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Propertylink Group

ASX:PLG
Snowflake Description

Average dividend payer and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PLG
ASX
A$696M
Market Cap
  1. Home
  2. AU
  3. Real Estate
Company description

Propertylink is an A-REIT, listed on the Australian Stock Exchange under the code “PLG”. The last earnings update was 61 days ago. More info.


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PLG Share Price and Events
7 Day Returns
0%
ASX:PLG
3.3%
AU REITs
1.7%
AU Market
1 Year Returns
12.1%
ASX:PLG
20.6%
AU REITs
5.4%
AU Market
PLG Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Propertylink Group (PLG) 0% 0% 0% 12.1% - -
AU REITs 3.3% 0.5% 7.2% 20.6% 18.6% 67.4%
AU Market 1.7% 3.1% 7.8% 5.4% 20.2% 8.2%
1 Year Return vs Industry and Market
  • PLG underperformed the REITs industry which returned 20.6% over the past year.
  • PLG outperformed the Market in Australia which returned 5.4% over the past year.
Price Volatility
PLG
Industry
5yr Volatility vs Market

Value

 Is Propertylink Group undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Propertylink Group to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Propertylink Group.

ASX:PLG Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.4%
Perpetual Growth Rate 10-Year AU Government Bond Rate 2.3%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for ASX:PLG
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AU Govt Bond Rate 2.3%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.54
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.54 (1 + (1- 30%) (62.93%))
0.851
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.85
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.31% + (0.851 * 5.96%)
7.38%

Discounted Cash Flow Calculation for ASX:PLG using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Propertylink Group is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

ASX:PLG DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (AUD, Millions) Source Present Value
Discounted (@ 7.38%)
2019 38.62 Est @ -18.24% 35.96
2020 33.95 Est @ -12.07% 29.44
2021 31.32 Est @ -7.76% 25.29
2022 29.84 Est @ -4.74% 22.44
2023 29.05 Est @ -2.62% 20.35
2024 28.72 Est @ -1.14% 18.73
2025 28.69 Est @ -0.11% 17.42
2026 28.87 Est @ 0.62% 16.33
2027 29.19 Est @ 1.13% 15.38
2028 29.63 Est @ 1.48% 14.53
Present value of next 10 years cash flows A$215.87
ASX:PLG DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= A$29.63 × (1 + 2.31%) ÷ (7.38% – 2.31%)
A$597.59
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= A$597.59 ÷ (1 + 7.38%)10
A$293.09
ASX:PLG Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= A$215.87 + A$293.09
A$508.95
Equity Value per Share
(AUD)
= Total value / Shares Outstanding
= A$508.95 / 602.78
A$0.84
ASX:PLG Discount to Share Price
Calculation Result
Value per share (AUD) From above. A$0.84
Current discount Discount to share price of A$1.16
= -1 x (A$1.16 - A$0.84) / A$0.84
-36.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Propertylink Group is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Propertylink Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Propertylink Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ASX:PLG PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in AUD A$0.16
ASX:PLG Share Price ** ASX (2019-03-21) in AUD A$1.16
Australia REITs Industry PE Ratio Median Figure of 38 Publicly-Listed REITs Companies 10.99x
Australia Market PE Ratio Median Figure of 543 Publicly-Listed Companies 16.17x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Propertylink Group.

ASX:PLG PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ASX:PLG Share Price ÷ EPS (both in AUD)

= 1.16 ÷ 0.16

7.38x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Propertylink Group is good value based on earnings compared to the AU REITs industry average.
  • Propertylink Group is good value based on earnings compared to the Australia market.
Price based on expected Growth
Does Propertylink Group's expected growth come at a high price?
Raw Data
ASX:PLG PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.38x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
-0.2%per year
Australia REITs Industry PEG Ratio Median Figure of 33 Publicly-Listed REITs Companies 0.79x
Australia Market PEG Ratio Median Figure of 359 Publicly-Listed Companies 1.39x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Propertylink Group, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Propertylink Group's assets?
Raw Data
ASX:PLG PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in AUD A$1.05
ASX:PLG Share Price * ASX (2019-03-21) in AUD A$1.16
Australia REITs Industry PB Ratio Median Figure of 42 Publicly-Listed REITs Companies 1.13x
Australia Market PB Ratio Median Figure of 1,676 Publicly-Listed Companies 1.67x
ASX:PLG PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ASX:PLG Share Price ÷ Book Value per Share (both in AUD)

