Loading...

Griffin Industrial Realty

Nasdaq:GRIF
Snowflake Description

Moderate growth potential with worrying balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
GRIF
Nasdaq
$191M
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

Griffin Industrial Realty, Inc. develops, manages, and leases industrial and commercial properties in the United States. The last earnings update was 47 days ago. More info.


Add to Portfolio Compare Print
GRIF Share Price and Events
7 Day Returns
-0.5%
NasdaqGM:GRIF
-0.4%
US Real Estate
-1.4%
US Market
1 Year Returns
-10%
NasdaqGM:GRIF
-15.7%
US Real Estate
1.6%
US Market
GRIF Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Griffin Industrial Realty (GRIF) -0.5% 4.3% 15.6% -10% 18.5% 34.6%
US Real Estate -0.4% -8.6% -11.1% -15.7% 14.9% 0.8%
US Market -1.4% -3.9% 0.2% 1.6% 33.2% 38.2%
1 Year Return vs Industry and Market
  • GRIF outperformed the Real Estate industry which returned -15.7% over the past year.
  • GRIF underperformed the Market in United States of America which returned 1.6% over the past year.
Price Volatility
GRIF
Industry
5yr Volatility vs Market

Value

 Is Griffin Industrial Realty 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 Griffin Industrial Realty 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

Below are the data sources, inputs and calculation used to determine the intrinsic value for Griffin Industrial Realty.

NasdaqGM:GRIF Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 11.8%
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 NasdaqGM:GRIF
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Real Estate Unlevered Beta Simply Wall St/ S&P Global 1.11
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.111 (1 + (1- 21%) (75.52%))
1.519
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.52
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.519 * 5.96%)
11.78%

Discounted Cash Flow Calculation for NasdaqGM:GRIF using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Griffin Industrial Realty is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NasdaqGM:GRIF DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 11.78%)
2019 7.79 Est @ -8.71% 6.97
2020 7.38 Est @ -5.28% 5.91
2021 7.17 Est @ -2.88% 5.13
2022 7.08 Est @ -1.19% 4.54
2023 7.08 Est @ -0.02% 4.06
2024 7.14 Est @ 0.81% 3.66
2025 7.24 Est @ 1.38% 3.32
2026 7.37 Est @ 1.79% 3.02
2027 7.52 Est @ 2.07% 2.76
2028 7.69 Est @ 2.27% 2.52
Present value of next 10 years cash flows $41.88
NasdaqGM:GRIF DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $7.69 × (1 + 2.73%) ÷ (11.78% – 2.73%)
$87.27
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $87.27 ÷ (1 + 11.78%)10
$28.65
NasdaqGM:GRIF Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $41.88 + $28.65
$70.54
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $70.54 / 5.07
$13.93
NasdaqGM:GRIF Discount to Share Price
Calculation Result
Value per share (USD) From above. $13.93
Current discount Discount to share price of $37.80
= -1 x ($37.80 - $13.93) / $13.93
-171.4%

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

  • The current share price of Griffin Industrial Realty is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Griffin Industrial Realty's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Griffin Industrial Realty's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGM:GRIF PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-02-28) in USD $-0.10
NasdaqGM:GRIF Share Price ** NasdaqGM (2019-05-24) in USD $37.8
United States of America Real Estate Industry PE Ratio Median Figure of 26 Publicly-Listed Real Estate Companies 15.15x
United States of America Market PE Ratio Median Figure of 3,084 Publicly-Listed Companies 17.44x

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

** Primary Listing of Griffin Industrial Realty.

NasdaqGM:GRIF PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGM:GRIF Share Price ÷ EPS (both in USD)

= 37.8 ÷ -0.10

-369.14x

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

  • Griffin Industrial Realty is loss making, we can't compare its value to the US Real Estate industry average.
  • Griffin Industrial Realty is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Griffin Industrial Realty's expected growth come at a high price?
Raw Data
NasdaqGM:GRIF PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -369.14x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
39.4%per year
United States of America Real Estate Industry PEG Ratio Median Figure of 12 Publicly-Listed Real Estate Companies 0.44x
United States of America Market PEG Ratio Median Figure of 2,121 Publicly-Listed Companies 1.51x

*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 Griffin Industrial Realty, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Griffin Industrial Realty's assets?
Raw Data
NasdaqGM:GRIF PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-02-28) in USD $18.34
NasdaqGM:GRIF Share Price * NasdaqGM (2019-05-24) in USD $37.8
United States of America Real Estate Industry PB Ratio Median Figure of 51 Publicly-Listed Real Estate Companies 1.45x
United States of America Market PB Ratio Median Figure of 5,207 Publicly-Listed Companies 1.8x
NasdaqGM:GRIF PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGM:GRIF Share Price ÷ Book Value per Share (both in USD)

= 37.8 ÷ 18.34

2.06x

* Primary Listing of Griffin Industrial Realty.

