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InfraREIT (REIT)

NYSE:HIFR
Snowflake Description

Undervalued with solid track record.

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

InfraREIT is engaged in owning and leasing rate-regulated electric transmission assets in the state of Texas and is structured as a real estate investment trust. The last earnings update was 14 days ago. More info.


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HIFR Share Price and Events
7 Day Returns
0.2%
NYSE:HIFR
0.2%
US REITs
-3.9%
US Market
1 Year Returns
0%
NYSE:HIFR
13%
US REITs
1.4%
US Market
HIFR Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
InfraREIT (REIT) (HIFR) 0.2% 0.4% -0.1% 0% 25.3% -
US REITs 0.2% -1.4% 3.2% 13% 8.8% 24%
US Market -3.9% -3.6% 1.8% 1.4% 35.8% 40.8%
1 Year Return vs Industry and Market
  • HIFR underperformed the REITs industry which returned 13% over the past year.
  • HIFR underperformed the Market in United States of America which returned 1.4% over the past year.
Price Volatility
HIFR
Industry
5yr Volatility vs Market

Value

 Is InfraREIT (REIT) 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 InfraREIT (REIT) 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 InfraREIT (REIT).

NYSE:HIFR Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Funds From Operations
Levered Funds From Operations Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.1%
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:HIFR
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.53
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.531 (1 + (1- 21%) (73.75%))
0.893
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.89
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.893 * 5.96%)
8.06%

Discounted Cash Flow Calculation for NYSE:HIFR using 2 Stage Free Cash Flow to Equity using Funds From Operations Model

The calculations below outline how an intrinsic value for InfraREIT (REIT) 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.

InfraREIT (REIT) is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

NYSE:HIFR DCF 1st Stage: Next 10 year cash flow forecast
Funds From Operations (FFO) (USD, Millions) Source Present Value
Discounted (@ 8.06%)
2019 139.92 Est @ 3.8% 129.49
2020 144.79 Est @ 3.48% 124.01
2021 149.51 Est @ 3.26% 118.50
2022 154.14 Est @ 3.1% 113.07
2023 158.75 Est @ 2.99% 107.76
2024 163.37 Est @ 2.91% 102.63
2025 168.03 Est @ 2.86% 97.70
2026 172.77 Est @ 2.82% 92.96
2027 177.59 Est @ 2.79% 88.43
2028 182.52 Est @ 2.77% 84.11
Present value of next 10 years cash flows $1,058.67
NYSE:HIFR DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $182.52 × (1 + 2.73%) ÷ (8.06% – 2.73%)
$3,520.98
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $3,520.98 ÷ (1 + 8.06%)10
$1,622.58
NYSE:HIFR Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,058.67 + $1,622.58
$2,681.25
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $2,681.25 / 60.71
$44.15
NYSE:HIFR Discount to Share Price
Calculation Result
Value per share (USD) From above. $44.15
Current discount Discount to share price of $21.12
= -1 x ($21.12 - $44.15) / $44.15
52.2%

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

Current Discount
Amount off the current price InfraREIT (REIT) is available for.
Intrinsic value
>50%
Share price is $21.12 vs Future cash flow value of $44.15
Current Discount Checks
For InfraREIT (REIT) to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • InfraREIT (REIT)'s share price is below the future cash flow value, and at a moderate discount (> 20%).
  • InfraREIT (REIT)'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 InfraREIT (REIT)'s earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are InfraREIT (REIT)'s earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:HIFR PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $1.42
NYSE:HIFR Share Price ** NYSE (2019-05-15) in USD $21.12
United States of America REITs Industry PE Ratio Median Figure of 155 Publicly-Listed REITs Companies 32.37x
United States of America Market PE Ratio Median Figure of 3,087 Publicly-Listed Companies 17.79x

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

** Primary Listing of InfraREIT (REIT).

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

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

= 21.12 ÷ 1.42

14.85x

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

  • InfraREIT (REIT) is good value based on earnings compared to the US REITs industry average.
  • InfraREIT (REIT) is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does InfraREIT (REIT)'s expected growth come at a high price?
Raw Data
NYSE:HIFR PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 14.85x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
-1.3%per year
United States of America REITs Industry PEG Ratio Median Figure of 141 Publicly-Listed REITs Companies 1.91x
United States of America Market PEG Ratio Median Figure of 2,113 Publicly-Listed Companies 1.52x

*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 InfraREIT (REIT), we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on InfraREIT (REIT)'s assets?
Raw Data
NYSE:HIFR PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $15.45
NYSE:HIFR Share Price * NYSE (2019-05-15) in USD $21.12
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.86x
United States of America Market PB Ratio Median Figure of 5,195 Publicly-Listed Companies 1.83x
NYSE:HIFR PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 21.12 ÷ 15.45

1.37x

* Primary Listing of InfraREIT (REIT).

