Beta0.44
1 Month Change-5.48%
3 Month Change-7.57%
1 Year Change-0.85%
3 Year Change40.87%
5 Year Change44.34%
Change since IPO163.96%

Recent News & Updates

Shareholder Returns

VHPNZ REITsNZ Market
7D-0.3%-0.3%0.7%
1Y-0.8%-2.7%2.4%

Return vs Industry: VHP exceeded the NZ REITs industry which returned -2.7% over the past year.

Return vs Market: VHP underperformed the NZ Market which returned 2.4% over the past year.

Price Volatility

Is VHP's price volatile compared to industry and market?
VHP volatility
VHP Beta0.44
Industry Beta0.55
Market Beta1

Stable Share Price: VHP is less volatile than 75% of NZ stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: VHP's weekly volatility (2%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1994n/an/ahttps://www.vitalhealthcareproperty.co.nz

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 Australia. It undertakes acquisition or development of medical or healthcare-related properties such as surgical and medical facilities, geriatric and continuing care facilities primary healthcare facilities, and health support facilities.

Vital Healthcare Property Trust Fundamentals Summary

How do Vital Healthcare Property Trust's earnings and revenue compare to its market cap?
VHP fundamental statistics
Market CapNZ$1.66b
Earnings (TTM)NZ$278.39m
Revenue (TTM)NZ$126.14m

5.9x

P/E Ratio

13.1x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
VHP income statement (TTM)
RevenueNZ$126.14m
Cost of RevenueNZ$16.48m
Gross ProfitNZ$109.66m
Expenses-NZ$168.73m
EarningsNZ$278.39m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.49
Gross Margin86.93%
Net Profit Margin220.69%
Debt/Equity Ratio64.5%

How did VHP perform over the long term?

See historical performance and comparison

Dividends

3.1%

Current Dividend Yield

43%

Payout Ratio

Valuation

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

12.1%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: VHP (NZ$2.93) is trading below our estimate of fair value (NZ$3.33)

Significantly Below Fair Value: VHP is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: VHP's PE Ratio (5.9x) is in line with the NZ REITs industry average.

PE vs Market: VHP is good value based on its PE Ratio (5.9x) compared to the NZ market (22.2x).


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.


Future Growth

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

-31.2%

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 (-31.2% per year).

Earnings vs Market: VHP's earnings are forecast to decline over the next 3 years (-31.2% per year).

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

Revenue vs Market: VHP's revenue (5.5% per year) is forecast to grow faster than the NZ market (5.2% per year).

High Growth Revenue: VHP's revenue (5.5% 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 (3.6%).


Past Performance

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

-4.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: VHP has a large one-off gain of NZ$246.7M impacting its June 30 2021 financial results.

Growing Profit Margin: VHP's current net profit margins are higher than last year (50.8%).


Past Earnings Growth Analysis

Earnings Trend: VHP's earnings have declined by 4% per year over the past 5 years.

Accelerating Growth: VHP's earnings growth over the past year (378.9%) exceeds its 5-year average (-4% per year).

Earnings vs Industry: VHP earnings growth over the past year (378.9%) exceeded the REITs industry 267.1%.


Return on Equity

High ROE: VHP's Return on Equity (18.5%) is considered low.


Financial Health

How is Vital Healthcare Property Trust's financial position?


Financial Position Analysis

Short Term Liabilities: VHP's short term assets (NZ$21.5M) do not cover its short term liabilities (NZ$170.4M).

Long Term Liabilities: VHP's short term assets (NZ$21.5M) do not cover its long term liabilities (NZ$988.7M).


Debt to Equity History and Analysis

Debt Level: VHP's debt to equity ratio (64.5%) is considered high.

Reducing Debt: VHP's debt to equity ratio has reduced from 69% to 64.5% over the past 5 years.

Debt Coverage: VHP's debt is not well covered by operating cash flow (5.8%).

Interest Coverage: VHP's interest payments on its debt are well covered by EBIT (14.8x coverage).


Balance Sheet


Dividend

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

3.07%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: VHP's dividend (3.07%) is higher than the bottom 25% of dividend payers in the NZ market (2.41%).

High Dividend: VHP's dividend (3.07%) is low compared to the top 25% of dividend payers in the NZ market (4.86%).


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: With its reasonably low payout ratio (43.2%), VHP's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: VHP's dividends in 3 years are forecast to be covered by earnings (80.5% payout ratio).


Next Steps

Management

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

1.9yrs

Average board tenure


CEO

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


Board Members

Experienced Board: VHP's board of directors are not considered experienced ( 1.9 years average tenure), which suggests a new board.


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 12.5%.


Top Shareholders

Company Information

Vital Healthcare Property Trust's 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$1.656b
  • Shares outstanding: 565.32m
  • Website: https://www.vitalhealthcareproperty.co.nz

Location

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

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/22 15:34
End of Day Share Price2021/10/22 00:00
Earnings2021/06/30
Annual Earnings2021/06/30


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.