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alstria office REIT-AG

OTCPK:ALSR.F
Snowflake Description

Proven track record average dividend payer.

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

Alstria office REIT-AG is an internally managed Real Estate Investment Trust (REIT) focused solely on acquiring, owning and managing office real estate in Germany. The last earnings update was 6 days ago. More info.


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ALSR.F Share Price and Events
7 Day Returns
0%
OTCPK:ALSR.F
3.4%
US REITs
1.6%
US Market
1 Year Returns
-
OTCPK:ALSR.F
-1.9%
US REITs
12.4%
US Market
ALSR.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
alstria office REIT-AG (ALSR.F) 0% 0% - - - -
US REITs 3.4% 5.7% 0% -1.9% 18.1% 45.6%
US Market 1.6% 2.3% -2.2% 12.4% 55.2% 105.4%
1 Year Return vs Industry and Market
  • No trading data on ALSR.F.
  • No trading data on ALSR.F.
Price Volatility
ALSR.F
Industry
5yr Volatility vs Market

ALSR.F Value

 Is alstria office REIT-AG 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 alstria office REIT-AG 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 alstria office REIT-AG.

OTCPK:ALSR.F 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 11 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.6%
Perpetual Growth Rate 10-Year US Government Bond Rate 3%

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 OTCPK:ALSR.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 3%
Equity Risk Premium S&P Global 7.1%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.48
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.476 (1 + (1- 30%) (63.1%))
0.687
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.95% + (0.8 * 7.05%)
8.59%

Discounted Cash Flow Calculation for OTCPK:ALSR.F using 2 Stage Free Cash Flow to Equity using Funds From Operations Model

The calculations below outline how an intrinsic value for alstria office REIT-AG is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

alstria office REIT-AG 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.

OTCPK:ALSR.F DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Funds From Operations (FFO) (EUR, Millions) 121.66 126.21 124.70 127.32 146.59
Source Analyst x8 Analyst x7 Analyst x1 Analyst x1 Est @ 15.13%
Present Value
Discounted (@ 8.59%)
112.04 107.03 97.39 91.57 97.08
Present value of next 5 years cash flows €505.11
OTCPK:ALSR.F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= €146.59 × (1 + 2.95%) ÷ (8.59% – 2.95%)
€2,675.75
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= €2,675.75 ÷ (1 + 8.59%)5
€1,772.13
OTCPK:ALSR.F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= €505.11 + €1,772.13
€2,277.24
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €2,277.24 / 177.42
€16.47
OTCPK:ALSR.F Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:ALSR.F represents 1.20613x of XTRA:AOX
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.20613x
Value per Share
(Listing Adjusted, USD)
= Value per Share (EUR) x Listing Adjustment Factor
= € 13.65 x 1.20613
$16.47
Value per share (USD) From above. $16.47
Current discount Discount to share price of $15.08
= -1 x ($15.08 - $16.47) / $16.47
8.4%

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

Current Discount
Amount off the current price alstria office REIT-AG is available for.
Intrinsic value
8%
Share price is $15.08 vs Future cash flow value of $16.47
Current Discount Checks
For alstria office REIT-AG to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • alstria office REIT-AG's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • alstria office REIT-AG's share price is below the future cash flow value, but not 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 alstria office REIT-AG's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are alstria office REIT-AG's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:ALSR.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in EUR €1.64
XTRA:AOX Share Price ** XTRA (2018-08-14) in EUR €12.5
United States of America REITs Industry PE Ratio Median Figure of 155 Publicly-Listed REITs Companies 29.46x
United States of America Market PE Ratio Median Figure of 2,971 Publicly-Listed Companies 18.17x

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

** Primary Listing of alstria office REIT-AG.

OTCPK:ALSR.F PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= XTRA:AOX Share Price ÷ EPS (both in EUR)

= 12.5 ÷ 1.64

7.61x

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

  • alstria office REIT-AG is good value based on earnings compared to the US REITs industry average.
  • alstria office REIT-AG is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does alstria office REIT-AG's expected growth come at a high price?
Raw Data
OTCPK:ALSR.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.61x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts
-27%per year
United States of America REITs Industry PEG Ratio Median Figure of 143 Publicly-Listed REITs Companies 0.9x
United States of America Market PEG Ratio Median Figure of 2,086 Publicly-Listed Companies 1.27x

*Line of best fit is calculated by linear regression .

