NYSE:RVI

Stock Analysis Report

Executive Summary

RVI is an independent publicly traded company trading under the ticker symbol “RVI” on the New York Stock Exchange.


Snowflake Analysis

Undervalued second-rate dividend payer.

Share Price & News

How has Retail Value's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: RVI has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-4.7%

RVI

-4.7%

US REITs

-7.6%

US Market


1 Year Return

1.7%

RVI

11.6%

US REITs

10.2%

US Market

Return vs Industry: RVI underperformed the US REITs industry which returned 12.8% over the past year.

Return vs Market: RVI underperformed the US Market which returned 10.5% over the past year.


Shareholder returns

RVIIndustryMarket
7 Day-4.7%-4.7%-7.6%
30 Day-5.8%-1.5%-4.5%
90 Day-10.9%0.9%-0.6%
1 Year7.4%1.7%16.1%11.6%12.5%10.2%
3 Yearn/a31.7%15.3%37.1%28.3%
5 Yearn/a52.7%21.3%60.8%43.2%

Price Volatility Vs. Market

How volatile is Retail Value's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Retail Value undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: RVI ($32.2) is trading below our estimate of fair value ($166.48)

Significantly Below Fair Value: RVI is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: RVI is good value based on its PE Ratio (6.8x) compared to the REITs industry average (36.3x).

PE vs Market: RVI is good value based on its PE Ratio (6.8x) compared to the US market (17.2x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: RVI is good value based on its PB Ratio (0.8x) compared to the US REITs industry average (2x).


Next Steps

Future Growth

How is Retail Value forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

-35.9%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if RVI's forecast earnings growth is above the savings rate (1.7%).

Earnings vs Market: Insufficient data to determine if RVI's earnings are forecast to grow faster than the US market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: RVI's revenue is expected to decline over the next 3 years (-35.9% per year).

High Growth Revenue: RVI's revenue is forecast to decline over the next 3 years (-35.9% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: RVI is forecast to be unprofitable in 3 years.


Next Steps

Past Performance

How has Retail Value performed over the past 5 years?

32.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: RVI has a large one-off gain of $75.1M impacting its September 30 2019 financial results.

Growing Profit Margin: RVI became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: RVI has become profitable over the past 5 years, growing earnings by 32.8% per year.

Accelerating Growth: RVI has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: RVI has become profitable in the last year, making it difficult to compare its past year earnings growth to the REITs industry (5.9%).


Return on Equity

High ROE: RVI's Return on Equity (9.3%) is considered low.


Next Steps

Financial Health

How is Retail Value's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: RVI has a high level of physical assets or inventory.

Debt Coverage by Assets: RVI's debt is not covered by short term assets (assets are 0.3x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: RVI is profitable, therefore cash runway is not a concern.

Forecast Cash Runway: RVI is profitable, therefore cash runway is not a concern.


Financial Institutions Analysis

Asset Level: RVI's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if RVI has a sufficient allowance for bad loans.

Low Risk Liabilities: RVI reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if RVI has an acceptable proportion of non-loan assets held.

Low Risk Deposits: RVI has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if RVI has an appropriate level of bad loans.


Next Steps

Dividend

What is Retail Value's current dividend yield, its reliability and sustainability?

6.48%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: RVI's dividend (6.37%) is higher than the bottom 25% of dividend payers in the US market (1.52%).

High Dividend: RVI's dividend (6.37%) is in the top 25% of dividend payers in the US market (3.9%)


Stability and Growth of Payments

Stable Dividend: Too early to tell whether RVI's dividend payments have been stable as they only just started paying a dividend.

Growing Dividend: Too early to tell if RVI's dividend payments are increasing as they only just started paying a dividend.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (4.5%), RVI's dividend payments are thoroughly covered by earnings.


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.


Next Steps

Management

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

2.0yrs

Average management tenure


CEO

David Lukes (49yo)

2yrs

Tenure

Mr. David R. Lukes has been the Chief Executive Officer and President of SITE Centers Corp. since March 2, 2017. Mr. Lukes has been Chief Executive Officer and President of Retail Value Inc. since February ...


Leadership Team

NamePositionTenureCompensationOwnership
David Lukes
President2yrsno data0.073% $442.1k
Christa Vesy
Executive VP0.3yrsno data0.024% $143.6k
Michael Makinen
Executive VP & COO2yrsno data0.0057% $34.3k
John Cattonar
Senior Vice President of Investments0yrsno datano data
Kim Scharf
Senior Vice President of Technology0yrsno datano data
Eric Cotton
Deputy General Counsel & Corporate Compliance Officer0yrsno datano data
Joseph Chura
Senior Vice President of Construction Management0yrsno datano data
Conor Fennerty
Senior Vice President of Capital Markets0yrsno datano data
Joseph Lopez
Senior Vice President of Operations0yrsno datano data
Rob McGovern
Senior Vice President of Leasing0yrsno datano data

2.0yrs

Average Tenure

49yo

Average Age

Experienced Management: RVI's management team is considered experienced (2 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
David Lukes
President2yrsno data0.073% $442.1k
Barry Sholem
Independent Director1.6yrsUS$326.28k0.035% $212.6k
Scott Roulston
Chairman of the Board1.6yrsUS$365.03k0.015% $88.0k
Gary Boston
Independent Director1.6yrsUS$331.28k0.018% $110.2k
Henrie Koetter
Independent Director1.6yrsUS$303.41k0.015% $89.6k

1.6yrs

Average Tenure

51yo

Average Age

Experienced Board: RVI's board of directors are not considered experienced ( 1.6 years average tenure), which suggests a new board.


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.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 2.1%.


Top Shareholders

Company Information

Retail Value Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Retail Value Inc.
  • Ticker: RVI
  • Exchange: NYSE
  • Founded:
  • Industry: Retail REITs
  • Sector: Real Estate
  • Market Cap: US$603.000m
  • Shares outstanding: 19.05m
  • Website: https://retailvalueinc.com

Location

  • Retail Value Inc.
  • 3300 Enterprise Parkway
  • Beachwood
  • Ohio
  • 44122
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
RVINYSE (New York Stock Exchange)YesCommon SharesUSUSDJun 2018

Biography

RVI is an independent publicly traded company trading under the ticker symbol “RVI” on the New York Stock Exchange. RVI holds assets in the continental U.S. and Puerto Rico and is managed by one or more subsidiaries of SITE Centers Corp. RVI focuses on realizing value in its business through operations and sales of its assets. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/27 03:09
End of Day Share Price2020/02/26 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


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.