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Hammerson

OTCPK:HMSN.F
Snowflake Description

Fair value with moderate growth potential.

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

We are an owner, manager and developer of retail destinations in Europe. The last earnings update was 66 days ago. More info.


Add to Portfolio Compare Print
  • Hammerson has significant price volatility in the past 3 months.
HMSN.F Share Price and Events
7 Day Returns
0%
OTCPK:HMSN.F
-0.3%
US REITs
-2.1%
US Market
1 Year Returns
-
OTCPK:HMSN.F
13.8%
US REITs
1.3%
US Market
HMSN.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Hammerson (HMSN.F) 0% -8.6% -20.2% - -54.4% -59.4%
US REITs -0.3% 2.4% 3.2% 13.8% 11.3% 25.6%
US Market -2.1% -4.2% 0% 1.3% 33.5% 38%
1 Year Return vs Industry and Market
  • No trading data on HMSN.F.
  • No trading data on HMSN.F.
Price Volatility
HMSN.F
Industry
5yr Volatility vs Market

Value

 Is Hammerson 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 Hammerson 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 Hammerson.

OTCPK:HMSN.F Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 5x Analysts Estimates of Net Asset Value
Discount Rate (Cost of Equity) See below 10.2%
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:HMSN.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6.7%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.53
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.529 (1 + (1- 19%) (151.24%))
1.119
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% + (1.119 * 6.65%)
10.17%

Discounted Cash Flow Calculation for OTCPK:HMSN.F using 5x Analysts Estimates of Net Asset Value Model

In the case of Real Estate Investment Trusts (REITs) like Hammerson our preference is to use estimates of Adjusted Funds from Operations (AFFO) to calculate the intrinsic value using a discounted cash flow calculation.

However, in the case of Hammerson these estimates are not available, instead we are able to use analyst estimates of Net Asset Value (NAV).

The Net Asset Value (NAV) model is the most common intrinsic valuation methodology for REITs. The underlying idea is that you can value a REIT by valuing its real estate assets and then adjusting for its other assets and subtracting liabilities.

See our documentation to learn about this calculation.

OTCPK:HMSN.F Net Asset Value (NAV)
Calculation Result
Average NAV from 5 analysts: GBP4,972.44 = GBP4,972.44 / 765 GBP9.31
OTCPK:HMSN.F Discount to Share Price
Calculation Result
Value per share (USD) From above. $9.31
Current discount Discount to share price of $3.92
= -1 x ($3.92 - $9.31) / $9.31
57.9%

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

Current Discount
Amount off the current price Hammerson is available for.
Intrinsic value
>50%
Share price is $3.92 vs Future cash flow value of $9.31
Current Discount Checks
For Hammerson to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Hammerson's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Hammerson's share price is below the future cash flow value, and 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 Hammerson's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Hammerson's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:HMSN.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in GBP £-0.34
LSE:HMSO Share Price ** LSE (2019-05-08) in GBP £2.74
United States of America REITs Industry PE Ratio Median Figure of 155 Publicly-Listed REITs Companies 32.62x
United States of America Market PE Ratio Median Figure of 3,082 Publicly-Listed Companies 17.36x

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

** Primary Listing of Hammerson.

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

= LSE:HMSO Share Price ÷ EPS (both in GBP)

= 2.74 ÷ -0.34

-8.03x

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

  • Hammerson is loss making, we can't compare its value to the US REITs industry average.
  • Hammerson is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Hammerson's expected growth come at a high price?
Raw Data
OTCPK:HMSN.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -8.03x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts
59.9%per year
United States of America REITs Industry PEG Ratio Median Figure of 141 Publicly-Listed REITs Companies 2.39x
United States of America Market PEG Ratio Median Figure of 2,120 Publicly-Listed Companies 1.5x

*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 Hammerson, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Hammerson's assets?
Raw Data
OTCPK:HMSN.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in GBP £7.10
LSE:HMSO Share Price * LSE (2019-05-08) in GBP £2.74
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 5,207 Publicly-Listed Companies 1.8x
OTCPK:HMSN.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= LSE:HMSO Share Price ÷ Book Value per Share (both in GBP)

= 2.74 ÷ 7.10

0.39x

* Primary Listing of Hammerson.