OTCPK:ALSR.F PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 7.61x ÷ -27%

-0.28x

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

  • alstria office REIT-AG 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 alstria office REIT-AG's assets?
Raw Data
OTCPK:ALSR.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in EUR €12.69
XTRA:AOX Share Price * XTRA (2018-08-14) in EUR €12.5
United States of America REITs Industry PB Ratio Median Figure of 192 Publicly-Listed REITs Companies 1.72x
United States of America Market PB Ratio Median Figure of 4,972 Publicly-Listed Companies 1.88x
OTCPK:ALSR.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= XTRA:AOX Share Price ÷ Book Value per Share (both in EUR)

= 12.5 ÷ 12.69

0.99x

* Primary Listing of alstria office REIT-AG.

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

  • alstria office REIT-AG is good value based on assets compared to the US REITs industry average.
X
Value checks
We assess alstria office REIT-AG'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. alstria office REIT-AG has a total score of 3/6, 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.

ALSR.F Future Performance

 How is alstria office REIT-AG expected to perform in the next 1 to 3 years based on estimates from 11 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
-27%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is alstria office REIT-AG expected to grow at an attractive rate?
  • alstria office REIT-AG's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 3%.
Growth vs Market Checks
  • alstria office REIT-AG's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • alstria office REIT-AG's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:ALSR.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:ALSR.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts -27%
OTCPK:ALSR.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 11 Analysts 2%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average -0.4%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.4%
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
OTCPK:ALSR.F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:ALSR.F Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 196 88 1
2021-12-31 193 84 1
2020-12-31 212 135 173 9
2019-12-31 204 133 174 11
2018-12-31 194 119 355 11
OTCPK:ALSR.F Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-09-30 204 113 280
2018-06-30 203 123 281
2018-03-31 226 127 298
2017-12-31 222 122 297
2017-09-30 245 123 210
2017-06-30 244 126 203
2017-03-31 216 116 194
2016-12-31 208 120 177
2016-09-30 201 103 -57
2016-06-30 172 74 -73
2016-03-31 145 62 -86
2015-12-31 117 46 -111

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • alstria office REIT-AG's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • alstria office REIT-AG's revenue is expected to grow by 2% 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
OTCPK:ALSR.F 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 11 Analyst Estimates (S&P Global) See Below

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

OTCPK:ALSR.F Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 0.49 0.49 0.49 1.00
2021-12-31 0.47 0.47 0.47 1.00
2020-12-31 1.05 1.42 0.83 8.00
2019-12-31 1.03 1.51 0.73 9.00
2018-12-31 2.01 2.33 1.70 2.00
OTCPK:ALSR.F Past Financials Data
Date (Data in EUR Millions) EPS *
2018-09-30 1.64
2018-06-30 1.73
2018-03-31 1.91
2017-12-31 1.94
2017-09-30 1.38
2017-06-30 1.32
2017-03-31 1.27
2016-12-31 1.16
2016-09-30 -0.39
2016-06-30 -0.56
2016-03-31 -0.75
2015-12-31 -1.15

*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.
  • alstria office REIT-AG is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess alstria office REIT-AG'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.
alstria office REIT-AG 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.

ALSR.F Past Performance

  How has alstria office REIT-AG 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 alstria office REIT-AG'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.
  • alstria office REIT-AG has delivered over 20% year on year earnings growth in the past 5 years.
  • alstria office REIT-AG's 1-year earnings growth is less than its 5-year average (32.9% vs 49.4%)
  • alstria office REIT-AG's earnings growth has exceeded the US REITs industry average in the past year (32.9% vs 13.9%).
Earnings and Revenue History
alstria office REIT-AG'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 alstria office REIT-AG Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:ALSR.F Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 204.23 279.75 23.77
2018-06-30 203.01 280.93 23.19
2018-03-31 225.68 298.44 23.11
2017-12-31 221.80 296.99 21.86
2017-09-30 244.95 210.43 19.80
2017-06-30 243.81 202.63 19.43
2017-03-31 216.29 193.75 20.14
2016-12-31 208.14 176.87 21.15
2016-09-30 200.93 -56.91 22.41
2016-06-30 172.14 -73.21 20.55
2016-03-31 144.92 -86.42 18.42
2015-12-31 117.33 -110.97 17.25
2015-09-30 110.77 42.15 15.09
2015-06-30 110.91 45.45 15.14
2015-03-31 112.06 22.40 13.50
2014-12-31 114.58 36.95 12.56
2014-09-30 103.40 33.73 12.81
2014-06-30 104.32 16.48 13.70
2014-03-31 104.64 27.96 13.75
2013-12-31 104.50 38.95 13.12
2013-09-30 102.95 31.47 12.96
2013-06-30 103.43 47.23 12.18
2013-03-31 103.14 44.68 12.47
2012-12-31 100.55 39.91 12.57
2012-09-30 112.89 32.39 12.57
2012-06-30 109.54 30.35 11.98
2012-03-31 106.23 27.81 11.94
2011-12-31 103.86 27.45 13.14

*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.
  • alstria office REIT-AG has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • alstria office REIT-AG used its assets more efficiently than the US REITs industry average last year based on Return on Assets.
  • alstria office REIT-AG has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess alstria office REIT-AG'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.
alstria office REIT-AG has a total score of 4/6, 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.

