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Northview Apartment Real Estate Investment Trust

OTCPK:NPRU.F
Snowflake Description

Established dividend payer and fair value.

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

Northview is one of Canada's largest publicly traded multi-family REITs with a portfolio of approximately 27,000 residential units and 1.2 million square feet of commercial space in over 60 markets across eight provinces and two territories. The last earnings update was 16 days ago. More info.


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NPRU.F Share Price and Events
7 Day Returns
-0.5%
OTCPK:NPRU.F
-0.3%
US REITs
-2.1%
US Market
1 Year Returns
-6.1%
OTCPK:NPRU.F
13.8%
US REITs
1.3%
US Market
NPRU.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Northview Apartment Real Estate Investment Trust (NPRU.F) -0.5% -2.7% -2.4% -6.1% 26.8% -20.2%
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
  • NPRU.F underperformed the REITs industry which returned 13.8% over the past year.
  • NPRU.F underperformed the Market in United States of America which returned 1.3% over the past year.

Value

 Is Northview Apartment Real Estate Investment Trust 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 Northview Apartment Real Estate Investment Trust 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 Northview Apartment Real Estate Investment Trust.

OTCPK:NPRU.F Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.8%
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:NPRU.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
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- 26.5%) (128%))
1.018
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.02
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.018 * 5.96%)
8.8%

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

The calculations below outline how an intrinsic value for Northview Apartment Real Estate Investment Trust 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.

Northview Apartment Real Estate Investment Trust 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:NPRU.F DCF 1st Stage: Next 10 year cash flow forecast
Adjusted Funds From Operations (AFFO) (CAD, Millions) Source Present Value
Discounted (@ 8.8%)
2019 115.20 Analyst x4 105.89
2020 124.46 Analyst x4 105.14
2021 129.29 Est @ 3.89% 100.39
2022 133.87 Est @ 3.54% 95.54
2023 138.28 Est @ 3.3% 90.71
2024 142.61 Est @ 3.13% 85.98
2025 146.89 Est @ 3.01% 81.40
2026 151.19 Est @ 2.92% 77.01
2027 155.52 Est @ 2.87% 72.81
2028 159.92 Est @ 2.83% 68.81
Present value of next 10 years cash flows CA$883.68
OTCPK:NPRU.F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CA$159.92 × (1 + 2.73%) ÷ (8.8% – 2.73%)
CA$2,707.07
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CA$2,707.07 ÷ (1 + 8.8%)10
CA$1,164.84
OTCPK:NPRU.F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CA$883.68 + CA$1,164.84
CA$2,048.52
Equity Value per Share
(CAD)
= Total value / Shares Outstanding
= CA$2,048.52 / 65.17
CA$31.4
OTCPK:NPRU.F Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:NPRU.F represents 0.74335x of TSX:NVU.UN
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.74335x
Value per Share
(Listing Adjusted, USD)
= Value per Share (CAD) x Listing Adjustment Factor
= CA$ 31.40 x 0.74335
$23.34
Value per share (USD) From above. $23.34
Current discount Discount to share price of $20.10
= -1 x ($20.10 - $23.34) / $23.34
13.9%

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

Current Discount
Amount off the current price Northview Apartment Real Estate Investment Trust is available for.
Intrinsic value
14%
Share price is $20.1 vs Future cash flow value of $23.34
Current Discount Checks
For Northview Apartment Real Estate Investment Trust to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Northview Apartment Real Estate Investment Trust's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Northview Apartment Real Estate Investment Trust's share price is below the future cash flow value, but not 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 Northview Apartment Real Estate Investment Trust's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Northview Apartment Real Estate Investment Trust's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:NPRU.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in CAD CA$4.48
TSX:NVU.UN Share Price ** TSX (2019-05-23) in CAD CA$27.04
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 Northview Apartment Real Estate Investment Trust.

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

= TSX:NVU.UN Share Price ÷ EPS (both in CAD)

= 27.04 ÷ 4.48

6.04x

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

  • Northview Apartment Real Estate Investment Trust is good value based on earnings compared to the US REITs industry average.
  • Northview Apartment Real Estate Investment Trust is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Northview Apartment Real Estate Investment Trust's expected growth come at a high price?
Raw Data
OTCPK:NPRU.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 6.04x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
-12.8%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 Northview Apartment Real Estate Investment Trust, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Northview Apartment Real Estate Investment Trust's assets?
Raw Data
OTCPK:NPRU.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in CAD CA$28.52
TSX:NVU.UN Share Price * TSX (2019-05-23) in CAD CA$27.04
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:NPRU.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:NVU.UN Share Price ÷ Book Value per Share (both in CAD)

= 27.04 ÷ 28.52

0.95x

* Primary Listing of Northview Apartment Real Estate Investment Trust.

