company background image
ATT

AttacqJSE:ATT Stock Report

Market Cap

R4.7b

7D

-3.6%

1Y

104.6%

Updated

15 Oct, 2021

Data

Company Financials +
ATT fundamental analysis
Snowflake Score
Valuation1/6
Future Growth0/6
Past Performance1/6
Financial Health1/6
Dividends0/6

ATT Overview

Attacq is a South African-based Real Estate Investment Trust (REIT), with a vision of delivering total returns comprising sustainable income return and long-term capital growth through a focused approach in real estate investments and developments.

Attacq Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Attacq
Historical stock prices
Current Share PriceR6.73
52 Week HighR3.00
52 Week LowR7.59
Beta1.39
1 Month Change-3.99%
3 Month Change-0.74%
1 Year Change104.56%
3 Year Change-55.43%
5 Year Change-61.37%
Change since IPO-59.48%

Recent News & Updates

Shareholder Returns

ATTZA REITsZA Market
7D-3.6%-0.4%1.6%
1Y104.6%39.5%21.3%

Return vs Industry: ATT exceeded the ZA REITs industry which returned 39.4% over the past year.

Return vs Market: ATT exceeded the ZA Market which returned 21.2% over the past year.

Price Volatility

Is ATT's price volatile compared to industry and market?
ATT volatility
ATT Beta1.39
Industry Beta0.89
Market Beta1

Stable Share Price: ATT is not significantly more volatile than the rest of ZA stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: ATT's weekly volatility (6%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
n/an/aJackie van Niekerkhttps://www.attacq.co.za

Attacq is a South African-based Real Estate Investment Trust (REIT), with a vision of delivering total returns comprising sustainable income return and long-term capital growth through a focused approach in real estate investments and developments. Attacq’s diversified South African portfolio provides sustainable community spaces in its respective nodes, aimed at being the destination of choice and setting Attacq apart from its peers. The group’s business model is based on four drivers, namely the South African portfolio, Developments at Waterfall, Investment in MAS Real Estate Inc. (MAS) and the Rest of Africa retail investments.

Attacq Fundamentals Summary

How do Attacq's earnings and revenue compare to its market cap?
ATT fundamental statistics
Market CapR4.75b
Earnings (TTM)R154.12m
Revenue (TTM)R2.46b

30.8x

P/E Ratio

1.9x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
ATT income statement (TTM)
RevenueR2.46b
Cost of RevenueR798.71m
Gross ProfitR1.66b
ExpensesR1.51b
EarningsR154.12m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.22
Gross Margin67.54%
Net Profit Margin6.26%
Debt/Equity Ratio89.4%

How did ATT perform over the long term?

See historical performance and comparison

Valuation

Is Attacq undervalued compared to its fair value and its price relative to the market?

30.79x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: ATT (ZAR6.73) is trading above our estimate of fair value (ZAR2.89)

Significantly Below Fair Value: ATT is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: ATT is poor value based on its PE Ratio (30.8x) compared to the ZA REITs industry average (11.8x).

PE vs Market: ATT is poor value based on its PE Ratio (30.8x) compared to the ZA market (11.4x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate ATT's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: ATT is good value based on its PB Ratio (0.4x) compared to the ZA REITs industry average (0.6x).


Future Growth

How is Attacq forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

0.8%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if ATT's forecast earnings growth is above the savings rate (8.8%).

Earnings vs Market: Insufficient data to determine if ATT's earnings are forecast to grow faster than the ZA market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: ATT's revenue (0.8% per year) is forecast to grow slower than the ZA market (6.2% per year).

High Growth Revenue: ATT's revenue (0.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if ATT's Return on Equity is forecast to be high in 3 years time


Past Performance

How has Attacq performed over the past 5 years?

-54.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ATT has a large one-off loss of ZAR728.4M impacting its June 30 2021 financial results.

Growing Profit Margin: ATT became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: ATT's earnings have declined by 54.2% per year over the past 5 years.

Accelerating Growth: ATT has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: ATT has become profitable in the last year, making it difficult to compare its past year earnings growth to the REITs industry (111.5%).


Return on Equity

High ROE: ATT's Return on Equity (1.4%) is considered low.


Financial Health

How is Attacq's financial position?


Financial Position Analysis

Short Term Liabilities: ATT's short term assets (ZAR3.1B) exceed its short term liabilities (ZAR2.2B).

Long Term Liabilities: ATT's short term assets (ZAR3.1B) do not cover its long term liabilities (ZAR9.3B).


Debt to Equity History and Analysis

Debt Level: ATT's debt to equity ratio (89.4%) is considered high.

Reducing Debt: ATT's debt to equity ratio has increased from 80.7% to 89.4% over the past 5 years.

Debt Coverage: ATT's debt is not well covered by operating cash flow (3.4%).

Interest Coverage: ATT's interest payments on its debt are not well covered by EBIT (1.8x coverage).


Balance Sheet


Dividend

What is Attacq current dividend yield, its reliability and sustainability?

8.26%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate ATT's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate ATT's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if ATT's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if ATT's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: ATT is not paying a notable dividend for the ZA market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of ATT's dividend in 3 years as they are not forecast to pay a notable one for the ZA market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.3yrs

Average management tenure


CEO

Jackie van Niekerk (38 yo)

0.42

Tenure

R4,467,000

Compensation

Ms. Jacqueline Rouxanne van Niekerk, also known as Jackie, was Non-Executive Director of Grit Real Estate Income Group. She serves as Chief Executive Officer at Attacq Limited since May 1, 2021. She joined...


CEO Compensation Analysis

Compensation vs Market: Jackie's total compensation ($USD305.49K) is below average for companies of similar size in the ZA market ($USD717.23K).

Compensation vs Earnings: Jackie's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: ATT's management team is considered experienced (3.3 years average tenure).


Board Members

Experienced Board: ATT's board of directors are considered experienced (3.7 years average tenure).


Ownership

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

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Attacq Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Attacq Limited
  • Ticker: ATT
  • Exchange: JSE
  • Founded: NaN
  • Industry: Diversified REITs
  • Sector: Real Estate
  • Market Cap: R4.745b
  • Shares outstanding: 705.12m
  • Website: https://www.attacq.co.za

Location

  • Attacq Limited
  • Att House
  • 2nd Floor
  • Waterfall City
  • Gauteng
  • 2090
  • South Africa

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/15 22:45
End of Day Share Price2021/10/15 00:00
Earnings2021/06/30
Annual Earnings2021/06/30


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.