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HFF

NYSE:HF
Snowflake Description

Acceptable track record second-rate dividend payer.

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

HFF, Inc. provides commercial real estate and capital market services to the consumers and providers of capital in the commercial real estate industry in the United States. The last earnings update was 13 days ago. More info.


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HF Share Price and Events
7 Day Returns
-1.4%
NYSE:HF
-0.9%
US Real Estate
-0.7%
US Market
1 Year Returns
28.3%
NYSE:HF
-15.7%
US Real Estate
3%
US Market
HF Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
HFF (HF) -1.4% -6.9% 5.1% 28.3% 48.1% 45.4%
US Real Estate -0.9% -6.6% -8.6% -15.7% 22.9% 4.2%
US Market -0.7% -2% 2.4% 3% 39.2% 42%
1 Year Return vs Industry and Market
  • HF outperformed the Real Estate industry which returned -15.7% over the past year.
  • HF outperformed the Market in United States of America which returned 3% over the past year.
Price Volatility
HF
Industry
5yr Volatility vs Market

Value

 Is HFF 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 HFF 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 HFF.

NYSE:HF Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 11.1%
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 NYSE:HF
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))
= 1.11 (1 + (1- 21%) (57.01%))
1.409
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.41
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.409 * 5.96%)
11.13%

Discounted Cash Flow Calculation for NYSE:HF using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for HFF 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.

NYSE:HF DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 11.13%)
2019 130.40 Analyst x1 117.34
2020 127.70 Analyst x1 103.41
2021 133.00 Analyst x1 96.91
2022 127.96 Est @ -3.79% 83.90
2023 125.61 Est @ -1.84% 74.11
2024 125.02 Est @ -0.47% 66.38
2025 125.64 Est @ 0.49% 60.03
2026 127.10 Est @ 1.16% 54.65
2027 129.18 Est @ 1.63% 49.98
2028 131.71 Est @ 1.96% 45.86
Present value of next 10 years cash flows $752.57
NYSE:HF DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $131.71 × (1 + 2.73%) ÷ (11.13% – 2.73%)
$1,611.22
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $1,611.22 ÷ (1 + 11.13%)10
$560.95
NYSE:HF Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $752.57 + $560.95
$1,313.52
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $1,313.52 / 39.82
$32.98
NYSE:HF Discount to Share Price
Calculation Result
Value per share (USD) From above. $32.98
Current discount Discount to share price of $44.41
= -1 x ($44.41 - $32.98) / $32.98
-34.6%

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

  • The current share price of HFF 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 HFF's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are HFF's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:HF PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $3.22
NYSE:HF Share Price ** NYSE (2019-05-17) in USD $44.41
United States of America Real Estate Industry PE Ratio Median Figure of 26 Publicly-Listed Real Estate Companies 15.37x
United States of America Market PE Ratio Median Figure of 3,088 Publicly-Listed Companies 17.89x

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

** Primary Listing of HFF.

NYSE:HF PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:HF Share Price ÷ EPS (both in USD)

= 44.41 ÷ 3.22

13.79x

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

  • HFF is good value based on earnings compared to the US Real Estate industry average.
  • HFF is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does HFF's expected growth come at a high price?
Raw Data
NYSE:HF PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 13.79x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
-4.3%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 2,117 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

NYSE:HF PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 13.79x ÷ -4.3%

-3.19x

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

  • HFF earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on HFF's assets?
Raw Data
NYSE:HF PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $7.67
NYSE:HF Share Price * NYSE (2019-05-17) in USD $44.41
United States of America Real Estate Industry PB Ratio Median Figure of 52 Publicly-Listed Real Estate Companies 1.44x
United States of America Market PB Ratio Median Figure of 5,195 Publicly-Listed Companies 1.83x
NYSE:HF PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:HF Share Price ÷ Book Value per Share (both in USD)

= 44.41 ÷ 7.67

5.79x

* Primary Listing of HFF.