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

  • Northview Apartment Real Estate Investment Trust is good value based on assets compared to the US REITs industry average.
X
Value checks
We assess Northview Apartment Real Estate Investment Trust'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. Northview Apartment Real Estate Investment Trust 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 Northview Apartment Real Estate Investment Trust expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

  • No analysts cover Northview Apartment Real Estate Investment Trust, future earnings growth has been estimated based on fundamentals.
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
-12.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Northview Apartment Real Estate Investment Trust expected to grow at an attractive rate?
  • Northview Apartment Real Estate Investment Trust'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
  • Northview Apartment Real Estate Investment Trust's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • Northview Apartment Real Estate Investment Trust's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:NPRU.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:NPRU.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts -12.8%
OTCPK:NPRU.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 4.2%
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:NPRU.F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:NPRU.F Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 405 134 4
2019-12-31 391 127 4
OTCPK:NPRU.F Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-03-31 373 143 253
2018-12-31 365 139 290
2018-09-30 356 130 193
2018-06-30 346 111 149
2018-03-31 339 99 235
2017-12-31 332 91 212
2017-09-30 329 86 191
2017-06-30 329 96 201
2017-03-31 328 94 73
2016-12-31 333 98 77
2016-09-30 323 73 55
2016-06-30 288 69 11

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Northview Apartment Real Estate Investment Trust's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Northview Apartment Real Estate Investment Trust's revenue is expected to grow by 4.2% 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:NPRU.F Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from Northview Apartment Real Estate Investment Trust Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:NPRU.F Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31
2019-12-31
OTCPK:NPRU.F Past Financials Data
Date (Data in CAD Millions) EPS *
2019-03-31 4.48
2018-12-31 5.15
2018-09-30 3.43
2018-06-30 2.65
2018-03-31 4.60
2017-12-31 4.15
2017-09-30 3.83
2017-06-30 4.02
2017-03-31 1.46
2016-12-31 1.55
2016-09-30 1.18
2016-06-30 0.24

*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.
  • Unable to establish if Northview Apartment Real Estate Investment Trust will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Northview Apartment Real Estate Investment Trust'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.
Northview Apartment Real Estate Investment Trust 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 Northview Apartment Real Estate Investment Trust 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 Northview Apartment Real Estate Investment Trust'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.
  • Northview Apartment Real Estate Investment Trust has delivered over 20% year on year earnings growth in the past 5 years.
  • Northview Apartment Real Estate Investment Trust's 1-year earnings growth is less than its 5-year average (7.6% vs 34.4%)
  • Northview Apartment Real Estate Investment Trust's earnings growth has not exceeded the US REITs industry average in the past year (7.6% vs 16%).
Earnings and Revenue History
Northview Apartment Real Estate Investment Trust'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 Northview Apartment Real Estate Investment Trust Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:NPRU.F Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 373.04 253.40 17.62
2018-12-31 364.80 289.63 17.23
2018-09-30 355.74 192.83 17.04
2018-06-30 346.05 148.71 16.63
2018-03-31 338.94 235.49 15.89
2017-12-31 331.85 212.37 15.13
2017-09-30 328.61 191.39 13.64
2017-06-30 328.74 200.94 11.98
2017-03-31 327.85 72.92 10.83
2016-12-31 333.32 77.48 10.13
2016-09-30 322.52 54.66 10.42
2016-06-30 287.72 11.15 9.72
2016-03-31 256.16 21.72 8.87
2015-12-31 218.65 31.85 8.65
2015-09-30 196.31 33.78 7.64
2015-06-30 195.79 62.12 7.74
2015-03-31 192.46 70.77 7.49
2014-12-31 189.05 74.26 6.55
2014-09-30 185.79 87.02 6.65
2014-06-30 183.24 87.56 6.64
2014-03-31 180.05 87.91 7.14
2013-12-31 176.39 87.07 7.34
2013-09-30 171.32 261.24 7.64
2013-06-30 166.16 249.67 7.98
2013-03-31 162.37 79.36 8.40
2012-12-31 158.85 75.94 8.90
2012-09-30 156.44 -97.51 9.37
2012-06-30 152.54 -93.40 8.64

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

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Northview Apartment Real Estate Investment Trust's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Northview Apartment Real Estate Investment Trust's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Northview Apartment Real Estate Investment Trust'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 0x 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 Northview Apartment Real Estate Investment Trust Company Filings, last reported 1 month ago.

