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United Development Funding IV

OTCPK:UDFI
Snowflake Description

Slightly overvalued unattractive dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
UDFI
OTCPK
$121M
Market Cap
  1. Home
  2. US
  3. Diversified Financials
Company description

United Development Funding IV invests in secured loans for the acquisition and development of land into single-family home lots, and the construction of model and new single-family homes. The last earnings update was 1226 days ago. More info.


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UDFI Share Price and Events
7 Day Returns
-1.8%
OTCPK:UDFI
0.7%
US Mortgage REITs
2.4%
US Market
1 Year Returns
26.8%
OTCPK:UDFI
-0.3%
US Mortgage REITs
1.9%
US Market
UDFI Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
United Development Funding IV (UDFI) -1.8% -3% 2.1% 26.8% 22.8% -
US Mortgage REITs 0.7% 0.6% 3.7% -0.3% 11.3% -8.1%
US Market 2.4% 1.7% 11.9% 1.9% 38.2% 42.4%
1 Year Return vs Industry and Market
  • UDFI outperformed the Mortgage REITs industry which returned -0.3% over the past year.
  • UDFI outperformed the Market in United States of America which returned 1.9% over the past year.
Price Volatility
Industry
5yr Volatility vs Market

UDFI Value

 Is United Development Funding IV undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of United Development Funding IV to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data    Our intrinsic value calculation method has changed recently, learn more here.

Below are the data sources, inputs and calculation used to determine the intrinsic value for United Development Funding IV.

OTCPK:UDFI Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Dividend Discount Model
Dividend Per Share Company Filings (2015-09-30) in USD $ .960000
Payout Ratio Company Filings (2015-09-30) 8792%
Discount Rate (Cost of Equity) See below 7.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for OTCPK:UDFI
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Mortgage REITs Unlevered Beta Simply Wall St/ S&P Global 0.29
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.291 (1 + (1- 21%) (0%))
0.636
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.8 * 5.96%)
7.5%

Discounted Cash Flow Calculation for OTCPK:UDFI using Dividend Discount Model Model

The calculations below outline how an intrinsic value for United Development Funding IV is arrived at by discounting future dividends to their present value. This approach is used for finance firms where free cash flow is difficult to estimate (e.g. Banks/ Insurance firms).

If the firm does not pay the majority of its earnings out as a dividend this method will often arrive at a value significantly lower than the share price.

See our documentation to learn about this calculation.

OTCPK:UDFI Gordon Growth Model
Calculation Result
Value per share = Expected dividends per share / (Discount Rate - Perpetual growth rate)
= $0.96 / (7.5% - 2.73%)
$14.54
OTCPK:UDFI Discount to Share Price
Calculation Result
Value per share (USD) From above. $14.54
Current discount Discount to share price of $3.93
= -1 x ($3.93 - $14.54) / $14.54
73%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price United Development Funding IV is available for.
Intrinsic value
>50%
Share price is $3.93 vs Future cash flow value of $14.54
Current Discount Checks
For United Development Funding IV to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • United Development Funding IV's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • United Development Funding IV's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for United Development Funding IV's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are United Development Funding IV's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:UDFI PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2015-09-30) in USD Not available
OTCPK:UDFI Share Price ** OTCPK (2019-03-18) in USD $3.93
United States of America Mortgage REITs Industry PE Ratio Median Figure of 22 Publicly-Listed Mortgage REITs Companies 11.54x
United States of America Market PE Ratio Median Figure of 3,055 Publicly-Listed Companies 17.61x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of United Development Funding IV.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to compare the PE ratio to the industry average as no data exists.
  • Unable to calculate PE ratio for United Development Funding IV, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does United Development Funding IV's expected growth come at a high price?
Raw Data
OTCPK:UDFI PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 0x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
United States of America Mortgage REITs Industry PEG Ratio Median Figure of 21 Publicly-Listed Mortgage REITs Companies 0.99x
United States of America Market PEG Ratio Median Figure of 2,109 Publicly-Listed Companies 1.48x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for United Development Funding IV, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on United Development Funding IV's assets?
Raw Data
OTCPK:UDFI PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2015-09-30) in USD Not available
OTCPK:UDFI Share Price * OTCPK (2019-03-18) in USD $3.93
United States of America Mortgage REITs Industry PB Ratio Median Figure of 37 Publicly-Listed Mortgage REITs Companies 0.98x
United States of America Market PB Ratio Median Figure of 5,152 Publicly-Listed Companies 1.87x

* Primary Listing of United Development Funding IV.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to compare the PB ratio to the industry average as no data exists.
X
Value checks
We assess United Development Funding IV's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Mortgage REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Mortgage REITs industry average (and greater than 0)? (1 check)
  5. United Development Funding IV has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