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

  • Hammerson is good value based on assets compared to the US REITs industry average.
X
Value checks
We assess Hammerson'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. Hammerson 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 Hammerson expected to perform in the next 1 to 3 years based on estimates from 10 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
59.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Hammerson expected to grow at an attractive rate?
  • Hammerson's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Hammerson's earnings growth is expected to exceed the United States of America market average.
  • Hammerson's revenues are expected to decrease over the next 1-3 years, this is below the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:HMSN.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:HMSN.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts 59.9%
OTCPK:HMSN.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 10 Analysts -8.2%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 5.7%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.7%
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:HMSN.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 10 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:HMSN.F Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 332 450 2
2022-12-31 333 241 341 3
2021-12-31 324 267 303 7
2020-12-31 335 256 183 8
2019-12-31 359 290 -217 8
OTCPK:HMSN.F Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2018-12-31 460 115 -268
2018-09-30 463 140 -56
2018-06-30 452 165 157
2018-03-31 459 152 273
2017-12-31 480 139 388
2017-09-30 483 155 415
2017-06-30 486 170 442
2017-03-31 473 175 380
2016-12-31 460 180 317
2016-09-30 439 190 440
2016-06-30 417 200 563
2016-03-31 406 186 645

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Hammerson's earnings are expected to grow significantly at over 20% yearly.
  • Hammerson's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
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:HMSN.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 10 Analyst Estimates (S&P Global) See Below

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

OTCPK:HMSN.F Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.44 0.69 0.22 4.00
2020-12-31 0.28 0.37 0.19 4.00
2019-12-31 -0.52 -0.16 -0.72 5.00
OTCPK:HMSN.F Past Financials Data
Date (Data in GBP Millions) EPS *
2018-12-31 -0.34
2018-09-30 -0.07
2018-06-30 0.20
2018-03-31 0.34
2017-12-31 0.49
2017-09-30 0.52
2017-06-30 0.56
2017-03-31 0.48
2016-12-31 0.40
2016-09-30 0.56
2016-06-30 0.72
2016-03-31 0.82

*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.
  • Hammerson is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Hammerson'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.
Hammerson has a total score of 3/6, 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 Hammerson 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 Hammerson'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.
  • Hammerson does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Hammerson's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Hammerson's 1-year growth to the US REITs industry average as it is not currently profitable.
Earnings and Revenue History
Hammerson'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 Hammerson Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:HMSN.F Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 459.70 -268.10 69.60
2018-09-30 462.60 -55.55 70.20
2018-06-30 451.80 157.00 57.10
2018-03-31 458.80 272.70 58.80
2017-12-31 479.50 388.40 74.20
2017-09-30 482.75 415.15 70.60
2017-06-30 486.00 441.90 67.00
2017-03-31 473.20 379.60 60.65
2016-12-31 460.40 317.30 54.30
2016-09-30 438.50 440.25 51.80
2016-06-30 416.60 563.20 49.30
2016-03-31 405.90 645.00 48.70
2015-12-31 395.20 726.80 48.10
2015-09-30 393.20 695.25 48.15
2015-06-30 391.20 663.70 48.20
2015-03-31 376.05 681.40 48.55
2014-12-31 360.90 699.10 48.90
2014-09-30 355.45 652.50 47.25
2014-06-30 350.00 605.90 45.60
2014-03-31 353.45 468.95 47.10
2013-12-31 356.90 332.00 48.60
2013-09-30 360.10 248.50 42.55
2013-06-30 363.30 165.00 36.50
2013-03-31 365.35 127.35 26.95
2012-12-31 367.40 89.70 17.40
2012-09-30 364.85 111.75 17.20
2012-06-30 362.30 133.80 17.00

*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.
  • It is difficult to establish if Hammerson has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Hammerson has efficiently used its assets last year compared to the US REITs industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Hammerson improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Hammerson'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.
Hammerson has a total score of 0/6, 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 Hammerson'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 Hammerson's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Hammerson's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Hammerson's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Hammerson'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 0.1x 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 Hammerson Company Filings, last reported 4 months ago.