= 1.16 ÷ 1.05

1.1x

* Primary Listing of Propertylink Group.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Propertylink Group is good value based on assets compared to the AU REITs industry average.
X
Value checks
We assess Propertylink Group's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Propertylink Group has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Propertylink Group expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

  • No analysts cover Propertylink Group, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-0.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Propertylink Group expected to grow at an attractive rate?
  • Propertylink Group's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.3%.
Growth vs Market Checks
  • Propertylink Group's earnings are expected to decrease over the next 1-3 years, this is below the Australia market average.
  • Propertylink Group's revenues are expected to decrease over the next 1-3 years, this is below the Australia market average.
Annual Growth Rates Comparison
Raw Data
ASX:PLG Future Growth Rates Data Sources
Data Point Source Value (per year)
ASX:PLG Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts -0.2%
ASX:PLG Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts -4%
Australia REITs Industry Earnings Growth Rate Market Cap Weighted Average -3.6%
Australia REITs Industry Revenue Growth Rate Market Cap Weighted Average 0.2%
Australia Market Earnings Growth Rate Market Cap Weighted Average 6.8%
Australia Market Revenue Growth Rate Market Cap Weighted Average 3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
ASX:PLG Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in AUD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ASX:PLG Future Estimates Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-06-30 88 1
2020-06-30 85 1
2019-06-30 81 1
ASX:PLG Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2018-12-31 102 47 94
2018-09-30 109 58 109
2018-06-30 117 68 124
2018-03-31 117 65 122
2017-12-31 116 62 120
2017-09-30 110 52 99
2017-06-30 103 42 77
2017-03-31 88 34 57
2016-12-31 73 27 36
2016-09-30 47 17 22
2016-06-30 21 8 8

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Propertylink Group's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Propertylink Group's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
ASX:PLG Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Propertylink Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:PLG Future Estimates Data
Date (Data in AUD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-06-30
2020-06-30
2019-06-30
ASX:PLG Past Financials Data
Date (Data in AUD Millions) EPS *
2018-12-31 0.16
2018-09-30 0.18
2018-06-30 0.21
2018-03-31 0.20
2017-12-31 0.20
2017-09-30 0.17
2017-06-30 0.14
2017-03-31 0.15
2016-12-31 0.15
2016-09-30 0.16
2016-06-30 0.30

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Propertylink Group will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Propertylink Group's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Australia market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Australia market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Propertylink Group has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Propertylink Group performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Propertylink Group's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Propertylink Group has delivered over 20% year on year earnings growth in the past 5 years.
  • Propertylink Group's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Propertylink Group's 1-year earnings growth is negative, it can't be compared to the AU REITs industry average.
Earnings and Revenue History
Propertylink Group's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Propertylink Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:PLG Past Revenue, Cash Flow and Net Income Data
Date (Data in AUD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 101.80 94.12 10.60
2018-09-30 109.45 109.03 8.25
2018-06-30 117.09 123.93 5.90
2018-03-31 116.62 121.98 5.52
2017-12-31 116.14 120.04 5.14
2017-09-30 109.80 98.56 4.77
2017-06-30 103.46 77.09 4.41
2017-03-31 88.11 56.72 4.42
2016-12-31 72.77 36.35 4.43
2016-09-30 46.69 22.34 4.33
2016-06-30 20.61 8.33 4.23
2015-06-30 10.57 2.42 2.42
2014-06-30 6.01 0.64 1.36
2013-06-30 4.25 0.43 1.05
2012-06-30 3.59 -2.22 0.80

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Propertylink Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Propertylink Group used its assets more efficiently than the AU REITs industry average last year based on Return on Assets.
  • Propertylink Group's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Propertylink Group's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Propertylink Group has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Propertylink Group's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Propertylink Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Propertylink Group's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Propertylink Group's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Propertylink Group's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Propertylink Group Company Filings, last reported 3 months ago.