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

  • Griffin Industrial Realty is overvalued based on assets compared to the US Real Estate industry average.
X
Value checks
We assess Griffin Industrial Realty'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 Real Estate 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 Real Estate industry average (and greater than 0)? (1 check)
  5. Griffin Industrial Realty has a total score of 0/6, 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.

Future Performance

 How is Griffin Industrial Realty expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Griffin Industrial Realty, future earnings growth has been estimated based on fundamentals.
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
39.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Griffin Industrial Realty expected to grow at an attractive rate?
  • Griffin Industrial Realty's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Griffin Industrial Realty's earnings growth is expected to exceed the United States of America market average.
  • Unable to compare Griffin Industrial Realty's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
NasdaqGM:GRIF Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGM:GRIF Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 39.4%
United States of America Real Estate Industry Earnings Growth Rate Market Cap Weighted Average 3.8%
United States of America Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 4.7%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.7%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*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
NasdaqGM:GRIF Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months 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.
NasdaqGM:GRIF Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-02-28 35 9 -1
2018-11-30 34 8 -2
2018-08-31 34 9 -2
2018-05-31 36 10 -1
2018-02-28 45 10 4
2017-11-30 44 9 5
2017-08-31 45 9 6
2017-05-31 43 7 5
2017-02-28 31 7 0
2016-11-30 31 7 1
2016-08-31 28 7 -1
2016-05-31 29 8 1

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Griffin Industrial Realty's earnings are expected to grow significantly at over 20% yearly.
  • Unable to determine if Griffin Industrial Realty 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
NasdaqGM:GRIF Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Griffin Industrial Realty Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGM:GRIF Past Financials Data
Date (Data in USD Millions) EPS *
2019-02-28 -0.10
2018-11-30 -0.33
2018-08-31 -0.40
2018-05-31 -0.11
2018-02-28 0.77
2017-11-30 0.92
2017-08-31 1.28
2017-05-31 1.01
2017-02-28 -0.01
2016-11-30 0.11
2016-08-31 -0.12
2016-05-31 0.13

*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 Griffin Industrial Realty will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Griffin Industrial Realty'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.
Griffin Industrial Realty has a total score of 3/6, 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.

Past Performance

  How has Griffin Industrial Realty performed over the past 5 years?

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 Griffin Industrial Realty's growth in the last year to its industry (Real Estate).
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.
  • Griffin Industrial Realty does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Griffin Industrial Realty's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Griffin Industrial Realty's 1-year growth to the US Real Estate industry average as it is not currently profitable.
Earnings and Revenue History
Griffin Industrial Realty'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 Griffin Industrial Realty Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGM:GRIF Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-02-28 34.80 -0.52 7.70
2018-11-30 33.80 -1.65 7.75
2018-08-31 34.26 -2.00 7.94
2018-05-31 36.21 -0.55 7.76
2018-02-28 45.21 3.84 8.09
2017-11-30 43.88 4.63 8.18
2017-08-31 45.40 6.46 7.99
2017-05-31 42.71 5.08 8.10
2017-02-28 31.15 -0.03 8.03
2016-11-30 30.85 0.58 7.37
2016-08-31 27.95 -0.60 7.30
2016-05-31 28.87 0.65 6.86
2016-02-29 28.54 0.80 6.61
2015-11-30 28.09 0.43 7.06
2015-08-31 28.33 0.53 6.75
2015-05-31 26.25 -0.87 7.06
2015-02-28 25.39 -0.86 6.90
2014-11-30 24.22 -1.25 7.08
2014-08-31 24.51 -0.41 7.28
2014-05-31 23.91 -0.70 7.33
2014-02-28 24.96 -0.87 7.77
2013-11-30 25.53 1.91 7.79
2013-08-31 11.84 0.65 5.10
2013-06-01 18.88 3.02 5.76
2013-03-02 25.23 3.01 6.33
2012-12-01 24.22 0.20 6.84
2012-09-01 40.79 0.95 10.22
2012-06-02 36.25 -1.50 9.88

*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.
  • It is difficult to establish if Griffin Industrial Realty has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • Griffin Industrial Realty used its assets less efficiently than the US Real Estate industry average last year based on Return on Assets.
  • It is difficult to establish if Griffin Industrial Realty improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Griffin Industrial Realty'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 Real Estate 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.
Griffin Industrial Realty 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.

