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Inmobiliaria Colonial SOCIMI

OTCPK:IMQC.F
Snowflake Description

Fair value second-rate dividend payer.

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

Colonial is a Spanish listed REIT company (SOCIMI), leader in the European Prime office market with presence in the main business areas of Barcelona, Madrid and Paris with a prime office portfolio of more than one million of sq m of GLA and assets under management with a value of more than €11bn. The last earnings update was 30 days ago. More info.


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IMQC.F Share Price and Events
7 Day Returns
0%
OTCPK:IMQC.F
-1.8%
US REITs
-1.4%
US Market
1 Year Returns
-
OTCPK:IMQC.F
-2.9%
US REITs
-3.7%
US Market
IMQC.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Inmobiliaria Colonial SOCIMI (IMQC.F) 0% 0% - - 1450.7% -
US REITs -1.8% 0.2% -2.3% -2.9% 9.2% 29.2%
US Market -1.4% -3.9% -11.6% -3.7% 28.1% 36%
1 Year Return vs Industry and Market
  • No trading data on IMQC.F.
  • No trading data on IMQC.F.
Price Volatility
IMQC.F
Industry
5yr Volatility vs Market

Value

 Is Inmobiliaria Colonial SOCIMI 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 Inmobiliaria Colonial SOCIMI 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 Inmobiliaria Colonial SOCIMI.

OTCPK:IMQC.F Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Funds From Operations
Levered Funds From Operations Average of 12 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.9%
Perpetual Growth Rate 10-Year US Government Bond Rate 3%

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:IMQC.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 3%
Equity Risk Premium S&P Global 7.1%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.49
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.486 (1 + (1- 25%) (135.98%))
0.982
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.98
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.95% + (0.982 * 7.05%)
9.87%

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

The calculations below outline how an intrinsic value for Inmobiliaria Colonial SOCIMI is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

Inmobiliaria Colonial SOCIMI 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:IMQC.F DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Funds From Operations (FFO) (EUR, Millions) 134.20 147.90 150.12 152.38 154.67
Source Analyst x1 Analyst x1 Est @ 1.5% Est @ 1.5% Est @ 1.5%
Present Value
Discounted (@ 9.87%)
122.14 122.52 113.19 104.57 96.61
Present value of next 5 years cash flows €559.04
OTCPK:IMQC.F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= €154.67 × (1 + 2.95%) ÷ (9.87% – 2.95%)
€2,301.17
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= €2,301.17 ÷ (1 + 9.87%)5
€1,437.34
OTCPK:IMQC.F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= €559.04 + €1,437.34
€1,996.38
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €1,996.38 / 450.50
€5.84
OTCPK:IMQC.F Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:IMQC.F represents 1.22006x of BME:COL
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.22006x
Value per Share
(Listing Adjusted, USD)
= Value per Share (EUR) x Listing Adjustment Factor
= € 4.79 x 1.22006
$5.84
Value per share (USD) From above. $5.84
Current discount Discount to share price of $10.70
= -1 x ($10.70 - $5.84) / $5.84
-83.2%

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

  • The current share price of Inmobiliaria Colonial SOCIMI 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 Inmobiliaria Colonial SOCIMI's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Inmobiliaria Colonial SOCIMI's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:IMQC.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in EUR €1.18
BME:COL Share Price ** BME (2018-09-17) in EUR €8.77
United States of America REITs Industry PE Ratio Median Figure of 155 Publicly-Listed REITs Companies 29.99x
United States of America Market PE Ratio Median Figure of 3,017 Publicly-Listed Companies 16.83x

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

** Primary Listing of Inmobiliaria Colonial SOCIMI.

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

= BME:COL Share Price ÷ EPS (both in EUR)

= 8.77 ÷ 1.18

7.42x

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

  • Inmobiliaria Colonial SOCIMI is good value based on earnings compared to the US REITs industry average.
  • Inmobiliaria Colonial SOCIMI is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Inmobiliaria Colonial SOCIMI's expected growth come at a high price?
Raw Data
OTCPK:IMQC.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.42x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts
-27.1%per year
United States of America REITs Industry PEG Ratio Median Figure of 143 Publicly-Listed REITs Companies 1.05x
United States of America Market PEG Ratio Median Figure of 2,104 Publicly-Listed Companies 1.17x

*Line of best fit is calculated by linear regression .