OTCPK:NPRU.F Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 1,614.75 2,258.29 15.43
2018-12-31 1,640.65 2,223.26 9.70
2018-09-30 1,501.22 2,137.74 43.95
2018-06-30 1,455.35 2,101.16 10.94
2018-03-31 1,315.01 2,054.16 5.53
2017-12-31 1,314.00 2,012.24 10.72
2017-09-30 1,239.59 1,906.88 21.37
2017-06-30 1,236.21 1,846.43 9.20
2017-03-31 1,132.82 1,826.59 4.36
2016-12-31 1,153.22 1,820.33 4.15
2016-09-30 1,059.24 1,872.57 2.30
2016-06-30 1,043.08 1,869.31 3.19
2016-03-31 1,066.25 1,847.86 0.90
2015-12-31 1,049.11 1,868.03 4.49
2015-09-30 809.23 874.57 1.74
2015-06-30 832.43 856.30
2015-03-31 839.13 827.12
2014-12-31 836.98 786.61
2014-09-30 829.02 775.72 13.23
2014-06-30 824.29 739.74 1.57
2014-03-31 822.82 679.34
2013-12-31 818.96 659.30 0.04
2013-09-30 800.20 622.42 2.70
2013-06-30 795.25 559.91 2.70
2013-03-31 792.07 547.21
2012-12-31 785.96 530.96
2012-09-30 595.70 487.31 9.59
2012-06-30 600.73 484.72 0.50
  • Northview Apartment Real Estate Investment Trust's level of debt (139.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (82.6% vs 139.9% today).
  • Debt is not well covered by operating cash flow (6.3%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.3x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Northview Apartment Real Estate Investment Trust'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. Northview Apartment Real Estate Investment Trust 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 Northview Apartment Real Estate Investment Trust'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
6.03%
Current annual income from Northview Apartment Real Estate Investment Trust dividends. Estimated to be 6.03% next year.
If you bought $2,000 of Northview Apartment Real Estate Investment Trust shares you are expected to receive $121 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?
  • Northview Apartment Real Estate Investment Trust's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.47%).
  • Northview Apartment Real Estate Investment Trust'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:NPRU.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 4 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:NPRU.F Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 1.63 8.00
2019-12-31 1.63 8.00
OTCPK:NPRU.F Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2019-05-16 1.630 5.974
2019-05-15 1.630 5.896
2019-04-15 1.630 5.823
2019-03-15 1.630 5.669
2019-02-15 1.630 5.844
2019-01-15 1.630 6.120
2018-12-17 1.630 6.598
2018-11-15 1.630 6.320
2018-10-15 1.630 6.380
2018-09-17 1.630 6.362
2018-08-15 1.630 6.310
2018-07-16 1.630 6.180
2018-06-06 1.630 6.191
2018-05-15 1.630 5.965
2018-04-16 1.630 6.350
2018-03-15 1.630 6.320
2018-02-15 1.630 6.531
2018-01-15 1.630 6.683
2017-12-15 1.630 6.596
2017-11-15 1.630 6.456
2017-10-16 1.630 6.816
2017-09-15 1.630 7.223
2017-08-15 1.630 7.278
2017-07-14 1.630 7.671
2017-06-15 1.630 7.746
2017-05-15 1.630 7.679
2017-04-13 1.630 7.264
2017-03-15 1.630 7.406
2017-02-15 1.630 7.581
2017-01-16 1.630 7.853
2016-12-15 1.630 8.171
2016-11-15 1.630 8.515
2016-10-14 1.630 8.077
2016-09-16 1.630 7.651
2016-08-15 1.630 8.007
2016-07-15 1.630 7.314
2016-06-15 1.630 7.339
2016-05-16 1.630 7.769
2016-04-15 1.630 8.273
2016-03-15 1.630 8.694
2016-02-16 1.630 9.089
2016-01-15 1.630 9.764
2015-12-15 1.630 9.566
2015-11-16 1.630 9.246
2015-10-15 1.630 8.630
2015-09-15 1.630 8.096
2015-08-14 1.630 8.037
2015-07-15 1.630 7.476
2015-06-15 1.630 7.130
2015-05-15 1.630 6.740
2015-04-16 1.630 6.455
2015-03-16 1.630 6.724
2015-02-17 1.630 6.571
2015-01-15 1.630 6.633
2014-12-15 1.630 6.811
2014-11-17 1.630 6.349
2014-11-05 1.630 5.832
2014-09-15 1.580 5.599
2014-08-15 1.580 5.388
2014-07-15 1.580 5.384
2014-06-16 1.580 5.531
2014-04-15 1.580 5.678
2014-03-14 1.580 5.728
2014-02-14 1.580 5.459
2012-12-06 1.530 5.259
2012-10-15 1.530 4.977
2012-09-14 1.530 4.880
2012-08-10 1.530 4.793
2012-07-13 1.530 4.663
2012-06-15 1.530 4.650
2012-05-15 1.530 4.700
2012-04-16 1.530 4.814
2012-03-15 1.530 4.987
2012-02-15 1.530 4.691
2012-01-16 1.530 4.862
2011-12-15 1.530 5.140
2011-11-15 1.530 5.199
2011-10-14 1.530 5.476
2011-09-15 1.530 5.463
2011-08-15 1.530 5.104
2011-07-15 1.530 5.060
2011-06-15 1.530 5.059
2011-05-16 1.530 5.149
2011-04-15 1.530 5.209
2011-03-15 1.530 5.224
2011-02-15 1.530 5.431
2011-01-18 1.530 5.453
2010-11-15 1.530 5.507
2010-10-15 1.530 5.655
2010-09-15 1.530 5.858
2010-08-16 1.530 6.031
2010-07-15 1.480 6.050
2010-06-15 1.480 6.294
2010-05-14 1.480 6.290
2010-04-15 1.480 6.125
2010-03-15 1.480 6.128
2010-02-12 1.480 6.648
2010-01-15 1.480 6.512
2009-12-15 1.480 6.716
2009-11-16 1.480 6.845
2009-10-15 1.480 6.922
2009-09-15 1.480 7.098
2009-08-14 1.480 7.295
2009-07-15 1.480 7.595
2009-06-15 1.480 7.879