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

  • HFF is overvalued based on assets compared to the US Real Estate industry average.
X
Value checks
We assess HFF'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. HFF 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.

Future Performance

 How is HFF expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

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
-4.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is HFF expected to grow at an attractive rate?
  • HFF's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.
Growth vs Market Checks
  • HFF's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • HFF's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:HF Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:HF Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts -4.3%
NYSE:HF Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 2.1%
United States of America Real Estate Industry Earnings Growth Rate Market Cap Weighted Average 6.9%
United States of America Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 6.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.9%
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
NYSE:HF Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:HF Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 707 137 1
2020-12-31 699 132 117 3
2019-12-31 688 134 123 3
NYSE:HF Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 663 169 127
2018-12-31 635 144 116
2018-09-30 612 133 105
2018-06-30 598 116 97
2018-03-31 583 105 92
2017-12-31 591 120 95
2017-09-30 563 108 88
2017-06-30 543 104 87
2017-03-31 524 110 83
2016-12-31 504 79 77
2016-09-30 521 92 84
2016-06-30 509 85 83

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • HFF's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • HFF's revenue is expected to grow by 2.1% yearly, however this is not considered high growth (20% yearly).
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
NYSE:HF Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from HFF Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:HF Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 2.78 2.78 2.78 1.00
2020-12-31 2.85 2.89 2.80 3.00
2019-12-31 3.07 3.10 3.03 2.00
NYSE:HF Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 3.22
2018-12-31 2.96
2018-09-30 2.69
2018-06-30 2.50
2018-03-31 2.38
2017-12-31 2.46
2017-09-30 2.29
2017-06-30 2.25
2017-03-31 2.16
2016-12-31 2.02
2016-09-30 2.20
2016-06-30 2.18

*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 HFF will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess HFF'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.
HFF 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.

Past Performance

  How has HFF 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 HFF'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.
  • HFF's year on year earnings growth rate has been positive over the past 5 years.
  • HFF's 1-year earnings growth exceeds its 5-year average (37.2% vs 13.9%)
  • HFF's earnings growth has exceeded the US Real Estate industry average in the past year (37.2% vs -15.8%).
Earnings and Revenue History
HFF'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 HFF Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:HF Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 662.88 126.73 112.58
2018-12-31 635.32 115.99 108.23
2018-09-30 611.86 105.26 99.04
2018-06-30 598.15 97.25 95.80
2018-03-31 583.18 92.37 91.77
2017-12-31 590.86 94.96 88.79
2017-09-30 562.98 88.17 82.53
2017-06-30 542.82 86.59 78.29
2017-03-31 523.52 82.98 76.30
2016-12-31 504.36 77.20 74.04
2016-09-30 520.52 83.87 74.30
2016-06-30 508.51 83.10 73.00
2016-03-31 516.13 88.43 71.74
2015-12-31 493.56 83.96 69.13
2015-09-30 467.14 76.78 66.83
2015-06-30 466.94 75.55 66.15
2015-03-31 438.23 66.99 62.73
2014-12-31 421.11 61.29 64.55
2014-09-30 410.54 57.01 65.17
2014-06-30 387.89 52.33 64.90
2014-03-31 374.16 52.82 61.83
2013-12-31 352.10 51.43 56.20
2013-09-30 317.29 48.41 53.94
2013-06-30 296.00 45.15 48.83
2013-03-31 281.20 42.90 45.98
2012-12-31 278.84 43.86 43.66
2012-09-30 258.14 36.88 38.87
2012-06-30 253.78 37.24 37.60

*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.
  • Whilst HFF made outstanding use of shareholders’ funds last year (Return on Equity greater than 40%), this is metric is skewed due to its high level of debt.
  • HFF used its assets less efficiently than the US Real Estate industry average last year based on Return on Assets.
  • Unable to establish if HFF improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess HFF'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.
HFF has a total score of 3/6, 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 HFF'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 HFF's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • HFF is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • HFF's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of HFF'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.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1.2x 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 HFF Company Filings, last reported 1 month ago.