OTCPK:IMQC.F PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 7.42x ÷ -27.1%

-0.27x

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

  • Inmobiliaria Colonial SOCIMI 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 Inmobiliaria Colonial SOCIMI's assets?
Raw Data
OTCPK:IMQC.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in EUR €8.60
BME:COL Share Price * BME (2018-09-17) in EUR €8.77
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.68x
United States of America Market PB Ratio Median Figure of 5,075 Publicly-Listed Companies 1.71x
OTCPK:IMQC.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BME:COL Share Price ÷ Book Value per Share (both in EUR)

= 8.77 ÷ 8.60

1.02x

* Primary Listing of Inmobiliaria Colonial SOCIMI.

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

  • Inmobiliaria Colonial SOCIMI is good value based on assets compared to the US REITs industry average.
X
Value checks
We assess Inmobiliaria Colonial SOCIMI'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. Inmobiliaria Colonial SOCIMI 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 Inmobiliaria Colonial SOCIMI expected to perform in the next 1 to 3 years based on estimates from 12 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
-27.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Inmobiliaria Colonial SOCIMI expected to grow at an attractive rate?
  • Inmobiliaria Colonial SOCIMI's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 3%.
Growth vs Market Checks
  • Inmobiliaria Colonial SOCIMI's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • Inmobiliaria Colonial SOCIMI's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:IMQC.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:IMQC.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts -27.1%
OTCPK:IMQC.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 12 Analysts 8.6%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 0.4%
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 14.2%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*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:IMQC.F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:IMQC.F Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 455 228 296 5
2020-12-31 406 196 386 10
2019-12-31 391 198 767 12
2018-12-31 347 99 747 7
OTCPK:IMQC.F Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-09-30 332 510
2018-06-30 317 200 499
2018-03-31 298 689
2017-12-31 286 250 683
2017-09-30 281 479
2017-06-30 277 224 481
2017-03-31 278 279
2016-12-31 274 168 274
2016-09-30 270 451
2016-06-30 260 119 443
2016-03-31 245 421
2015-12-31 234 113 415

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Inmobiliaria Colonial SOCIMI's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Inmobiliaria Colonial SOCIMI's revenue is expected to grow by 8.6% 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:IMQC.F Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below

All data from Inmobiliaria Colonial SOCIMI Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:IMQC.F Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.58 0.78 0.38 2.00
2020-12-31 0.76 1.14 0.25 6.00
2019-12-31 1.36 1.76 1.00 4.00
2018-12-31 1.34 1.53 1.05 3.00
OTCPK:IMQC.F Past Financials Data
Date (Data in EUR Millions) EPS *
2018-09-30 1.18
2018-06-30 1.22
2018-03-31 1.75
2017-12-31 1.83
2017-09-30 1.30
2017-06-30 1.35
2017-03-31 0.78
2016-12-31 0.81
2016-09-30 1.37
2016-06-30 1.39
2016-03-31 1.30
2015-12-31 1.30

