OTCPK:LARE.F

Stock Analysis Report

Lar España Real Estate SOCIMI

Executive Summary

LAR ESPAÑA REAL ESTATE SOCIMI S.A. is a company that trades on the Spanish Stock Market, incorporated as a SOCIMI "Sociedad Anónima Cotizada de Inversión en el Mercado Inmobiliaria" (Listed Corporation for Investment in the Real Estate Market) in March 2014.

Snowflake

Fundamentals

Good value with acceptable track record.


Similar Companies

Share Price & News

How has Lar España Real Estate SOCIMI's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

0%

LARE.F

1.5%

US REITs

0.4%

US Market


1 Year Return

n/a

LARE.F

19.9%

US REITs

6.9%

US Market

Return vs Industry: Insufficient data to determine how LARE.F performed against the US REITs industry.

Return vs Market: Insufficient data to determine how LARE.F performed against the US Market.


Shareholder returns

LARE.FIndustryMarket
7 Day0%1.5%0.4%
30 Day21.8%1.6%-1.1%
90 Dayn/a7.8%-0.5%
1 Yearn/a25.2%19.9%9.3%6.9%
3 Year19.3%19.3%36.0%18.6%45.8%36.4%
5 Yearn/a64.7%30.0%62.9%45.1%

Price Volatility Vs. Market

How volatile is Lar España Real Estate SOCIMI's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Lar España Real Estate SOCIMI undervalued compared to its fair value and its price relative to the market?

13.3%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: LARE.F ($8.72) is trading below our estimate of fair value ($10.05)

Significantly Undervalued: LARE.F is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: LARE.F is good value based on its PE Ratio (6.5x) compared to the REITs industry average (36.2x).

PE vs Market: LARE.F is good value based on its PE Ratio (6.5x) compared to the US market (17.6x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: LARE.F is good value based on its PB Ratio (0.8x) compared to the US REITs industry average (2x).


Next Steps

Future Growth

How is Lar España Real Estate SOCIMI forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

-18.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: LARE.F's earnings are forecast to decline over the next 3 years (-18.9% per year).

Earnings vs Market: LARE.F's earnings are forecast to decline over the next 3 years (-18.9% per year).

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

Revenue vs Market: LARE.F's revenue (5.6% per year) is forecast to grow slower than the US market (7.2% per year).

High Growth Revenue: LARE.F's revenue (5.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: LARE.F's Return on Equity is forecast to be low in 3 years time (4.8%).


Next Steps

Past Performance

How has Lar España Real Estate SOCIMI performed over the past 5 years?

37.0%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: LARE.F's earnings have grown significantly by 37% per year over the past 5 years.

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

Earnings vs Industry: LARE.F had negative earnings growth (-0.3%) over the past year, making it difficult to compare to the REITs industry average (17.6%).


Return on Equity

High ROE: LARE.F's Return on Equity (12.1%) is considered low.


Return on Assets

ROA vs Industry: LARE.F has a higher Return on Assets than the REITs industry average last year.


Return on Capital Employed

ROCE Improving: LARE.F has significantly improved its Return on Capital Employed over the past 3 years.


Next Steps

Financial Health

How is Lar España Real Estate SOCIMI's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: LARE.F has a high level of physical assets or inventory.

Debt Coverage by Assets: LARE.F's debt is not covered by short term assets (assets are 0.3x debt).


Financial Institutions Analysis

Asset Level: LARE.F's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if LARE.F has a sufficient allowance for bad loans.

Low Risk Liabilities: LARE.F reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if LARE.F has an acceptable proportion of non-loan assets held.

Low Risk Deposits: LARE.F has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if LARE.F has an appropriate level of bad loans.


Next Steps

Dividend

What is Lar España Real Estate SOCIMI's current dividend yield, its reliability and sustainability?

10.01%

Current Dividend Yield


Dividend Yield vs Market

company10.0%marketbottom25%1.4%markettop25%3.7%industryaverage3.6%forecastin3Years7.2%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: LARE.F's dividend (10.01%) is higher than the bottom 25% of dividend payers in the US market (1.45%).