UDFI Future Performance

 How is United Development Funding IV expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

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 United Development Funding IV 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 Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
30.7%
Expected Mortgage REITs industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is United Development Funding IV expected to grow at an attractive rate?
  • Unable to compare United Development Funding IV's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare United Development Funding IV's earnings growth to the United States of America market average as no estimate data is available.
  • Unable to compare United Development Funding IV's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
OTCPK:UDFI Future Growth Rates Data Sources
Data Point Source Value (per year)
United States of America Mortgage REITs Industry Earnings Growth Rate Market Cap Weighted Average 30.7%
United States of America Mortgage REITs Industry Revenue Growth Rate Market Cap Weighted Average 26.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
OTCPK:UDFI Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 years ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:UDFI Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2015-09-30 87 44 56
2015-06-30 84 46 56
2015-03-31 84 44 53
2014-12-31 83 47 50
2014-09-30 79 42 45
2014-06-30 71 36 40
2014-03-31 62 27 34
2013-12-31 52 25 29
2013-09-30 43 18 24
2013-06-30 36 13 21
2013-03-31 31 12 18
2012-12-31 26 10 14

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if United Development Funding IV is high growth as no earnings estimate data is available.
  • Unable to determine if United Development Funding IV is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
OTCPK:UDFI Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 years ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from United Development Funding IV Company Filings, last reported 3 years ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:UDFI Past Financials Data
Date (Data in USD Millions) EPS *
2015-09-30 1.84
2015-06-30 1.81
2015-03-31 1.70
2014-12-31 1.60
2014-09-30 1.43
2014-06-30 1.24
2014-03-31 1.12
2013-12-31 1.08
2013-09-30 1.03
2013-06-30 1.11
2013-03-31 1.21
2012-12-31 1.17

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if United Development Funding IV will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Take a look at our analysis of UDFI’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.
  2. United Development Funding IV's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Diversified Financials companies here
  3. While we do not consider unaudited financials to be a reliable enough to include in our analysis, you can access them on the OTC Markets Website. If you are looking for more of a qualitative research into the company, you can access United Development Funding IV's filings and announcements here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess United Development Funding IV's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
United Development Funding IV has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

UDFI Past Performance

  How has United Development Funding IV performed over the past 5 years?

In this section we usually display a company’s past earnings and revenues to help investors visualise the trend through time. We also gauge the company’s performance by benchmarking its returns and growth to its industry peers and the wider market. However, United Development Funding IV has not provided sufficient past data to assess its track record.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have historical data. You can see them here.

Show me the analysis anyway

  • United Development Funding IV's last earnings update was 1226 days ago.
The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare United Development Funding IV's growth in the last year to its industry (Mortgage REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Insufficient past earnings data to establish if United Development Funding IV's year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare United Development Funding IV's 1-year growth to the 5-year average as past earnings data has not been reported.
  • Unable to compare United Development Funding IV's 1-year growth to the US Mortgage REITs industry average as past earnings data has not been reported.
Earnings and Revenue History
United Development Funding IV's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from United Development Funding IV Company Filings, last reported 3 years ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:UDFI Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2015-09-30 87.47 56.45 16.73
2015-06-30 83.93 55.51 16.47
2015-03-31 84.01 52.60 18.57
2014-12-31 82.52 50.14 19.63
2014-09-30 79.00 45.25 22.02
2014-06-30 71.36 39.55 23.64
2014-03-31 62.22 34.30 22.18
2013-12-31 52.12 29.34 19.93
2013-09-30 42.64 24.06 18.02
2013-06-30 36.19 20.67 14.87
2013-03-31 30.93 17.62 12.42
2012-12-31 26.00 13.90 11.02
2012-09-30 21.46 11.39 9.17
2012-06-30 17.56 9.24 7.57
2012-03-31 14.45 7.75 5.98

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Unable to establish if United Development Funding IV has efficiently used shareholders’ funds last year as no Return on Equity data is available.
  • Unable to establish if United Development Funding IV has efficiently used its assets last year compared to the US Mortgage REITs industry average (Return on Assets) as past financial data has not been reported.
  • Unable to establish if United Development Funding IV improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.

Next steps:

  1. When a company lacks a financial track record, its management’s track record becomes important. Corporate governance also plays an important role in a young business as board members are seen as highly-experienced leaders to help steer the company into the future. Take a look at United Development Funding IV's management and board experience and expertise to assess their ability to deliver on their strategic promises.
  2. While we do not consider unaudited financials to be a reliable enough to include in our analysis, you can access them on the OTC Markets Website. If you are looking for more of a qualitative research into the company, you can access United Development Funding IV's filings and announcements here.
  3. Past financial records are usually unavailable for companies that have just been established or recently publicly listed, which makes them inherently riskier. Take a look at a list of well-established companies here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Past performance checks
We assess United Development Funding IV's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Mortgage REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
United Development Funding IV has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

UDFI Health

 How is United Development Funding IV's financial health and their level of debt?