*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.
  • Inmobiliaria Colonial SOCIMI is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Inmobiliaria Colonial SOCIMI'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.
Inmobiliaria Colonial SOCIMI has a total score of 1/6, 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 Inmobiliaria Colonial SOCIMI 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 Inmobiliaria Colonial SOCIMI'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.
  • Inmobiliaria Colonial SOCIMI has delivered over 20% year on year earnings growth in the past 5 years.
  • Inmobiliaria Colonial SOCIMI's 1-year earnings growth is less than its 5-year average (6.5% vs 59.1%)
  • Inmobiliaria Colonial SOCIMI's earnings growth has not exceeded the US REITs industry average in the past year (6.5% vs 14%).
Earnings and Revenue History
Inmobiliaria Colonial SOCIMI'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 Inmobiliaria Colonial SOCIMI Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:IMQC.F Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 332.00 509.52 35.94
2018-06-30 316.77 499.24 30.32
2018-03-31 298.00 688.52 30.94
2017-12-31 286.00 682.52 28.94
2017-09-30 281.46 478.65 24.29
2017-06-30 277.30 481.24 23.75
2017-03-31 278.46 278.65 22.29
2016-12-31 274.46 273.65 22.29
2016-09-30 270.33 451.41 25.30
2016-06-30 259.96 442.56 22.31
2016-03-31 245.33 421.41 24.30
2015-12-31 234.33 415.41 23.30
2015-09-30 215.91 145.13 25.43
2015-06-30 221.56 138.03 21.70
2015-03-31 210.91 -173.87 33.43
2014-12-31 211.91 -208.87 25.43
2014-09-30 -80.83 -187.88 42.79
2014-06-30 221.13 -235.18 22.89
2014-03-31 -53.83 -168.88 18.79
2013-12-31 238.18 -141.88 18.79
2013-09-30 553.30 -787.84 -3.86
2013-06-30 247.35 -743.21 22.22
2013-03-31 539.30 -709.84 21.14
2012-12-31 251.30 -709.84 21.14
2012-09-30 248.91 -26.78 30.08
2012-06-30 250.65 -27.86 20.89
2012-03-31 255.06 2.45 21.38
2011-12-31 251.33 15.45 21.38

*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.
  • Inmobiliaria Colonial SOCIMI has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Inmobiliaria Colonial SOCIMI used its assets more efficiently than the US REITs industry average last year based on Return on Assets.
  • Inmobiliaria Colonial SOCIMI's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Inmobiliaria Colonial SOCIMI'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.
Inmobiliaria Colonial SOCIMI 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 Inmobiliaria Colonial SOCIMI'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 Inmobiliaria Colonial SOCIMI's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Inmobiliaria Colonial SOCIMI is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Inmobiliaria Colonial SOCIMI's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Inmobiliaria Colonial SOCIMI'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.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.2x 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 Inmobiliaria Colonial SOCIMI Company Filings, last reported 2 months ago.

OTCPK:IMQC.F Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 6,002.59 5,372.45 745.26
2018-06-30 6,002.59 5,372.45 745.26
2018-03-31 5,679.70 4,159.67 1,104.60
2017-12-31 5,679.70 4,159.67 1,104.60
2017-09-30 4,828.00 3,460.00 428.00
2017-06-30 4,779.41 3,539.24 218.88
2017-03-31 4,001.00 3,716.00 157.00
2016-12-31 4,007.92 3,629.06 105.20
2016-09-30 3,923.00 3,366.00
2016-06-30 3,927.57 3,271.89 122.85
2016-03-31 3,474.00 3,223.00 228.00
2015-12-31 3,449.47 3,217.21 217.78
2015-09-30 3,111.00 3,074.00
2015-06-30 3,091.12 3,069.06 296.86
2015-03-31 2,813.00 2,695.00 116.00
2014-12-31 2,798.95 2,687.21 125.96
2014-09-30 2,835.00 2,386.00
2014-06-30 2,817.44 2,758.13 175.38
2014-03-31 1,640.00 3,670.00 54.00
2013-12-31 928.83 3,623.88 53.56
2013-09-30 1,091.00 3,618.00
2013-06-30 1,134.28 3,683.84 57.85
2013-03-31 1,386.00 3,458.00 58.00
2012-12-31 1,391.97 3,802.74 69.02
2012-09-30 2,194.00 4,997.00
2012-06-30 2,195.51 3,608.77 32.71
2012-03-31 2,322.00 3,420.00 47.00
2011-12-31 2,331.02 3,542.18 65.93
  • Inmobiliaria Colonial SOCIMI's level of debt (89.5%) 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 (332.2% vs 89.5% today).
  • Debt is not well covered by operating cash flow (3.7%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 1.8x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Inmobiliaria Colonial SOCIMI'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. Inmobiliaria Colonial SOCIMI has a total score of 2/6, 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 Inmobiliaria Colonial SOCIMI'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
2.05%
Current annual income from Inmobiliaria Colonial SOCIMI dividends. Estimated to be 2.76% next year.
If you bought $2,000 of Inmobiliaria Colonial SOCIMI shares you are expected to receive $41 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?
  • Inmobiliaria Colonial SOCIMI's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.51%).
  • Inmobiliaria Colonial SOCIMI's dividend is below 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:IMQC.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 12 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 184 Stocks 4.2%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1983 Stocks 2.6%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.9%
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:IMQC.F Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.29 5.00
2020-12-31 0.26 11.00
2019-12-31 0.23 13.00
2018-12-31 0.20 8.00
OTCPK:IMQC.F Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2018-02-28 0.180 1.959
2017-03-01 0.165 2.116
2017-02-28 0.165 2.384