ASX:PLG Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 632.82 438.09 15.21
2018-09-30 632.82 438.09 15.21
2018-06-30 631.34 289.67 17.23
2018-03-31 631.34 289.67 17.23
2017-12-31 592.38 278.52 14.91
2017-09-30 592.38 278.52 14.91
2017-06-30 530.65 256.82 20.00
2017-03-31 530.65 256.82 20.00
2016-12-31 497.99 250.76 3.11
2016-09-30 497.99 250.76 3.11
2016-06-30 26.00 22.85 3.96
2015-06-30 24.88 11.08 2.35
2014-06-30 17.41 2.87 5.25
2013-06-30 17.11 12.69 0.28
2012-06-30 16.68 13.97 0.27
  • Propertylink Group's level of debt (69.2%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (44.7% vs 69.2% today).
  • Debt is not well covered by operating cash flow (10.8%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 5.4x coverage).
X
Financial health checks
We assess Propertylink Group's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Propertylink Group has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Propertylink Group's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
6.32%
Current annual income from Propertylink Group dividends. Estimated to be 6.64% next year.
If you bought A$2,000 of Propertylink Group shares you are expected to receive A$126 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Propertylink Group's pays a higher dividend yield than the bottom 25% of dividend payers in Australia (2.56%).
  • Propertylink Group's dividend is above the markets top 25% of dividend payers in Australia (5.71%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
ASX:PLG Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
Australia REITs Industry Average Dividend Yield Market Cap Weighted Average of 40 Stocks 4.6%
Australia Market Average Dividend Yield Market Cap Weighted Average of 417 Stocks 4.3%
Australia Minimum Threshold Dividend Yield 10th Percentile 1.6%
Australia Bottom 25% Dividend Yield 25th Percentile 2.6%
Australia Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

ASX:PLG Future Dividends Estimate Data
Date (Data in A$) Dividend per Share (annual) Avg. No. Analysts
2021-06-30 0.08 1.00
2020-06-30 0.08 1.00
2019-06-30 0.07 1.00
ASX:PLG Past Annualized Dividends Data
Date (Data in A$) Dividend per share (annual) Avg. Yield (%)
2018-12-19 0.073 6.296
2018-06-21 0.073 6.573
2017-08-17 0.072 7.346
2017-06-15 0.063 7.487
2016-09-29 0.000 0.000
2016-08-05 0.020 2.554

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Propertylink Group has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Propertylink Group only paid a dividend in the past 3 years.
Current Payout to shareholders
What portion of Propertylink Group's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.1x coverage).
X
Income/ dividend checks
We assess Propertylink Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.6%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Propertylink Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Propertylink Group has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Propertylink Group's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Stuart Dawes
COMPENSATION A$1,499,236
TENURE AS CEO 2.8 years
CEO Bio

Mr. Stuart Dawes, BComm, MAppFin serves as the Group Chief Executive Officer and Executive Director at Propertylink Group since July 05, 2016 and has been its Managing Director since April 5, 2017. Mr. Dawes is responsible for all aspects of Propertylink, with a strong focus on leading the strategic direction of Propertylink Group. He has been directly responsible for capital raising from global wholesale investors into the funds and mandates that Propertylink has created and overseeing the performance of these investments. He has over 19 years’ experience in the office, industrial and retail property sectors. He has held executive positions in investment banking and investment, funds and asset management in Australia and Europe across debt and equity real estate markets. He served as Head of Investment Management and Chief Operating Officer at Propertylink since 2009 and 2014 respectively. Prior to joining Propertylink, he swerved in the United Kingdom for Lend Lease Investment Management, where he primarily focused on the development of new fund and investment opportunities. Before moving to the United Kingdom in 2003, he served with Lend Lease’s Australian wholesale fund, Australian Prime Property Fund. He also has experience with Barclays Capital in its European structured finance business, where he concentrated on debt and equity transactions within Europe. He is a Director at Propertylink Investment Management Limited (PIML) since February 7, 2014. He is a Member of the Australian Institute of Company Directors. He holds a Bachelor of Commerce from the University of Western Sydney and a Master of Applied Finance from Macquarie University.