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Northview Apartment Real Estate Investment Trust's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.5x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Northview Apartment Real Estate Investment Trust'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 Northview Apartment Real Estate Investment Trust afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Northview Apartment Real Estate Investment Trust has a total score of 5/6, 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 Northview Apartment Real Estate Investment Trust'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
Todd Cook
COMPENSATION CA$1,700,700
AGE 51
TENURE AS CEO 5 years
CEO Bio

Mr. Todd R. Cook, CPA, C.A. has been the Chief Executive Officer at Northview Apartment Real Estate Investment Trust since May 13, 2014 and has been its President since January 10, 2013. Mr. Cook served as the Chief Operating Officer since January 10, 2013 until May 13, 2014 and Executive Vice President at Northern Property Real Estate Investment Trust since 2010 and was responsible for property operations across the country as well as working on a variety of corporate assignments. Mr. Cook joined Northview Apartment in 2006 as the Chief Financial Officer and served until 2009. Prior to this, he was the Chief Financial Officer at TGS North American REIT since September 17, 2004 until 2006 and served as its Treasurer. Mr. Cook was the Controller of TGS Properties Ltd. Prior to this, he was with an International Chartered Accounting firm and specialized in providing assurance services to financial institutions. He has been a Non-Independent Trustee of Northview Apartment Real Estate Investment Trust since May 13, 2014. He is a Director at Habitat for Humanity Southern Alberta since 2005. Mr. Cook is a Chartered Professional Accountant. He received a Bachelor of Administration from the University of Regina.

