Transcend Residential Property Fund Limited focuses on acquiring and managing residential properties in South Africa.
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Transcend Residential Property Fund Competitors
Price History & Performance
|Historical stock prices|
|Current Share Price||R4.55|
|52 Week High||R4.20|
|52 Week Low||R5.50|
|1 Month Change||0%|
|3 Month Change||8.33%|
|1 Year Change||-24.17%|
|3 Year Change||-25.41%|
|5 Year Change||n/a|
|Change since IPO||-28.63%|
Recent News & Updates
|TPF||ZA REITs||ZA Market|
Return vs Industry: TPF underperformed the ZA REITs industry which returned 39.5% over the past year.
Return vs Market: TPF underperformed the ZA Market which returned 21.3% over the past year.
Stable Share Price: TPF is less volatile than 75% of ZA stocks over the past 3 months, typically moving +/- 2% a week.
Volatility Over Time: TPF's weekly volatility (2%) has been stable over the past year.
About the Company
Transcend Residential Property Fund Limited focuses on acquiring and managing residential properties in South Africa. It holds 13 properties comprising 2 472 units located primarily in Gauteng, as well as the Western Cape and Mpumalanga. The company qualifies as a real estate investment trust for federal income tax purposes.
Transcend Residential Property Fund Fundamentals Summary
|TPF fundamental statistics|
Is TPF overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|TPF income statement (TTM)|
|Cost of Revenue||R119.65m|
Last Reported Earnings
Jun 30, 2021
Next Earnings Date
|Earnings per share (EPS)||1.31|
|Net Profit Margin||55.05%|
How did TPF perform over the long term?See historical performance and comparison
15.1%Current Dividend Yield
Is Transcend Residential Property Fund undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: TPF (ZAR4.55) is trading below our estimate of fair value (ZAR5.05)
Significantly Below Fair Value: TPF is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: TPF is good value based on its PE Ratio (3.5x) compared to the ZA REITs industry average (9.9x).
PE vs Market: TPF is good value based on its PE Ratio (3.5x) compared to the ZA market (11.2x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate TPF's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: TPF is good value based on its PB Ratio (0.5x) compared to the ZA REITs industry average (0.6x).
How is Transcend Residential Property Fund forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
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 Transcend Residential Property Fund 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.
How has Transcend Residential Property Fund performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: TPF has a large one-off gain of ZAR67.4M impacting its June 30 2021 financial results.
Growing Profit Margin: TPF became profitable in the past.
Past Earnings Growth Analysis
Earnings Trend: TPF's earnings have declined by 3.2% per year over the past 5 years.
Accelerating Growth: TPF has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.
Earnings vs Industry: TPF has become profitable in the last year, making it difficult to compare its past year earnings growth to the REITs industry (132.9%).
Return on Equity
High ROE: TPF's Return on Equity (13.6%) is considered low.
How is Transcend Residential Property Fund's financial position?
Financial Position Analysis
Short Term Liabilities: TPF's short term assets (ZAR225.7M) do not cover its short term liabilities (ZAR633.2M).
Long Term Liabilities: TPF's short term assets (ZAR225.7M) do not cover its long term liabilities (ZAR680.9M).
Debt to Equity History and Analysis
Debt Level: TPF's debt to equity ratio (99.9%) is considered high.
Reducing Debt: Insufficient data to determine if TPF's debt to equity ratio has reduced over the past 5 years.
Debt Coverage: TPF's debt is not well covered by operating cash flow (4.1%).
Interest Coverage: TPF's interest payments on its debt are not well covered by EBIT (2.4x coverage).
What is Transcend Residential Property Fund current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: TPF's dividend (15.13%) is higher than the bottom 25% of dividend payers in the ZA market (3.07%).
High Dividend: TPF's dividend (15.13%) is in the top 25% of dividend payers in the ZA market (8.09%)
Stability and Growth of Payments
Stable Dividend: TPF has been paying a dividend for less than 10 years and during this time payments have been volatile.
Growing Dividend: TPF's dividend payments have increased, but the company has only paid a dividend for 5 years.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (113.9%), TPF's dividend payments are not well 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
Myles Kritzinger (36 yo)
Mr. Myles Kritzinger, CA(SA), has been Executive Director of Transcend Residential Property since March 9, 2018 and has been its Chief Executive Officer since January 1, 2021. He was the Chief Financial Of...
CEO Compensation Analysis
Compensation vs Market: Myles's total compensation ($USD124.67K) is below average for companies of similar size in the ZA market ($USD280.19K).
Compensation vs Earnings: Myles's compensation has been consistent with company performance over the past year.
Experienced Management: TPF's management team is not considered experienced ( 0.8 years average tenure), which suggests a new team.
Experienced Board: TPF's board of directors are considered experienced (4.4 years average tenure).
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
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Transcend Residential Property Fund Limited's employee growth, exchange listings and data sources
- Name: Transcend Residential Property Fund Limited
- Ticker: TPF
- Exchange: JSE
- Founded: 2016
- Industry: Residential REITs
- Sector: Real Estate
- Market Cap: R595.571m
- Shares outstanding: 130.89m
- Website: https://transcendproperty.co.za
- Transcend Residential Property Fund Limited
- Glasgow House
- Block G, Ground Floor
- South Africa
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/10/17 17:06|
|End of Day Share Price||2021/10/15 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.