OTCPK:HMSN.F Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 5,432.90 3,167.00 31.20
2018-09-30 5,432.90 3,167.00 31.20
2018-06-30 5,956.00 3,408.10 30.30
2018-03-31 5,956.00 3,408.10 30.30
2017-12-31 6,037.50 3,491.90 205.90
2017-09-30 6,037.50 3,491.90 205.90
2017-06-30 6,085.80 3,828.40 52.10
2017-03-31 6,085.80 3,828.40 52.10
2016-12-31 5,857.00 3,533.80 74.10
2016-09-30 5,857.00 3,533.80 74.10
2016-06-30 5,761.30 3,565.40 173.50
2016-03-31 5,761.30 3,565.40 173.50
2015-12-31 5,586.30 3,060.60 36.90
2015-09-30 5,586.30 3,060.60 36.90
2015-06-30 5,258.20 2,287.00 23.60
2015-03-31 5,258.20 2,287.00 23.60
2014-12-31 5,045.10 2,320.10 28.50
2014-09-30 5,045.10 2,320.10 28.50
2014-06-30 4,397.60 2,410.40 27.50
2014-03-31 4,397.60 2,410.40 27.50
2013-12-31 4,136.60 2,298.90 15.70
2013-09-30 4,136.60 2,298.90 15.70
2013-06-30 3,968.60 2,324.70 62.00
2013-03-31 3,968.60 2,324.70 62.00
2012-12-31 3,925.70 2,084.30 45.10
2012-09-30 3,925.70 2,084.30 45.10
2012-06-30 3,878.60 1,936.00 48.30
  • Hammerson's level of debt (58.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (55.6% vs 58.3% today).
  • Debt is not well covered by operating cash flow (3.6%, less than 20% of total debt).
  • Hammerson is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess Hammerson'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. Hammerson 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 Hammerson'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
9.46%
Current annual income from Hammerson dividends. Estimated to be 9.23% next year.
If you bought $2,000 of Hammerson shares you are expected to receive $189 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?
  • Hammerson's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.47%).
  • Hammerson's dividend is above the markets top 25% of dividend payers in United States of America (3.76%).
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:HMSN.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 10 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 184 Stocks 3.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2008 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 3.8%

Industry and Market average data is calculated daily.

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

OTCPK:HMSN.F Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 0.21 2.00
2022-12-31 0.23 3.00
2021-12-31 0.25 17.00
2020-12-31 0.26 19.00
2019-12-31 0.26 18.00
OTCPK:HMSN.F Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2019-02-25 0.259 7.767
2018-07-24 0.259 6.280
2018-02-26 0.255 4.869
2017-07-26 0.246 4.674
2017-02-20 0.240 4.108
2016-09-02 0.229 4.086
2016-03-07 0.223 3.963
2016-02-15 0.223 4.025
2015-03-16 0.204 3.245
2015-02-16 0.204 3.047
2014-07-24 0.196 3.207
2014-03-14 0.191 3.307
2014-02-17 0.191 3.341
2013-07-29 0.183 3.583
2013-03-01 0.177 3.451
2012-03-19 0.166 3.650
2012-02-24 0.166 4.079
2011-03-14 0.160 3.861
2011-02-21 0.160 3.484
2010-03-15 0.155 3.951
2010-02-22 0.155 3.946

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

  • Whilst dividend payments have been stable, Hammerson has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Hammerson only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Hammerson's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.1x coverage).
X
Income/ dividend checks
We assess Hammerson'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 Hammerson afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Hammerson 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 Hammerson'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
David Atkins
COMPENSATION £1,155,000
AGE 52
TENURE AS CEO 9.6 years
CEO Bio

Mr. David John Atkins, BSc, MRICS, has been Chief Executive Officer of Hammerson PLC since October 1, 2009 and served as its Managing Director of UK Retail since January 1, 2007. Mr. Atkins served as the President of Revo (formerly-British Council of Shopping Centres). He served as Head of Retail - UK of Hammerson plc since 2005 and took responsibility for all of the Group's UK retail properties. He joined Hammerson in 1998 to focus on strategic planning and corporate acquisitions. He served as Chairman of the European Public Real Estate Association (EPRA). He served as Director of Retail Parks , following Hammerson's acquisition of Grantchester Holdings. since 2002. Mr. Atkins began his career with DTZ where he worked on major retail and office investment acquisitions and disposals for clients including the BP Pension Fund, Glaxo Smithkline and a number of private overseas investors. He has been a Non-Executive Director of Whitbread PLC since January 01, 2017. Mr. Atkins has been an Executive Director of Hammerson plc since January 1, 2007 and its Director of UK since 2005. He serves as a Member of Advisory Board at Revo (formerly-British Council of Shopping Centres). He was a member of the British Property Federation. He holds graduating from Reading University.

