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Grand City Properties

OTCPK:GRDD.Y
Snowflake Description

Fair value with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
GRDD.Y
OTCPK
€4B
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

Grand City Properties S.A. invests in and manages real estate properties in Germany. The last earnings update was 120 days ago. More info.


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GRDD.Y Share Price and Events
7 Day Returns
0%
OTCPK:GRDD.Y
0.9%
US Real Estate
2.4%
US Market
1 Year Returns
-2.8%
OTCPK:GRDD.Y
-12.1%
US Real Estate
1.9%
US Market
GRDD.Y Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Grand City Properties (GRDD.Y) 0% 0% 0% -2.8% - -
US Real Estate 0.9% -2.6% 17.2% -12.1% 29.1% 9.3%
US Market 2.4% 1.7% 11.9% 1.9% 38.2% 42.4%
1 Year Return vs Industry and Market
  • GRDD.Y outperformed the Real Estate industry which returned -12.1% over the past year.
  • GRDD.Y underperformed the Market in United States of America which returned 1.9% over the past year.
Price Volatility
GRDD.Y
Industry
5yr Volatility vs Market

Value

 Is Grand City Properties 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 Grand City Properties 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    Our intrinsic value calculation method has changed recently, learn more here.

Below are the data sources, inputs and calculation used to determine the intrinsic value for Grand City Properties.

OTCPK:GRDD.Y Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 8 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 13.1%
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:GRDD.Y
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Real Estate Unlevered Beta Simply Wall St/ S&P Global 1.24
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.244 (1 + (1- 26.01%) (93.48%))
1.74
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.74
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.74 * 5.96%)
13.1%

Discounted Cash Flow Calculation for OTCPK:GRDD.Y using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Grand City Properties 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.

OTCPK:GRDD.Y DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 13.1%)
2019 206.93 Analyst x3 182.96
2020 241.70 Analyst x3 188.95
2021 183.00 Analyst x1 126.49
2022 -296.00 Analyst x1 -180.89
2023 193.00 Analyst x1 104.29
2024 157.59 Est @ -18.35% 75.29
2025 138.63 Est @ -12.03% 58.56
2026 128.10 Est @ -7.6% 47.84
2027 122.33 Est @ -4.5% 40.40
2028 119.48 Est @ -2.33% 34.88
Present value of next 10 years cash flows €678.76
OTCPK:GRDD.Y DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €119.48 × (1 + 2.73%) ÷ (13.1% – 2.73%)
€1,183.53
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €1,183.53 ÷ (1 + 13.1%)10
€345.55
OTCPK:GRDD.Y Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €678.76 + €345.55
€1,024.31
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €1,024.31 / 166.66
€6.33
OTCPK:GRDD.Y Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:GRDD.Y represents 1.0304x of XTRA:GYC
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.0304x
Value per Share
(Listing Adjusted, USD)
= Value per Share (EUR) x Listing Adjustment Factor
= € 6.15 x 1.0304
$6.33
Value per share (USD) From above. $6.33
Current discount Discount to share price of $22.83
= -1 x ($22.83 - $6.33) / $6.33
-260.6%

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

  • The current share price of Grand City Properties is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Grand City Properties's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Grand City Properties's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:GRDD.Y PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in EUR €3.51
XTRA:GYC Share Price ** XTRA (2018-12-19) in EUR €22.16
United States of America Real Estate Industry PE Ratio Median Figure of 28 Publicly-Listed Real Estate Companies 15.49x
United States of America Market PE Ratio Median Figure of 3,055 Publicly-Listed Companies 17.61x

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

** Primary Listing of Grand City Properties.

OTCPK:GRDD.Y PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 22.16 ÷ 3.51

6.31x

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

  • Grand City Properties is good value based on earnings compared to the US Real Estate industry average.
  • Grand City Properties is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Grand City Properties's expected growth come at a high price?
Raw Data
OTCPK:GRDD.Y PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 6.31x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts
-16.9%per year
United States of America Real Estate Industry PEG Ratio Median Figure of 12 Publicly-Listed Real Estate Companies 1.02x
United States of America Market PEG Ratio Median Figure of 2,109 Publicly-Listed Companies 1.48x

*Line of best fit is calculated by linear regression .