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

  • InfraREIT (REIT) is good value based on assets compared to the US REITs industry average.
X
Value checks
We assess InfraREIT (REIT)'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 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 REITs industry average (and greater than 0)? (1 check)
  5. InfraREIT (REIT) has a total score of 5/6, 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 InfraREIT (REIT) expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

  • No analysts cover InfraREIT (REIT), 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
-1.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is InfraREIT (REIT) expected to grow at an attractive rate?
  • InfraREIT (REIT)'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
  • InfraREIT (REIT)'s earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • InfraREIT (REIT)'s revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:HIFR Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:HIFR Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts -1.3%
NYSE:HIFR Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 6.1%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 5.2%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14%
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:HIFR Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:HIFR Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31
2020-12-31 226 1
2019-12-31 211 1
NYSE:HIFR Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 203 127 63
2018-12-31 200 125 62
2018-09-30 201 128 26
2018-06-30 204 127 27
2018-03-31 196 123 17
2017-12-31 190 118 12
2017-09-30 187 119 51
2017-06-30 185 119 52
2017-03-31 178 120 52
2016-12-31 172 123 50
2016-09-30 168 121 50
2016-06-30 160 115 47

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • InfraREIT (REIT)'s earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • InfraREIT (REIT)'s revenue is expected to grow by 6.1% 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:HIFR 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 1 Analyst Estimates (S&P Global) See Below

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

NYSE:HIFR Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31
2020-12-31
2019-12-31
NYSE:HIFR Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 1.42
2018-12-31 1.40
2018-09-30 0.60
2018-06-30 0.62
2018-03-31 0.39
2017-12-31 0.28
2017-09-30 1.16
2017-06-30 1.19
2017-03-31 1.18
2016-12-31 1.14
2016-09-30 1.14
2016-06-30 1.07

*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 InfraREIT (REIT) will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess InfraREIT (REIT)'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.
InfraREIT (REIT) 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 InfraREIT (REIT) 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 InfraREIT (REIT)'s growth in the last year to its industry (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.
  • InfraREIT (REIT)'s year on year earnings growth rate has been positive over the past 5 years.
  • InfraREIT (REIT)'s 1-year earnings growth exceeds its 5-year average (263.3% vs 18.6%)
  • InfraREIT (REIT)'s earnings growth has exceeded the US REITs industry average in the past year (263.3% vs 16%).
Earnings and Revenue History
InfraREIT (REIT)'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 InfraREIT (REIT) Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:HIFR Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 203.27 62.55 31.96
2018-12-31 200.35 61.67 30.97
2018-09-30 201.09 26.18 25.33
2018-06-30 203.78 27.24 25.26
2018-03-31 196.37 17.22 25.50
2017-12-31 190.34 12.30 25.39
2017-09-30 186.89 50.58 25.56
2017-06-30 184.70 52.29 24.17
2017-03-31 178.06 51.59 22.29
2016-12-31 172.10 49.95 21.85
2016-09-30 167.79 49.77 21.17
2016-06-30 159.82 46.70 21.67
2016-03-31 155.50 46.46 21.42
2015-12-31 151.20 13.27 19.38
2015-09-30 145.33 -3.62 18.13
2015-06-30 143.18 -5.69 18.43
2015-03-31 138.95 -7.82 16.99
2014-12-31 134.42 22.90 16.90
2014-09-30 119.20 29.96 16.27
2014-06-30 103.34 29.22 13.83
2014-03-31 89.91 31.61 13.46
2013-12-31 73.19 32.12 13.69
2012-12-31 42.78 12.42 12.52

*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.
  • InfraREIT (REIT) has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • InfraREIT (REIT) used its assets more efficiently than the US REITs industry average last year based on Return on Assets.
  • InfraREIT (REIT) has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess InfraREIT (REIT)'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 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.
InfraREIT (REIT) has a total score of 5/6, 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 InfraREIT (REIT)'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 InfraREIT (REIT)'s finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • InfraREIT (REIT)'s short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • InfraREIT (REIT)'s long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of InfraREIT (REIT)'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 InfraREIT (REIT) Company Filings, last reported 1 month ago.

