OTCPK:BSRT.F

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BSR Real Estate Investment Trust

Executive Summary

BSR Real Estate Investment Trust is an internally managed, unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario.


Snowflake Analysis

Undervalued second-rate dividend payer.


Similar Companies

Share Price & News

How has BSR Real Estate Investment Trust's share price performed over time and what events caused price changes?


Latest Share Price and Events

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


Market Performance


7 Day Return

3.9%

BSRT.F

4.6%

US REITs

2.9%

US Market


1 Year Return

2.5%

BSRT.F

-7.2%

US REITs

8.9%

US Market

Return vs Industry: BSRT.F exceeded the US REITs industry which returned -7.2% over the past year.

Return vs Market: BSRT.F underperformed the US Market which returned 8.9% over the past year.


Shareholder returns

BSRT.FIndustryMarket
7 Day3.9%4.6%2.9%
30 Day5.8%11.3%10.6%
90 Day-16.1%-9.8%5.1%
1 Year7.3%2.5%-3.3%-7.2%11.4%8.9%
3 Yearn/a16.7%2.3%34.3%25.4%
5 Yearn/a47.8%17.6%60.7%42.7%

Price Volatility Vs. Market

How volatile is BSR Real Estate Investment Trust's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is BSR Real Estate Investment Trust undervalued compared to its fair value and its price relative to the market?

33.8%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: BSRT.F ($10.53) is trading below our estimate of fair value ($15.92)

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


Price To Earnings Ratio

PE vs Industry: BSRT.F is good value based on its PE Ratio (6.7x) compared to the REITs industry average (29.6x).

PE vs Market: BSRT.F is good value based on its PE Ratio (6.7x) compared to the US market (16.4x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: BSRT.F is good value based on its PB Ratio (0.7x) compared to the US REITs industry average (1.5x).


Next Steps

Future Growth

How is BSR Real Estate Investment Trust forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

5.5%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if BSRT.F's forecast earnings growth is above the savings rate (2.2%).

Earnings vs Market: Insufficient data to determine if BSRT.F'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: BSRT.F's revenue (5.5% per year) is forecast to grow slower than the US market (8.8% per year).

High Growth Revenue: BSRT.F's revenue (5.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if BSRT.F's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has BSR Real Estate Investment Trust performed over the past 5 years?

12.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BSRT.F has high quality earnings.

Growing Profit Margin: BSRT.F's current net profit margins (32.4%) are lower than last year .


Past Earnings Growth Analysis

Earnings Trend: BSRT.F's earnings have grown by 12.3% per year over the past 5 years.

Accelerating Growth: BSRT.F's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: BSRT.F had negative earnings growth (-83.7%) over the past year, making it difficult to compare to the REITs industry average (5.2%).


Return on Equity

High ROE: BSRT.F's Return on Equity (10.2%) is considered low.


Next Steps

Financial Health

How is BSR Real Estate Investment Trust's financial position?


Financial Position Analysis

Short Term Liabilities: BSRT.F's short term assets ($18.9M) do not cover its short term liabilities ($36.0M).

Long Term Liabilities: BSRT.F's short term assets ($18.9M) do not cover its long term liabilities ($741.9M).


Debt to Equity History and Analysis

Debt Level: BSRT.F's debt to equity ratio (213.1%) is considered high.

Reducing Debt: Insufficient data to determine if BSRT.F's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: BSRT.F's debt is not well covered by operating cash flow (7%).

Interest Coverage: BSRT.F's interest payments on its debt are not well covered by EBIT (1.2x coverage).


Balance Sheet


Next Steps

Dividend

What is BSR Real Estate Investment Trust's current dividend yield, its reliability and sustainability?

4.71%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: BSRT.F's dividend (4.71%) is higher than the bottom 25% of dividend payers in the US market (1.62%).

High Dividend: BSRT.F's dividend (4.71%) is in the top 25% of dividend payers in the US market (4.32%)


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (36.8%), BSRT.F's dividend payments are well 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?

2.2yrs

Average management tenure


CEO

John Bailey (62yo)

no data

Tenure

Mr. John Stanley Bailey is Chief Executive Officer of BSR Real Estate Investment Trust and has been its Trustee since April 08, 2018. Mr. Bailey serves as Chairman of The Board and Chief Executive Officer  ...


Leadership Team

NamePositionTenureCompensationOwnership
John Bailey
CEO & Trusteeno datano data10.2% $41.8m
F. Brazeal
President & COO2.17yrsUS$917.81k0.057% $235.4k
Susan Koehn
CFO & Corporate Secretary2.17yrsUS$646.02k0.028% $115.3k
Daniel Oberste
Executive VP & Chief Investment Officer2.17yrsUS$713.62k0.046% $187.9k
Scott Ray
Chief Administrative Officer2.17yrsUS$405.63k0.14% $567.2k
Brandon Barger
Chief Accounting Officer2.17yrsno datano data
Spencer Andrews
Director of Marketingno datano datano data
Phillip Anders
Director of Human Resourcesno datano datano data
Mike Cirillo
Vice President of Asset Managementno datano datano data
Debby Pratt
Controllerno datano datano data

2.2yrs

Average Tenure

Experienced Management: BSRT.F's management team is considered experienced (2.2 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
John Bailey
CEO & Trusteeno datano data10.2% $41.8m
William Halter
Independent Trustee2.17yrsUS$76.99k0.00067% $2.7k
Neil Labatte
Independent Chairmanno dataUS$149.59k0.21% $869.6k
Bryan Held
Independent Trustee2.17yrsUS$107.56k0.026% $107.6k
Graham Senst
Independent Trustee2.42yrsUS$109.47k0.25% $1.0m
Elizabeth Wademan
Independent Trustee2.17yrsUS$103.35k0.010% $41.2k
Warren Hughes
Non-independent Trustee2.17yrsUS$77.07k0.011% $44.8k

2.2yrs

Average Tenure

60yo

Average Age

Experienced Board: BSRT.F's board of directors are not considered experienced ( 2.2 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: BSRT.F insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Insufficient data to determine if shareholders have been diluted in the past year.


Top Shareholders

Company Information

BSR Real Estate Investment Trust's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: BSR Real Estate Investment Trust
  • Ticker: BSRT.F
  • Exchange: OTCPK
  • Founded:
  • Industry: Residential REITs
  • Sector: Real Estate
  • Implied Market Cap: CA$554.827m
  • Market Cap: CA$243.044m
  • Listing Market Cap: CA$410.330m
  • Shares outstanding: 44.60m
  • Website: https://www.bsrreit.com

Number of Employees


Location

  • BSR Real Estate Investment Trust
  • 333 Bay Street
  • Suite 3400
  • Toronto
  • Ontario
  • M5H 2S7
  • Canada

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
HOM.UTSX (The Toronto Stock Exchange)YesREIT UnitsCAUSDMay 2018
BSRT.FOTCPK (Pink Sheets LLC)YesREIT UnitsUSUSDMay 2018
HOM.UNTSX (The Toronto Stock Exchange)YesREIT UnitsCACADMay 2018

Biography

BSR Real Estate Investment Trust is an internally managed, unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario. The REIT owns a portfolio of multifamily garden-style residential properties located in attractive primary and secondary markets in the Sunbelt region of the United States. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/06/05 05:49
End of Day Share Price2020/06/04 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


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.