NasdaqGS:IRCP

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IRSA Propiedades Comerciales

Executive Summary

IRSA Propiedades Comerciales S.A. operates as an investment arm of IRSA Inversiones y Representaciones S.A.

Rewards


Snowflake Analysis


Similar Companies

Share Price & News

How has IRSA Propiedades Comerciales's share price performed over time and what events caused price changes?


Latest Share Price and Events

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


Market Performance


7 Day Return

0%

IRCP

2.9%

US Real Estate

2.4%

US Market


1 Year Return

-65.5%

IRCP

-15.7%

US Real Estate

9.2%

US Market

Return vs Industry: IRCP underperformed the US Real Estate industry which returned -15.7% over the past year.

Return vs Market: IRCP underperformed the US Market which returned 9.2% over the past year.


Shareholder returns

IRCPIndustryMarket
7 Day0%2.9%2.4%
30 Day-4.5%14.2%10.2%
90 Day-50.8%-23.0%3.4%
1 Year-64.6%-65.5%-15.2%-15.7%11.6%9.2%
3 Year-86.0%-86.9%-15.8%-17.7%33.7%24.9%
5 Year-79.0%-81.4%-23.1%-25.4%59.7%41.8%

Price Volatility Vs. Market

How volatile is IRSA Propiedades Comerciales's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is IRSA Propiedades Comerciales undervalued compared to its fair value and its price relative to the market?

0.49x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: IRCP ($6.11) is trading above our estimate of fair value ($3.09)

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


Price To Earnings Ratio

PE vs Industry: IRCP is unprofitable, so we can't compare its PE Ratio to the Real Estate industry average.

PE vs Market: IRCP is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: IRCP is good value based on its PB Ratio (0.5x) compared to the US Real Estate industry average (1.1x).

Future Growth

How is IRSA Propiedades Comerciales forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

79.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: IRCP is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (2.2%).

Earnings vs Market: IRCP is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: IRCP's is expected to become profitable in the next 3 years.

Revenue vs Market: IRCP's revenue (24.1% per year) is forecast to grow faster than the US market (8.8% per year).

High Growth Revenue: IRCP's revenue (24.1% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: IRCP's Return on Equity is forecast to be low in 3 years time (7.2%).

Past Performance

How has IRSA Propiedades Comerciales performed over the past 5 years?

-31.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: IRCP is currently unprofitable.

Growing Profit Margin: IRCP is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: IRCP is unprofitable, and losses have increased over the past 5 years at a rate of -31.7% per year.

Accelerating Growth: Unable to compare IRCP's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: IRCP is unprofitable, making it difficult to compare its past year earnings growth to the Real Estate industry (-6.4%).


Return on Equity

High ROE: IRCP has a negative Return on Equity (-23.89%), as it is currently unprofitable.

Financial Health

How is IRSA Propiedades Comerciales's financial position?


Financial Position Analysis

Short Term Liabilities: IRCP's short term assets (ARS13.9B) exceed its short term liabilities (ARS12.8B).

Long Term Liabilities: IRCP's short term assets (ARS13.9B) do not cover its long term liabilities (ARS42.1B).


Debt to Equity History and Analysis

Debt Level: IRCP's debt to equity ratio (65.6%) is considered high.

Reducing Debt: IRCP's debt to equity ratio has reduced from 319.2% to 65.6% over the past 5 years.

Debt Coverage: IRCP's debt is not well covered by operating cash flow (17.2%).

Interest Coverage: IRCP is unprofitable, therefore interest payments are not well covered by earnings.


Balance Sheet

Dividend

What is IRSA Propiedades Comerciales's current dividend yield, its reliability and sustainability?

2.55%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: IRCP's dividend (2.55%) is higher than the bottom 25% of dividend payers in the US market (1.65%).

High Dividend: IRCP's dividend (2.55%) is low compared to the top 25% of dividend payers in the US market (4.39%).


Stability and Growth of Payments

Stable Dividend: IRCP's dividend payments have been volatile in the past 10 years.

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


Current Payout to Shareholders

Dividend Coverage: IRCP is paying a dividend but the company is unprofitable.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.

Management

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

7.4yrs

Average management tenure


CEO

Alejandro Gustavo Elsztain (53yo)

18.42yrs

Tenure

Mr. Alejandro Gustavo Elsztain has been the Chief Executive Officer of IRSA Propiedades Comerciales S.A. since 2002, Executive Vice Chairman since 2003 also has been its General Manager since 2002. Mr. Els ...