Health

 How is Griffin Industrial Realty's financial health and their level of debt?

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 Griffin Industrial Realty's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Griffin Industrial Realty is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Griffin Industrial Realty's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Griffin Industrial Realty'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.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
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 Griffin Industrial Realty Company Filings, last reported 2 months ago.

NasdaqGM:GRIF Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-02-28 92.87 144.59 9.23
2018-11-30 94.83 145.11 11.75
2018-08-31 96.40 141.21 14.95
2018-05-31 95.50 134.14 31.58
2018-02-28 94.44 135.47 35.99
2017-11-30 93.05 130.05 30.71
2017-08-31 94.01 134.01 35.01
2017-05-31 93.28 122.07 32.27
2017-02-28 89.01 110.36 20.61
2016-11-30 90.80 111.59 24.90
2016-08-31 90.51 104.48 13.96
2016-05-31 91.23 104.40 21.12
2016-02-29 93.36 98.49 19.75
2015-11-30 94.81 91.95 18.27
2015-08-31 96.87 81.78 6.35
2015-05-31 95.38 82.43 18.78
2015-02-28 95.13 83.11 23.52
2014-11-30 95.88 72.50 17.07
2014-08-31 96.72 72.80 16.53
2014-05-31 96.88 67.92 13.11
2014-02-28 97.15 68.39 10.11
2013-11-30 98.12 68.99 14.24
2013-08-31 105.15 68.95 15.19
2013-06-01 105.18 61.09 5.18
2013-03-02 105.39 61.88 8.04
2012-12-01 104.15 62.75 10.18
2012-09-01 105.37 63.20 10.67
2012-06-02 103.26 63.29 11.94
  • Griffin Industrial Realty's level of debt (155.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (70.4% vs 155.7% today).
  • Debt is not well covered by operating cash flow (5.9%, less than 20% of total debt).
  • Griffin Industrial Realty is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess Griffin Industrial Realty'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. Griffin Industrial Realty has a total score of 1/6, 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.

Dividends

 What is Griffin Industrial Realty'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
1.19%
Current annual income from Griffin Industrial Realty dividends.
If you bought $2,000 of Griffin Industrial Realty shares you are expected to receive $24 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?
  • Griffin Industrial Realty's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.47%).
  • Griffin Industrial Realty's dividend is below the markets top 25% of dividend payers in United States of America (3.75%).
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
NasdaqGM:GRIF 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 Real Estate Industry Average Dividend Yield Market Cap Weighted Average of 16 Stocks 2.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2007 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 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

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

NasdaqGM:GRIF Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2018-11-15 0.450 1.311
2017-11-15 0.400 1.039
2016-11-16 0.300 0.931
2015-11-18 0.300 1.080
2014-11-19 0.200 0.673
2013-11-20 0.200 0.685
2012-11-14 0.200 0.677
2012-10-11 0.000 0.000
2012-07-12 0.000 0.000
2012-04-12 0.000 0.000
2011-11-16 0.400 1.508
2011-07-13 0.400 1.516
2011-05-11 0.400 1.456
2011-01-27 0.400 1.307
2010-11-17 0.400 1.333
2010-07-21 0.400 1.498
2010-05-12 0.400 1.491
2010-01-28 0.400 1.392
2009-11-18 0.400 1.408
2009-07-15 0.400 1.310

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Griffin Industrial Realty's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
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 Griffin Industrial Realty'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 Griffin Industrial Realty afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Griffin Industrial Realty has a total score of 1/6, see the detailed checks below.


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

Management

 What is the CEO of Griffin Industrial Realty'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
Mike Gamzon
COMPENSATION $653,403
AGE 48
TENURE AS CEO 3.3 years
CEO Bio

Mr. Michael S. Gamzon, also known as Mike, has been the Chief Executive Officer and President of Griffin Industrial Realty, Inc. (formerly, Griffin Land & Nurseries Inc.) since January 1, 2016 and May 17, 2012 respectively and served as its Chief Operating Officer since September 15, 2010 until January 1, 2016. Mr. Gamzon has over 14 years of experience in corporate finance, strategy, private equity and public security investing. He served as Executive Vice President at Griffin Industrial Realty, Inc. from September 15, 2010 to May 17, 2012. He was responsible for seeking new business opportunities in the real estate field. He served as Corporate Vice President at Griffin Industrial Realty, Inc. since January 2008 to August 2010. He served as a Senior Analyst of Alson Capital Partners, LLC, an investment firm from April 2005 to January 2008. He served as Investment Analyst at Cobalt Capital Management, LLC from March 2002 to March 2005. Mr. Gamzon served at large corporations including investment bank Donaldson, Lufkin & Jenrette in its investment banking and private equity divisions, PepsiCo in its strategic planning group and served as an investment professional at SCP Private Equity Partners. He serves as Director of Auxilium Holdings, Inc. He has been a Director of Griffin Industrial Realty, Inc. since January 19, 2016. Mr. Gamzon received a B.A. from Yale University and an M.B.A. from the Harvard Business School.