OTCPK:GRDD.Y PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 6.31x ÷ -16.9%

-0.37x

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

  • Grand City Properties 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 Grand City Properties's assets?
Raw Data
OTCPK:GRDD.Y PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in EUR €24.65
XTRA:GYC Share Price * XTRA (2018-12-19) in EUR €22.16
United States of America Real Estate Industry PB Ratio Median Figure of 57 Publicly-Listed Real Estate Companies 1.49x
United States of America Market PB Ratio Median Figure of 5,152 Publicly-Listed Companies 1.87x
OTCPK:GRDD.Y PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 22.16 ÷ 24.65

0.9x

* Primary Listing of Grand City Properties.

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

  • Grand City Properties is good value based on assets compared to the US Real Estate industry average.
X
Value checks
We assess Grand City Properties'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 Real Estate 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 Real Estate industry average (and greater than 0)? (1 check)
  5. Grand City Properties 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.

Future Performance

 How is Grand City Properties expected to perform in the next 1 to 3 years based on estimates from 8 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
-16.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Grand City Properties expected to grow at an attractive rate?
  • Grand City Properties'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
  • Grand City Properties's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • Grand City Properties's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:GRDD.Y Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:GRDD.Y Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts -16.9%
OTCPK:GRDD.Y Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts 6%
United States of America Real Estate Industry Earnings Growth Rate Market Cap Weighted Average 9.1%
United States of America Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 9.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*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:GRDD.Y Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:GRDD.Y Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31
2022-12-31 635 351 1
2021-12-31 701 276 320 2
2020-12-31 611 264 365 7
2019-12-31 606 211 347 2
2018-12-31 540 276 580 5
OTCPK:GRDD.Y Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-09-30 535 222 580
2018-06-30 526 219 579
2018-03-31 515 208 573
2017-12-31 503 202 535
2017-09-30 490 201 475
2017-06-30 482 205 417
2017-03-31 464 206 553
2016-12-31 443 201 545
2016-09-30 425 196 496
2016-06-30 399 186 487
2016-03-31 369 174 339
2015-12-31 333 157 344

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Grand City Properties's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Grand City Properties's revenue is expected to grow by 6% 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:GRDD.Y Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below

All data from Grand City Properties Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:GRDD.Y Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31 2.11 2.11 2.11 1.00
2021-12-31 1.92 2.25 1.58 3.00
2020-12-31 2.50 4.07 1.77 7.00
2019-12-31 2.33 2.44 2.18 3.00
2018-12-31 3.46 3.84 3.14 5.00
OTCPK:GRDD.Y Past Financials Data
Date (Data in EUR Millions) EPS *
2018-09-30 3.51
2018-06-30 3.51
2018-03-31 3.53
2017-12-31 3.35
2017-09-30 3.03
2017-06-30 2.71
2017-03-31 3.60
2016-12-31 3.56
2016-09-30 3.32
2016-06-30 3.41
2016-03-31 2.52
2015-12-31 2.71

*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.
  • Grand City Properties is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Grand City Properties'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.
Grand City Properties 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.

Past Performance

  How has Grand City Properties 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 Grand City Properties's growth in the last year to its industry (Real Estate).
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.
  • Grand City Properties has delivered over 20% year on year earnings growth in the past 5 years.
  • Grand City Properties's 1-year earnings growth is less than its 5-year average (22.1% vs 22.4%)
  • Grand City Properties's earnings growth has exceeded the US Real Estate industry average in the past year (22.1% vs 16.3%).
Earnings and Revenue History
Grand City Properties'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 Grand City Properties Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:GRDD.Y Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 535.22 579.81 12.23
2018-06-30 525.82 578.65 11.22
2018-03-31 514.57 573.29 11.08
2017-12-31 503.37 534.57 10.96
2017-09-30 489.77 474.93 10.95
2017-06-30 481.90 417.22 11.31
2017-03-31 463.87 553.15 10.61
2016-12-31 443.21 544.82 9.55
2016-09-30 425.35 496.17 9.15
2016-06-30 398.80 486.54 8.08
2016-03-31 368.64 338.76 7.60
2015-12-31 333.50 343.93 7.15
2015-09-30 300.84 317.35 6.50
2015-06-30 265.68 274.02 6.10
2015-03-31 236.96 219.48 5.76
2014-12-31 231.61 205.58 5.65
2014-09-30 271.30 257.42 5.00
2014-06-30 245.95 289.31 4.66
2014-03-31 214.43 279.44 3.67
2013-12-31 170.10 226.28 3.34
2013-09-30 94.63 135.14 2.65
2013-06-30 80.94 92.58 3.57
2013-03-31 74.01 72.57 3.20
2012-12-31 68.76 81.83 2.23
2012-09-30 46.04 58.77 1.44
2012-06-30 36.22 36.58 -0.48
2012-03-31 32.06 46.08 -0.24

