WSE:HRL

Stock Analysis Report

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Executive Summary

Hornigold Reit S.A. engages in the short-term rental of apartments.


Snowflake Analysis

Excellent balance sheet and slightly overvalued.

Share Price & News

How has Hornigold Reit's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: HRL's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

9.9%

HRL

-1.5%

PL REITs

0.6%

PL Market


1 Year Return

23.0%

HRL

-20.5%

PL REITs

-16.0%

PL Market

Return vs Industry: HRL exceeded the Polish REITs industry which returned -20.6% over the past year.

Return vs Market: HRL exceeded the Polish Market which returned -16% over the past year.


Shareholder returns

HRLIndustryMarket
7 Day9.9%-1.5%0.6%
30 Day69.5%-1.6%-0.3%
90 Day151.0%-5.3%16.7%
1 Year23.0%23.0%-16.6%-20.5%-14.6%-16.0%
3 Year328.6%328.6%-2.4%-15.4%-19.1%-24.0%
5 Year900.0%900.0%2.7%-18.8%-10.9%-20.9%

Price Volatility Vs. Market

How volatile is Hornigold Reit's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Hornigold Reit undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: HRL (PLN0.3) is trading below our estimate of fair value (PLN3.46)

Significantly Below Fair Value: HRL is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: HRL is poor value based on its PE Ratio (14.9x) compared to the XE REITs industry average (13.6x).

PE vs Market: HRL is poor value based on its PE Ratio (14.9x) compared to the Polish market (13.2x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate HRL's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: HRL is overvalued based on its PB Ratio (3.7x) compared to the XE REITs industry average (0.9x).


Next Steps

Future Growth

How is Hornigold Reit forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

16.8%

Forecasted Real Estate industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Hornigold Reit has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Hornigold Reit performed over the past 5 years?

75.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: HRL has a large one-off gain of PLN2.9M impacting its March 31 2020 financial results.

Growing Profit Margin: HRL became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: HRL has become profitable over the past 5 years, growing earnings by 75.1% per year.

Accelerating Growth: HRL has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: HRL has become profitable in the last year, making it difficult to compare its past year earnings growth to the REITs industry (9.7%).


Return on Equity

High ROE: Whilst HRL's Return on Equity (24.9%) is high, this metric is skewed due to their high level of debt.


Next Steps

Financial Health

How is Hornigold Reit's financial position?


Financial Position Analysis

Short Term Liabilities: HRL's short term assets (PLN3.3M) do not cover its short term liabilities (PLN6.4M).

Long Term Liabilities: HRL's short term assets (PLN3.3M) exceed its long term liabilities (PLN36.4K).


Debt to Equity History and Analysis

Debt Level: HRL is debt free.

Reducing Debt: HRL has no debt compared to 5 years ago when its debt to equity ratio was 9.2%.

Debt Coverage: HRL has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: HRL has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

What is Hornigold Reit current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate HRL's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate HRL's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if HRL's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if HRL's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of HRL's dividend in 3 years as they are not forecast to pay a notable one for the Polish market.


Next Steps

Management

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


CEO

Marek Krystoforski

no data

Tenure

Mr. Marek Krystoforski serves as President of Management Board at Hornigold Reit S.A. (formerly known as Mobile Partner S.A.). 


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.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Hornigold Reit S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Hornigold Reit S.A.
  • Ticker: HRL
  • Exchange: WSE
  • Founded: 2010
  • Industry: Residential REITs
  • Sector: Real Estate
  • Market Cap: zł49.078m
  • Shares outstanding: 163.59m
  • Website: https://www.hornigoldreit.pl

Location

  • Hornigold Reit S.A.
  • ul. Moniuszki 10/1
  • Katowice
  • 40-005
  • Poland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
HRLWSE (Warsaw Stock Exchange)YesCommon Bearer SharesPLPLNJun 2011

Biography

Hornigold Reit S.A. engages in the short-term rental of apartments. The company was founded in 2010 and is based in Katowice, Poland. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/11 21:05
End of Day Share Price2020/07/10 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


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.