CEO Compensation
  • Todd's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Todd'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 Northview Apartment Real Estate Investment Trust management team in years:

4
Average Tenure
51
Average Age
  • The tenure for the Northview Apartment Real Estate Investment Trust management team is about average.
Management Team

Todd Cook

TITLE
President
COMPENSATION
CA$2M
AGE
51
TENURE
5 yrs

David Beatty

TITLE
Chief Financial Officer
COMPENSATION
CA$770K
TENURE
3 yrs

Leslie Veiner

TITLE
Chief Operating Officer
COMPENSATION
CA$1M
AGE
51
TENURE
3.6 yrs

Bo Rasmussen

TITLE
Senior Vice President of Investments
COMPENSATION
CA$568K
AGE
46
TENURE
0.1 yrs

Greg Herndier

TITLE
President of NewNorth
COMPENSATION
CA$44K
TENURE
16.1 yrs

Louise Elsey

TITLE
Company Secretary
TENURE
4.4 yrs

Glenda Zuker

TITLE
Nunavut Regional Manager

Brennan David

TITLE
Nunavut Regional Manager of Ninety North Construction & Development Ltd

Andrew Phonsavath

TITLE
Corporate Financial Planning & Investor Relations Manager

Venneth Santos

TITLE
Corporate Analyst
Board of Directors Tenure

Average tenure and age of the Northview Apartment Real Estate Investment Trust board of directors in years:

4
Average Tenure
54
Average Age
  • The tenure for the Northview Apartment Real Estate Investment Trust board of directors is about average.
Board of Directors

Scott Thon

TITLE
Chairman of the Board
COMPENSATION
CA$135K
AGE
54
TENURE
2 yrs

Todd Cook

TITLE
President
COMPENSATION
CA$2M
AGE
51
TENURE
5 yrs

Dennis Hoffman

TITLE
Lead Independent Trustee
COMPENSATION
CA$102K
AGE
71

Kevin Grayston

TITLE
Independent Trustee
COMPENSATION
CA$98K
AGE
62
TENURE
5.3 yrs

Christine McGinley

TITLE
Independent Trustee
COMPENSATION
CA$97K
AGE
59
TENURE
7 yrs

Teri McKibbon

TITLE
Independent Trustee
COMPENSATION
CA$89K
AGE
54
TENURE
4 yrs

Daniel Drimmer

TITLE
COMPENSATION
CA$87K
AGE
45
TENURE
3.6 yrs

Valery Zamuner

TITLE
Independent Trustee
COMPENSATION
CA$45K
AGE
43
TENURE
0.7 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Northview Apartment Real Estate Investment Trust insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
09. Apr 19 Buy Lizaine Wheeler Individual 09. Apr 19 09. Apr 19 24 $21.36 $513
08. Apr 19 Buy Lizaine Wheeler Individual 08. Apr 19 08. Apr 19 900 $21.36 $19,227
09. Jan 19 Buy Christine McGinley Individual 07. Jan 19 07. Jan 19 837 $18.10 $15,151
16. Aug 18 Sell Melvin Nash Individual 13. Aug 18 13. Aug 18 -425 $19.55 $-8,308
X
Management checks
We assess Northview Apartment Real Estate Investment Trust'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. Northview Apartment Real Estate Investment Trust 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

Northview is one of Canada's largest publicly traded multi-family REITs with a portfolio of approximately 27,000 residential units and 1.2 million square feet of commercial space in over 60 markets across eight provinces and two territories. Northview's well-diversified portfolio includes markets characterized by expanding populations and growing economies, which provides Northview the means to deliver stable and growing profitability and distributions to Unitholders of Northview over time. Northview currently trades on the TSX under the ticker symbol: NVU.UN.

Details
Name: Northview Apartment Real Estate Investment Trust
NPRU.F
Exchange: OTCPK
Founded: 1995
CA$1,311,294,980
CA$1,137,937,812
65,173,831
Website: http://www.northviewreit.com
Address: Northview Apartment Real Estate Investment Trust
200, 6131 – 6th Street SE,
Calgary,
Alberta, T2H 1L9,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX NVU.UN Trust Units The Toronto Stock Exchange CA CAD 04. Jun 2002
OTCPK NPRU.F Trust Units Pink Sheets LLC US USD 04. Jun 2002
Number of employees
Current staff
Staff numbers
950
Northview Apartment Real Estate Investment Trust employees.
Industry
Residential REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/25 00:33
End of day share price update: 2019/05/23 00:00
Last estimates confirmation: 2019/05/14
Last earnings filing: 2019/05/09
Last earnings reported: 2019/03/31
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.