NYSE:HF Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 305.50 1,008.22 235.21
2018-12-31 350.55 352.34 305.56
2018-09-30 299.69 636.56 239.56
2018-06-30 264.01 250.82 226.06
2018-03-31 233.65 959.18 191.08
2017-12-31 286.47 450.66 272.80
2017-09-30 247.64 734.59 221.81
2017-06-30 221.87 757.76 201.78
2017-03-31 197.59 842.20 175.78
2016-12-31 236.54 291.69 235.58
2016-09-30 205.62 825.31 191.80
2016-06-30 182.73 150.76 176.68
2016-03-31 163.68 516.44 143.54
2015-12-31 214.50 319.63 233.90
2015-09-30 177.92 86.71 178.56
2015-06-30 156.82 450.07 169.33
2015-03-31 133.33 604.99 142.49
2014-12-31 186.45 185.89 232.05
2014-09-30 157.91 190.55 160.71
2014-06-30 138.31 190.94 133.21
2014-03-31 123.77 77.35 104.81
2013-12-31 175.57 94.03 201.26
2013-09-30 152.56 7.15 159.27
2013-06-30 138.89 63.46 138.18
2013-03-31 125.19 211.70 108.19
2012-12-31 121.02 261.85 126.33
2012-09-30 157.33 232.44 152.32
2012-06-30 146.78 327.98 148.54
  • HFF's level of debt (330%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (63.4% vs 330% today).
  • Debt is not well covered by operating cash flow (16.8%, less than 20% of total debt).
  • Unable to confirm if the interest payments on HFF's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess HFF'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. HFF has a total score of 2/6, 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 HFF'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
3.94%
Current annual income from HFF dividends. Estimated to be 3.72% next year.
If you bought $2,000 of HFF shares you are expected to receive $79 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?
  • HFF's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
  • HFF's dividend is above the markets top 25% of dividend payers in United States of America (3.69%).
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
NYSE:HF 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 3 Analyst Estimates (S&P Global) See Below
United States of America Real Estate Industry Average Dividend Yield Market Cap Weighted Average of 16 Stocks 2.7%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2000 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 3.7%

Industry and Market average data is calculated daily.

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

NYSE:HF Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 1.60 1.00
2020-12-31 1.60 1.00
2019-12-31 1.75 1.00
NYSE:HF Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-02-01 1.750 3.826
2018-01-26 1.750 4.399
2017-01-24 1.570 4.436
2016-01-22 1.800 6.386
2015-01-20 1.800 4.925
2014-01-15 1.830 5.658

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

  • Whilst dividend payments have been stable, HFF has been paying a dividend for less than 10 years.
  • HFF has only been paying a dividend for 5 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of HFF's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as HFF has not reported any payouts.
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.7x coverage).
X
Income/ dividend checks
We assess HFF'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 HFF afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. HFF has a total score of 3/6, 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 HFF'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
Mark Gibson
COMPENSATION $3,561,988
AGE 59
TENURE AS CEO 5.1 years
CEO Bio

Mr. Mark D. Gibson became a Director and Vice Chairman of HFF, Inc. (the “Company”) in November 2006 and effective April 2014, he became the Chief Executive Officer of the Company. Mr. Gibson is one of the founding partners having joined the Company’s predecessor firm, Holliday Fenoglio & Company, in 1984. Since 2003, Mr. Gibson has held the positions of Executive Managing Director of HFF LP. From 1993 to 2010, Mr. Gibson served as co-head of the Company’s Dallas office. Mr. Gibson is a former trustee for the Urban Land Institute ("ULI"), a member of ULI’s IOPC Gold Council; member and current Program Chair of the Association of Foreign Investors in Real Estate (AFIRE); former chairman of the University of Texas Real Estate Finance and Investment Center; member of the board of visitors at UT Southwestern University Hospitals and Clinics; member of the McCombs School of Business Advisory Council at The University of Texas at Austin; advisory board member of Baylor Health Care System Foundation; Trustee and Member of the International Council of Shopping Centers (ICSC); and a member of World Presidents’ Organization. Mr. Gibson graduated in 1981 from the University of Texas at Austin with a B.B.A. in Finance.

