Stenprop is a UK REIT listed on the LSE and the JSE.
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Price History & Performance
|Historical stock prices|
|Current Share Price||R36.84|
|52 Week High||R25.00|
|52 Week Low||R38.00|
|1 Month Change||1.26%|
|3 Month Change||9.16%|
|1 Year Change||34.01%|
|3 Year Change||75.43%|
|5 Year Change||90.00%|
|Change since IPO||74.18%|
Recent News & Updates
|MLI||ZA REITs||ZA Market|
Return vs Industry: MLI underperformed the ZA REITs industry which returned 36.1% over the past year.
Return vs Market: MLI exceeded the ZA Market which returned 19.9% over the past year.
Stable Share Price: MLI is not significantly more volatile than the rest of ZA stocks over the past 3 months, typically moving +/- 5% a week.
Volatility Over Time: MLI's weekly volatility (5%) has been stable over the past year.
About the Company
Stenprop is a UK REIT listed on the LSE and the JSE. The objective of the Company is to deliver sustainable growing income to its investors. Stenprop's investment policy is to invest in a diversified portfolio of UK multi-let industrial (MLI) properties with the strategic goal of becoming the leading MLI business in the UK.
Industrials REIT Fundamentals Summary
|MLI fundamental statistics|
Is MLI overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|MLI income statement (TTM)|
|Cost of Revenue||UK£10.98m|
Last Reported Earnings
Mar 31, 2021
Next Earnings Date
|Earnings per share (EPS)||0.19|
|Net Profit Margin||118.10%|
How did MLI perform over the long term?See historical performance and comparison
3.7%Current Dividend Yield
Is Industrials REIT 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: MLI (ZAR36.84) is trading above our estimate of fair value (ZAR32.12)
Significantly Below Fair Value: MLI is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: MLI is good value based on its PE Ratio (9.9x) compared to the ZA REITs industry average (10.2x).
PE vs Market: MLI is good value based on its PE Ratio (9.9x) compared to the ZA market (11.4x).
Price to Earnings Growth Ratio
PEG Ratio: MLI's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: MLI is overvalued based on its PB Ratio (1.2x) compared to the ZA REITs industry average (0.6x).
How is Industrials REIT forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: MLI's earnings are forecast to decline over the next 3 years (-1.7% per year).
Earnings vs Market: MLI's earnings are forecast to decline over the next 3 years (-1.7% per year).
High Growth Earnings: MLI's earnings are forecast to decline over the next 3 years.
Revenue vs Market: MLI's revenue is expected to decline over the next 3 years (-2.4% per year).
High Growth Revenue: MLI's revenue is forecast to decline over the next 3 years (-2.4% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if MLI's Return on Equity is forecast to be high in 3 years time
How has Industrials REIT performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: MLI has a large one-off gain of £37.3M impacting its March 31 2021 financial results.
Growing Profit Margin: MLI's current net profit margins are higher than last year (38%).
Past Earnings Growth Analysis
Earnings Trend: MLI's earnings have grown by 6.1% per year over the past 5 years.
Accelerating Growth: MLI's earnings growth over the past year (203.7%) exceeds its 5-year average (6.1% per year).
Earnings vs Industry: MLI earnings growth over the past year (203.7%) exceeded the REITs industry 132.9%.
Return on Equity
High ROE: MLI's Return on Equity (12.7%) is considered low.
How is Industrials REIT's financial position?
Financial Position Analysis
Short Term Liabilities: MLI's short term assets (£103.7M) exceed its short term liabilities (£38.2M).
Long Term Liabilities: MLI's short term assets (£103.7M) do not cover its long term liabilities (£177.1M).
Debt to Equity History and Analysis
Debt Level: MLI's debt to equity ratio (42.6%) is considered high.
Reducing Debt: MLI's debt to equity ratio has reduced from 81.6% to 42.6% over the past 5 years.
Debt Coverage: MLI's debt is not well covered by operating cash flow (9.4%).
Interest Coverage: MLI's interest payments on its debt are well covered by EBIT (4.1x coverage).
What is Industrials REIT current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: MLI's dividend (3.69%) is higher than the bottom 25% of dividend payers in the ZA market (3.08%).
High Dividend: MLI's dividend (3.69%) is low compared to the top 25% of dividend payers in the ZA market (8.02%).
Stability and Growth of Payments
Stable Dividend: MLI has been paying a dividend for less than 10 years and during this time payments have been volatile.
Growing Dividend: MLI's dividend payments have increased, but the company has only paid a dividend for 6 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (66.6%), MLI's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: MLI's dividends in 3 years are forecast to be covered by earnings (88.9% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Paul Arenson (58 yo)
Mr. Paul Maurice Arenson has been the Chief Executive Officer at Stenprop Limited since October 2, 2014. Mr. Arenson served as Managing Director at Stenham Property Ltd. from inception until October 2014 a...
CEO Compensation Analysis
Compensation vs Market: Paul's total compensation ($USD875.36K) is about average for companies of similar size in the ZA market ($USD906.57K).
Compensation vs Earnings: Paul's compensation has been consistent with company performance over the past year.
Experienced Management: MLI's management team is considered experienced (2.8 years average tenure).
Experienced Board: MLI's board of directors are considered experienced (3.4 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: MLI insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 2.8%.
Industrials REIT Limited's employee growth, exchange listings and data sources
- Name: Industrials REIT Limited
- Ticker: MLI
- Exchange: JSE
- Founded: 2012
- Industry: Diversified REITs
- Sector: Real Estate
- Market Cap: R10.713b
- Shares outstanding: 290.79m
- Website: https://www.stenprop.com
Number of Employees
- Industrials REIT Limited
- Kingsway House
- Havilland Street
- Saint Peter Port
- GY1 2QE
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/10/21 21:04|
|End of Day Share Price||2021/10/21 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.