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Invesque

TSX:IVQ
Snowflake Description

Fair value with imperfect balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
IVQ
TSX
CA$220M
Market Cap
  1. Home
  2. CA
  3. Real Estate
Company description

Invesque Inc. operates as a real estate investment company in Canada and the United States. The last earnings update was 23 days ago. More info.


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  • Invesque has significant price volatility in the past 3 months.
IVQ Share Price and Events
7 Day Returns
-15.6%
TSX:IVQ
-3.9%
CA Real Estate
-0.1%
CA Market
1 Year Returns
-
TSX:IVQ
-11.8%
CA Real Estate
-24.6%
CA Market
IVQ Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Invesque (IVQ) -15.6% -53.7% -52.9% - - -
CA Real Estate -3.9% -26% -22.4% -11.8% 1.5% 4.7%
CA Market -0.1% -21.2% -24.7% -24.6% -22.1% -16.5%
1 Year Return vs Industry and Market
  • No trading data on IVQ.
  • No trading data on IVQ.
Price Volatility
Industry
5yr Volatility vs Market

IVQ Value

 Is Invesque 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 Invesque 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 Invesque.

TSX:IVQ Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Dividend Discount Model
Dividend Per Share Company Filings (2019-12-31) in USD $ 0.74
Payout Ratio Company Filings (2019-12-31) 12795.6%
Discount Rate (Cost of Equity) See below 8.6%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.4%

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 TSX:IVQ
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.4%
Equity Risk Premium S&P Global 5.4%
Real Estate Unlevered Beta Simply Wall St/ S&P Global 0.98
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.98 (1 + (1- 26.5%) (700.66%))
1.314
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.31
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.44% + (1.314 * 5.44%)
8.59%

Discounted Cash Flow Calculation for TSX:IVQ using Dividend Discount Model Model

The calculations below outline how an intrinsic value for Invesque 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.

TSX:IVQ Gordon Growth Model
Calculation Result
Value per share = Expected dividends per share / (Discount Rate - Perpetual growth rate)
= $0.74 / (8.59% - 1.44%)
$11.07
TSX:IVQ Discount to Share Price
Calculation Result
Exchange Rate USD/CAD
(Reporting currency to currency of TSX:IVQ)
1.415
Value per Share
(CAD)
= Value per Share in USD x Exchange Rate (USD/CAD)
= $7.82 x 1.415
CA$11.07
Value per share (CAD) From above. CA$11.07
Current discount Discount to share price of CA$4.00
= -1 x (CA$4.00 - CA$11.07) / CA$11.07
63.9%

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

Current Discount
Amount off the current price Invesque is available for.
Intrinsic value
>50%
Share price is CA$4 vs Future cash flow value of CA$11.07
Current Discount Checks
For Invesque to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Invesque's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Invesque's share price is below the future cash flow value, and at a substantial discount (> 40%).
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 Invesque's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Invesque's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:IVQ PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $-0.10
TSX:IVQ Share Price ** TSX (2020-04-02) in CAD CA$4
TSX:IVQ Share Price converted to USD reporting currency Exchange rate (CAD/ USD) 0.707 $2.83
Canada Real Estate Industry PE Ratio Median Figure of 20 Publicly-Listed Real Estate Companies 10.47x
Canada Market PE Ratio Median Figure of 497 Publicly-Listed Companies 10.36x

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

** Primary Listing of Invesque.

TSX:IVQ PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:IVQ Share Price ÷ EPS (both in USD)

= 2.83 ÷ -0.10

-28.48x

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

  • Invesque is loss making, we can't compare its value to the CA Real Estate industry average.
  • Invesque is loss making, we can't compare the value of its earnings to the Canada market.
Price based on expected Growth
Does Invesque's expected growth come at a high price?
Raw Data
TSX:IVQ PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -28.48x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
Not available
North America Real Estate Industry PEG Ratio Median Figure of 14 Publicly-Listed Real Estate Companies 0.58x
Canada Market PEG Ratio Median Figure of 233 Publicly-Listed Companies 0.67x

*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 Invesque, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Invesque's assets?
Raw Data
TSX:IVQ PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $7.23
TSX:IVQ Share Price * TSX (2020-04-02) in CAD CA$4
TSX:IVQ Share Price converted to USD reporting currency Exchange rate (CAD/ USD) 0.707 $2.83
Canada Real Estate Industry PB Ratio Median Figure of 37 Publicly-Listed Real Estate Companies 0.62x
Canada Market PB Ratio Median Figure of 2,356 Publicly-Listed Companies 0.98x
TSX:IVQ PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:IVQ Share Price ÷ Book Value per Share (both in USD)

= 2.83 ÷ 7.23

0.39x

* Primary Listing of Invesque.

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

  • Invesque is good value based on assets compared to the CA Real Estate industry average.
X
Value checks
We assess Invesque'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 Real Estate 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 Real Estate industry average (and greater than 0)? (1 check)
  5. Invesque 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.

