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HYP

Hyprop InvestmentsJSE:HYP Stock Report

Market Cap

R9.0b

7D

-10.9%

1Y

43.6%

Updated

20 Oct, 2021

Data

Company Financials +
HYP fundamental analysis
Snowflake Score
Valuation3/6
Future Growth0/6
Past Performance0/6
Financial Health4/6
Dividends3/6

HYP Overview

Hyprop is a retail-focused REIT listed on the JSE with interests in a R48.5 billion portfolio of shopping centres in South Africa, Eastern Europe and sub-Saharan Africa.

Hyprop Investments Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Hyprop Investments
Historical stock prices
Current Share PriceR29.40
52 Week HighR18.34
52 Week LowR34.29
Beta1.32
1 Month Change1.70%
3 Month Change14.49%
1 Year Change43.56%
3 Year Change-67.69%
5 Year Change-75.23%
Change since IPO-64.92%

Recent News & Updates

Shareholder Returns

HYPZA REITsZA Market
7D-10.9%0.5%1.0%
1Y43.6%41.5%20.8%

Return vs Industry: HYP exceeded the ZA REITs industry which returned 41.5% over the past year.

Return vs Market: HYP exceeded the ZA Market which returned 20.8% over the past year.

Price Volatility

Is HYP's price volatile compared to industry and market?
HYP volatility
HYP Beta1.32
Industry Beta0.89
Market Beta1

Stable Share Price: HYP is not significantly more volatile than the rest of ZA stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: HYP's weekly volatility (7%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1987n/aMorné Wilkenhttps://www.hyprop.co.za

Hyprop is a retail-focused REIT listed on the JSE with interests in a R48.5 billion portfolio of shopping centres in South Africa, Eastern Europe and sub-Saharan Africa. The Company’s focus is on creating environments and opportunities for people to connect and have authentic and meaningful experiences. It does so by owning and managing dominant retail centres in mixed-used precincts, in key economic nodes in South Africa and Eastern Europe.

Hyprop Investments Fundamentals Summary

How do Hyprop Investments's earnings and revenue compare to its market cap?
HYP fundamental statistics
Market CapR9.04b
Earnings (TTM)-R811.62m
Revenue (TTM)R2.78b

3.3x

P/S Ratio

-11.1x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
HYP income statement (TTM)
RevenueR2.78b
Cost of RevenueR1.18b
Gross ProfitR1.60b
ExpensesR2.41b
Earnings-R811.62m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)-2.64
Gross Margin57.58%
Net Profit Margin-29.22%
Debt/Equity Ratio28.7%

How did HYP perform over the long term?

See historical performance and comparison

Dividends

11.4%

Current Dividend Yield

-542%

Payout Ratio

Valuation

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

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: HYP (ZAR29.4) is trading below our estimate of fair value (ZAR174.17)

Significantly Below Fair Value: HYP is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: HYP is unprofitable, so we can't compare its PE Ratio to the ZA REITs industry average.

PE vs Market: HYP is unprofitable, so we can't compare its PE Ratio to the ZA market.


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: HYP is good value based on its PB Ratio (0.5x) compared to the ZA REITs industry average (0.7x).


Future Growth

How is Hyprop Investments forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

0.7%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

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

Earnings vs Market: Insufficient data to determine if HYP'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: HYP's revenue (0.7% per year) is forecast to grow slower than the ZA market (6.2% per year).

High Growth Revenue: HYP's revenue (0.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: HYP's Return on Equity is forecast to be low in 3 years time (11.2%).


Past Performance

How has Hyprop Investments performed over the past 5 years?

-63.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: HYP is currently unprofitable.

Growing Profit Margin: HYP is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: HYP is unprofitable, and losses have increased over the past 5 years at a rate of 63.7% per year.

Accelerating Growth: Unable to compare HYP's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: HYP is unprofitable, making it difficult to compare its past year earnings growth to the REITs industry (132.9%).


Return on Equity

High ROE: HYP has a negative Return on Equity (-4.34%), as it is currently unprofitable.


Financial Health

How is Hyprop Investments's financial position?


Financial Position Analysis

Short Term Liabilities: HYP's short term assets (ZAR3.9B) exceed its short term liabilities (ZAR3.1B).

Long Term Liabilities: HYP's short term assets (ZAR3.9B) do not cover its long term liabilities (ZAR4.5B).


Debt to Equity History and Analysis

Debt Level: HYP's debt to equity ratio (28.7%) is considered satisfactory.

Reducing Debt: HYP's debt to equity ratio has reduced from 43.3% to 28.7% over the past 5 years.

Debt Coverage: HYP's debt is well covered by operating cash flow (22.7%).

Interest Coverage: HYP's interest payments on its debt are not well covered by EBIT (2.9x coverage).


Balance Sheet


Dividend

What is Hyprop Investments's current dividend yield, its reliability and sustainability?

11.45%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: HYP's dividend (11.45%) is higher than the bottom 25% of dividend payers in the ZA market (3.11%).

High Dividend: HYP's dividend (11.45%) is in the top 25% of dividend payers in the ZA market (8.07%)


Stability and Growth of Payments

Stable Dividend: HYP has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: HYP has only been paying a dividend for 7 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: HYP is paying a dividend but the company is unprofitable.


Future Payout to Shareholders

Future Dividend Coverage: HYP's dividends in 3 years are forecast to be covered by earnings (100% payout ratio).


Next Steps

Management

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

3.0yrs

Average management tenure


CEO

Morné Wilken (50 yo)

2.83yrs

Tenure

R4,975,000

Compensation

Mr. Morné C. Wilken, B.Eng (Hons) Industrial, has been the Chief Executive Officer and Executive Director of Hyprop Investments Limited since December 27, 2018. Mr. Wilken was Chief Executive Officer of MA...


CEO Compensation Analysis

Compensation vs Market: Morné's total compensation ($USD344.28K) is below average for companies of similar size in the ZA market ($USD905.06K).

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


Leadership Team

Experienced Management: HYP's management team is considered experienced (3 years average tenure).


Board Members

Experienced Board: HYP's board of directors are considered experienced (3.3 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.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 20.9%.


Top Shareholders

Company Information

Hyprop Investments Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Hyprop Investments Limited
  • Ticker: HYP
  • Exchange: JSE
  • Founded: 1987
  • Industry: Retail REITs
  • Sector: Real Estate
  • Market Cap: R9.039b
  • Shares outstanding: 307.44m
  • Website: https://www.hyprop.co.za

Number of Employees


Location

  • Hyprop Investments Limited
  • Cradock Heights
  • 2nd Floor
  • Rosebank
  • Gauteng
  • 2196
  • South Africa

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/20 22:02
End of Day Share Price2021/10/20 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.