CEO Compensation
  • Stuart's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • Stuart's remuneration is higher than average for companies of similar size in Australia.
Management Team Tenure

Average tenure and age of the Propertylink Group management team in years:

2.1
Average Tenure
50
Average Age
  • The tenure for the Propertylink Group management team is about average.
Management Team

Stuart Dawes

TITLE
MD, CEO & Executive Director
COMPENSATION
A$1M
TENURE
2.8 yrs

Tony Groth

TITLE
Chief Financial Officer
COMPENSATION
A$456K
AGE
64
TENURE
3.8 yrs

Peter McDonald

TITLE
Chief Investment Officer
COMPENSATION
A$1M
TENURE
1.8 yrs

Carrie Barrack

TITLE
Investor Relations Manager
TENURE
2.1 yrs

Phil Pearce

TITLE
Executive Director
AGE
50

Paul McKenna

TITLE
Executive Director
TENURE
0.1 yrs

Stuart Gibson

TITLE
Executive Director
AGE
54

Jeffrey Shen

TITLE
Executive Director
AGE
45

Wee Cho

TITLE
Executive Director
AGE
49

Rebekah Hourigan

TITLE
Company Secretary
Board of Directors Tenure

Average tenure and age of the Propertylink Group board of directors in years:

0.1
Average Tenure
49
Average Age
  • The average tenure for the Propertylink Group board of directors is less than 3 years, this suggests a new board.
Board of Directors

Peter Lancken

TITLE
Independent Chairman
COMPENSATION
A$155K

Stuart Dawes

TITLE
MD, CEO & Executive Director
COMPENSATION
A$1M
TENURE
2.8 yrs

Phil Pearce

TITLE
Executive Director
AGE
50
TENURE
0.1 yrs

Paul McKenna

TITLE
Executive Director
TENURE
0.1 yrs

Stuart Gibson

TITLE
Executive Director
AGE
54

Jeffrey Shen

TITLE
Executive Director
AGE
45

Wee Cho

TITLE
Executive Director
AGE
49

Sarah Kenny

TITLE
Non-Executive Director
COMPENSATION
A$80K
TENURE
1.8 yrs

Joe Gagnon

TITLE
Non-Executive Director
AGE
40
TENURE
0.1 yrs
Who owns this company?
Recent Insider Trading
  • Propertylink Group insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (A$) Value (A$)
28. Feb 19 Sell Stuart Dawes Individual 27. Feb 19 27. Feb 19 -354,309 A$1.16 A$-412,416
28. Feb 19 Sell Stephen Day Individual 27. Feb 19 27. Feb 19 -218,750 A$1.16 A$-254,625
01. Feb 19 Sell Vinva Investment Management Company 09. Nov 18 30. Jan 19 -818,055 A$1.16 A$-947,561
01. Feb 19 Buy Vinva Investment Management Company 09. Nov 18 30. Jan 19 177,487 A$1.18 A$208,883
09. Dec 18 Sell The Vanguard Group, Inc. Company 04. Oct 18 29. Nov 18 -362,130 A$1.18 A$-428,522
09. Dec 18 Buy The Vanguard Group, Inc. Company 09. Aug 18 05. Dec 18 6,302,610 A$1.18 A$7,437,084
05. Dec 18 Sell Anthony Ryan Individual 30. Nov 18 30. Nov 18 -499,719 A$1.20 A$-599,663
05. Dec 18 Sell Stuart Dawes Individual 03. Dec 18 03. Dec 18 -3,072,524 A$1.20 A$-3,687,030
05. Dec 18 Sell Ian Hutchinson Individual 03. Dec 18 06. Dec 18 -72,191 A$1.20 A$-86,629
05. Dec 18 Sell Christopher John Ryan Individual 03. Dec 18 03. Dec 18 -1,006,499 A$1.20 A$-1,207,799
03. Dec 18 Sell Stephen Day Individual 26. Nov 18 30. Nov 18 -5,424,238 A$1.20 A$-6,509,084
12. Nov 18 Sell Vinva Investment Management Company 08. Jul 18 08. Nov 18 -519,164 A$1.07 A$-557,016
12. Nov 18 Buy Vinva Investment Management Company 08. Jul 18 08. Nov 18 21,754,601 A$1.13 A$24,577,082
16. Oct 18 Buy Centuria Capital No. 5 Fund Company 12. Oct 18 15. Oct 18 34,146,800 A$1.15 A$39,011,755
11. Oct 18 Buy Centuria Capital No. 5 Fund Company 09. Oct 18 11. Oct 18 7,992,103 A$1.14 A$9,117,727
08. Oct 18 Buy Centuria Capital No. 5 Fund Company 28. Sep 18 08. Oct 18 6,878,961 A$1.14 A$7,823,172
21. Sep 18 Buy Centuria Property Funds No. 2 Limited Company 07. Jun 18 07. Jun 18 3,157,895 A$1.02 A$3,221,054
21. Sep 18 Buy Centuria Property Funds No. 2 Limited Company 13. Sep 18 20. Sep 18 12,664,307 A$1.07 A$13,405,371
13. Aug 18 Sell Centuria Property Funds No. 2 Limited Company 09. Aug 18 09. Aug 18 -46,543,981 A$1.01 A$-47,009,434
X
Management checks
We assess Propertylink Group's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Propertylink Group has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