CEO Compensation
  • Mike's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Mike's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Griffin Industrial Realty management team in years:

15.5
Average Tenure
55
Average Age
  • The average tenure for the Griffin Industrial Realty management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Mike Danziger

TITLE
Executive Chairman of the Board
COMPENSATION
$404K
AGE
79

Mike Gamzon

TITLE
CEO, President & Director
COMPENSATION
$653K
AGE
48
TENURE
3.3 yrs

Tim Lescalleet

TITLE
Senior Vice President of Griffin Industrial LLC
COMPENSATION
$428K
AGE
55
TENURE
17.2 yrs

Anthony Galici

TITLE
VP, CFO & Secretary
COMPENSATION
$403K
AGE
60
TENURE
22.1 yrs

Scott Bosco

TITLE
Vice President of Construction - Griffin Industrial LLC
COMPENSATION
$274K
AGE
52
TENURE
13.8 yrs

Randy Gudauskas

TITLE
Controller of Griffin Industrial LLC
Board of Directors Tenure

Average tenure and age of the Griffin Industrial Realty board of directors in years:

5.3
Average Tenure
51
Average Age
  • The tenure for the Griffin Industrial Realty board of directors is about average.
Board of Directors

Mike Danziger

TITLE
Executive Chairman of the Board
COMPENSATION
$404K
AGE
79
TENURE
7 yrs

Mike Gamzon

TITLE
CEO, President & Director
COMPENSATION
$653K
AGE
48
TENURE
3.3 yrs

Albert Small

TITLE
Independent Director
COMPENSATION
$69K
AGE
61
TENURE
10.3 yrs

Jon May

TITLE
Independent Director
COMPENSATION
$77K
AGE
51
TENURE
6.7 yrs

Edgar Cullman

TITLE
Director
COMPENSATION
$54K
AGE
72
TENURE
4 yrs

David Bechtel

TITLE
Independent Director
COMPENSATION
$67K
AGE
50
TENURE
3 yrs

Amy Silverman

TITLE
Director
AGE
51
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 ($) Value ($)
17. May 19 Sell GAMCO Investors, Inc. Company 21. Mar 19 16. May 19 -55,003 $36.60 $-25,500
17. May 19 Buy GAMCO Investors, Inc. Company 22. Mar 19 12. Apr 19 8,452 $36.33 $296,616
11. Jul 18 Sell Teton Advisors, Inc Company 26. Jun 18 26. Jun 18 -647 $45.55 $-29,471
11. Jul 18 Sell GAMCO Investors, Inc. Company 11. May 18 06. Jul 18 -24,503 $46.15 $-124,106
X
Management checks
We assess Griffin Industrial Realty'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. Griffin Industrial Realty 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.

News

Simply Wall St News

Does Griffin Industrial Realty, Inc. (NASDAQ:GRIF) Have A Place In Your Portfolio?

(NASDAQ:GRIF) a good dividend stock? How would you know? A dividend paying company with growing earnings can be rewarding in the long term.. … If you are hoping to live on your dividends, it's important to be more stringent with your investments than the average punter. Regular readers know we like to apply the same approach to each dividend stock, and we hope you'll find our analysis useful.. … While Griffin Industrial Realty's 1.2% dividend yield is not the highest, we think its lengthy payment history is quite interesting.!

Simply Wall St -

Update: Griffin Industrial Realty (NASDAQ:GRIF) Stock Gained 38% In The Last Three Years

During the three years of share price growth, Griffin Industrial Realty actually saw its earnings per share (EPS) drop 3.3% per year. … Based on these numbers, we think that the decline in earnings per share may not be a good representation of how the business has changed over the years. … It could be that the revenue growth of 12% per year is viewed as evidence that Griffin Industrial Realty is growing.

Simply Wall St -

Before You Buy Griffin Industrial Realty, Inc. (NASDAQ:GRIF), Consider Its Volatility

(NASDAQ:GRIF), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … A stock with a beta greater than one is more sensitive to broader market movements than a stock with a beta of less than one.

Simply Wall St -

How Much is Griffin Industrial Realty, Inc.'s (NASDAQ:GRIF) CEO Getting Paid?