NYSE:HIFR Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 929.77 945.97 3.49
2018-12-31 925.87 953.75 1.81
2018-09-30 917.18 944.36 3.22
2018-06-30 912.53 944.94 2.10
2018-03-31 903.59 943.00 1.62
2017-12-31 900.86 950.52 2.87
2017-09-30 941.22 946.52 4.19
2017-06-30 935.00 913.48 9.66
2017-03-31 939.90 877.42 2.62
2016-12-31 943.91 854.84 17.61
2016-09-30 931.11 811.72 11.03
2016-06-30 922.44 769.59 10.81
2016-03-31 928.18 722.92 13.42
2015-12-31 934.27 678.73 9.47
2015-09-30 920.19 635.37 29.73
2015-06-30 914.21 620.19 50.50
2015-03-31 918.81 624.98 86.52
2014-12-31 585.45 848.76 15.61
2014-09-30 897.36 634.51 150.92
2014-06-30 579.37 795.63 28.91
2014-03-31 573.69 774.14 29.48
2013-12-31 564.19 708.53 7.75
2012-12-31 348.78 475.04 16.44
  • InfraREIT (REIT)'s level of debt (101.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (135% vs 101.7% today).
  • Debt is not well covered by operating cash flow (13.4%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 3x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess InfraREIT (REIT)'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. InfraREIT (REIT) 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 InfraREIT (REIT)'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
4.73%
Current annual income from InfraREIT (REIT) dividends.
If you bought $2,000 of InfraREIT (REIT) shares you are expected to receive $95 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?
  • InfraREIT (REIT)'s pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.46%).
  • InfraREIT (REIT)'s dividend is above the markets top 25% of dividend payers in United States of America (3.71%).
Upcoming dividend payment

Purchase InfraREIT (REIT) before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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:HIFR 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 1 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 184 Stocks 3.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1997 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 3.7%

Industry and Market average data is calculated daily.

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

NYSE:HIFR Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31
2020-12-31
2019-12-31
NYSE:HIFR Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-02-26 1.000 4.725
2018-12-07 1.000 4.735
2018-09-07 1.000 4.702
2018-06-01 1.000 4.695
2018-02-27 1.000 4.934
2017-12-01 1.000 5.258
2017-09-01 1.000 4.525
2017-06-02 1.000 4.876
2017-02-27 1.000 5.493
2016-12-02 1.000 5.829
2016-09-01 1.000 5.729
2016-06-03 1.000 5.712
2016-03-02 1.000 5.964
2015-12-04 0.900 4.702
2015-09-03 0.900 3.790
2015-06-05 0.900 2.949
2015-03-06 0.900 3.039

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

  • Whilst dividend payments have been stable, InfraREIT (REIT) has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but InfraREIT (REIT) only paid a dividend in the past 4 years.
Current Payout to shareholders
What portion of InfraREIT (REIT)'s earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.2x coverage).
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 InfraREIT (REIT)'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 InfraREIT (REIT) afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. InfraREIT (REIT) 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 InfraREIT (REIT)'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
David Campbell
COMPENSATION $0
AGE 50
TENURE AS CEO 4.8 years
CEO Bio

Mr. David A. Campbell has been President & Chief Executive Officer of InfraREIT Inc. (REIT) since August 2014 and its Board Member since September 2014. Mr. Campbell serves as President and Chief Executive Officer of Hunt Utility Services, LLC and Sharyland Utilites, L.P. He was President and Chief Operating Officer of Bluescape Resources, an independent resource and investment company based in Dallas, Texas. From mid-2008 through 2012, Mr. Campbell served as Chief Executive Officer of Luminant, a competitive power generation subsidiary of Energy Future Holdings (“EFH”) (previously TXU Corp.). Mr. Campbell originally joined TXU Corp. in 2004 as Executive Vice President of Corporate Planning, Strategy and Risk and became Chief Financial Officer of TXU Corp. in early 2006. Before TXU Corp., Mr. Campbell was a Principal in the Dallas office of McKinsey & Company, where he led the Texas and Southern Region hubs of McKinsey’s corporate finance and strategy practice. From 2010 to 2012, Mr. Campbell served as a Board Member for the National Nuclear Accrediting Board and the Electric Power Research Institute. He has been President & Chief Executive Officer of InfraREIT Inc. since August 2014 and its Board Member since September 2014. Mr. Campbell earned a Bachelor of Arts from Yale University and a Juris Doctorate from Harvard Law School. Also, he graduated with a Master’s degree from Oxford University, where he studied as a Rhodes Scholar.