You May Have Been Looking At Propertylink Group (ASX:PLG) All Wrong

real estate investment trust (REIT) based in Sydney, Australia. … REIT shares give you ownership of the company than owns and manages various income-producing property, whether it be commercial, industrial or residential. … Check out our latest analysis for Propertylink Group

Simply Wall St -

What To Know Before Buying Propertylink Group (ASX:PLG) For Its Dividend

Over the past 2 years, Propertylink Group (ASX:PLG) has returned an average of 5.00% per year to shareholders in terms of dividend yield. … View our latest analysis for Propertylink Group 5 checks you should use to assess a dividend stock When researching a dividend stock, I always follow the following screening criteria: Is it paying an annual yield above 75% of dividend payers? … Relative to peers, Propertylink Group generates a yield of 7.00%, which is high for REITs stocks.Next Steps: Whilst there are few things you may like about Propertylink Group from a dividend stock perspective, the truth is that overall it probably is not the best choice for a dividend investor.

Simply Wall St -

Who Are The Major Shareholders In Propertylink Group (ASX:PLG)?

View our latest analysis for Propertylink Group ASX:PLG Ownership_summary Apr 20th 18 Institutional Ownership In PLG's case, institutional ownership stands at 61.61%, significant enough to cause considerable price moves in the case of large institutional transactions, especially when there is a low level of public shares available on the market to trade. … However, a higher level of insider ownership has been linked to management executing on high-returning projects instead of expansion projects for the sake of apparent growth. … Thus, potential investors should look into these business relations and check how it can impact long-term shareholder returns.Next Steps: PLG's considerably high level of institutional ownership calls for further analysis into its margin of safety.

Simply Wall St -

Propertylink Group (ASX:PLG) Delivered A Better ROE Than The Industry, Here’s Why

See our latest analysis for Propertylink Group Peeling the layers of ROE – trisecting a company’s profitability Return on Equity (ROE) is a measure of Propertylink Group’s profit relative to its shareholders’ equity. … Propertylink Group’s cost of equity is 8.55%. … This is called the Dupont Formula: Dupont Formula ROE = profit margin × asset turnover × financial leverage ROE = (annual net profit ÷ sales) × (sales ÷ assets) × (assets ÷ shareholders’ equity) ROE = annual net profit ÷ shareholders’ equity ASX:PLG Last Perf Apr 3rd 18 Basically, profit margin measures how much of revenue trickles down into earnings which illustrates how efficient the business is with its cost management.

Simply Wall St -

Should You Be Tempted To Sell Propertylink Group (ASX:PLG) At Its Current PE Ratio?

Propertylink Group (ASX:PLG) is trading with a trailing P/E of 47.4x, which is higher than the industry average of 8.5x. … Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for PLG Price per share = A$0.99 Earnings per share = A$0.021 ∴ Price-Earnings Ratio = A$0.99 ÷ A$0.021 = 47.4x The P/E ratio isn’t a metric you view in isolation and only becomes useful when you compare it against other similar companies. … PLG’s P/E of 47.4x is higher than its industry peers (8.5x), which implies that each dollar of PLG’s earnings is being overvalued by investors.