This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … How Does Mike Gamzon's Compensation Compare With Similar Sized Companies. … is worth US$158m, and total annual CEO compensation is US$699k.

Simply Wall St -

Griffin Industrial Realty Inc (NASDAQ:GRIF): Time For A Financial Health Check

Investors are always looking for growth in small-cap stocks like Griffin Industrial Realty Inc (NASDAQ:GRIF), with a market cap of US$177m. … However, an important fact which most ignore is: how financially healthy is the business? … the current state of its operations and pathway to profitability.

Simply Wall St -

Should You Buy Griffin Industrial Realty Inc (NASDAQ:GRIF) For Its Dividend?

Historically, Griffin Industrial Realty Inc (NASDAQ:GRIF) has been paying a dividend to shareholders. … Let's dig deeper into whether Griffin Industrial Realty should have a place in your portfolio. … See our latest analysis for Griffin Industrial Realty

Simply Wall St -

How Should You Think About Griffin Industrial Realty Inc's (NASDAQ:GRIF) Risks?

Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. … Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … Before we go on, it's worth noting that Warren Buffett pointed out in his 2014 letter to shareholders that 'volatility is far from synonymous with risk.' Having said that, beta can still be rather useful.

Simply Wall St -

Why Griffin Industrial Realty Inc (NASDAQ:GRIF) Delivered An Inferior ROE Compared To The Industry

and want to begin learning the link between Griffin Industrial Realty Inc (NASDAQ:GRIF)’s return fundamentals and stock market performance. … Griffin Industrial Realty Inc’s (NASDAQ:GRIF) most recent return on equity was a substandard 4.07% relative to its industry performance of 10.61% over the past year. … Though GRIF's recent performance is underwhelming, it is useful to understand what ROE is made up of and how it should be interpreted.

Simply Wall St -

Have Investors Already Priced In Real Estate Growth For Griffin Industrial Realty Inc (NASDAQ:GRIF)?

Griffin Industrial Realty Inc (NASDAQ:GRIF), a US$185.82M small-cap, operates in the real estate industry which is the most prevalent industry in the global economy, and as an asset class, it has continued to play a crucial role in the portfolios of various investors. … In this article, I’ll take you through the real estate sector growth expectations, as well as evaluate whether Griffin Industrial Realty is lagging or leading its competitors in the industry. … Given the lack of analyst consensus in Griffin Industrial Realty’s outlook, we could potentially assume the stock’s growth rate broadly follows its real estate industry peers.

Simply Wall St -

Is Griffin Industrial Realty Inc (GRIF) A Sell At Its Current PE Ratio?

By comparing a stock’s price per share to its earnings per share, we are able to see how much investors are paying for each dollar of the company’s earnings. … Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for GRIF Price per share = 36.95 Earnings per share = 1.284 ∴ Price-Earnings Ratio = 36.95 ÷ 1.284 = 28.8x The P/E ratio isn’t a metric you view in isolation and only becomes useful when you compare it against other similar companies. … For example, if you are inadvertently comparing riskier firms with GRIF, then GRIF’s P/E would naturally be higher than its peers since investors would reward its lower risk with a higher price.

Simply Wall St -

Company Info

Description

Griffin Industrial Realty, Inc. develops, manages, and leases industrial and commercial properties in the United States. As of November 30, 2018, the company owned 37 buildings comprising 25 industrial/warehouse buildings, 11 office/flex buildings, and a restaurant building. It also owns real estate properties in the Hartford, Connecticut area; the Lehigh Valley of Pennsylvania; and the greater Charlotte, North Carolina area, as well as Connecticut, Massachusetts, and Florida. The company was formerly known as Griffin Land & Nurseries, Inc. and changed its name to Griffin Industrial Realty, Inc. in May 2015. Griffin Industrial Realty, Inc. was incorporated in 1970 and is headquartered in New York City, New York.

Details
Name: Griffin Industrial Realty, Inc.
GRIF
Exchange: NasdaqGM
Founded: 1970
$191,463,539
5,065,173
Website: http://www.griffinindustrial.com
Address: Griffin Industrial Realty, Inc.
641 Lexington Avenue,
26th Floor,
New York,
New York, 10022,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGM GRIF Common Stock Nasdaq Global Market US USD 07. Jul 1997
Number of employees
Current staff
Staff numbers
34
Griffin Industrial Realty employees.
Industry
Real Estate Operating Companies
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/25 23:37
End of day share price update: 2019/05/24 00:00
Last earnings filing: 2019/04/08
Last earnings reported: 2019/02/28
Last annual earnings reported: 2018/11/30


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.