In this section we usually analyse United Development Funding IV's finance health to determine how well-positioned it is against times of financial distress, in particular, its ability to manage its cash and debt levels. United Development Funding IV has not provided adequate balance sheet data, its financial health cannot be properly assessed as it.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have financial information. You can see them here.

Show me the analysis anyway

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up United Development Funding IV's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Unable to compare short term assets to short term liabilities as United Development Funding IV has not reported sufficient balance sheet data.
  • Unable to establish if United Development Funding IV's long term commitments exceed its cash and other short term assets as United Development Funding IV has not reported sufficient balance sheet data.
Balance sheet
This treemap shows a more detailed breakdown of United Development Funding IV's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Unable to establish if United Development Funding IV has a high level of physical assets or inventory without balance sheet data.
  • Unable to verify if debt is covered by short term assets as United Development Funding IV has not reported sufficient balance sheet data.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from United Development Funding IV Company Filings, last reported 3 years ago.

OTCPK:UDFI Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2015-09-30 510.16 170.91 18.98
2015-06-30 508.13 170.23 12.64
2015-03-31 505.94 173.62 13.28
2014-12-31 503.94 170.24 30.48
2014-09-30 503.86 142.35 12.02
2014-06-30 535.74 73.18 18.34
2014-03-31 533.26 40.82 8.57
2013-12-31 531.11 30.52 33.57
2013-09-30 530.58 4.45 64.36
2013-06-30 531.17 13.12 155.87
2013-03-31 346.29 36.25 43.40
2012-12-31 294.30 40.01 23.23
2012-09-30 253.45 33.62 24.11
2012-06-30 202.17 23.17 15.30
2012-03-31 156.25 34.07 7.32
  • Unable to establish if United Development Funding IV's level of debt is high without past debt data.
  • Unable to establish if United Development Funding IV's debt level has increased without past 5-year debt data.
  • Unable to verify if debt is well covered by operating cash flow as United Development Funding IV has not reported sufficient balance sheet data.
  • Unable to confirm if the interest payments on United Development Funding IV's debt are well covered by earnings due to lack of past financial data.

Next steps:

  1. Take a look at our analysis of UDFI’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.
  2. Investors tend to look at the financial health of a company this size in order to assess the sustainability of its current operations. While we do not consider unaudited financials to be a reliable enough to include in our analysis, you can access them on the OTC Markets Website.
  3. Financial health is measured at one point in time, so the latest financial report is the best representation of the company’s current financial status. Check when United Development Funding IV's financial data was last updated here.
  4. Companies with strong financial health are considered a less risky investment. Discover these stocks here.
  5. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Financial health checks
We assess United Development Funding IV's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. United Development Funding IV has a total score of 0/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

UDFI Dividends

 What is United Development Funding IV's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
24.43%
Current annual income from United Development Funding IV dividends.
If you bought $2,000 of United Development Funding IV shares you are expected to receive $489 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • United Development Funding IV's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.45%).
  • United Development Funding IV's dividend is above the markets top 25% of dividend payers in United States of America (3.64%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
OTCPK:UDFI Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
United States of America Mortgage REITs Industry Average Dividend Yield Market Cap Weighted Average of 36 Stocks 10.6%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2004 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

OTCPK:UDFI Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2016-11-08 0.960 31.809
2016-01-05 1.695 33.977
2015-10-01 1.695 11.230
2015-07-02 1.640 9.249
2015-04-06 1.680 9.431
2015-01-05 1.680 9.853
2014-10-02 1.675 8.748
2014-07-02 1.640 8.673
2014-06-04 1.690 8.653

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • United Development Funding IV has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • United Development Funding IV has only been paying a dividend for 5 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of United Development Funding IV's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as United Development Funding IV has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess United Development Funding IV's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can United Development Funding IV afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. United Development Funding IV has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

UDFI Management

 What is the CEO of United Development Funding IV's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Hollis Greenlaw
COMPENSATION $0
AGE 53
TENURE AS CEO 10.8 years
CEO Bio