ALSR.F Health

 How is alstria office REIT-AG'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 alstria office REIT-AG's finances.

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

OTCPK:ALSR.F Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 2,250.77 1,399.48 161.76
2018-06-30 2,218.42 1,390.98 178.14
2018-03-31 2,278.23 1,395.05 265.59
2017-12-31 1,954.66 1,468.42 102.08
2017-09-30 1,761.50 1,502.02 59.64
2017-06-30 1,728.06 1,494.57 51.80
2017-03-31 1,759.60 1,471.16 275.99
2016-12-31 1,728.44 1,485.85 247.49
2016-09-30 1,699.78 1,787.92 231.63
2016-06-30 1,673.14 1,780.60 165.74
2016-03-31 1,672.49 1,749.86 112.64
2015-12-31 1,657.66 2,092.37 428.22
2015-09-30 932.27 856.23 92.28
2015-06-30 922.24 877.55 123.08
2015-03-31 938.74 880.53 163.49
2014-12-31 846.59 887.93 63.15
2014-09-30 827.65 899.55 55.01
2014-06-30 814.39 901.49 49.86
2014-03-31 849.84 891.37 81.87
2013-12-31 844.11 913.00 83.17
2013-09-30 827.27 924.02 69.48
2013-06-30 828.86 964.87 157.16
2013-03-31 849.70 925.50 131.74
2012-12-31 829.29 933.92 118.70
2012-09-30 819.62 892.96 69.83
2012-06-30 810.54 891.63 61.21
2012-03-31 836.84 898.68 153.14
2011-12-31 768.20 899.35 95.74
  • alstria office REIT-AG's level of debt (62.2%) 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 (111.7% vs 62.2% today).
  • Debt is not well covered by operating cash flow (8.1%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.8x coverage).
X
Financial health checks
We assess alstria office REIT-AG'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. alstria office REIT-AG has a total score of 3/6, 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.

ALSR.F Dividends

 What is alstria office REIT-AG'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
4.16%
Current annual income from alstria office REIT-AG dividends. Estimated to be 4.4% next year.
If you bought $2,000 of alstria office REIT-AG shares you are expected to receive $83 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?
  • alstria office REIT-AG's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.37%).
  • alstria office REIT-AG's dividend is above the markets top 25% of dividend payers in United States of America (3.5%).
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
OTCPK:ALSR.F 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 11 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 182 Stocks 4.2%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1977 Stocks 2.4%
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 3.5%

Industry and Market average data is calculated daily.

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

OTCPK:ALSR.F Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 0.57 1.00
2021-12-31 0.58 3.00
2020-12-31 0.57 12.00
2019-12-31 0.54 14.00
2018-12-31 0.52 9.00
OTCPK:ALSR.F Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2018-03-02 0.520 4.076
2017-03-03 0.520 4.245
2016-08-08 0.500 4.239
2016-03-30 0.500 4.117
2015-02-26 0.500 4.132
2015-02-13 0.500 4.098
2014-05-15 0.500 4.963
2013-02-15 0.500 5.385
2013-01-15 0.500 5.420
2012-08-07 0.440 4.807
2012-02-21 0.440 5.330
2012-02-15 0.440 4.973
2011-08-08 0.440 5.046
2011-05-05 0.440 4.230
2011-02-23 0.440 4.214
2010-03-01 0.500 5.542
2009-06-11 0.520 7.342
2008-11-19 0.520 12.055
2008-11-12 0.520 15.033

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

  • Dividends per share have been stable in the past 10 years.
  • No dividend growth in 10 years.
Current Payout to shareholders
What portion of alstria office REIT-AG's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (223.2x coverage).
X
Income/ dividend checks
We assess alstria office REIT-AG'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 alstria office REIT-AG afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. alstria office REIT-AG has a total score of 4/6, see the detailed checks below.