CEO Compensation
  • Mark's compensation has been consistent with company performance over the past year.
  • Mark's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the HFF management team in years:

5.1
Average Tenure
58
Average Age
  • The average tenure for the HFF management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Mark Gibson

TITLE
Executive MD
COMPENSATION
$4M
AGE
59
TENURE
5.1 yrs

Jody Thornton

TITLE
Vice Chairman & President
AGE
57
TENURE
5.1 yrs

Greg Conley

TITLE
Chief Financial Officer
COMPENSATION
$2M
AGE
57
TENURE
12.6 yrs

Matthew Lawton

TITLE
Executive Managing Director
COMPENSATION
$5M
AGE
59
TENURE
5.1 yrs

Mike Tepedino

TITLE
Executive Managing Director
COMPENSATION
$4M
AGE
54
TENURE
3.3 yrs

Kevin MacKenzie

TITLE
Executive Managing Director
COMPENSATION
$4M
AGE
40
TENURE
1.3 yrs

Nancy Goodson

TITLE
COO & Secretary
COMPENSATION
$438K
AGE
60

Myra Moren

TITLE
Managing Director of Investor Relations

Kristen Murphy

TITLE
Director of Public Relations

John Pelusi

TITLE
Executive MD & Head of National Healthcare Practice
COMPENSATION
$2M
AGE
63
Board of Directors Tenure

Average tenure and age of the HFF board of directors in years:

9.6
Average Tenure
59
Average Age
  • The tenure for the HFF board of directors is about average.
Board of Directors

Mark Gibson

TITLE
Executive MD
COMPENSATION
$4M
AGE
59
TENURE
9.6 yrs

Jody Thornton

TITLE
Vice Chairman & President
AGE
57
TENURE
12.5 yrs

Lenore Sullivan

TITLE
Director
COMPENSATION
$170K
AGE
60
TENURE
12.3 yrs

George Miles

TITLE
Director
COMPENSATION
$170K
AGE
76
TENURE
12.3 yrs

Deborah McAneny

TITLE
Lead Independent Director
COMPENSATION
$190K
AGE
59
TENURE
9 yrs

Susan McGalla

TITLE
Director
COMPENSATION
$155K
AGE
53
TENURE
9.6 yrs

Steven Wheeler

TITLE
Director
COMPENSATION
$155K
AGE
71
TENURE
9.2 yrs

Morgan O'Brien

TITLE
Director
COMPENSATION
$155K
AGE
58
TENURE
6.6 yrs

John Fowler

TITLE
Director Emeritus
AGE
72
TENURE
7 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 HFF'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. HFF 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 HFF, Inc.'s (NYSE:HF) CEO Pay Matter?

This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … How Does Mark Gibson's Compensation Compare With Similar Sized Companies. … is worth US$1.8b, and total annual CEO compensation is US$5.2m.

Simply Wall St -

Should You Think About Buying HFF, Inc. (NYSE:HF) Now?

(NYSE:HF), which is in the real estate business, and is based in United States,. … saw a significant share price rise of over 20% in the past couple of months on the NYSE. … With many analysts covering the stock, we may expect any price-sensitive announcements have already been factored into the stock’s share price?

Simply Wall St -

How Does HFF, Inc. (NYSE:HF) Affect Your Portfolio Volatility?

Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. … Some investors use beta as a measure of how much a certain stock is impacted by 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 -

Are Insiders Selling HFF, Inc. (NYSE:HF) Stock?

