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BSR Real Estate Investment Trust

OTCPK:BSRT.F
Snowflake Description

Good value average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BSRT.F
OTCPK
$397M
Imp Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

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 last earnings update was 70 days ago. More info.


Add to Portfolio Compare Print
  • BSR Real Estate Investment Trust has significant price volatility in the past 3 months.
BSRT.F Share Price and Events
7 Day Returns
3.6%
OTCPK:BSRT.F
0.2%
US REITs
-3.9%
US Market
1 Year Returns
-
OTCPK:BSRT.F
13%
US REITs
1.4%
US Market
BSRT.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
BSR Real Estate Investment Trust (BSRT.F) 3.6% 3.3% 9.5% - - -
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
  • No trading data on BSRT.F.
  • No trading data on BSRT.F.
Price Volatility
Industry
5yr Volatility vs Market

Value

 Is BSR Real Estate Investment Trust 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 BSR Real Estate Investment Trust 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 BSR Real Estate Investment Trust.

OTCPK:BSRT.F Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.4%
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 OTCPK:BSRT.F
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- 26.5%) (165.63%))
1.12
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.12
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.12 * 5.96%)
9.4%

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

The calculations below outline how an intrinsic value for BSR Real Estate Investment Trust 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.

BSR Real Estate Investment Trust 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:BSRT.F DCF 1st Stage: Next 10 year cash flow forecast
Adjusted Funds From Operations (AFFO) (USD, Millions) Source Present Value
Discounted (@ 9.4%)
2019 26.80 Analyst x4 24.50
2020 29.70 Analyst x4 24.82
2021 35.11 Analyst x1 26.81
2022 40.70 Est @ 15.93% 28.41
2023 45.57 Est @ 11.97% 29.07
2024 49.76 Est @ 9.2% 29.02
2025 53.37 Est @ 7.26% 28.45
2026 56.52 Est @ 5.9% 27.54
2027 59.31 Est @ 4.95% 26.42
2028 61.85 Est @ 4.28% 25.18
Present value of next 10 years cash flows $270.22
OTCPK:BSRT.F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $61.85 × (1 + 2.73%) ÷ (9.4% – 2.73%)
$952.31
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $952.31 ÷ (1 + 9.4%)10
$387.72
OTCPK:BSRT.F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $270.22 + $387.72
$657.93
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $657.93 / 39.71
$16.62
OTCPK:BSRT.F Discount to Share Price
Calculation Result
Value per share (USD) From above. $16.65
Current discount Discount to share price of $10.02
= -1 x ($10.02 - $16.65) / $16.65
39.8%

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

Current Discount
Amount off the current price BSR Real Estate Investment Trust is available for.
Intrinsic value
40%
Share price is $10.02 vs Future cash flow value of $16.65
Current Discount Checks
For BSR Real Estate Investment Trust to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • BSR Real Estate Investment Trust's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • BSR Real Estate Investment Trust'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 BSR Real Estate Investment Trust's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are BSR Real Estate Investment Trust's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:BSRT.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $8.70
TSX:HOM.U Share Price ** TSX (2019-05-15) in USD $10
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 BSR Real Estate Investment Trust.

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

= TSX:HOM.U Share Price ÷ EPS (both in USD)

= 10 ÷ 8.70

1.15x

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

  • BSR Real Estate Investment Trust is good value based on earnings compared to the US REITs industry average.
  • BSR Real Estate Investment Trust is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does BSR Real Estate Investment Trust's expected growth come at a high price?
Raw Data
OTCPK:BSRT.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 1.15x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
-30.7%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 BSR Real Estate Investment Trust, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on BSR Real Estate Investment Trust's assets?
Raw Data
OTCPK:BSRT.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $17.43
TSX:HOM.U Share Price * TSX (2019-05-15) in USD $10
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
OTCPK:BSRT.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:HOM.U Share Price ÷ Book Value per Share (both in USD)

= 10 ÷ 17.43

0.57x

* Primary Listing of BSR Real Estate Investment Trust.

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

  • BSR Real Estate Investment Trust is good value based on assets compared to the US REITs industry average.
X
Value checks
We assess BSR Real Estate Investment Trust'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. BSR Real Estate Investment Trust has a total score of 4/6, 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 BSR Real Estate Investment Trust expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

  • No analysts cover BSR Real Estate Investment Trust, 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
-30.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is BSR Real Estate Investment Trust expected to grow at an attractive rate?
  • BSR Real Estate Investment Trust'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
  • BSR Real Estate Investment Trust's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • BSR Real Estate Investment Trust's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:BSRT.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:BSRT.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts -30.7%
OTCPK:BSRT.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 25.3%
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
OTCPK:BSRT.F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:BSRT.F Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 147 44 1
2020-12-31 123 43 4
2019-12-31 112 31 3
OTCPK:BSRT.F Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 64 31 144
2018-03-31 91 43 53
2017-12-31 87 41 64
2016-12-31 76 35 43

