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Vastned Retail

OTCPK:VSND.F
Snowflake Description

Average dividend payer and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
VSND.F
OTCPK
€555M
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

Vastned is a listed European retail property company (Euronext Amsterdam: VASTN) focusing on ‘venues for premium shopping’. The last earnings update was 151 days ago. More info.


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VSND.F Share Price and Events
7 Day Returns
0%
OTCPK:VSND.F
-0.5%
US REITs
3%
US Market
1 Year Returns
-
OTCPK:VSND.F
-8.8%
US REITs
-8.4%
US Market
VSND.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Vastned Retail (VSND.F) 0% 0% - - - -
US REITs -0.5% -7.8% -7.5% -8.8% -0.3% 19.4%
US Market 3% -9.7% -15.8% -8.4% 20.1% 28.6%
1 Year Return vs Industry and Market
  • No trading data on VSND.F.
  • No trading data on VSND.F.
Price Volatility
VSND.F
Industry
5yr Volatility vs Market
Related Companies

VSND.F Value

 Is Vastned Retail 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 Vastned Retail 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 Vastned Retail.

OTCPK:VSND.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 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 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:VSND.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 0.48
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.476 (1 + (1- 25%) (105.46%))
0.853
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.85
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.95% + (0.853 * 7.05%)
8.96%

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

The calculations below outline how an intrinsic value for Vastned Retail 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.

Vastned Retail 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:VSND.F DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Funds From Operations (FFO) (EUR, Millions) 40.73 42.39 44.00 39.52 35.50
Source Analyst x1 Analyst x1 Analyst x1 Est @ -10.18% Est @ -10.18%
Present Value
Discounted (@ 8.96%)
37.38 35.70 34.01 28.03 23.11
Present value of next 5 years cash flows €158.24
OTCPK:VSND.F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= €35.50 × (1 + 2.95%) ÷ (8.96% – 2.95%)
€607.77
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= €607.77 ÷ (1 + 8.96%)5
€395.69
OTCPK:VSND.F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= €158.24 + €395.69
€553.93
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €553.93 / 18.19
€41.47
OTCPK:VSND.F Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:VSND.F represents 1.24842x of ENXTAM:VASTN
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.24842x
Value per Share
(Listing Adjusted, USD)
= Value per Share (EUR) x Listing Adjustment Factor
= € 33.22 x 1.24842
$41.47
Value per share (USD) From above. $41.47
Current discount Discount to share price of $38.08
= -1 x ($38.08 - $41.47) / $41.47
8.2%

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

Current Discount
Amount off the current price Vastned Retail is available for.
Intrinsic value
8%
Share price is $38.08 vs Future cash flow value of $41.47
Current Discount Checks
For Vastned Retail to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Vastned Retail's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Vastned Retail'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 Vastned Retail's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Vastned Retail's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:VSND.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-06-30) in EUR €3.44
ENXTAM:VASTN Share Price ** ENXTAM (2018-10-04) in EUR €30.5
United States of America REITs Industry PE Ratio Median Figure of 155 Publicly-Listed REITs Companies 27.17x
United States of America Market PE Ratio Median Figure of 3,020 Publicly-Listed Companies 16.04x

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

** Primary Listing of Vastned Retail.

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

= ENXTAM:VASTN Share Price ÷ EPS (both in EUR)

= 30.5 ÷ 3.44

8.88x

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

  • Vastned Retail is good value based on earnings compared to the US REITs industry average.
  • Vastned Retail is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Vastned Retail's expected growth come at a high price?
Raw Data
OTCPK:VSND.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.88x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
-2.2%per year
United States of America REITs Industry PEG Ratio Median Figure of 141 Publicly-Listed REITs Companies 0.93x
United States of America Market PEG Ratio Median Figure of 2,107 Publicly-Listed Companies 1.13x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 8.88x ÷ -2.2%

-4x

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

  • Vastned Retail 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 Vastned Retail's assets?
Raw Data
OTCPK:VSND.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-06-30) in EUR €46.40
ENXTAM:VASTN Share Price * ENXTAM (2018-10-04) in EUR €30.5
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.53x
United States of America Market PB Ratio Median Figure of 5,096 Publicly-Listed Companies 1.61x
OTCPK:VSND.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTAM:VASTN Share Price ÷ Book Value per Share (both in EUR)

= 30.5 ÷ 46.40

0.66x

* Primary Listing of Vastned Retail.

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

  • Vastned Retail is good value based on assets compared to the US REITs industry average.
X
Value checks
We assess Vastned Retail'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. Vastned Retail 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.

VSND.F Future Performance

 How is Vastned Retail expected to perform in the next 1 to 3 years based on estimates from 3 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
-2.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Vastned Retail expected to grow at an attractive rate?
  • Vastned Retail'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
  • Vastned Retail's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • Vastned Retail'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:VSND.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:VSND.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts -2.2%
OTCPK:VSND.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts -0.7%
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 4.5%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.1%
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:VSND.F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:VSND.F Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 75 1
2020-12-31 77 43 55 3
2019-12-31 75 43 51 3
2018-12-31 76 39 52 3
OTCPK:VSND.F Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-06-30 80 45 62
2018-03-31 79 45 78
2017-12-31 77 45 93
2017-06-30 79 45 99
2017-03-31 80 46 74
2016-12-31 81 47 48
2016-09-30 87 48 39
2016-06-30 89 49 51
2016-03-31 91 52 58
2015-12-31 93 55 65
2015-09-30 93 56 57

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Vastned Retail's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Vastned Retail'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:VSND.F Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Vastned Retail Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:VSND.F Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31
2020-12-31 3.01 3.07 2.94 2.00
2019-12-31 2.79 2.92 2.65 2.00
2018-12-31 2.86 3.36 2.35 2.00
OTCPK:VSND.F Past Financials Data
Date (Data in EUR Millions) EPS *
2018-06-30 3.44
2018-03-31 4.24
2017-12-31 5.02
2017-06-30 5.21
2017-03-31 3.87
2016-12-31 2.54
2016-09-30 2.04
2016-06-30 2.70
2016-03-31 3.07
2015-12-31 3.44
2015-09-30 3.00

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

VSND.F Past Performance

  How has Vastned Retail 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 Vastned Retail'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.
  • Vastned Retail has delivered over 20% year on year earnings growth in the past 5 years.
  • Vastned Retail's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Vastned Retail's 1-year earnings growth is negative, it can't be compared to the US REITs industry average.
Earnings and Revenue History
Vastned Retail'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 Vastned Retail Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:VSND.F Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-06-30 80.04 62.47 8.10
2018-03-31 78.76 77.73 8.13
2017-12-31 77.48 92.99 8.16
2017-06-30 78.90 98.62 8.62
2017-03-31 80.10 73.50 8.43
2016-12-31 81.30 48.39 8.23
2016-09-30 87.09 38.79 8.46
2016-06-30 88.86 51.39 8.44
2016-03-31 91.02 58.43 8.48
2015-12-31 93.17 65.47 8.52
2015-09-30 92.67 57.17 8.33
2015-06-30 92.16 48.86 8.13
2015-03-31 94.28 40.28 8.51
2014-12-31 96.40 31.71 8.90
2014-09-30 102.59 -24.75 9.11
2014-06-30 108.78 -81.21 9.32
2014-03-31 116.01 -86.19 9.14
2013-12-31 123.24 -91.18 8.96
2013-09-30 127.23 -52.76 9.00
2013-06-30 130.74 -29.42 9.00
2013-03-31 132.38 -43.14 9.03
2012-12-31 133.48 -41.00 8.79
2012-09-30 133.50 -10.98 8.13
2012-06-30 134.04 20.68 7.77
2012-03-31 133.10 65.14 7.33
2011-12-31 132.53 96.10 7.06

*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.
  • Vastned Retail has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Vastned Retail used its assets more efficiently than the US REITs industry average last year based on Return on Assets.
  • Vastned Retail's use of capital has not improved over the past 3 years (Return on Capital Employed).
X
Past performance checks
We assess Vastned Retail'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.
Vastned Retail 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.

VSND.F Health

 How is Vastned Retail'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 Vastned Retail's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Vastned Retail's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Vastned Retail's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Vastned Retail'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 Vastned Retail Company Filings, last reported 6 months ago.

OTCPK:VSND.F Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-06-30 936.17 584.97 1.55
2018-03-31 936.17 584.97 1.55
2017-12-31 933.42 619.41 2.08
2017-06-30 909.04 638.78 1.98
2017-03-31 909.04 638.78 1.98
2016-12-31 891.50 680.03 1.28
2016-09-30 891.50 680.03 1.28
2016-06-30 884.86 719.09 4.17
2016-03-31 884.86 719.09 4.17
2015-12-31 901.01 690.91 2.76
2015-09-30 901.01 690.91 2.76
2015-06-30 873.69 738.46 12.63
2015-03-31 873.69 738.46 12.63
2014-12-31 866.00 629.01 12.71
2014-09-30 866.00 629.01 12.71
2014-06-30 859.80 600.48 8.78
2014-03-31 859.80 600.48 8.78
2013-12-31 866.16 787.39 5.13
2013-09-30 866.16 787.39 5.13
2013-06-30 1,014.46 795.11 6.65
2013-03-31 1,014.46 795.11 6.65
2012-12-31 1,018.37 921.76 4.91
2012-09-30 1,008.65 990.18 1.31
2012-06-30 1,049.86 980.39 2.82
2012-03-31 1,108.57 945.48 2.24
2011-12-31 1,105.70 963.77 4.34
  • Vastned Retail's level of debt (62.5%) 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 (78.5% vs 62.5% today).
  • Debt is not well covered by operating cash flow (7.7%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.5x coverage).
X
Financial health checks
We assess Vastned Retail'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. Vastned Retail 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.

VSND.F Dividends

 What is Vastned Retail'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
6.72%
Current annual income from Vastned Retail dividends. Estimated to be 6.71% next year.
If you bought $2,000 of Vastned Retail shares you are expected to receive $134 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?
  • Vastned Retail's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.55%).
  • Vastned Retail's dividend is above the markets top 25% of dividend payers in United States of America (3.96%).
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:VSND.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 3 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 184 Stocks 4.5%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1985 Stocks 2.8%
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 4%

Industry and Market average data is calculated daily.

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

OTCPK:VSND.F Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 2.02 2.00
2020-12-31 2.06 3.00
2019-12-31 2.05 3.00
2018-12-31 2.05 3.00
OTCPK:VSND.F Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2018-02-14 2.050 5.555
2017-03-09 2.050 5.462
2017-02-15 2.050 6.069
2016-08-04 2.040 5.732
2016-02-18 2.050 5.324
2015-08-20 2.010 4.941
2015-03-03 2.000 4.680
2014-03-20 2.550 6.736
2014-03-06 2.550 7.189
2013-08-16 2.460 7.310
2013-03-07 2.550 7.764
2012-03-21 3.610 10.890
2012-03-08 3.610 9.502
2011-04-06 3.680 9.442
2011-03-03 3.680 7.219
2010-03-26 4.030 8.668
2010-03-05 4.030 8.320
2009-03-12 3.850 9.600
2009-03-02 3.850 13.351
2008-12-31 3.920 11.543

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Vastned Retail's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (20.2x coverage).
X
Income/ dividend checks
We assess Vastned Retail'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 Vastned Retail afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Vastned Retail has a total score of 4/6, see the detailed checks below.


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

VSND.F Management

 What is the CEO of Vastned Retail'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
Taco T. de Groot
COMPENSATION €820,156
AGE 55
TENURE AS CEO 7.3 years
CEO Bio

Mr. Taco T. J. de Groot, MRE, MRICS, has been the Chief Executive Officer of Vastned Retail Belgium NV since August 20, 2016. Mr. de Groot has been the Chief Executive Officer of Vastned Retail N.V. since September 1, 2011 and serves as its Chairman of Management Team and Member of Executive Board. He has been CEO & Director of Vastned Retail Belgium SA since August 20, 2016 and April 06, 2011 respectively. He also has been a Statutory Director at VastNed Retail NV since September 1, 2010. Mr. de Groot served as Managing Director, Chief Investment Officer and Member of Management Board at VastNed Offices/Industrial N.V. since September 1, 2010. He served as Chief Investment Officer at Vastned Retail N.V. since September 1, 2010. He served as Rents and Placement Broker of DTZ Zadelhoff, Chief Executive Officer of Cortona Holdings and Chief Investment Officer of GPT Halverton, which he founded. Mr. de Groot was a Fouding Partner of MSeven Real Estate. He served as Letting and Investment Property Agent at DTZ Zadelhoff. He served as a Non-Independent Director of Vastned Retail Belgium NV (known as Intervest Retail NV/SA). He served as a Director at Intervest Retail NV/SA until October 27, 2011. He serves as a Member of the Supervisory Board of the nursing home specialist Hobion, Houten. He served as Director of Intervest Offices NV/SA. He serves as an Independent Non-Executive Director of Tritax Eurobox PLC. He has been a Director of Tritax Big Box REIT Plc since June 2018. Mr. de Groot studied Dutch Law at Utrecht University and studied Real Estate at University of Amsterdam.

CEO Compensation
  • Taco T.'s compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • Taco T.'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 Vastned Retail management team in years:

5.2
Average Tenure
51
Average Age
  • The average tenure for the Vastned Retail management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Taco T. de Groot

TITLE
Chairman of Management Team
COMPENSATION
€820K
AGE
55
TENURE
7.3 yrs

Reinier Walta

TITLE
CFO, Member of Management Team & Statutory Director
COMPENSATION
€543K
AGE
44
TENURE
4.1 yrs

Peggy Deraedt

TITLE
Member of Management Team & Company Lawyer
AGE
48
TENURE
14.7 yrs

Nathanael van Twillert

TITLE
Member of Management Team & Real Estate Investment Analyst
AGE
31
TENURE
1.2 yrs

Ronald Beemsterboer

TITLE
Manager of Investor Relations
TENURE
0.9 yrs

Rudi Taelemans

TITLE
Co-Chief Executive Officer of Vastned Retail Belgium
AGE
56
TENURE
2.3 yrs

Luis Barrón

TITLE
Country Manager of Spain
AGE
53
TENURE
14.9 yrs

Thierry Fourez

TITLE
Country Manager of France
AGE
51
TENURE
6.3 yrs
Board of Directors Tenure

Average tenure and age of the Vastned Retail board of directors in years:

3.7
Average Tenure
57
Average Age
  • The tenure for the Vastned Retail board of directors is about average.
Board of Directors

Marc van Gelder

TITLE
Supervisory Board Chairman
COMPENSATION
€54K
AGE
57
TENURE
2.7 yrs

Jeroen Hunfeld

TITLE
Vice-Chairman of Supervisory Board
COMPENSATION
€43K
AGE
68

Marieke Bax

TITLE
Supervisory Board Member
COMPENSATION
€44K
AGE
57
TENURE
6.6 yrs

Charlotte Insinger

TITLE
Supervisory Board Member
COMPENSATION
€45K
AGE
53
TENURE
3.7 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 Vastned Retail'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. Vastned Retail 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.

VSND.F News

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VSND.F Company Info

Map
Description

Vastned is a listed European retail property company (Euronext Amsterdam: VASTN) focusing on ‘venues for premium shopping’. Vastned invests in selected cities in Europe with a clear focus on the best retail property in the most popular high streets in the bigger cities. Vastned’s tenants are strong and leading international and national retail brands. The property portfolio had a size of approximately € 1.6 billion as at 30 September 2018.

Details
Name: Vastned Retail N.V.
VSND.F
Exchange: OTCPK
Founded: 1986
€634,955,815
18,186,800
Website: http://www.vastned.com
Address: Vastned Retail N.V.
De Boelelaan 7,
Amsterdam,
Noord-Holland, 1083 HJ,
Netherlands
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTAM VASTN Ordinary Shares Euronext Amsterdam NL EUR 02. Jan 1992
OTCPK VSND.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
DB VB2 Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
LSE 0LNJ Ordinary Shares London Stock Exchange GB EUR 02. Jan 1992
BATS-CHIXE VASTNA Ordinary Shares BATS 'Chi-X Europe' GB EUR 02. Jan 1992
Number of employees
Current staff
Staff numbers
42
Vastned Retail employees.
Industry
Retail REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2018/12/30 00:02
End of day share price update: 2018/10/04 00:00
Last estimates confirmation: 2018/12/10
Last earnings filing: 2018/08/01
Last earnings reported: 2018/06/30
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.