Loading...

We've got a brand new version of Simply Wall St! Try it out

US Masters Residential Property Fund

ASX:URF
Snowflake Description

Mediocre balance sheet and overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
URF
ASX
A$258M
Market Cap
  1. Home
  2. AU
  3. Real Estate
Company description

US Masters Residential Property Fund (Fund) was established in 2011 and is listed on the Australian Securities Exchange (URF.ASX). The last earnings update was 45 days ago. More info.


Add to Portfolio Compare Print
  • US Masters Residential Property Fund has significant price volatility in the past 3 months.
URF Share Price and Events
7 Day Returns
3.8%
ASX:URF
0.1%
AU REITs
1.3%
AU Market
1 Year Returns
-56.1%
ASX:URF
20.5%
AU REITs
9.9%
AU Market
URF Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
US Masters Residential Property Fund (URF) 3.8% -2.9% -17.1% -56.1% -66% -65.7%
AU REITs 0.1% 0.4% -2.8% 20.5% 23.4% 58.9%
AU Market 1.3% -0.6% -1% 9.9% 17.6% 17.8%
1 Year Return vs Industry and Market
  • URF underperformed the REITs industry which returned 20.5% over the past year.
  • URF underperformed the Market in Australia which returned 9.9% over the past year.
Price Volatility
URF
Industry
5yr Volatility vs Market

URF Value

 Is US Masters Residential Property Fund 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 US Masters Residential Property Fund 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 US Masters Residential Property Fund.

ASX:URF Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Dividend Discount Model
Dividend Per Share Company Filings (2019-06-30) in AUD A$ .020000
Payout Ratio Company Filings (2019-06-30) -3951.5%
Discount Rate (Cost of Equity) See below 7.1%
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:URF
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 0.47
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.47 (1 + (1- 30%) (279.01%))
0.606
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.31% + (0.8 * 5.96%)
7.08%

Discounted Cash Flow Calculation for ASX:URF using Dividend Discount Model Model

The calculations below outline how an intrinsic value for US Masters Residential Property Fund is arrived at by discounting future dividends to their present value. This approach is used for finance firms where free cash flow is difficult to estimate (e.g. Banks/ Insurance firms).

If the firm does not pay the majority of its earnings out as a dividend this method will often arrive at a value significantly lower than the share price.

See our documentation to learn about this calculation.

ASX:URF Gordon Growth Model
Calculation Result
Value per share = Expected dividends per share / (Discount Rate - Perpetual growth rate)
= A$0.02 / (7.08% - 2.31%)
A$0.13
ASX:URF Discount to Share Price
Calculation Result
Value per share (AUD) From above. A$0.13
Current discount Discount to share price of A$0.68
= -1 x (A$0.68 - A$0.13) / A$0.13
-418.6%

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

  • The current share price of US Masters Residential Property Fund 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 US Masters Residential Property Fund's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are US Masters Residential Property Fund's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ASX:URF PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in AUD A$-0.22
ASX:URF Share Price ** ASX (2019-10-11) in AUD A$0.68
Australia REITs Industry PE Ratio Median Figure of 38 Publicly-Listed REITs Companies 15.7x
Australia Market PE Ratio Median Figure of 557 Publicly-Listed Companies 17.93x

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

** Primary Listing of US Masters Residential Property Fund.

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

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

= 0.68 ÷ -0.22

-3.05x

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

  • US Masters Residential Property Fund is loss making, we can't compare its value to the AU REITs industry average.
  • US Masters Residential Property Fund is loss making, we can't compare the value of its earnings to the Australia market.
Price based on expected Growth
Does US Masters Residential Property Fund's expected growth come at a high price?
Raw Data
ASX:URF PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -3.05x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Australia REITs Industry PEG Ratio Median Figure of 31 Publicly-Listed REITs Companies 1.2x
Australia Market PEG Ratio Median Figure of 357 Publicly-Listed Companies 1.69x

*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 US Masters Residential Property Fund, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on US Masters Residential Property Fund's assets?
Raw Data
ASX:URF PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in AUD A$1.31
ASX:URF Share Price * ASX (2019-10-11) in AUD A$0.68
Australia REITs Industry PB Ratio Median Figure of 43 Publicly-Listed REITs Companies 1.11x
Australia Market PB Ratio Median Figure of 1,705 Publicly-Listed Companies 1.8x
ASX:URF PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 0.68 ÷ 1.31

0.52x

* Primary Listing of US Masters Residential Property Fund.

