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ILU

Indluplace PropertiesJSE:ILU Stock Report

Market Cap

R1.0b

7D

-4.0%

1Y

4.0%

Updated

21 Oct, 2021

Data

Company Financials
ILU fundamental analysis
Snowflake Score
Valuation3/6
Future Growth0/6
Past Performance0/6
Financial Health1/6
Dividends3/6

ILU Overview

IIndluplace is a proud South African property investor owning a portfolio primarily focused on the affordable end of the residential rental market.

Indluplace Properties Competitors

Transcend Residential Property Fund

JSE:TPF

R595.6m

Vukile Property Fund

JSE:VKE

R11.5b

Stor-Age Property REIT

JSE:SSS

R6.0b

SA Real Estate

JSE:SAC

R5.3b

Price History & Performance

Summary of all time highs, changes and price drops for Indluplace Properties
Historical stock prices
Current Share PriceR3.12
52 Week HighR2.75
52 Week LowR3.99
Beta0.42
1 Month Change-10.35%
3 Month Change-5.46%
1 Year Change4.00%
3 Year Change-62.81%
5 Year Change-66.27%
Change since IPO-73.22%

Recent News & Updates

Jan 15
Our Take On Indluplace Properties' (JSE:ILU) CEO Salary

Our Take On Indluplace Properties' (JSE:ILU) CEO Salary

This article will reflect on the compensation paid to Petrus de Wit who has served as CEO of Indluplace Properties...

Nov 23
Indluplace Properties (JSE:ILU) Shareholders Received A Total Return Of Negative 47% In The Last Five Years

Indluplace Properties (JSE:ILU) Shareholders Received A Total Return Of Negative 47% In The Last Five Years

Indluplace Properties Limited (JSE:ILU) shareholders will doubtless be very grateful to see the share price up 32% in...

Shareholder Returns

ILUZA REITsZA Market
7D-4.0%0.3%0.9%
1Y4.0%36.1%19.9%

Return vs Industry: ILU underperformed the ZA REITs industry which returned 36.1% over the past year.

Return vs Market: ILU underperformed the ZA Market which returned 19.9% over the past year.

Price Volatility

Is ILU's price volatile compared to industry and market?
ILU volatility
ILU Beta0.42
Industry Beta0.89
Market Beta1

Stable Share Price: ILU is more volatile than 75% of ZA stocks over the past 3 months, typically moving +/- 11% a week.

Volatility Over Time: ILU's weekly volatility (11%) has been stable over the past year, but is still higher than 75% of ZA stocks.

About the Company

FoundedEmployeesCEOWebsite
2013n/aPetrus de Withttps://www.indluplace.co.za

IIndluplace is a proud South African property investor owning a portfolio primarily focused on the affordable end of the residential rental market. The company was listed on the Main Board of the JSE in June 2015 and currently owns a portfolio of 9,668 residential units and 18, 870m2 of associated retail space. The portfolio is valued at R 3,8 billion.

Indluplace Properties Fundamentals Summary

How do Indluplace Properties's earnings and revenue compare to its market cap?
ILU fundamental statistics
Market CapR1.05b
Earnings (TTM)-R222.50m
Revenue (TTM)R602.81m

1.7x

P/S Ratio

-4.7x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
ILU income statement (TTM)
RevenueR602.81m
Cost of RevenueR333.92m
Gross ProfitR268.90m
ExpensesR491.40m
Earnings-R222.50m

Last Reported Earnings

Mar 31, 2021

Next Earnings Date

Nov 17, 2021

Earnings per share (EPS)-0.66
Gross Margin44.61%
Net Profit Margin-36.91%
Debt/Equity Ratio64.4%

How did ILU perform over the long term?

See historical performance and comparison

Dividends

14.1%

Current Dividend Yield

87%

Payout Ratio

Valuation

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

45.7%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: ILU (ZAR3.12) is trading below our estimate of fair value (ZAR5.75)

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


Price To Earnings Ratio

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

PE vs Market: ILU 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 ILU's PEG Ratio to determine if it is good value.


Price to Book Ratio

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


Future Growth

How is Indluplace Properties forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

11.9%

Forecasted Real Estate industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Indluplace Properties has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Past Performance

How has Indluplace Properties performed over the past 5 years?

-58.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ILU is currently unprofitable.

Growing Profit Margin: ILU is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: ILU is unprofitable, and losses have increased over the past 5 years at a rate of 58.4% per year.

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

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


Return on Equity

High ROE: ILU has a negative Return on Equity (-9.25%), as it is currently unprofitable.


Financial Health

How is Indluplace Properties's financial position?


Financial Position Analysis

Short Term Liabilities: ILU's short term assets (ZAR147.5M) exceed its short term liabilities (ZAR117.6M).

Long Term Liabilities: ILU's short term assets (ZAR147.5M) do not cover its long term liabilities (ZAR1.5B).


Debt to Equity History and Analysis

Debt Level: ILU's debt to equity ratio (64.4%) is considered high.

Reducing Debt: ILU's debt to equity ratio has increased from 0.07% to 64.4% over the past 5 years.

Debt Coverage: ILU's debt is not well covered by operating cash flow (10.4%).

Interest Coverage: ILU's interest payments on its debt are not well covered by EBIT (2.1x coverage).


Balance Sheet


Dividend

What is Indluplace Properties's current dividend yield, its reliability and sustainability?

14.11%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: ILU's dividend (14.11%) is higher than the bottom 25% of dividend payers in the ZA market (3.08%).

High Dividend: ILU's dividend (14.11%) is in the top 25% of dividend payers in the ZA market (8.02%)


Stability and Growth of Payments

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

Growing Dividend: ILU's dividend payments have increased, but the company has only paid a dividend for 6 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (86.9%), ILU's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

5.6yrs

Average management tenure


CEO

Petrus de Wit (54 yo)

5.58yrs

Tenure

R3,838,412

Compensation

Mr. Petrus Carel de Wit, B.Sc Building Science, has been the Chief Executive Officer of Indluplace Properties Limited since March 14, 2016 and also its Executive Director since June 19, 2015. Mr. de Wit se...


CEO Compensation Analysis

Compensation vs Market: Petrus's total compensation ($USD263.30K) is about average for companies of similar size in the ZA market ($USD283.52K).

Compensation vs Earnings: Petrus's compensation has increased whilst the company is unprofitable.


Leadership Team

Experienced Management: ILU's management team is seasoned and experienced (5.6 years average tenure).


Board Members

Experienced Board: ILU's board of directors are considered experienced (6.1 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 5.4%.


Top Shareholders

Company Information

Indluplace Properties Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Indluplace Properties Limited
  • Ticker: ILU
  • Exchange: JSE
  • Founded: 2013
  • Industry: Residential REITs
  • Sector: Real Estate
  • Market Cap: R1.050b
  • Shares outstanding: 336.52m
  • Website: https://www.indluplace.co.za

Location

  • Indluplace Properties Limited
  • Upper Building
  • 3rd Floor
  • Johannesburg
  • 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 Analysis2021/10/21 21:04
End of Day Share Price2021/10/21 00:00
Earnings2021/03/31
Annual Earnings2020/09/30


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.