High Dividend: LARE.F's dividend (10.01%) is in the top 25% of dividend payers in the US market (3.73%)

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

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


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (347.6%), LARE.F's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: LARE.F's dividends in 3 years are forecast to be thoroughly covered by earnings (1% payout ratio).


Next Steps

Management

What is the CEO of Lar España Real Estate SOCIMI's salary, the management and board of directors tenure and is there insider trading?

5.7yrs

Average board tenure


CEO

Miguel Pereda Espeso 0

0yrs

Tenure

0

Mr. Miguel Pereda Espeso serves as General Director's Adviser at Inversions Inmobiliarias Lar, S.A. (Grupo Lar). Mr. Pereda served as Managing Director of Grupo Lar since June 2000. Mr. Pereda has been wit ...


Board Age and Tenure

5.7yrs

Average Tenure

62yo

Average Age

Experienced Board: LARE.F's board of directors are considered experienced (5.7 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Buy€39,08428 May 19
Miguel Pereda Espeso
EntityIndividual
Role
Chief Executive Officer
Acting CEO & Director
Shares5,000
Max Price€7.82
Buy€11,22021 May 19
Isabel Aguilera Navarro
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares1,420
Max Price€7.90
Buy€6,85808 Apr 19
Leticia Iglesias Herraiz
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares800
Max Price€8.57

Ownership Breakdown


Management Team

  • Miguel Pereda Espeso

    Acting CEO & Director

    • Tenure: 0yrs
  • Juan Gómez-Acebo Sáenz de Heredia

    Secretary of the Board

    • Tenure: 0yrs
  • Jon Armentia

    Corporate & Financial Director

    • Tenure: 0yrs
  • Susana Guerrero

    Legal Manager & Vice Secretary

    • Tenure: 0yrs
  • Hernán San Pedro

    Head of Investor Relations

    • Tenure: 3.8yrs
  • Jose Manuel Llovet

    MD Retail

    • Tenure: 0yrs

Board Members

  • José Luis del Valle Doblado (65yo)

    Non-Executive Independent Chairman

    • Tenure: 5.7yrs
    • Compensation: €105.00k
  • Isabel Aguilera Navarro (59yo)

    Independent Director

    • Tenure: 2.4yrs
  • Alec Emmott (72yo)

    Independent Director

    • Tenure: 5.7yrs
    • Compensation: €80.31k
  • Laurent Luccioni (47yo)

    Proprietary Director

    • Tenure: 2.4yrs
  • Miguel Pereda Espeso

    Acting CEO & Director

    • Tenure: 0yrs
  • Roger Cooke

    Independent Director

    • Tenure: 5.7yrs
    • Compensation: €75.93k
  • Leticia Iglesias Herraiz

    Independent Director

    • Tenure: 1yrs

Company Information

Lar España Real Estate SOCIMI, S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Lar España Real Estate SOCIMI, S.A.
  • Ticker: LARE.F
  • Exchange: OTCPK
  • Founded:
  • Industry: Diversified REITs
  • Sector: Real Estate
  • Market Cap: €718.187m
  • Listing Market Cap: €800.030m
  • Shares outstanding: 89.89m
  • Website: https://www.larespana.com

Number of Employees


Location

  • Lar España Real Estate SOCIMI, S.A.
  • C/ Rosario Pino 14-16
  • 8th Floor
  • Madrid
  • 28020
  • Spain

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
LREBME (Bolsas y Mercados Espanoles)YesBearer SharesESEURMar 2014
LREEBATS-CHIXE (BATS 'Chi-X Europe')YesBearer SharesGBEURMar 2014
0QRLLSE (London Stock Exchange)YesBearer SharesGBEURMar 2014
LARE.FOTCPK (Pink Sheets LLC)YesBearer SharesUSUSDMar 2014
L8EDB (Deutsche Boerse AG)YesBearer SharesDEEURMar 2014

Biography

LAR ESPAÑA REAL ESTATE SOCIMI S.A. is a company that trades on the Spanish Stock Market, incorporated as a SOCIMI "Sociedad Anónima Cotizada de Inversión en el Mercado Inmobiliaria" (Listed Corporation for ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/20 00:38
End of Day Share Price2019/10/11 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.