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

ALSR.F Management

 What is the CEO of alstria office REIT-AG'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
Olivier Elamine
COMPENSATION €704,000
AGE 46
TENURE AS CEO 12 years
CEO Bio

Mr. Olivier Elamine has been the Chief Executive Officer at alstria office REIT-AG since November 2006 and Member of Management Board since 2006 and serves as its Chairman of the Management Board. Mr. Elamine is the Founder of alstria office REIT-AG. He serves as Advisor at Fluxus Ventures LLP. He served as Manager in the Real Estate Corporate Finance team at Ernst & Young. He was one of the founders/founding partners of Ixis Capital Partners Limited (now NATIXIS Capital Partners). He served as Director of CDC IXIS's Investment Banking team (focusing on real estate) and consultant at Ernst & Young (also focusing on real estate). He has been Vice Chairman of Supervisory Board at DO Deutsche Office AG since November 04, 2015. He has been a Non-Executive Independent Director of COIMA RES S.p.A. since May 10, 2017 and a Member of Supervisory Board at DO Deutsche Office AG since November 04, 2015. He holds a Bachelor of Science in Civil Works from Ecole Nationale des Travaux publics de l'Etat in 1996. He holds a civil engineering degree in real estate and construction and a Master in building and construction science from the University of Lyon.

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

Average tenure of the alstria office REIT-AG management team in years:

11.4
Average Tenure
  • The average tenure for the alstria office REIT-AG management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Olivier Elamine

TITLE
Chairman of the Management Board & CEO
COMPENSATION
€704K
AGE
46
TENURE
12 yrs

Alexander Dexne

TITLE
CFO & Member of Management Board
COMPENSATION
€581K
AGE
53
TENURE
11.4 yrs

Ralf Dibbern

TITLE
Head of Investor Relations & Public Relations
TENURE
8.5 yrs
Board of Directors Tenure

Average tenure and age of the alstria office REIT-AG board of directors in years:

2.5
Average Tenure
54
Average Age
  • The average tenure for the alstria office REIT-AG board of directors is less than 3 years, this suggests a new board.
Board of Directors

Johannes Conradi

TITLE
Supervisory Board Chairman
AGE
56
TENURE
2.5 yrs

Richard Mully

TITLE
Vice Chairman of the Supervisory Board
AGE
57
TENURE
2 yrs

Marianne Voigt

TITLE
Supervisory Board Member
AGE
52
TENURE
7.1 yrs

Benoît Hérault

TITLE
Supervisory Board Member
AGE
51
TENURE
6.7 yrs

Stefanie Frensch

TITLE
Supervisory Board Member
AGE
49
TENURE
2.5 yrs

Bernhard Düttmann

TITLE
Supervisory Board Member
AGE
59
TENURE
1.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Start End Shares Max Price ($) Value ($)
X
Management checks
We assess alstria office REIT-AG'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. alstria office REIT-AG 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.

ALSR.F News

External News
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Simply Wall St News

ALSR.F Company Info

Map
Description

Alstria office REIT-AG is an internally managed Real Estate Investment Trust (REIT) focused solely on acquiring, owning and managing office real estate in Germany. alstria was founded in January 2006 and was converted into the first German REIT in October 2007. Its headquarters are in Hamburg. The combination of alstria and Deutsche Office creates the leading listed German office real estate company with a combined portfolio of 117 office buildings comprising 1.6 million sqm of lettable space and representing a total portfolio value of approximately EUR 3.5 billion (as of September 30, 2018). The alstria office REIT-AG strategy is based on active asset and portfolio management as well as on establishing and maintaining good relationships with key customers and decision makers. alstria focuses on long-term real estate value creation.

Details
Name: alstria office REIT-AG
ALSR.F
Exchange: OTCPK
Founded: 2006
€2,514,976,425
177,416,497
Website: http://www.alstria.com
Address: alstria office REIT-AG
Steinstrasse 7,
Hamburg,
Hamburg, 20095,
Germany
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
XTRA AOX Ordinary Bearer Shares XETRA Trading Platform DE EUR 03. Apr 2007
OTCPK ALSR.F Ordinary Bearer Shares Pink Sheets LLC US USD 03. Apr 2007
DB AOX Ordinary Bearer Shares Deutsche Boerse AG DE EUR 03. Apr 2007
LSE 0O9Q Ordinary Bearer Shares London Stock Exchange GB EUR 03. Apr 2007
SWX AOX Ordinary Bearer Shares SIX Swiss Exchange CH CHF 03. Apr 2007
WBAG AOX Ordinary Bearer Shares Wiener Boerse AG AT EUR 03. Apr 2007
BATS-CHIXE AOXD Ordinary Bearer Shares BATS 'Chi-X Europe' GB EUR 03. Apr 2007
Number of employees
Current staff
Staff numbers
136
alstria office REIT-AG employees.
Industry
Office REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2018/11/11 21:42
End of day share price update: 2018/08/14 00:00
Last estimates confirmation: 2018/11/07
Last earnings filing: 2018/11/05
Last earnings reported: 2018/09/30
Last annual earnings reported: 2017/12/31


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.