But logic dictates you should pay some attention to whether insiders are buying or selling shares. … Over the last year, we can see that the biggest insider sale was by Director Emeritus John Fowler for US$1.2m worth of shares, at about US$49.13 per share … Although we don't gain confidence from insider selling, we note that this large sale was at well above current price of US$39.75

Simply Wall St -

Read This Before You Buy HFF, Inc. (NYSE:HF) Because Of Its P/E Ratio

This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … HFF has a price to earnings ratio of 12.6, based on the last twelve months. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Should You Be Impressed By HFF, Inc.'s (NYSE:HF) ROE?

This article is for those who would like to learn about Return On Equity (ROE). … One way to conceptualize this, is that for each $1 of shareholders' equity it has, the company made $0.35 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Is HFF Inc (NYSE:HF) Excessively Paying Its CEO?

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does Mark Gibson's Compensation Compare With Similar Sized Companies. … Our data indicates that HFF Inc is worth US$1.4b, and total annual CEO compensation is US$5.2m.

Simply Wall St -

Is HFF Inc (NYSE:HF) A Top Dividend Stock?

Dividends can be underrated but they form a large part of investment returns, playing an important role in compounding returns in the long run. … Historically, HFF Inc (NYSE:HF) has paid dividends to shareholders, and these days it yields 4.6%.

Simply Wall St -

HFF Inc (NYSE:HF): Will The Growth Last?

As HFF Inc (NYSE:HF) announced its earnings release on 30 September 2018, … with earnings expected to grow by 1.6% in the upcoming year … the higher past 5-year average growth rate of 14%.

Simply Wall St -

Why HFF Inc (NYSE:HF) Could Be Worth Watching

received a lot of attention from a substantial price movement on the NYSE over the last few months, increasing to $46.25 at one point, and dropping to the lows of $35.41. … A question to answer is whether HFF's current trading price of $35.41 reflective of the actual value of the? … Let’s take a look at HFF’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

Company Info

Description

HFF, Inc. provides commercial real estate and capital market services to the consumers and providers of capital in the commercial real estate industry in the United States. The company offers debt placement services, such as construction and construction/mini-permanent loans, adjustable and fixed rate mortgages, bridge loans, entity level and mezzanine debts, forward delivery loans, and tax exempt and sale/leaseback financing to the owners of various properties comprising office, retail, industrial, hotel, multi-housing, student housing, self-storage, nursing homes, condominiums and condominium conversions, mixed-use properties, and land, as well as senior, independent, and assisted living facilities. It also provides investment advisory services to commercial real estate owners; and equity placement, as well as assists clients in the sale of their commercial real estate debt note portfolios. In addition, the company offers private equity, investment banking, and advisory services, including equity capital to establish joint ventures relating to identified properties or properties to be acquired by a fund sponsor; structured finance; institutional marketing and fund-raising services for public and private commercial real estate fund sponsors; advisory services for mergers and acquisitions, sales and divestitures, management buyouts, and recapitalizations and restructurings; and private placements of preferred securities. Further, it provides loan sales and commercial loan servicing to life insurance companies. The company was founded in 1982 and is based in Dallas, Texas.

Details
Name: HFF, Inc.
HF
Exchange: NYSE
Founded: 1982
$1,768,576,157
39,823,827
Website: http://www.hfflp.com
Address: HFF, Inc.
One Victory Park,
Suite 1200,
Dallas,
Texas, 75219,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE HF Class A Common Stock New York Stock Exchange US USD 31. Jan 2007
DB H2L Class A Common Stock Deutsche Boerse AG DE EUR 31. Jan 2007
Number of employees
Current staff
Staff numbers
1,080
HFF employees.
Industry
Real Estate Services
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/20 02:07
End of day share price update: 2019/05/17 00:00
Last estimates confirmation: 2019/05/15
Last earnings filing: 2019/05/07
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


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.