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • BSR Real Estate Investment Trust's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • BSR Real Estate Investment Trust's revenue is expected to grow significantly at over 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:BSRT.F Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from BSR Real Estate Investment Trust Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:BSRT.F 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
OTCPK:BSRT.F Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 8.70
2018-03-31
2017-12-31
2016-12-31

*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 BSR Real Estate Investment Trust will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess BSR Real Estate Investment Trust'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.
BSR Real Estate Investment Trust has a total score of 2/6, 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 BSR Real Estate Investment Trust 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 BSR Real Estate Investment Trust'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.
  • Insufficient data to establish if BSR Real Estate Investment Trust's year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare BSR Real Estate Investment Trust's 1-year earnings growth to the 5-year average due to insufficient past data.
  • BSR Real Estate Investment Trust's earnings growth has exceeded the US REITs industry average in the past year (124.8% vs 16%).
Earnings and Revenue History
BSR Real Estate Investment Trust'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 BSR Real Estate Investment Trust Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:BSRT.F Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 64.07 143.95 3.93
2018-03-31 91.15 53.18 4.92
2017-12-31 86.79 64.05 4.73
2016-12-31 75.91 43.04 3.98
2015-12-31 71.80 19.26 3.76

*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 BSR Real Estate Investment Trust 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.
  • BSR Real Estate Investment Trust used its assets more efficiently than the US REITs industry average last year based on Return on Assets.
  • BSR Real Estate Investment Trust's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess BSR Real Estate Investment Trust'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.
BSR Real Estate Investment Trust has a total score of 2/6, 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 BSR Real Estate Investment Trust'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 BSR Real Estate Investment Trust's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • BSR Real Estate Investment Trust's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • BSR Real Estate Investment Trust's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of BSR Real Estate Investment Trust'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 0x 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 BSR Real Estate Investment Trust Company Filings, last reported 4 months ago.

OTCPK:BSRT.F Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 288.51 657.02 7.58
2018-03-31 303.79 528.99 7.90
2017-12-31 296.53 522.38 8.81
2016-12-31 217.14 421.33 10.90
2015-12-31 157.23 400.47 15.98
  • BSR Real Estate Investment Trust's level of debt (227.7%) compared to net worth is high (greater than 40%).
  • Unable to establish if BSR Real Estate Investment Trust's debt level has increased without past 5-year debt data.
  • Debt is not well covered by operating cash flow (4.7%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 1.9x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess BSR Real Estate Investment Trust'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. BSR Real Estate Investment Trust has a total score of 0/6, 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 BSR Real Estate Investment Trust'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
5%
Current annual income from BSR Real Estate Investment Trust dividends. Estimated to be 5.32% next year.
If you bought $2,000 of BSR Real Estate Investment Trust shares you are expected to receive $100 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?
  • BSR Real Estate Investment Trust's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.46%).
  • BSR Real Estate Investment Trust's dividend is above the markets top 25% of dividend payers in United States of America (3.71%).
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:BSRT.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 4 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.

OTCPK:BSRT.F Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.50 1.00
2020-12-31 0.54 6.00
2019-12-31 0.54 6.00
OTCPK:BSRT.F Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-04-15 0.500 5.148
2019-03-15 0.500 5.351
2019-02-15 0.500 5.486
2019-01-15 0.500 5.476
2018-12-17 0.500 6.210
2018-11-15 0.500 5.791
2018-10-15 0.500 5.614
2018-09-14 0.500 5.388
2018-08-15 0.500 5.366
2018-07-20 0.500 5.451
2018-06-22 0.500 5.292

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

  • It is too early to tell whether BSR Real Estate Investment Trust has stable dividend payments.
  • BSR Real Estate Investment Trust only just started paying a dividend, it is too early to tell if payments are increasing.
Current Payout to shareholders
What portion of BSR Real Estate Investment Trust's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (88.3x coverage).
X
Income/ dividend checks
We assess BSR Real Estate Investment Trust'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 BSR Real Estate Investment Trust afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. BSR Real Estate Investment Trust 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.

Management

 What is the CEO of BSR Real Estate Investment Trust'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
John Bailey
AGE 61
CEO Bio

Mr. John Stanley Bailey is Chief Executive Officer of BSR Real Estate Investment Trust and has been its Trustee since April 2018. Mr. Bailey serves as Chairman of The Board and Chief Executive Officer at BSR Trust, LLC. Mr. Bailey served as the Chief Executive Officer of Bailey Properties, LLC from January 1992 to 2011. From 1980 to 1991, Mr. Bailey served and traded his own account at the Chicago Mercantile Exchange in the Eurodollar financial futures pit from 1980 to 1991. Mr. Bailey was employed at Joby Corp Little Rock, AR since 1992. From 1984 to 1992, he was employed at Chicago Mercantile Exchange, Chicago, IL. In 1991, Mr. Bailey transitioned to a career in the multifamily real estate industry when he began purchasing commercial and multifamily properties, including the historic Union Station in downtown Little Rock. Mr. Bailey serves on the board of directors for Centennial Bank (Little Rock), The Boys and Girls Club of Central Arkansas, Little Rock Regional Chamber of Commerce, Fifty for the Future, Bailey Timberlands, LLC, Holy Souls Catholic Church, and the Arkansas Tennis Patrons Foundation. Mr. Bailey serves on the board of directors of The Salvation Army. He is an Arkansas licensed real estate broker. Mr. Bailey has a BSBA in Finance and Banking from the University of Arkansas, earned a CCIM designation in 1996.