CEO Compensation
  • David's compensation has been consistent with company performance over the past year, both up more than 20%.
  • David's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Hammerson management team in years:

5.5
Average Tenure
54
Average Age
  • The average tenure for the Hammerson management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

David Atkins

TITLE
CEO & Director
COMPENSATION
£1M
AGE
52
TENURE
9.6 yrs

Jean-Philippe Mouton

TITLE
Managing Director of France
COMPENSATION
£769K
AGE
56
TENURE
10.3 yrs

Peter William Cole

TITLE
Consultant
COMPENSATION
£986K
AGE
59
TENURE
0.1 yrs

Sarah Booth

TITLE
General Counsel & Company Secretary
AGE
51
TENURE
9.2 yrs

Catrin Sharp

TITLE
Head of Corporate Communications
TENURE
5.3 yrs

Stephen Brown

TITLE
Group Marketing & Communications Director
TENURE
1.4 yrs

Mark Duhig

TITLE
Human Resources Director
TENURE
4.7 yrs

Louise Ellison

TITLE
Group Head of Sustainability
TENURE
5.7 yrs

Sophie Ross

TITLE
Head of Multichannel
TENURE
5.2 yrs

Fiona Campbell-Roberts

TITLE
Uk Head of Marketing
TENURE
6.3 yrs
Board of Directors Tenure

Average tenure and age of the Hammerson board of directors in years:

5.1
Average Tenure
55
Average Age
  • The tenure for the Hammerson board of directors is about average.
Board of Directors

David Tyler

TITLE
Chairman of the Board
COMPENSATION
£343K
AGE
65
TENURE
6 yrs

David Atkins

TITLE
CEO & Director
COMPENSATION
£1M
AGE
52
TENURE
12.3 yrs

Gwyn Burr

TITLE
Senior Independent Director
COMPENSATION
£83K
AGE
55
TENURE
0.3 yrs

Pierre Bruno Bouchut

TITLE
Non-Executive Director
COMPENSATION
£92K
AGE
63
TENURE
4.3 yrs

Andrew Formica

TITLE
Non-Executive Director
COMPENSATION
£66K
AGE
47
TENURE
3.5 yrs

Judy Gibbons

TITLE
Non-Executive Director
COMPENSATION
£73K
AGE
61
TENURE
8 yrs

Timon Drakesmith

TITLE
Director
COMPENSATION
£785K
AGE
52
TENURE
7.9 yrs

Carol Welch

TITLE
Non-Executive Director
TENURE
0.2 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Hammerson insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
14. May 19 Buy David Atkins Individual 14. May 19 14. May 19 17,000 $3.81 $64,772
31. May 18 Sell Jean-Philippe Mouton Individual 30. May 18 30. May 18 -44,471 $7.34 $-326,580
X
Management checks
We assess Hammerson'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. Hammerson 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

We are an owner, manager and developer of retail destinations in Europe. Our portfolio includes investments in 22 prime shopping centres in the UK, Ireland and France, 15 convenient retail parks in the UK and 20 premium outlets across Europe.

Details
Name: Hammerson plc
HMSN.F
Exchange: OTCPK
Founded: 2008
£2,656,495,229
764,785,378
Website: http://www.hammerson.com
Address: Hammerson plc
Kings Place,
90 York Way,
London,
East Lothian, N1 9GE,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE HMSO Ordinary Shares London Stock Exchange GB GBP 02. Jan 1992
OTCPK HMSN.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
DB H2V Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
JSE HMN Ordinary Shares The Johannesburg Securities Exchange ZA ZAR 02. Jan 1992
BATS-CHIXE HMSOL Ordinary Shares BATS 'Chi-X Europe' GB GBP 02. Jan 1992
Number of employees
Current staff
Staff numbers
533
Hammerson employees.
Industry
Retail REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/24 23:58
End of day share price update: 2019/05/08 00:00
Last estimates confirmation: 2019/05/22
Last earnings filing: 2019/03/19
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.