Mr. Hollis M. Greenlaw has served as Chief Executive Officer and Chairman of the Board of United Development Funding Income Fund V (the “Company”) since its formation in October 2013. Mr. Greenlaw has also served as Co-Chairman for, and as a Partner of, UDF Holdings, L.P. (“UDFH”), one of the co-sponsors, since June 2012. In addition, since July 2014, he has served as Director, President and Chief Executive Officer of UDF Services, LLC (“UDF Services”), the company’s general partner of UDFH, and Chief Executive Officer of UDFH Land Development, L.P. (“UDFH LD”), the company’s asset manager. Mr. Greenlaw also has served as Chief Executive Officer of UMTH Land Development, L.P. (“UMTH LD”) since March 2003 and served as its President from March 2003 until July 2011. He also has served as Partner, Vice Chairman and Chief Executive Officer of UMT Holdings, L.P. (“UMT Holdings”) and as President, Chief Executive Officer and a Director of UMT Services, Inc. (“UMT Services”) since March 2003. Mr. Greenlaw is also the co-founder of United Development Funding, L.P., United Development Funding II, L.P., United Development Funding III, L.P. and United Development Funding Land Opportunity Fund, L.P., as well as Chief Executive Officer and Chairman of the Board of trustees of United Development Funding IV, all of which are affiliated real estate finance companies that provide custom financing, including transactions involving real estate development and construction loans and credit enhancements, and make opportunistic purchases of land for residential lot development and home construction. Mr. Greenlaw has directed the funding of over approximately $2.33 billion in loans and equity investments through the United Development Funding family of funds, receiving more than $1.1 billion in repayments. From March 1997 until June 2003, Mr. Greenlaw served as Chairman, President, and Chief Executive Officer of a multi-family real estate development and management company owned primarily by The Hartnett Group, Ltd., a closely-held private investment company managing more than $40 million in assets. There he developed seven multi-family communities in Arizona, Texas, and Louisiana with a portfolio value exceeding $80 million. Prior to joining The Hartnett Group, Mr. Greenlaw was an attorney with the Washington, D.C. law firm, Williams & Connolly, where he practiced business and tax law. Mr. Greenlaw was a member of Phi Beta Kappa at Bowdoin College and received his Juris Doctorate from the Columbia University School of Law in 1990. Mr. Greenlaw is a member of the Maine, District of Columbia and Texas bars.

CEO Compensation
  • Insufficient data for Hollis to compare compensation growth.
  • Insufficient data for Hollis to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the United Development Funding IV management team in years:

10.8
Average Tenure
53
Average Age
  • The average tenure for the United Development Funding IV management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Hollis Greenlaw

TITLE
Chairman & CEO
AGE
53
TENURE
10.8 yrs

Cara Obert

TITLE
Chief Financial Officer and Treasurer
AGE
48
TENURE
10.8 yrs

Mike Wilson

TITLE
Director of UMT Services & Partner of UMT Holdings
AGE
55

Donna Lawson

TITLE
Secretary

Todd Etter

TITLE
Chairman & Partner of UMT Holdings
AGE
68

Ben Wissink

TITLE
President UMTH Land Development LP & Partner of UMT Holdings
AGE
36
TENURE
7.8 yrs

Brandon Jester

TITLE
Director of Asset Management & UMTCH Land Development
Board of Directors Tenure

Average tenure and age of the United Development Funding IV board of directors in years:

10.6
Average Tenure
68
Average Age
  • The average tenure for the United Development Funding IV board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Hollis Greenlaw

TITLE
Chairman & CEO
AGE
53
TENURE
10.8 yrs

Todd Etter

TITLE
Chairman & Partner of UMT Holdings
AGE
68

Phillip Marshall

TITLE
Independent Trustee
COMPENSATION
$103K
AGE
69
TENURE
10.6 yrs

Steven Finkle

TITLE
Independent Trustee
COMPENSATION
$101K
AGE
68
TENURE
10.6 yrs

J. Malone

TITLE
Independent Trustee
COMPENSATION
$101K
AGE
51
TENURE
10.6 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess United Development Funding IV's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. United Development Funding IV has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

UDFI News

Simply Wall St News

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Simply Wall St -

UDFI Company Info

Description

United Development Funding IV invests in secured loans for the acquisition and development of land into single-family home lots, and the construction of model and new single-family homes. It also makes equity investments in residential real estate. The company has elected to be taxed as a real estate investment trust. As a result, it would not be subject to corporate income tax on that portion of its net income that is distributed to shareholders. United Development Funding IV was founded in 2008 and is headquartered in Grapevine, Texas.

Details
Name: United Development Funding IV
UDFI
Exchange: OTCPK
Founded: 2008
$120,595,642
30,685,914
Website: http://www.udfiv.com
Address: United Development Funding IV
1301 Municipal Way,
Suite 200,
Grapevine,
Texas, 76051,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OTCPK UDFI Common Shares Pink Sheets LLC US USD 04. Jun 2014
Number of employees
Current staff
Staff numbers
0
United Development Funding IV employees.
Industry
Mortgage REITs
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/19 00:26
End of day share price update: 2019/03/18 00:00
Last earnings filing: 2015/11/09
Last earnings reported: 2015/09/30
Last annual earnings reported: 2014/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.