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

  • Whilst dividend payments have been stable, Inmobiliaria Colonial SOCIMI has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Inmobiliaria Colonial SOCIMI only paid a dividend in the past 2 years.
Current Payout to shareholders
What portion of Inmobiliaria Colonial SOCIMI's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (574.7x coverage).
X
Income/ dividend checks
We assess Inmobiliaria Colonial SOCIMI's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - 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 Inmobiliaria Colonial SOCIMI afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Inmobiliaria Colonial SOCIMI 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 Inmobiliaria Colonial SOCIMI'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
Pere Viñolas Serra
AGE 55
TENURE AS CEO 10.3 years
CEO Bio

Mr. Pere Viñolas Serra has been the Chief Executive Officer and Executive Director of Inmobiliaria Colonial, SOCIMI, S.A. (formerly, Inmobiliaria Colonial, S.A.) since September 2008. Mr. Viñolas Serra was hired in 1990 as Director of the Studies Service of the Barcelona Stock Exchange, where he later held the position of Deputy General Manager. In 1997, he was hired as Managing Director of FILO, S.A., a listed real estate company, where he remained until 2001. From then until 2008, he served as Partner and Chief Executive Officer at the Riva y García Financial Group. He is president of the Urban Land Institute in Spain, a full professor in the Finance Department of the Escuela Superior de Administración y Dirección de Empresas (ESADE). He was the president of the Spanish Institute of Financial Analysts in Catalonia from 1994 to 2000. Mr. Serra is a member of the Board of Directors of Société Foncière Lyonnaise and sits on its Executive Committee, as well as serving as a member of the Board of Directors of SIIC de Paris. He serves as member of the Board of Directors of the Riva y García Financial Group. He has been Executive Director of Inmobiliaria Colonial SA since July 18, 2008.

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

Average tenure and age of the Inmobiliaria Colonial SOCIMI management team in years:

9.3
Average Tenure
51
Average Age
  • The average tenure for the Inmobiliaria Colonial SOCIMI management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Juan Brugera Clavero

TITLE
Chairman & President
COMPENSATION
€669K
AGE
72

Pere Viñolas Serra

TITLE
CEO & Executive Director
AGE
55
TENURE
10.3 yrs

Àngels Arderiu Ibars

TITLE
Financial Director
AGE
51
TENURE
9.9 yrs

Alberto Alcober Teixido

TITLE
COO & Business Director
TENURE
9.9 yrs

Juan Ortega Moreno

TITLE
Commercial & Investment Director
TENURE
4 yrs

Jaume Solà

TITLE
Head of Corporate Development & IR

Nuria Coll

TITLE
Chief Legal Officer
AGE
43
TENURE
8.6 yrs

Richard Harvey

TITLE
Chief Compliance Officer
TENURE
4.3 yrs

Carlos Krohmer

TITLE
Director of Corporate Development
AGE
46
TENURE
9.9 yrs

Begoña López

TITLE
Director of Human Resources & General Services
TENURE
0.4 yrs
Board of Directors Tenure

Average tenure and age of the Inmobiliaria Colonial SOCIMI board of directors in years:

5
Average Tenure
59.5
Average Age
  • The tenure for the Inmobiliaria Colonial SOCIMI board of directors is about average.
Board of Directors

Pere Viñolas Serra

TITLE
CEO & Executive Director
AGE
55
TENURE
10.4 yrs

Ignacio Bayón Mariné

TITLE
Chairman of Société Fonciére Lyonnaise SIIC Paris
AGE
74

Juan Brugera Clavero

TITLE
Chairman & President
COMPENSATION
€669K
AGE
72
TENURE
10.5 yrs

Carlos Garralda

TITLE
Lead Independent Director
COMPENSATION
€265K
AGE
68

Ana de Vicuña Bemberg

TITLE
Independent Director
COMPENSATION
€117K
AGE
56
TENURE
4.5 yrs

Javier Iglesias de Ussel Ordís

TITLE
Independent Director
COMPENSATION
€200K
TENURE
10.5 yrs

Luis Trepat

TITLE
Independent Director
COMPENSATION
€126K
AGE
61
TENURE
5.4 yrs

Juan García Cañizares

TITLE
Proprietary Director
COMPENSATION
€133K
AGE
49
TENURE
4.5 yrs

Ali Bin Al-Thani

TITLE
Proprietary Director
COMPENSATION
€7K
AGE
58
TENURE
3.1 yrs

Adnane Mousannif

TITLE
Proprietary Director
TENURE
2.5 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 ($) Value ($)
29. May 18 Sell Carlos Garralda Individual 28. May 18 28. May 18 -10,000 $10.74 $-107,243
07. May 18 Buy Juan Brugera Clavero Individual 26. Apr 18 26. Apr 18 54,194 $11.51 $623,877
07. May 18 Sell Pere Viñolas Serra Individual 30. Apr 18 02. May 18 -61,819 $11.59 $-716,253
07. May 18 Buy Pere Viñolas Serra Individual 26. Apr 18 26. Apr 18 140,906 $11.51 $1,622,099
03. May 18 Sell Pere Viñolas Serra Individual 30. Apr 18 02. May 18 -61,819 $11.59 $-716,253
03. May 18 Buy Pere Viñolas Serra Individual 26. Apr 18 26. Apr 18 140,906 $11.51 $1,622,099
X
Management checks
We assess Inmobiliaria Colonial SOCIMI'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. Inmobiliaria Colonial SOCIMI 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

External News
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Company Info

Map
Description

Colonial is a Spanish listed REIT company (SOCIMI), leader in the European Prime office market with presence in the main business areas of Barcelona, Madrid and Paris with a prime office portfolio of more than one million of sq m of GLA and assets under management with a value of more than €11bn.

Details
Name: Inmobiliaria Colonial, SOCIMI, S.A.
IMQC.F
Exchange: OTCPK
Founded: 1946
€4,462,293,187
450,503,351
Website: http://www.inmocolonial.com
Address: Inmobiliaria Colonial, SOCIMI, S.A.
Paseo de la Castellana, 52,
Madrid,
Madrid, 08006,
Spain
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BME COL Ordinary Shares Bolsas y Mercados Espanoles ES EUR 02. Jan 1992
OTCPK IMQC.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
DB HSC2 Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
LSE 0RID Ordinary Shares London Stock Exchange GB EUR 02. Jan 1992
WBAG COL Ordinary Shares Wiener Boerse AG AT EUR 02. Jan 1992
BMV COL N Ordinary Shares Bolsa Mexicana de Valores MX MXN 02. Jan 1992
BATS-CHIXE COLE Ordinary Shares BATS 'Chi-X Europe' GB EUR 02. Jan 1992
BME COL EUR2.5 Bolsas y Mercados Espanoles ES EUR 15. Dec 2018
Number of employees
Current staff
Staff numbers
191
Inmobiliaria Colonial SOCIMI employees.
Industry
Office REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2018/12/15 23:53
End of day share price update: 2018/09/17 00:00
Last estimates confirmation: 2018/12/11
Last earnings filing: 2018/11/15
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.