OTCPK:CPTP

Stock Analysis Report

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Executive Summary

Capital Properties, Inc., together with its subsidiaries, engages in leasing land in downtown Providence, Rhode Island under long-term ground leases.


Snowflake Analysis

Outstanding track record with flawless balance sheet.

Share Price & News

How has Capital Properties's share price performed over time and what events caused price changes?


Latest Share Price and Events

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


Market Performance


7 Day Return

-1.0%

CPTP

8.5%

US Real Estate

2.5%

US Market


1 Year Return

-15.5%

CPTP

-17.4%

US Real Estate

8.4%

US Market

Return vs Industry: CPTP exceeded the US Real Estate industry which returned -17.4% over the past year.

Return vs Market: CPTP underperformed the US Market which returned 8.4% over the past year.


Shareholder returns

CPTPIndustryMarket
7 Day-1.0%8.5%2.5%
30 Day-13.0%6.2%5.1%
90 Day-26.4%-24.5%2.0%
1 Year-13.3%-15.5%-16.8%-17.4%10.9%8.4%
3 Year-3.3%-13.0%-18.9%-20.7%30.5%21.9%
5 Year2.6%-7.7%-25.6%-27.9%56.9%39.2%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

Is Capital Properties undervalued compared to its fair value and its price relative to the market?

32.86x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: CPTP ($12) is trading above our estimate of fair value ($4.5)

Significantly Below Fair Value: CPTP is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: CPTP is poor value based on its PE Ratio (32.9x) compared to the Real Estate industry average (15.7x).

PE vs Market: CPTP is poor value based on its PE Ratio (32.9x) compared to the US market (16x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: CPTP is overvalued based on its PB Ratio (11.8x) compared to the US Real Estate industry average (1.1x).


Next Steps

Future Growth

How is Capital Properties forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

18.0%

Forecasted Real Estate industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Capital Properties has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Capital Properties performed over the past 5 years?

1.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CPTP has high quality earnings.

Growing Profit Margin: CPTP's current net profit margins (47.6%) are higher than last year (16.1%).


Past Earnings Growth Analysis

Earnings Trend: CPTP's earnings have grown by 1.7% per year over the past 5 years.

Accelerating Growth: CPTP's earnings growth over the past year (186.5%) exceeds its 5-year average (1.7% per year).

Earnings vs Industry: CPTP earnings growth over the past year (186.5%) exceeded the Real Estate industry -6.4%.


Return on Equity

High ROE: CPTP's Return on Equity (36%) is considered high.


Next Steps

Financial Health

How is Capital Properties's financial position?


Financial Position Analysis

Short Term Liabilities: CPTP's short term assets ($2.0M) exceed its short term liabilities ($1.3M).

Long Term Liabilities: CPTP's short term assets ($2.0M) exceed its long term liabilities ($862.0K).


Debt to Equity History and Analysis

Debt Level: CPTP is debt free.

Reducing Debt: CPTP has no debt compared to 5 years ago when its debt to equity ratio was 416.1%.

Debt Coverage: CPTP has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: CPTP has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

What is Capital Properties's current dividend yield, its reliability and sustainability?

3.75%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: CPTP's dividend (3.75%) is higher than the bottom 25% of dividend payers in the US market (1.69%).

High Dividend: CPTP's dividend (3.75%) is low compared to the top 25% of dividend payers in the US market (4.45%).


Stability and Growth of Payments

Stable Dividend: CPTP's dividend payments have been volatile in the past 10 years.

Growing Dividend: CPTP's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (76.7%), CPTP's payments are 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?

2.4yrs

Average management tenure


CEO

Robert Eder (86yo)

no data

Tenure

US$314,820

Compensation

Mr. Robert H. Eder serves as the Chief Executive Officer of Capital Properties Inc. and its President since October 31, 2018. Mr. Eder served as the President at Capital Properties Inc. since January 1, 20 ...


CEO Compensation Analysis

Compensation vs Market: Robert's total compensation ($USD314.82K) is below average for companies of similar size in the US market ($USD587.77K).

Compensation vs Earnings: Robert's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Robert Eder
Chairmanno dataUS$314.82k52.33% $41.4m
Susan Johnson
CFO, Principal Accounting Officer2.42yrsUS$143.66kno data
Michael Hoffmann
Managing Director for Perry Cabin Resorts & Golf1.33yrsno datano data
Stephen Carlotti
Secretary22.33yrsno datano data

2.4yrs

Average Tenure

76yo

Average Age

Experienced Management: CPTP's management team is considered experienced (2.4 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Robert Eder
Chairmanno dataUS$314.82k52.33% $41.4m
Alfred Corso
Independent Director15.33yrsUS$24.00k0.031% $24.5k
Steven Triedman
Independent Director5.17yrsUS$24.25k0.0015% $1.2k

15.3yrs

Average Tenure

82yo

Average Age

Experienced Board: CPTP's board of directors are seasoned and experienced ( 15.3 years average tenure).


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.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Capital Properties, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Capital Properties, Inc.
  • Ticker: CPTP
  • Exchange: OTCPK
  • Founded: 1977
  • Industry: Real Estate Operating Companies
  • Sector: Real Estate
  • Market Cap: US$79.199m
  • Shares outstanding: 6.60m
  • Website: https://www.capitalproperties.com

Number of Employees


Location

  • Capital Properties, Inc.
  • 5 Steeple Street
  • Unit 303
  • Providence
  • Rhode Island
  • 2903
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CPTPOTCPK (Pink Sheets LLC)YesClass A Common StockUSUSDJan 1975

Biography

Capital Properties, Inc., together with its subsidiaries, engages in leasing land in downtown Providence, Rhode Island under long-term ground leases. It owns approximately 18 acres in the Capital Center consisting of 13 individual parcels; owns and leases Parcel 20, an undeveloped parcel of land adjacent to the Capital Center for public parking purposes on a short-term basis; and leases 23 outdoor advertising locations containing 44 billboard faces along interstate and primary highways in Rhode Island and Massachusetts. The company was formerly known as Providence and Worcester Company and changed its name to Capital Properties, Inc. in 1984. Capital Properties, Inc. was founded in 1977 and is based in Providence, Rhode Island. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/05/29 11:15
End of Day Share Price2020/05/28 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.