*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.
  • Grand City Properties has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Grand City Properties used its assets more efficiently than the US Real Estate industry average last year based on Return on Assets.
  • Grand City Properties's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Grand City Properties'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 Real Estate 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.
Grand City Properties has a total score of 3/6, 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 Grand City Properties'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 Grand City Properties's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Grand City Properties is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Grand City Properties's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Grand City Properties'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 0.5x 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 Grand City Properties Company Filings, last reported 5 months ago.

OTCPK:GRDD.Y Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 4,479.11 3,467.87 906.91
2018-06-30 4,301.79 3,444.09 924.49
2018-03-31 3,963.77 3,415.88 900.82
2017-12-31 3,849.66 2,800.24 401.48
2017-09-30 3,581.32 2,747.97 535.98
2017-06-30 3,370.64 2,466.43 454.23
2017-03-31 3,154.53 2,433.65 480.64
2016-12-31 3,065.06 2,418.32 630.27
2016-09-30 2,957.30 2,469.58 643.55
2016-06-30 2,667.58 2,317.22 511.78
2016-03-31 2,402.04 2,284.80 649.58
2015-12-31 2,172.30 2,024.93 388.93
2015-09-30 2,051.00 2,062.47 608.71
2015-06-30 1,643.78 1,617.51 454.23
2015-03-31 1,538.44 1,216.17 202.61
2014-12-31 1,041.65 1,272.20 272.30
2014-09-30 948.13 1,089.70 313.04
2014-06-30 896.50 1,149.31 273.46
2014-03-31 839.57 846.71 201.56
2013-12-31 767.93 684.26 166.80
2013-09-30 479.82 681.95 165.17
2013-06-30 356.41 409.98 136.03
2013-03-31 202.94 288.47 85.85
2012-12-31 202.94 288.47 85.85
2012-09-30
2012-06-30 130.13 171.12 3.42
2012-03-31 130.13 171.12 3.42
  • Grand City Properties's level of debt (77.4%) 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 (141.2% vs 77.4% today).
  • Debt is not well covered by operating cash flow (6.4%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 6.1x coverage).
X
Financial health checks
We assess Grand City Properties'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. Grand City Properties 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.

Dividends

 What is Grand City Properties'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
3.29%
Current annual income from Grand City Properties dividends. Estimated to be 4.01% next year.
If you bought $2,000 of Grand City Properties shares you are expected to receive $66 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?
  • Grand City Properties's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.45%).
  • Grand City Properties's dividend is below the markets top 25% of dividend payers in United States of America (3.64%).
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:GRDD.Y 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 8 Analyst Estimates (S&P Global) See Below
United States of America Real Estate Industry Average Dividend Yield Market Cap Weighted Average of 18 Stocks 2.4%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2004 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 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

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

OTCPK:GRDD.Y Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31 1.02 1.00
2021-12-31 0.99 4.00
2020-12-31 0.91 14.00
2019-12-31 0.83 15.00
2018-12-31 0.77 13.00
OTCPK:GRDD.Y Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2018-06-28 0.730 3.393
2017-04-18 0.700 3.710
2016-08-17 0.250 1.469
2016-06-29 0.250 1.325
2015-08-18 0.200 1.086
2015-06-24 0.200 1.275

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

  • Whilst dividend payments have been stable, Grand City Properties has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Grand City Properties only paid a dividend in the past 4 years.
Current Payout to shareholders
What portion of Grand City Properties's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.7x coverage).
X
Income/ dividend checks
We assess Grand City Properties'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 Grand City Properties afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Grand City Properties has a total score of 3/6, 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 Grand City Properties'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
Christian Windfuhr
COMPENSATION €563,056
TENURE AS CEO 5.3 years
CEO Bio

