OTCPK:GRDD.Y

Stock Analysis Report

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Executive Summary

Grand City Properties S.A. engages in the residential real estate business in Germany, the United Kingdom, and internationally.


Snowflake Analysis

Fair value with mediocre balance sheet.


Similar Companies

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

0%

GRDD.Y

0%

US Real Estate

0%

US Market


1 Year Return

n/a

GRDD.Y

0%

US Real Estate

0%

US Market

Return vs Industry: Insufficient data to determine how GRDD.Y performed against the US Real Estate industry.

Return vs Market: Insufficient data to determine how GRDD.Y performed against the US Market.


Shareholder returns

GRDD.YIndustryMarket
7 Day0%0%0%
30 Day0%0%0%
90 Dayn/a0%0%
1 Yearn/a0%0%0%0%
3 Yearn/a0%0%0%0%
5 Yearn/a0%0%0%0%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

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

10.07x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: GRDD.Y ($21.25) is trading above our estimate of fair value ($10.82)

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


Price To Earnings Ratio

PE vs Industry: GRDD.Y is good value based on its PE Ratio (10.1x) compared to the Real Estate industry average (14.8x).

PE vs Market: GRDD.Y is good value based on its PE Ratio (10.1x) compared to the US market (15.8x).


Price to Earnings Growth Ratio

PEG Ratio: GRDD.Y's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: GRDD.Y is good value based on its PB Ratio (0.8x) compared to the US Real Estate industry average (1.1x).


Next Steps

Future Growth

How is Grand City Properties forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

-8.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: GRDD.Y's earnings are forecast to decline over the next 3 years (-8.2% per year).

Earnings vs Market: GRDD.Y's earnings are forecast to decline over the next 3 years (-8.2% per year).

High Growth Earnings: GRDD.Y's earnings are forecast to decline over the next 3 years.

Revenue vs Market: GRDD.Y's revenue (3.4% per year) is forecast to grow slower than the US market (8.8% per year).

High Growth Revenue: GRDD.Y's revenue (3.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: GRDD.Y's Return on Equity is forecast to be low in 3 years time (6.2%).


Next Steps

Past Performance

How has Grand City Properties performed over the past 5 years?

6.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: GRDD.Y has a large one-off gain of €274.6M impacting its March 31 2020 financial results.

Growing Profit Margin: GRDD.Y's current net profit margins (60.8%) are lower than last year (86.7%).


Past Earnings Growth Analysis

Earnings Trend: GRDD.Y's earnings have grown by 6.4% per year over the past 5 years.

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

Earnings vs Industry: GRDD.Y had negative earnings growth (-29.3%) over the past year, making it difficult to compare to the Real Estate industry average (-6.4%).


Return on Equity

High ROE: GRDD.Y's Return on Equity (8.5%) is considered low.


Next Steps

Financial Health

How is Grand City Properties's financial position?


Financial Position Analysis

Short Term Liabilities: GRDD.Y's short term assets (€1.7B) exceed its short term liabilities (€414.2M).

Long Term Liabilities: GRDD.Y's short term assets (€1.7B) do not cover its long term liabilities (€4.6B).


Debt to Equity History and Analysis

Debt Level: GRDD.Y's debt to equity ratio (76.6%) is considered high.

Reducing Debt: GRDD.Y's debt to equity ratio has reduced from 79.3% to 76.6% over the past 5 years.

Debt Coverage: GRDD.Y's debt is not well covered by operating cash flow (6.6%).

Interest Coverage: GRDD.Y's interest payments on its debt are well covered by EBIT (6.6x coverage).


Balance Sheet


Next Steps

Dividend

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

4.04%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: GRDD.Y's dividend (4.04%) is higher than the bottom 25% of dividend payers in the US market (1.69%).

High Dividend: GRDD.Y's dividend (4.04%) is low compared to the top 25% of dividend payers in the US market (4.52%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, GRDD.Y has been paying a dividend for less than 10 years.

Growing Dividend: GRDD.Y's dividend payments have increased, but the company has only paid a dividend for 5 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (40.7%), GRDD.Y's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: GRDD.Y's dividends in 3 years are forecast to be well covered by earnings (49.4% payout ratio).


Next Steps

Management

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

5.5yrs

Average board tenure


CEO

Christian Windfuhr

6.42yrs

Tenure

€538,000

Compensation

Mr. Christian G. Windfuhr has been the Chief Executive Officer of Grand City Properties S.A. since November 2013. Mr. Windfuhr served as the Chief Executive Officer of GCH Hotels GmbH (formerly Grand City  ...


CEO Compensation Analysis

Compensation vs Market: Christian's total compensation ($USD598.11K) is below average for companies of similar size in the US market ($USD5.91M).

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


Board Members

NamePositionTenureCompensationOwnership
Refael Zamir
Chairman & CFO3.33yrs€755.00kno data
Claudio Jarczyk
Member of Advisory Boardno datano datano data
Yakir Gabay
Chairman of Advisory Board6.42yrsno datano data
David Maimon
Member of Advisory Board0.75yrno datano data
Simone Runge-Brandner
Independent Director7.42yrs€112.00kno data
Daniel Malkin
Independent Director7.42yrs€112.00kno data
Andrew Wallis
Vice Chairman of Advisory Board4.58yrsno datano data

5.5yrs

Average Tenure

51yo

Average Age

Experienced Board: GRDD.Y's board of directors are considered experienced (5.5 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

Grand City Properties S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Grand City Properties S.A.
  • Ticker: GRDD.Y
  • Exchange: OTCPK
  • Founded: 2011
  • Industry: Real Estate Operating Companies
  • Sector: Real Estate
  • Market Cap: €3.422b
  • Listing Market Cap: €3.805b
  • Shares outstanding: 167.92m
  • Website: https://www.grandcityproperties.com

Number of Employees


Location

  • Grand City Properties S.A.
  • 1, Avenue du Bois
  • Luxembourg
  • 1251
  • Luxembourg

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
GYCDB (Deutsche Boerse AG)YesOrdinary SharesDEEURMay 2012
GYCXTRA (XETRA Trading Platform)YesOrdinary SharesDEEURMay 2012
GYCDBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURMay 2012
GRNN.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDMay 2012
0RPKLSE (London Stock Exchange)YesOrdinary SharesGBEURMay 2012
GYCSWX (SIX Swiss Exchange)YesOrdinary SharesCHCHFMay 2012
GYCWBAG (Wiener Boerse AG)YesOrdinary SharesATEURMay 2012
GYCETLX (Eurotlx)YesOrdinary SharesITEURMay 2012
GRDD.YOTCPK (Pink Sheets LLC)SPON ADRUSUSDFeb 2018

Biography

Grand City Properties S.A. engages in the residential real estate business in Germany, the United Kingdom, and internationally. The company invests in, manages, and rents real estate properties in Berlin, North Rhine Westphalia, Dresden, Leipzig, Halle, Nuremberg, Fürth, Munich, Mannheim, Frankfurt, Bremen, London, Mainz, and Hamburg. Grand City Properties S.A. was incorporated in 2011 and is based in Luxembourg. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/05/31 06:25
End of Day Share Price2020/04/06 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.