CEO Compensation
  • Insufficient data for John to compare compensation growth.
  • Insufficient data for John to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.
Management Team Tenure

Average tenure of the BSR Real Estate Investment Trust management team in years:

7.3
Average Tenure
  • The average tenure for the BSR Real Estate Investment Trust management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

John Bailey

TITLE
CEO & Trustee
AGE
61

F. Brazeal

TITLE
President & COO
TENURE
3.3 yrs

Susan Koehn

TITLE
Chief Financial Officer

Daniel Oberste

TITLE
Executive VP & Chief Investment Officer
TENURE
7.3 yrs

Brandon Barger

TITLE
Chief Accounting Officer

Scott Ray

TITLE
Chief Administrative Officer
TENURE
7.3 yrs

Spencer Andrews

TITLE
Director of Marketing

Phillip Anders

TITLE
Director of Human Resources

Mike Cirillo

TITLE
Vice President of Asset Management

Debby Pratt

TITLE
Controller
Board of Directors Tenure

Average tenure and age of the BSR Real Estate Investment Trust board of directors in years:

1.1
Average Tenure
59
Average Age
  • The average tenure for the BSR Real Estate Investment Trust board of directors is less than 3 years, this suggests a new board.
Board of Directors

Neil Labatte

TITLE
Chairman
AGE
61

John Bailey

TITLE
CEO & Trustee
AGE
61
TENURE
1.1 yrs

Bryan Held

TITLE
Independent Trustee
AGE
69
TENURE
1.1 yrs

Graham Senst

TITLE
Independent Trustee
AGE
59
TENURE
1.3 yrs

Elizabeth Wademan

TITLE
Independent Trustee
AGE
42
TENURE
1.1 yrs

Bill Halter

TITLE
Independent Trustee
AGE
57
TENURE
1.1 yrs

Warren Hughes

TITLE
Non-independent Trustee
AGE
53
TENURE
1.1 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 ($) Value ($)
11. Sep 18 Buy Neil Labatte Individual 11. Sep 18 11. Sep 18 10,000 $9.31 $93,100
17. Aug 18 Buy Graham Senst Individual 16. Aug 18 17. Aug 18 6,200 $9.30 $57,606
17. Aug 18 Buy John Bailey Individual 16. Aug 18 16. Aug 18 56,239 $9.45 $531,143
03. Jul 18 Buy Susan Koehn Individual 29. Jun 18 29. Jun 18 145 $9.60 $1,392
29. Jun 18 Buy John Bailey Individual 28. Jun 18 28. Jun 18 238,184 $9.70 $2,310,480
28. Jun 18 Buy John Bailey Individual 27. Jun 18 27. Jun 18 21,933 $9.30 $203,922
26. Jun 18 Buy John Bailey Individual 25. Jun 18 25. Jun 18 153 $7.07 $1,081
11. Jun 18 Buy John Bailey Individual 07. Jun 18 07. Jun 18 12,824 $7.48 $95,977
23. May 18 Buy Graham Senst Individual 23. May 18 23. May 18 1,000 $9.45 $9,450
X
Management checks
We assess BSR Real Estate Investment Trust'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. BSR Real Estate Investment Trust 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

Company Info

Description

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 49 multifamily garden-style residential properties consisting of 10,116 apartment units located across five bordering states in the Sunbelt region of the United States.

Details
Name: BSR Real Estate Investment Trust
BSRT.F
Exchange: OTCPK
Founded:
$396,685,178
$165,500,000
39,708,226
Website: http://www.bsrreit.com
Address: BSR Real Estate Investment Trust
333 Bay Street,
Suite 3400,
Toronto,
Ontario, M5H 2S7,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX HOM.U REIT Units The Toronto Stock Exchange CA USD 18. May 2018
OTCPK BSRT.F REIT Units Pink Sheets LLC US USD 18. May 2018
Number of employees
Current staff
Staff numbers
300
BSR Real Estate Investment Trust employees.
Industry
Residential REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/16 02:58
End of day share price update: 2019/05/15 00:00
Last estimates confirmation: 2019/05/15
Last earnings filing: 2019/03/07
Last earnings reported: 2018/12/31
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.