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

  • US Masters Residential Property Fund is good value based on assets compared to the AU REITs industry average.
X
Value checks
We assess US Masters Residential Property Fund'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. US Masters Residential Property Fund has a total score of 1/6, 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.

URF Future Performance

 How is US Masters Residential Property Fund expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

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 US Masters 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 Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

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
2.5%
Expected REITs industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is US Masters Residential Property Fund expected to grow at an attractive rate?
  • Unable to compare US Masters Residential Property Fund's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare US Masters Residential Property Fund's earnings growth to the Australia market average as no estimate data is available.
  • Unable to compare US Masters Residential Property Fund's revenue growth to the Australia market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
ASX:URF Future Growth Rates Data Sources
Data Point Source Value (per year)
Australia REITs Industry Earnings Growth Rate Market Cap Weighted Average 2.5%
Australia REITs Industry Revenue Growth Rate Market Cap Weighted Average -3.7%
Australia Market Earnings Growth Rate Market Cap Weighted Average 10.2%
Australia Market Revenue Growth Rate Market Cap Weighted Average 3.6%

*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:URF Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in AUD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ASX:URF Future Estimates Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
ASX:URF Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2019-06-30 46 -41 -83
2019-03-31 45 -37 -62
2018-12-31 44 -32 -41
2018-09-30 42 -28 -19
2018-06-30 39 -24 3
2018-03-31 38 -34 -5
2017-12-31 37 -43 -14
2017-09-30 37 -46 -37
2017-06-30 37 -49 -61
2017-03-31 36 -46 -53
2016-12-31 35 -43 -45
2016-09-30 35 -40 -35

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if US Masters Residential Property Fund is high growth as no earnings estimate data is available.
  • Unable to determine if US Masters Residential Property Fund is high growth as no revenue estimate data is available.
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:URF 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 0 Analyst Estimates (S&P Global) See Below

All data from US Masters Residential Property Fund Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:URF Future Estimates Data
Date (Data in AUD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
ASX:URF Past Financials Data
Date (Data in AUD Millions) EPS *
2019-06-30 -0.22
2019-03-31 -0.17
2018-12-31 -0.11
2018-09-30 -0.05
2018-06-30 0.01
2018-03-31 -0.01
2017-12-31 -0.04
2017-09-30 -0.11
2017-06-30 -0.18
2017-03-31 -0.17
2016-12-31 -0.15
2016-09-30 -0.12

*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 US Masters Residential Property Fund will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. US Masters Residential Property Fund's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Real Estate companies here
  2. US Masters Residential Property Fund's competitive advantages and company strategy can generally be found in its financial reports archived here.
  3. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess US Masters Residential Property Fund'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.
US Masters Residential Property Fund 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.

URF Past Performance

  How has US Masters Residential Property Fund 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 US Masters Residential Property Fund'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.
  • US Masters Residential Property Fund does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare US Masters Residential Property Fund's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare US Masters Residential Property Fund's 1-year growth to the AU REITs industry average as it is not currently profitable.
Earnings and Revenue History
US Masters Residential Property Fund'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 US Masters Residential Property Fund Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:URF Past Revenue, Cash Flow and Net Income Data
Date (Data in AUD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 45.72 -82.53 17.93
2019-03-31 44.87 -61.57 18.38
2018-12-31 44.02 -40.61 18.83
2018-09-30 41.57 -18.79 18.25
2018-06-30 39.13 3.04 17.68
2018-03-31 38.09 -5.24 18.27
2017-12-31 37.05 -13.53 18.87
2017-09-30 37.02 -37.43 19.18
2017-06-30 37.00 -61.34 19.49
2017-03-31 35.85 -53.23 19.10
2016-12-31 34.70 -45.13 18.70
2016-09-30 34.52 -34.63 17.65
2016-06-30 34.34 -24.13 16.60
2016-03-31 35.66 -12.03 15.88
2015-12-31 36.99 0.06 15.16
2015-09-30 32.13 5.10 14.73
2015-06-30 27.27 10.13 14.29
2015-03-31 20.65 3.12 13.34
2014-12-31 14.03 -3.89 12.38
2014-09-30 14.28 -1.51 11.43
2014-06-30 14.54 0.87 10.47
2014-03-31 15.18 4.53 9.27
2013-12-31 15.83 8.18 8.07
2013-09-30 13.23 7.04 8.46
2013-06-30 10.62 5.90 8.84
2013-03-31 8.11 2.20 7.24
2012-12-31 5.60 -1.50 5.63

*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.
  • It is difficult to establish if US Masters Residential Property Fund has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if US Masters Residential Property Fund has efficiently used its assets last year compared to the AU REITs industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if US Masters Residential Property Fund improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess US Masters Residential Property Fund'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.
US Masters Residential Property Fund has a total score of 0/6, 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.

URF Health

 How is US Masters Residential Property Fund'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 US Masters Residential Property Fund's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • US Masters Residential Property Fund is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • US Masters Residential Property Fund's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of US Masters Residential Property Fund'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 0.2x 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 US Masters Residential Property Fund Company Filings, last reported 3 months ago.

ASX:URF Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 671.36 713.94 117.02
2019-03-31 671.36 713.94 117.02
2018-12-31 733.41 670.49 106.99
2018-09-30 733.41 670.49 106.99
2018-06-30 711.00 615.64 120.96
2018-03-31 711.00 615.64 120.96
2017-12-31 688.93 588.89 182.80
2017-09-30 688.93 588.89 182.80
2017-06-30 499.11 710.49 179.46
2017-03-31 499.11 710.49 179.46
2016-12-31 583.84 547.00 123.21
2016-09-30 583.84 547.00 123.21
2016-06-30 500.97 528.90 108.01
2016-03-31 500.97 528.90 108.01
2015-12-31 535.14 475.66 133.56
2015-09-30 535.14 475.66 133.56
2015-06-30 499.86 323.18 110.14
2015-03-31 499.86 323.18 110.14
2014-12-31 461.72 283.75 191.28
2014-09-30 461.72 283.75 191.28
2014-06-30 404.10 76.49 49.40
2014-03-31 404.10 76.49 49.40
2013-12-31 349.24 46.92 42.77
2013-09-30 349.24 46.92 42.77
2013-06-30 341.60 6.56 84.04
2013-03-31 341.60 6.56 84.04
2012-12-31 238.29 5.82 122.88
  • US Masters Residential Property Fund's level of debt (106.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (19.5% vs 106.3% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • US Masters Residential Property Fund has sufficient cash runway for 2.9 years based on current free cash flow.
  • US Masters Residential Property Fund has sufficient cash runway for 2 years if free cash flow continues to reduce at historical rates of -8.7% each year.
X
Financial health checks
We assess US Masters Residential Property Fund'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. US Masters Residential Property Fund has a total score of 3/6, 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.

URF Dividends

 What is US Masters Residential Property Fund'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
2.94%
Current annual income from US Masters Residential Property Fund dividends.
If you bought A$2,000 of US Masters Residential Property Fund shares you are expected to receive A$59 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?
  • US Masters Residential Property Fund's pays a higher dividend yield than the bottom 25% of dividend payers in Australia (2.5%).
  • US Masters Residential Property Fund's dividend is below the markets top 25% of dividend payers in Australia (5.6%).
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:URF 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 0 Analyst Estimates (S&P Global) See Below
Australia REITs Industry Average Dividend Yield Market Cap Weighted Average of 40 Stocks 4.4%
Australia Market Average Dividend Yield Market Cap Weighted Average of 407 Stocks 4.2%
Australia Minimum Threshold Dividend Yield 10th Percentile 1.6%
Australia Bottom 25% Dividend Yield 25th Percentile 2.5%
Australia Top 25% Dividend Yield 75th Percentile 5.6%

Industry and Market average data is calculated daily.

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

ASX:URF Future Dividends Estimate Data
Date (Data in A$) Dividend per Share (annual) Avg. No. Analysts
ASX:URF Past Annualized Dividends Data
Date (Data in A$) Dividend per share (annual) Avg. Yield (%)
2019-06-12 0.020 2.584
2019-01-15 0.050 4.399
2018-06-25 0.100 6.860
2017-12-21 0.100 5.967
2017-06-26 0.100 5.574
2016-12-15 0.100 5.040
2016-06-23 0.100 4.936
2015-12-21 0.100 4.658
2015-06-24 0.100 4.623
2015-02-20 0.100 4.608
2014-06-23 0.100 5.078
2013-12-17 0.100 5.392
2013-08-28 0.100 5.447
2013-03-27 0.100 5.520
2013-02-28 0.100 5.518
2012-08-31 0.100 5.998

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

  • US Masters Residential Property Fund has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • US Masters Residential Property Fund has only been paying a dividend for 7 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of US Masters Residential Property Fund's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess US Masters Residential Property Fund'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 US Masters Residential Property Fund afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. US Masters Residential Property Fund has a total score of 1/6, see the detailed checks below.


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

URF Management

 What is the CEO of US Masters Residential Property Fund'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
Brian Disler
TENURE AS CEO 0.8 years
CEO Bio

Mr. Brian Disler has been Co-Chief Executive Officer at US Masters Residential Property Fund since 2019. Mr. Disler served as General Counsel and Head of Legal & Government Relations at Dixon Advisory USA for US Masters Residential Property Fund since August 09, 2017 and its Co-Chief Executive Officer of Dixon Advisory USA since August 1, 2019. As Head of Legal & Government Relations at Dixon Advisory USA, Mr. Disler is responsible for advising senior management on legal issues related to property management, leasing, construction, land use and landlord/tenant relationships. He also manages the day-to-day legal affairs and supervises outside counsel. He practiced at a large New York metropolitan law firm in their Real Estate Practice Group, where he represented large corporations in various real estate-related matters including complex litigation, tax appeals, land use and foreclosures. He is admitted to practice in both Federal Court and State Court in New York and New Jersey. Mr. Disler received a Bachelor of Arts from the University of Pennsylvania, where he graduated cum laude and a Juris Doctor from Brooklyn Law School, where he was a Richardson Scholar.

CEO Compensation
  • Insufficient data for Brian to compare compensation growth.
  • Insufficient data for Brian to establish whether their remuneration is reasonable compared to companies of similar size in Australia.
Management Team Tenure

Average tenure of the US Masters Residential Property Fund management team in years:

0.8
Average Tenure
  • The average tenure for the US Masters Residential Property Fund management team is less than 2 years, this suggests a new team.
Management Team

Alex MacLachlan

TITLE
Chairman of Walsh & Co. Investments Ltd and MD & Head of Strategy of Dixon Advisory USA

Brian Disler

TITLE
Co-Chief Executive Officer
TENURE
0.8 yrs

Kevin McAvey

TITLE
Co-Chief Executive Officer
TENURE
0.8 yrs

Hannah Chan

TITLE
Secretary of Walsh & Company Investments Limited

Caroline Purtell

TITLE
Company Secretary of Walsh & Company Investments Ltd.
TENURE
0.9 yrs
Board of Directors

Alex MacLachlan

TITLE
Chairman of Walsh & Co. Investments Ltd and MD & Head of Strategy of Dixon Advisory USA

Warwick Keneally

TITLE
Director of Walsh & Company Investments Ltd
TENURE
2.4 yrs

Mike Adams

TITLE
Director of Walsh & Company Investments Ltd
TENURE
1.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (A$) Value (A$)
X
Management checks
We assess US Masters Residential Property Fund'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. US Masters Residential Property Fund 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.

URF News

Simply Wall St News

Do Investors Have Good Reason To Be Wary Of US Masters Residential Property Fund's (ASX:URF) 2.6% Dividend Yield?

With a 2.6% yield and a seven-year payment history, investors probably think US Masters Residential Property Fund looks like a reliable dividend stock. … Given US Masters Residential Property Fund is paying a dividend but reported a loss over the past year, we need to check its balance sheet for signs of financial distress. … US Masters Residential Property Fund has been paying a dividend for the past seven years.

Simply Wall St -

Introducing US Masters Residential Property Fund (ASX:URF), The Stock That Slid 51% In The Last Three Years

We regret to report that long term US Masters Residential Property Fund (ASX:URF) shareholders have had that experience, with the share price dropping 51% in three years, versus a market return of about 31%. … In the last three years, US Masters Residential Property Fund saw its revenue grow by 6.3% per year, compound. … We note that for US Masters Residential Property Fund the TSR over the last 3 years was -42%, which is better than the share price return mentioned above.

Simply Wall St -

Who Are The Major Shareholders In US Masters Residential Property Fund (ASX:URF)?

Insider Ownership Another important group of shareholders are company insiders. … With this size of ownership, retail investors can collectively play a role in major company policies that affect shareholders returns, including executive remuneration and the appointment of directors. … Private Company Ownership Potential investors in URF should also look at another important group of investors: private companies, with a stake of 2.27%, who are primarily invested because of strategic and capital gain interests.

Simply Wall St -

Will US Masters Residential Property Fund (ASX:URF) Need To Raise More Money?

With a negative operating cash flow of -AU$42.85M, US Masters Residential Property Fund is chipping away at its AU$182.80M cash reserves in order to run its business. … ASX:URF Income Statement Mar 12th 18 When will US Masters Residential Property Fund need to raise more cash? … But according to my analysis, given the current level of cash reserves, US Masters Residential Property Fund can continue to spend at the current rate and should not need to raise further capital for a few years.

Simply Wall St -

Is US Masters Residential Property Fund (ASX:URF) A Real Estate Industry Laggard Or Leader?

US Masters Residential Property Fund (ASX:URF), a A$604.18M small-cap, is a real estate company operating in an industry which is the most prevalent industry in the global economy, and as an asset class, it has continued to play a crucial role in the portfolios of various investors. … Today, I will analyse the industry outlook, and also determine whether US Masters Residential Property Fund is a laggard or leader relative to its real estate sector peers. … Check out our latest analysis for US Masters Residential Property Fund What’s the catalyst for US Masters Residential Property Fund's sector growth?

Simply Wall St -

Interested In US Masters Residential Property Fund (ASX:URF)’s Upcoming $0.05 Dividend? You Have 2 Days Left

On the 05 February 2018, US Masters Residential Property Fund (ASX:URF) will be paying shareholders an upcoming dividend amount of A$0.05 per share. … Check out our latest analysis for US Masters Residential Property Fund How I analyze 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? … ASX:URF Historical Dividend Yield Dec 25th 17 How does US Masters Residential Property Fund fare?

Simply Wall St -

What You Must Know About US Masters Residential Property Fund's (ASX:URF) Major Investors

In this analysis, my focus will be on developing a perspective on US Masters Residential Property Fund’s (ASX:URF) latest ownership structure, a less discussed, but important factor. … Insider Ownership Insiders form another group of important ownership types as they manage the company's operations and decide the best use of capital. … With this size of ownership, retail investors can collectively play a role in major company policies that affect shareholders returns, including executive remuneration and the appointment of directors.

Simply Wall St -

When Will US Masters Residential Property Fund (ASX:URF) Need To Raise More Money?

Cash is crucial to run a business, and if a company burns through its reserves fast, it will need to come back to market for additional capital raising. … But according to my analysis, given the current level of cash reserves, URF can continue to spend at the current rate and should not need to raise further capital for a few years. … If you’ve been waiting to enter into the stock at the next capital raise, the results of my cash burn analysis suggest that URF will not be coming to market any time soon.

Simply Wall St -

URF Company Info

Description

US Masters Residential Property Fund (Fund) was established in 2011 and is listed on the Australian Securities Exchange (URF.ASX). The Fund was established to give investors exposure to US residential property and is the largest Australian-listed property trust with a primary strategy of investing in freestanding and multi-tenant US residential property in the New York metropolitan area. The Fund is focused on seeking to achieve long-term returns through a combination of income from rental yields along with potential long-term capital growth. Since 2011, the Fund’s portfolio has grown to 1,738 housing units across 653 freestanding properties and 17 apartment buildings, with an enterprise value of approximately $1.3 billion (as at 30 June 2018). The Fund conducts all its New York metropolitan area residential investment through its controlled entity US Masters Residential Property (USA) Fund, a Maryland Real Estate Investment Trust (US REIT). A dedicated team of highly-skilled professionals based in New York manages every aspect of the real estate investment process – from acquiring the properties and rehabilitating the assets, to leasing the homes and ongoing tenant management.

Details
Name: US Masters Residential Property Fund
URF
Exchange: ASX
Founded: 2011
A$258,212,894
379,724,845
Website: http://www.usmastersresidential.com.au
Address: US Masters Residential Property Fund
100 Pacific Highway,
Level 15,
North Sydney,
New South Wales, 2060,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX URF Ordinary Units Australian Securities Exchange AU AUD 24. Jul 2012
CHIA URF Ordinary Units Chi-X Australia AU AUD 24. Jul 2012
ASX URFPA UNITS(COMP) Australian Securities Exchange AU AUD 28. Dec 2017
Number of employees
Current staff
Staff numbers
0
US Masters Residential Property Fund employees.
Industry
Residential REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/10/13 10:37
End of day share price update: 2019/10/11 00:00
Last estimates confirmation: 2017/02/27
Last earnings filing: 2019/08/29
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


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.