Simply Wall St -

How Should You Analyze REIT Stock Propertylink Group (ASX:PLG)?

View our latest analysis for Propertylink Group Funds from Operations (FFO) is a higher quality measure of PLG's earnings compared to net income. … I also look at PLG's interest coverage ratio, which demonstrates how many times its earnings can cover its yearly interest expense. … Next Steps: In this article, I've taken a look at Funds from Operations using various metrics, but it is certainly not sufficient to derive an investment decision based on this value alone.

Simply Wall St -

Should Propertylink Group (ASX:PLG) Be Part Of Your Dividend Portfolio?

View our latest analysis for Propertylink Group How I analyze a dividend stock When assessing a stock as a potential addition to my dividend Portfolio, I look at these five areas: Is it paying an annual yield above 75% of dividend payers? … ASX:PLG Historical Dividend Yield Feb 6th 18 Does Propertylink Group pass our checks? … Propertylink Group has a negative payout ratio, meaning that the company is not yet profitable and is paying dividend by dipping into its retained earnings.

Simply Wall St -

Should You Invest In The Real Estate Sector And Propertylink Group (ASX:PLG)?

Propertylink Group (ASX:PLG), a A$587.71M small-cap, is a real estate company operating in an industry which remains the single largest sector globally, and has continued to play a key role in investor portfolios as an asset class. … Real estate analysts are forecasting for the entire industry, negative growth in the upcoming year , and an overall negative growth rate in the next couple of years. … Check out our latest analysis for Propertylink Group What’s the catalyst for Propertylink Group's sector growth?

Simply Wall St -

What is Behind Propertylink Group's (ASX:PLG) Superior ROE?

View our latest analysis for Propertylink Group Breaking down ROE — the mother of all ratios Return on Equity (ROE) weighs Propertylink Group’s profit against the level of its shareholders’ equity. … Since Propertylink Group’s return covers its cost in excess of 19.14%, its use of equity capital is efficient and likely to be sustainable. … This is called the Dupont Formula: Dupont Formula ROE = profit margin × asset turnover × financial leverage ROE = (annual net profit ÷ sales) × (sales ÷ assets) × (assets ÷ shareholders’ equity) ROE = annual net profit ÷ shareholders’ equity ASX:PLG Last Perf Dec 25th 17 The first component is profit margin, which measures how much of sales is retained after the company pays for all its expenses.

Simply Wall St -

Who Are The Major Shareholders In Propertylink Group (ASX:PLG)?

Although this doesn't necessarily lead to high short-term volatility, we should dig deeper into PLG's ownership structure to find how the remaining owner types can affect its investment profile. … An ownership of this size indicates a strong financial backing and has the potential to influence PLG's business strategy. … PLG's considerably high level of institutional ownership calls for further analysis into its margin of safety.

Simply Wall St -

Company Info

Description

Propertylink is an A-REIT, listed on the Australian Stock Exchange under the code “PLG”. Propertylink is an internally managed real estate group that owns and manages a diversified portfolio of logistics, business park and office properties and is a leading investment and asset management business with A$1.8 billion of assets under management. Propertylink’s integrated, in-house approach to active asset management is aimed at maximising the performance and value of assets under management for our global investors from North America, Europe, the Middle East, Asia and Australia.

Details
Name: Propertylink Group
PLG
Exchange: ASX
Founded: 1994
A$696,211,281
602,780,330
Website: http://www.propertylink.com.au
Address: Propertylink Group
20 Bond Street,
Level 29,
Sydney,
New South Wales, 2001,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX PLG Stapled Securities Australian Securities Exchange AU AUD 05. Aug 2016
DB A2APX2 Stapled Securities Deutsche Boerse AG DE EUR 05. Aug 2016
Number of employees
Current staff
Staff numbers
0
Propertylink Group employees.
Industry
Industrial REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/29 10:34
End of day share price update: 2019/03/21 00:00
Last estimates confirmation: 2019/03/08
Last earnings filing: 2019/02/27
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/06/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.