CEO Compensation
  • Insufficient data for David to compare compensation growth.
  • Insufficient data for David 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 InfraREIT (REIT) management team in years:

4.7
Average Tenure
48.5
Average Age
  • The tenure for the InfraREIT (REIT) management team is about average.
Management Team

David Campbell

TITLE
President
AGE
50
TENURE
4.8 yrs

Brant Meleski

TITLE
Senior VP & CFO
AGE
47
TENURE
4.7 yrs

Brook Wootton

TITLE
Vice President

Stacey Doré

TITLE
Senior VP & General Counsel
AGE
45
TENURE
2.5 yrs

Greg Imhoff

TITLE
VP, General Tax Counsel & Corporate Secretary
AGE
61
Board of Directors Tenure

Average tenure and age of the InfraREIT (REIT) board of directors in years:

4.3
Average Tenure
60
Average Age
  • The tenure for the InfraREIT (REIT) board of directors is about average.
Board of Directors

Hal Logan

TITLE
Chairman of the Board
COMPENSATION
$205K
AGE
74
TENURE
1.3 yrs

David Campbell

TITLE
President
AGE
50
TENURE
4.7 yrs

Storrow Gordon

TITLE
Independent Director
COMPENSATION
$183K
AGE
65
TENURE
4.3 yrs

Ellen Wolf

TITLE
Independent Director
COMPENSATION
$189K
AGE
64
TENURE
4.3 yrs

Hunter Hunt

TITLE
Director
AGE
49
TENURE
5.7 yrs

John Gates

TITLE
Independent Director
COMPENSATION
$164K
AGE
53
TENURE
4.3 yrs

Trudy Harper

TITLE
Independent Director
COMPENSATION
$158K
AGE
56
TENURE
4.3 yrs

Harvey Rosenblum

TITLE
Independent Director
COMPENSATION
$164K
AGE
75
TENURE
4.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess InfraREIT (REIT)'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. InfraREIT (REIT) 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

What Do Analysts Think About The Future Of InfraREIT Inc (REIT)'s (NYSE:HIFR)?

After InfraREIT Inc (REIT)'s (NYSE:HIFR) earnings announcement in June 2018, … with earnings expected to more than double in the upcoming year, … 5-year average growth rate of 13.7%.

Simply Wall St -

Why You Shouldn't Look At InfraREIT Inc (REIT)'s (NYSE:HIFR) Bottom Line

InfraREIT Inc (REIT) is a US$1.30b. … real estate investment trust (REIT) based in Dallas, United States. … Check out our latest analysis for InfraREIT (REIT)

Simply Wall St -

Company Info

Description

InfraREIT is engaged in owning and leasing rate-regulated electric transmission assets in the state of Texas and is structured as a real estate investment trust. The Company is externally managed by Hunt Utility Services, LLC, an affiliate of Hunt Consolidated, Inc. (a diversified holding company based in Dallas, Texas, and managed by the Ray L. Hunt family). The Company's shares are traded on the New York Stock Exchange under the symbol "HIFR."

Details
Name: InfraREIT, Inc. (REIT)
HIFR
Exchange: NYSE
Founded: 2001
$1,282,704,468
$929,393,414
60,705,370
Website: http://www.InfraREITInc.com
Address: InfraREIT, Inc. (REIT)
1900 North Akard Street,
Dallas,
Texas, 75201,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE HIFR Common Stock New York Stock Exchange US USD 30. Jan 2015
Number of employees
Current staff
Staff numbers
0
InfraREIT (REIT) employees.
Industry
Specialized REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/16 02:41
End of day share price update: 2019/05/15 00:00
Last estimates confirmation: 2019/05/13
Last earnings filing: 2019/05/02
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.