IVQ Future Performance

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

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
10.2%
Expected annual growth in revenue.
Earnings growth vs Low Risk Savings
Is Invesque expected to grow at an attractive rate?
  • Unable to compare Invesque's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Invesque's earnings growth to the Canada market average as no estimate data is available.
  • Invesque's revenue growth is expected to exceed the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSX:IVQ Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:IVQ Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 10.2%
North America Real Estate Industry Earnings Growth Rate Market Cap Weighted Average 21.8%
Canada Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 2.9%
Canada Market Earnings Growth Rate Market Cap Weighted Average 7%
Canada Market Revenue Growth Rate Market Cap Weighted Average 3.5%

*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
TSX:IVQ 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 USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:IVQ Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 185 22 1
2020-12-31 184 22 1
2020-04-03
TSX:IVQ Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 152 16 -5
2019-09-30 127 12 -46
2019-06-30 121 17 -35
2019-03-31 124 25 -7
2018-12-31 119 25 -12
2018-09-30 106 33 24
2018-06-30 89 32 19
2018-03-31 73 32 14
2017-12-31 64 41 16
2017-09-30 61 29 19
2017-06-30 55 25 17
2017-03-31 48 20 11

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Invesque is high growth as no earnings estimate data is available.
  • Invesque's revenue is expected to grow by 10.2% yearly, however this is not considered high growth (20% yearly).
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
TSX:IVQ 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 Invesque Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:IVQ Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31
2020-12-31
2020-04-03
TSX:IVQ Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 -0.10
2019-09-30 -0.85
2019-06-30 -0.65
2019-03-31 -0.14
2018-12-31 -0.24
2018-09-30 0.52
2018-06-30 0.49
2018-03-31 0.39
2017-12-31 0.50
2017-09-30 0.61
2017-06-30 0.56
2017-03-31 0.47

*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 Invesque will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Invesque'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 North America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada 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.
Invesque has a total score of 1/6, 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.

IVQ Past Performance

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

TSX:IVQ Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 152.40 -5.36 18.73
2019-09-30 127.05 -45.82 16.03
2019-06-30 121.13 -34.82 17.47
2019-03-31 124.27 -7.39 15.94
2018-12-31 118.56 -12.28 15.45
2018-09-30 105.54 23.50 13.60
2018-06-30 88.88 19.42 10.06
2018-03-31 73.41 13.60 8.91
2017-12-31 64.00 16.26 8.57
2017-09-30 60.98 19.18 8.97
2017-06-30 55.41 16.74 7.76
2017-03-31 47.95 11.27 7.07
2016-12-31 40.87 4.88 5.18
2016-03-31 27.31 -24.37 5.56
2015-12-31 20.43 -23.02 5.06

*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 Invesque has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • Invesque used its assets less efficiently than the CA Real Estate industry average last year based on Return on Assets.
  • It is difficult to establish if Invesque 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 Invesque'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 Real Estate 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.
Invesque 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.

IVQ Health

 How is Invesque'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 Invesque's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Invesque's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Invesque's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Invesque'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 0x 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 Invesque Company Filings, last reported 3 months ago.

TSX:IVQ Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 483.64 1,085.10 11.84
2019-09-30 484.39 1,011.84 12.70
2019-06-30 478.25 695.35 20.55
2019-03-31 497.49 779.76 25.68
2018-12-31 496.42 731.87 26.98
2018-09-30 558.00 751.31 11.75
2018-06-30 538.73 728.36 8.01
2018-03-31 506.36 623.80 14.89
2017-12-31 319.38 428.48 12.96
2017-09-30 296.27 400.57 3.91
2017-06-30 296.36 402.33 2.92
2017-03-31 296.97 364.78 7.13
2016-12-31 297.24 356.22 7.65
2016-03-31 13.57 260.41 6.43
2015-12-31 14.98 256.08 7.19
  • Invesque's level of debt (224.4%) compared to net worth is high (greater than 40%).
  • Unable to establish if Invesque's debt level has increased without past 5-year debt data.
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.

  • Whilst loss making Invesque has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Invesque has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -0.3% per year.
X
Financial health checks
We assess Invesque'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. Invesque has a total score of 2/6, 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.

IVQ Dividends

 What is Invesque'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
26.06%
Current annual income from Invesque dividends. Estimated to be 26.18% next year.
If you bought CA$2,000 of Invesque shares you are expected to receive CA$521 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?
  • Invesque's pays a higher dividend yield than the bottom 25% of dividend payers in Canada (2.7%).
  • Invesque's dividend is above the markets top 25% of dividend payers in Canada (8.68%).
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
TSX:IVQ 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
Canada Real Estate Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 1.8%
Canada Market Average Dividend Yield Market Cap Weighted Average of 326 Stocks 4.7%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.4%
Canada Bottom 25% Dividend Yield 25th Percentile 2.7%
Canada Top 25% