Wharf Real Estate Investment Company Limited, an investment holding company, invests in, develops, owns, and operates real estate properties in Hong Kong, Mainland China, and Singapore.
Mediocre balance sheet second-rate dividend payer.
Share Price & News
How has Wharf Real Estate Investment's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: WRFR.F has not had significant price volatility in the past 3 months.
7 Day Return
US Real Estate
1 Year Return
US Real Estate
Return vs Industry: Insufficient data to determine how WRFR.F performed against the US Real Estate industry.
Return vs Market: Insufficient data to determine how WRFR.F performed against the US Market.
Price Volatility Vs. Market
How volatile is Wharf Real Estate Investment's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Is Wharf Real Estate Investment undervalued compared to its fair value and its price relative to the market?
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: WRFR.F ($3.96) is trading above our estimate of fair value ($3.18)
Significantly Below Fair Value: WRFR.F is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: WRFR.F is poor value based on its PE Ratio (23.8x) compared to the Real Estate industry average (14.8x).
PE vs Market: WRFR.F is poor value based on its PE Ratio (23.8x) compared to the US market (15.7x).
Price to Earnings Growth Ratio
PEG Ratio: WRFR.F is poor value based on its PEG Ratio (1.1x)
Price to Book Ratio
PB vs Industry: WRFR.F is good value based on its PB Ratio (0.4x) compared to the US Real Estate industry average (1.1x).
How is Wharf Real Estate Investment forecast to perform in the next 1 to 3 years based on estimates from 13 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: WRFR.F's forecast earnings growth (21.1% per year) is above the savings rate (2.2%).
Earnings vs Market: WRFR.F's earnings (21.1% per year) are forecast to grow slower than the US market (22% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: WRFR.F's revenue (0.9% per year) is forecast to grow slower than the US market (8.8% per year).
High Growth Revenue: WRFR.F's revenue (0.9% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: WRFR.F's Return on Equity is forecast to be low in 3 years time (4.1%).
How has Wharf Real Estate Investment performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: WRFR.F has a large one-off loss of HK$5.9B impacting its December 31 2019 financial results.
Growing Profit Margin: WRFR.F's current net profit margins (24.5%) are lower than last year .
Past Earnings Growth Analysis
Earnings Trend: WRFR.F's earnings have declined by -15.3% per year over the past 5 years.
Accelerating Growth: WRFR.F's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: WRFR.F had negative earnings growth (-78.2%) over the past year, making it difficult to compare to the Real Estate industry average (-6.4%).
Return on Equity
High ROE: WRFR.F's Return on Equity (1.8%) is considered low.
How is Wharf Real Estate Investment's financial position?
Financial Position Analysis
Short Term Liabilities: WRFR.F's short term assets (HK$9.0B) do not cover its short term liabilities (HK$26.9B).
Long Term Liabilities: WRFR.F's short term assets (HK$9.0B) do not cover its long term liabilities (HK$36.0B).
Debt to Equity History and Analysis
Debt Level: WRFR.F's debt to equity ratio (20.6%) is considered satisfactory.
Reducing Debt: WRFR.F's debt to equity ratio has increased from 19.5% to 20.6% over the past 5 years.
Debt Coverage: WRFR.F's debt is well covered by operating cash flow (26.4%).
Interest Coverage: WRFR.F's interest payments on its debt are well covered by EBIT (13.6x coverage).
What is Wharf Real Estate Investment's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: WRFR.F's dividend (6.6%) is higher than the bottom 25% of dividend payers in the US market (1.69%).
High Dividend: WRFR.F's dividend (6.6%) is in the top 25% of dividend payers in the US market (4.55%)
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, WRFR.F has been paying a dividend for less than 10 years.
Growing Dividend: WRFR.F's dividend payments have increased, but the company has only paid a dividend for 2 years.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (156.9%), WRFR.F's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: WRFR.F's dividends in 3 years are forecast to be covered by earnings (63% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average board tenure
Stephen Ng (67yo)
Mr. Tin Hoi Ng, also known as Stephen, serves as Non-Executive Director of Greentown China Holdings Limited since June 15, 2012. Mr. Ng serves as the Chief Executive Officer of Harbour Centre Development L ...
CEO Compensation Analysis
Compensation vs Market: Stephen's total compensation ($USD1.69M) is below average for companies of similar size in the US market ($USD11.64M).
Compensation vs Earnings: Stephen's compensation has been consistent with company performance over the past year.
|Chairman & MD||2.67yrs||HK$13.11m||0.041% HK$5.1m|
|Executive Vice Chairman||2.67yrs||HK$19.67m||no data|
|Executive Vice Chairman||2yrs||HK$7.58m||no data|
|Executive Director||2.83yrs||HK$12.23m||no data|
|Company Secretary & Director||0.42yr||no data||no data|
|Independent Non-Executive Director||2.67yrs||HK$450.00k||no data|
|Independent Non-Executive Director||2.67yrs||HK$400.00k||0.00066% HK$80.5k|
|Independent Non-Executive Director||2.67yrs||HK$400.00k||no data|
|Independent Non-Executive Director||2yrs||HK$250.00k||0.00022% HK$26.8k|
Experienced Board: WRFR.F's board of directors are not considered experienced ( 2.7 years average tenure), which suggests a new board.
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Wharf Real Estate Investment Company Limited's company bio, employee growth, exchange listings and data sources
- Name: Wharf Real Estate Investment Company Limited
- Ticker: WRFR.F
- Exchange: OTCPK
- Founded: 1886
- Industry: Real Estate Operating Companies
- Sector: Real Estate
- Market Cap: HK$94.578b
- Listing Market Cap: HK$12.202b
- Shares outstanding: 3.04b
- Website: https://www.wharfreic.com
Number of Employees
- Wharf Real Estate Investment Company Limited
- Ocean Centre
- 16th Floor
- Hong Kong
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|1997||SEHK (The Stock Exchange of Hong Kong Ltd.)||Yes||Ordinary Shares||HK||HKD||Nov 2017|
|1997||SHSC (Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect)||Yes||Ordinary Shares||HK||HKD||Nov 2017|
|1997||SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect)||Yes||Ordinary Shares||HK||HKD||Nov 2017|
|4WF||DB (Deutsche Boerse AG)||Yes||Ordinary Shares||DE||EUR||Nov 2017|
|WRFR.F||OTCPK (Pink Sheets LLC)||Yes||Ordinary Shares||US||USD||Nov 2017|
Wharf Real Estate Investment Company Limited, an investment holding company, invests in, develops, owns, and operates real estate properties in Hong Kong, Mainland China, and Singapore. The company operates through Investment Properties, Development Properties, and Hotels segments. It primarily operates Harbour City, a commercial space comprising offices, retail shops, serviced apartments, hotels and club, and car parking spaces; and Times Square, a retail space that consists of office and car parking spaces. The company also operates Wheelock House and Crawford House commercial properties; The Murray, a luxury hotel that consists of 336 rooms; Plaza Hollywood, a shopping mall with retail outlets, restaurants, and a stadium housing six-screen cinema multiplex; and The Star Ferry, which provides a ferry service between Tsim Sha Tsui and Wan Chai. In addition, it offers leasing, finance, and management services; and accepts bank deposits. Wharf Real Estate Investment Company Limited was founded in 1886 and is headquartered in Kowloon, Hong Kong.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/06/03 05:35|
|End of Day Share Price||2020/06/01 00:00|
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.