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PATRIZIA Immobilien

OTCPK:PTZI.F
Snowflake Description

Excellent balance sheet with moderate growth potential.

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

PATRIZIA Immobilien AG has been active as an investment manager in the real estate market across Europe for more than 30 years. The last earnings update was 61 days ago. More info.


Add to Portfolio Compare Print
  • PATRIZIA Immobilien is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
PTZI.F Share Price and Events
7 Day Returns
0%
OTCPK:PTZI.F
-0.9%
US Real Estate
-0.7%
US Market
1 Year Returns
-
OTCPK:PTZI.F
-15.7%
US Real Estate
3%
US Market
PTZI.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
PATRIZIA Immobilien (PTZI.F) 0% 0% - - - -
US Real Estate -0.9% -6.6% -8.6% -15.7% 22.9% 4.2%
US Market -0.7% -2% 2.4% 3% 39.2% 42%
1 Year Return vs Industry and Market
  • No trading data on PTZI.F.
  • No trading data on PTZI.F.
Price Volatility
PTZI.F
Industry
5yr Volatility vs Market

PTZI.F Value

 Is PATRIZIA Immobilien 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 PATRIZIA Immobilien 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 PATRIZIA Immobilien.

OTCPK:PTZI.F Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.7%
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:PTZI.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Real Estate Unlevered Beta Simply Wall St/ S&P Global 1.11
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.11 (1 + (1- 30%) (17.27%))
1.164
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.16
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.164 * 5.96%)
9.67%

Discounted Cash Flow Calculation for OTCPK:PTZI.F using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for PATRIZIA Immobilien is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

OTCPK:PTZI.F DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 9.67%)
2019 159.00 Analyst x1 144.98
2020 109.30 Analyst x2 90.88
2021 45.80 Analyst x2 34.72
2022 19.91 Est @ -56.54% 13.76
2023 12.19 Est @ -38.76% 7.69
2024 8.98 Est @ -26.31% 5.16
2025 7.40 Est @ -17.6% 3.88
2026 6.55 Est @ -11.5% 3.13
2027 6.08 Est @ -7.23% 2.65
2028 5.82 Est @ -4.24% 2.31
Present value of next 10 years cash flows €309.17
OTCPK:PTZI.F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €5.82 × (1 + 2.73%) ÷ (9.67% – 2.73%)
€86.19
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €86.19 ÷ (1 + 9.67%)10
€34.25
OTCPK:PTZI.F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €309.17 + €34.25
€343.43
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €343.43 / 91.06
€3.77
OTCPK:PTZI.F Discount to Share Price
Calculation Result
Value per share (USD) From above. $4.16
Current discount Discount to share price of $21.05
= -1 x ($21.05 - $4.16) / $4.16
-405.9%

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

  • The current share price of PATRIZIA Immobilien 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 PATRIZIA Immobilien's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are PATRIZIA Immobilien's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:PTZI.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €0.57
XTRA:PAT Share Price ** XTRA (2019-04-15) in EUR €19.08
United States of America Real Estate Industry PE Ratio Median Figure of 26 Publicly-Listed Real Estate Companies 15.37x
United States of America Market PE Ratio Median Figure of 3,088 Publicly-Listed Companies 17.89x

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

** Primary Listing of PATRIZIA Immobilien.

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

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

= 19.08 ÷ 0.57

33.47x

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

  • PATRIZIA Immobilien is overvalued based on earnings compared to the US Real Estate industry average.
  • PATRIZIA Immobilien is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does PATRIZIA Immobilien's expected growth come at a high price?
Raw Data
OTCPK:PTZI.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 33.47x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
20.1%per year
United States of America Real Estate Industry PEG Ratio Median Figure of 12 Publicly-Listed Real Estate Companies 0.44x
United States of America Market PEG Ratio Median Figure of 2,117 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 33.47x ÷ 20.1%

1.66x

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

  • PATRIZIA Immobilien is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on PATRIZIA Immobilien's assets?
Raw Data
OTCPK:PTZI.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €12.55
XTRA:PAT Share Price * XTRA (2019-04-15) in EUR €19.08
United States of America Real Estate Industry PB Ratio Median Figure of 52 Publicly-Listed Real Estate Companies 1.44x
United States of America Market PB Ratio Median Figure of 5,195 Publicly-Listed Companies 1.83x
OTCPK:PTZI.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 19.08 ÷ 12.55

1.52x

* Primary Listing of PATRIZIA Immobilien.

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

  • PATRIZIA Immobilien is overvalued based on assets compared to the US Real Estate industry average.
X
Value checks
We assess PATRIZIA Immobilien's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Real Estate industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Real Estate industry average (and greater than 0)? (1 check)
  5. PATRIZIA Immobilien has a total score of 0/6, 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.

PTZI.F Future Performance

 How is PATRIZIA Immobilien expected to perform in the next 1 to 3 years based on estimates from 5 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
20.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is PATRIZIA Immobilien expected to grow at an attractive rate?
  • PATRIZIA Immobilien's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • PATRIZIA Immobilien's earnings growth is expected to exceed the United States of America market average.
  • PATRIZIA Immobilien'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:PTZI.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:PTZI.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 20.1%
OTCPK:PTZI.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts -1.1%
United States of America Real Estate Industry Earnings Growth Rate Market Cap Weighted Average 6.9%
United States of America Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 6.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.9%
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:PTZI.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 5 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:PTZI.F Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 359 130 99 2
2020-12-31 328 134 97 5
2019-12-31 374 94 98 1
OTCPK:PTZI.F Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 351 -53 52
2018-09-30 327 41 80
2018-06-30 304 49 78
2018-03-31 291 128 82
2017-12-31 250 17 55
2017-09-30 325 -12 49
2017-06-30 345 19 51
2017-03-31 370 6 30
2016-12-31 818 503 238
2016-09-30 804 525 257
2016-06-30 861 528 313
2016-03-31 826 471 321

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • PATRIZIA Immobilien's earnings are expected to grow significantly at over 20% yearly.
  • PATRIZIA Immobilien'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:PTZI.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 5 Analyst Estimates (S&P Global) See Below

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

OTCPK:PTZI.F Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 1.08 1.31 0.86 3.00
2020-12-31 1.07 1.21 0.79 6.00
2019-12-31 1.08 1.08 1.08 1.00
OTCPK:PTZI.F Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 0.57
2018-09-30 0.87
2018-06-30 0.87
2018-03-31 0.91
2017-12-31 0.60
2017-09-30 0.53
2017-06-30 0.55
2017-03-31 0.33
2016-12-31 2.57
2016-09-30 2.83
2016-06-30 3.39
2016-03-31 3.48

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

PTZI.F Past Performance

  How has PATRIZIA Immobilien 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 PATRIZIA Immobilien's growth in the last year to its industry (Real Estate).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • PATRIZIA Immobilien's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • PATRIZIA Immobilien's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • PATRIZIA Immobilien's 1-year earnings growth is negative, it can't be compared to the US Real Estate industry average.
Earnings and Revenue History
PATRIZIA Immobilien'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 PATRIZIA Immobilien Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:PTZI.F Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 351.24 51.66 131.20
2018-09-30 327.27 80.34 122.90
2018-06-30 304.48 78.43 109.50
2018-03-31 291.21 82.03 98.97
2017-12-31 249.57 55.00 92.75
2017-09-30 324.53 48.93 89.97
2017-06-30 344.55 50.75 90.22
2017-03-31 370.49 30.41 90.95
2016-12-31 817.88 237.68 105.80
2016-09-30 803.65 256.81 113.59
2016-06-30 861.29 313.35 112.81
2016-03-31 825.91 321.04 112.04
2015-12-31 384.86 110.76 98.30
2015-09-30 391.27 93.48 87.71
2015-06-30 309.97 28.84 85.32
2015-03-31 288.60 26.35 81.22
2014-12-31 291.82 35.61 77.24
2014-09-30 206.76 32.64 74.82
2014-06-30 223.36 34.97 71.39
2014-03-31 240.65 44.20 68.69
2013-12-31 236.53 37.33 65.73
2013-09-30 247.56 33.45 58.32
2013-06-30 237.47 37.91 55.72
2013-03-31 231.12 27.48 51.52
2012-12-31 246.15 25.46 47.56
2012-09-30 277.09 22.45 44.07
2012-06-30 274.80 11.11 40.94

*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.
  • PATRIZIA Immobilien has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • PATRIZIA Immobilien used its assets less efficiently than the US Real Estate industry average last year based on Return on Assets.
  • PATRIZIA Immobilien has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess PATRIZIA Immobilien's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Real Estate industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
PATRIZIA Immobilien 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.

PTZI.F Health

 How is PATRIZIA Immobilien'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 PATRIZIA Immobilien's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • PATRIZIA Immobilien is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • PATRIZIA Immobilien's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of PATRIZIA Immobilien'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 covered by short term assets, assets are 2.6x 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 PATRIZIA Immobilien Company Filings, last reported 4 months ago.

OTCPK:PTZI.F Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,153.79 300.00 541.61
2018-09-30 1,115.49 300.00 559.99
2018-06-30 1,128.48 351.78 568.44
2018-03-31 1,092.38 339.76 549.68
2017-12-31 756.39 322.00 584.69
2017-09-30 742.45 322.00 769.96
2017-06-30 774.94 429.00 785.56
2017-03-31 757.59 132.50 454.53
2016-12-31 751.03 80.20 440.26
2016-09-30 769.19 48.18 434.66
2016-06-30 763.17 49.38 371.50
2016-03-31 763.56 245.43 443.42
2015-12-31 539.79 892.51 179.20
2015-09-30 511.92 945.26 174.18
2015-06-30 458.91 957.19 126.55
2015-03-31 413.40 165.21 160.87
2014-12-31 410.05 198.95 145.45
2014-09-30 389.93 291.90 123.43
2014-06-30 390.13 315.53 119.68
2014-03-31 386.59 403.34 176.35
2013-12-31 374.48 401.45 105.63
2013-09-30 356.41 371.34 79.64
2013-06-30 354.35 524.93 111.66
2013-03-31 341.67 533.35 119.11
2012-12-31 336.39 543.49 38.20
2012-09-30 322.07 631.12 68.87
2012-06-30 315.62 662.18 29.40
  • PATRIZIA Immobilien's level of debt (26%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (107.2% vs 26% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • PATRIZIA Immobilien earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess PATRIZIA Immobilien'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. PATRIZIA Immobilien has a total score of 5/6, 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.

PTZI.F Dividends

 What is PATRIZIA Immobilien'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
1.42%
Current annual income from PATRIZIA Immobilien dividends. Estimated to be 2.72% next year.
If you bought $2,000 of PATRIZIA Immobilien shares you are expected to receive $28 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?
  • PATRIZIA Immobilien's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
  • PATRIZIA Immobilien's dividend is below the markets top 25% of dividend payers in United States of America (3.69%).
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:PTZI.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 5 Analyst Estimates (S&P Global) See Below
United States of America Real Estate Industry Average Dividend Yield Market Cap Weighted Average of 16 Stocks 2.7%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2000 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

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

OTCPK:PTZI.F Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.60 3.00
2020-12-31 0.48 6.00
2019-12-31 0.54 1.00
OTCPK:PTZI.F Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-03-20 0.270 1.419
2018-03-14 0.250 1.419

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

  • It is too early to tell whether PATRIZIA Immobilien has stable dividend payments.
  • PATRIZIA Immobilien only just started paying a dividend, it is too early to tell if payments are increasing.
Current Payout to shareholders
What portion of PATRIZIA Immobilien's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.8x coverage).
X
Income/ dividend checks
We assess PATRIZIA Immobilien'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 PATRIZIA Immobilien afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. PATRIZIA Immobilien has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

PTZI.F Management

 What is the CEO of PATRIZIA Immobilien'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
Wolfgang Egger
COMPENSATION €1,408,000
AGE 53
TENURE AS CEO 16.8 years
CEO Bio

Mr. Wolfgang Egger is the Founder of Patrizia Immobilien AG and serves as its Chairman of Managing Board. Mr. Egger has been the Chief Executive Officer and Member of Managing Board at Patrizia Immobilien AG since August 21, 2002. He serves as Managing Director of First Capital Partner GmbH, FCP Project A GmbH and W.E. Verwaltungs Gmbh, a general partner of WE Vermogensverwaltung GmbH & Co. KG. He served as Deputy Chairman of Eurobilia AG, Cologne until November 29, 2006. He served as a Member of Advisory Committee at IVG Immobilien AG.

CEO Compensation
  • Wolfgang's compensation has been consistent with company performance over the past year.
  • Wolfgang'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 PATRIZIA Immobilien management team in years:

5.9
Average Tenure
53
Average Age
  • The average tenure for the PATRIZIA Immobilien management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Wolfgang Egger

TITLE
CEO & Chairman of Managing Board
COMPENSATION
€1M
AGE
53
TENURE
16.8 yrs

Karim Bohn

TITLE
CFO & Member of the Managing Board
COMPENSATION
€1M
AGE
46
TENURE
3.5 yrs

Klaus Schmitt

TITLE
COO & Member of Managing Board
COMPENSATION
€1M
AGE
53
TENURE
13.3 yrs

Anne Kavanagh

TITLE
Chief Investment Officer & Member of Managing Board
COMPENSATION
€2M
TENURE
2.1 yrs

Manuel Käsbauer

TITLE
Head of Innovation & Technology
TENURE
1.3 yrs

Martin Praum Praum

TITLE
Group Head of Investor Relations

Rikke Lykke

TITLE
Head of Corporate Integration
TENURE
6.7 yrs

James Muir

TITLE
Head of M&A and Head of UK & Ireland

Sebastian Lohmer

TITLE
Managing Director
TENURE
5.9 yrs

Peter Helfrich

TITLE
Regional Head of North-West Europe
Board of Directors Tenure

Average tenure of the PATRIZIA Immobilien board of directors in years:

4.3
Average Tenure
  • The tenure for the PATRIZIA Immobilien board of directors is about average.
Board of Directors

Theodor Seitz

TITLE
Supervisory Board Chairman
TENURE
17.3 yrs

Alfred Hoschek

TITLE
Deputy Chairman of Supervisory Board
AGE
55
TENURE
4.3 yrs

Uwe Reuter

TITLE
Deputy Chairman of Supervisory Board
AGE
63
TENURE
2.3 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 ($) Value ($)
X
Management checks
We assess PATRIZIA Immobilien'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. PATRIZIA Immobilien 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.

PTZI.F News

Simply Wall St News

PTZI.F Company Info

Description

PATRIZIA Immobilien AG has been active as an investment manager in the real estate market across Europe for more than 30 years. PATRIZIA’s activities include the acquisition, management, repositioning and sale of residential and commercial real estate through its own licensed investment platforms. As a global partner for pan-European real estate investment, PATRIZIA operates as a respected business partner of large institutional investors and retail investors in all major European countries. PATRIZIA manages almost EUR 40 billion of real estate assets, primarily as an investment manager for insurance companies, pension fund institutions, sovereign funds, savings and cooperative banks and as co-investor. For further information, please visit: www.patrizia.ag.

Details
Name: PATRIZIA Immobilien AG
PTZI.F
Exchange: OTCPK
Founded: 2009
€1,939,082,320
91,059,631
Website: http://www.patrizia.ag
Address: PATRIZIA Immobilien AG
PATRIZIA Bürohaus,
Fuggerstraße 26,
Augsburg,
Bavaria, 86150,
Germany
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
XTRA PAT Bearer Shares XETRA Trading Platform DE EUR 27. Mar 2006
OTCPK PTZI.F Bearer Shares Pink Sheets LLC US USD 27. Mar 2006
DB PAT Bearer Shares Deutsche Boerse AG DE EUR 27. Mar 2006
LSE 0FJC Bearer Shares London Stock Exchange GB EUR 27. Mar 2006
SWX P1Z Bearer Shares SIX Swiss Exchange CH CHF 27. Mar 2006
WBAG P1Z Bearer Shares Wiener Boerse AG AT EUR 27. Mar 2006
Number of employees
Current staff
Staff numbers
804
PATRIZIA Immobilien employees.
Industry
Diversified Real Estate Activities
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/20 02:19
End of day share price update: 2019/04/15 00:00
Last estimates confirmation: 2019/05/16
Last earnings filing: 2019/03/20
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.