Established in 2008, MAS has assembled, through acquisition and development, a high quality portfolio of retail, office, industrial, logistics and hotel properties in Romania, Germany, the United Kingdom, Bulgaria, Poland and Switzerland.
Price History & Performance
|Historical stock prices|
|Current Share Price||R17.68|
|52 Week High||R9.49|
|52 Week Low||R19.79|
|1 Month Change||-2.59%|
|3 Month Change||-0.84%|
|1 Year Change||68.38%|
|3 Year Change||-20.40%|
|5 Year Change||-16.80%|
|Change since IPO||81.71%|
Recent News & Updates
MAS Real Estate's (JSE:MSP) Shareholders May Want To Dig Deeper Than Statutory Profit
The recent earnings posted by MAS Real Estate Inc. ( JSE:MSP ) were solid, but the stock didn't move as much as we...
Insider Buying: The MAS Real Estate Inc. (JSE:MSP) Independent Non-Executive Director Just Bought 73% More Shares
Even if it's not a huge purchase, we think it was good to see that Brett Nagle, the Independent Non-Executive Director...
|MSP||ZA Real Estate||ZA Market|
Return vs Industry: MSP exceeded the ZA Real Estate industry which returned 49% over the past year.
Return vs Market: MSP exceeded the ZA Market which returned 19% over the past year.
Stable Share Price: MSP is less volatile than 75% of ZA stocks over the past 3 months, typically moving +/- 4% a week.
Volatility Over Time: MSP's weekly volatility (4%) has been stable over the past year.
About the Company
Established in 2008, MAS has assembled, through acquisition and development, a high quality portfolio of retail, office, industrial, logistics and hotel properties in Romania, Germany, the United Kingdom, Bulgaria, Poland and Switzerland. The income-generating properties have income derived from tenants with exceptional covenants. MAS has embarked upon expansion into the growing economies of CEE.
MAS Real Estate Fundamentals Summary
|MSP fundamental statistics|
Is MSP overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|MSP income statement (TTM)|
|Cost of Revenue||€10.76m|
Last Reported Earnings
Jun 30, 2021
Next Earnings Date
|Earnings per share (EPS)||0.093|
|Net Profit Margin||145.08%|
How did MSP perform over the long term?See historical performance and comparison
5.8%Current Dividend Yield
Is MAS Real Estate 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: MSP (ZAR17.68) is trading above our estimate of fair value (ZAR9.72)
Significantly Below Fair Value: MSP is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: MSP is poor value based on its PE Ratio (11x) compared to the ZA Real Estate industry average (9.4x).
PE vs Market: MSP is good value based on its PE Ratio (11x) compared to the ZA market (11.3x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate MSP's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: MSP is overvalued based on its PB Ratio (0.8x) compared to the ZA Real Estate industry average (0.6x).
How is MAS Real Estate forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?
Forecasted annual revenue growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: Insufficient data to determine if MSP's forecast earnings growth is above the savings rate (8.8%).
Earnings vs Market: Insufficient data to determine if MSP'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: MSP's revenue (8.3% per year) is forecast to grow faster than the ZA market (6.4% per year).
High Growth Revenue: MSP's revenue (8.3% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: MSP's Return on Equity is forecast to be low in 3 years time (7.1%).
How has MAS Real Estate performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: MSP has a large one-off gain of €27.4M impacting its June 30 2021 financial results.
Growing Profit Margin: MSP became profitable in the past.
Past Earnings Growth Analysis
Earnings Trend: MSP's earnings have grown by 0.3% per year over the past 5 years.
Accelerating Growth: MSP has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.
Earnings vs Industry: MSP has become profitable in the last year, making it difficult to compare its past year earnings growth to the Real Estate industry (0.5%).
Return on Equity
High ROE: MSP's Return on Equity (7.6%) is considered low.
How is MAS Real Estate's financial position?
Financial Position Analysis
Short Term Liabilities: MSP's short term assets (€534.7M) exceed its short term liabilities (€136.1M).
Long Term Liabilities: MSP's short term assets (€534.7M) exceed its long term liabilities (€321.1M).
Debt to Equity History and Analysis
Debt Level: MSP's debt to equity ratio (46.9%) is considered high.
Reducing Debt: MSP's debt to equity ratio has increased from 12.1% to 46.9% over the past 5 years.
Debt Coverage: MSP's debt is not well covered by operating cash flow (9.8%).
Interest Coverage: MSP earns more interest than it pays, so coverage of interest payments is not a concern.
What is MAS Real Estate current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: MSP's dividend (5.77%) is higher than the bottom 25% of dividend payers in the ZA market (3.14%).
High Dividend: MSP's dividend (5.77%) is low compared to the top 25% of dividend payers in the ZA market (7.52%).
Stability and Growth of Payments
Stable Dividend: MSP's dividend payments have been volatile in the past 10 years.
Growing Dividend: MSP's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (63.5%), MSP's dividend 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.
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Mr. Martin Slabbert, BCom, LLB (cum laude), MCom (cum laude), Dip FMI, CF (England and Wales), is Chief Executive Officer at MAS Real Estate Inc. since November 20, 2019 and serves as its Director since No...
Experienced Management: MSP's management team is not considered experienced ( 1.9 years average tenure), which suggests a new team.
Experienced Board: MSP's board of directors are not considered experienced ( 1.8 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: MSP 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.
MAS Real Estate Inc.'s employee growth, exchange listings and data sources
- Name: MAS Real Estate Inc.
- Ticker: MSP
- Exchange: JSE
- Founded: 2008
- Industry: Real Estate Operating Companies
- Sector: Real Estate
- Market Cap: R12.491b
- Shares outstanding: 706.49m
- Website: https://www.masrei.com
Number of Employees
- MAS Real Estate Inc.
- Clarendon House
- 2nd Floor
- IM1 2LN
- Isle of Man
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/10/23 17:05|
|End of Day Share Price||2021/10/22 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.