Mr. Christian G. Windfuhr has been the Chief Executive Officer of Grand City Properties S.A. since November 2013 and also serves as its Member of Management Board. Mr. Windfuhr served as the Chief Executive Officer of GCH Hotels GmbH (formerly Grand City Hotels GmbH). Before joining the Grand City Group, he served as Chief Executive Officer of Maritim Hotels, with 12.000 rooms in over 40 hotels, primarily in Germany. He also served as Chief Executive Officer of Mövenpick Hotels. He achieved the financial turnaround of Mövenpick, drove international expansion, publicly listed the company and worked out a strategic partnership with Kingdom Holding (HRH Prince Alwaleed) and JP Morgan. He served in high positions in Holiday Inn International, Kempinski and Southern Sun Hotels. He served as the Chairman and Member of Advisory Board at Grand City Properties S.A. until November 2013. He served as a Director of TUI, the largest European tour operator, heading up their hotel activities. Mr. Windfuhr graduated at Cornell University.

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

Refael Zamir

TITLE
Chairman & CFO
COMPENSATION
€464K

Christian Windfuhr

TITLE
Chief Executive Officer
COMPENSATION
€563K
TENURE
5.3 yrs

Katrin Petersen

TITLE
Head of Communications

Kenan Wallenstein

TITLE
Director of Sales & Marketing

Dimo Diakov

TITLE
Head of IT Development

Or Zohar

TITLE
Director of Acquisition & Business Development
Board of Directors Tenure

Average tenure of the Grand City Properties board of directors in years:

5.8
Average Tenure
  • The tenure for the Grand City Properties board of directors is about average.
Board of Directors

Refael Zamir

TITLE
Chairman & CFO
COMPENSATION
€464K

Yakir Gabay

TITLE
Chairman of Advisory Board
TENURE
5.3 yrs

Andrew Wallis

TITLE
Vice Chairman of Advisory Board
AGE
50
TENURE
3.5 yrs

Simone Runge-Brandner

TITLE
Independent Director
COMPENSATION
€78K
TENURE
6.3 yrs

Daniel Malkin

TITLE
Independent Director
COMPENSATION
€78K
TENURE
6.3 yrs

Claudio Jarczyk

TITLE
Member of Advisory Board
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 ($) Value ($)
X
Management checks
We assess Grand City Properties'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. Grand City Properties 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

Grand City Properties S.A. invests in and manages real estate properties in Germany. The company engages in buying, re-developing, optimizing, and repositioning real estate properties in Berlin, North Rhine Westphalia, Dresden, Leipzig, Halle, Nuremberg, Munich, Mannheim, Frankfurt, Bremen, and Hamburg. Grand City Properties S.A. was incorporated in 2011 and is based in Luxembourg City, Luxembourg.

Details
Name: Grand City Properties S.A.
GRDD.Y
Exchange: OTCPK
Founded: 2011
€4,205,223,122
166,659,831
Website: http://www.grandcityproperties.com
Address: Grand City Properties S.A.
1, Avenue du Bois,
Luxembourg City,
1251,
Luxembourg
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
XTRA GYC Ordinary Shares XETRA Trading Platform DE EUR 29. May 2012
OTCPK GRNN.F Ordinary Shares Pink Sheets LLC US USD 29. May 2012
DB GYC Ordinary Shares Deutsche Boerse AG DE EUR 29. May 2012
LSE 0RPK Ordinary Shares London Stock Exchange GB EUR 29. May 2012
SWX GYC Ordinary Shares SIX Swiss Exchange CH CHF 29. May 2012
WBAG GYC Ordinary Shares Wiener Boerse AG AT EUR 29. May 2012
BATS-CHIXE GYCD Ordinary Shares BATS 'Chi-X Europe' GB EUR 29. May 2012
OTCPK GRDD.Y SPON ADR Pink Sheets LLC US USD 06. Feb 2018
Number of employees
Current staff
Staff numbers
798
Grand City Properties employees.
Industry
Real Estate Operating Companies
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/19 00:49
End of day share price update: 2018/12/19 00:00
Last estimates confirmation: 2019/03/18
Last earnings filing: 2018/11/19
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.