Leadership Team

NamePositionTenureCompensationOwnership
Alejandro Gustavo Elsztain
Executive Vice Chairman18.42yrsno data0.55% ARS1.9m
Saul Zang
First Vice Chairman & Acting President17.42yrsno datano data
Matias Ivan Gaivironsky
Chief Financial & Administrative Officer4.42yrsno data0.00079% ARS2.7k
Daniel Elsztain
COO, Operating Manager & Executive Director16.42yrsno data0.0079% ARS27.0k
Arnaldo Jawerbaum
Chief Investment Officer & Compliance Officer3.42yrsno datano data
Juan José Martinucci
Chief Commercial Officer7.42yrsno datano data

7.4yrs

Average Tenure

50yo

Average Age

Experienced Management: IRCP's management team is seasoned and experienced (7.4 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Alejandro Gustavo Elsztain
Executive Vice Chairman18.42yrsno data0.55% ARS1.9m
Saul Zang
First Vice Chairman & Acting President17.42yrsno datano data
Daniel Elsztain
COO, Operating Manager & Executive Director16.42yrsno data0.0079% ARS27.0k
Eduardo Sergio Elsztain
Chairman of the Board26.42yrsno data0.015% ARS51.2k
Fernando Adrian Elsztain
Regular Director22.42yrsno datano data
José Daniel Abelovich
Member of Supervisory Committee15.42yrsno datano data
Leonardo Fabricio Fernández
Regular Director13.42yrsno datano data
Marcos Oscar Barylka
Independent Director4.42yrsno datano data
Isela Angelica Costantini
Independent Director3.42yrsno datano data
Javier Kizlansky
Independent Director1.42yrsno datano data

15.9yrs

Average Tenure

55.5yo

Average Age

Experienced Board: IRCP's board of directors are seasoned and experienced ( 15.9 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

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


Top Shareholders

Company Information

IRSA Propiedades Comerciales S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: IRSA Propiedades Comerciales S.A.
  • Ticker: IRCP
  • Exchange: NasdaqGS
  • Founded: 1889
  • Industry: Real Estate Operating Companies
  • Sector: Real Estate
  • Market Cap: AR$23.376b
  • Listing Market Cap: AR$339.777m
  • Shares outstanding: 126.01m
  • Website: https://www.irsacp.com.ar

Number of Employees


Location

  • IRSA Propiedades Comerciales S.A.
  • Moreno 877
  • 23rd Floor
  • Buenos Aires
  • Capital Federal
  • C1091AAQ
  • Argentina

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
IRCPBASE (Buenos Aires Stock Exchange)YesCommon StockARARSOct 1998
IRCPNasdaqGS (Nasdaq Global Select)SPON ADR EACH REPR ORDUSUSDNov 2000
A9PBST (Boerse-Stuttgart)SPON ADR EACH REPR ORDDEEURNov 2000

Biography

IRSA Propiedades Comerciales S.A. operates as an investment arm of IRSA Inversiones y Representaciones S.A. Alto Palermo S.A. engages in the ownership, acquisition, development, leasing, management, and operation of shopping centers, as well as residential and commercial complexes in Argentina. As of June 30, 2007, it owned and operated ten shopping centers covering a total of 264,995 square meters in Argentina, including six in the Buenos Aires metropolitan area and four in the provinces of Cordoba, Mendoza, Salta, and Santa Fe; and a condominium called Torres de Abasto located in front of the Abasto Shopping Center in Buenos Aires. The company offers leases to retail tenants in its ten shopping centers; administration and maintenance of common areas; administration of contributions made by tenants to finance promotional efforts for the shopping centers; and parking lot services for visitors. The company also offers credit card consumer finance service, through the issuance of its Tarjeta Shopping and Tarjeta Shopping Metroshop credit cards, for consumers at shopping centers, hypermarkets, and street stores. It also engages in the development and sale of residential properties, and acquisition and sale of undeveloped parcels of land for future development. In addition, it engages in the development of condominiums associated with its shopping centers. The company was founded in 1889 and is headquartered in Buenos Aires, Argentina. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/06/04 02:10
End of Day Share Price2020/06/03 00:00
Earnings2019/12/31
Annual Earnings2019/06/30


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.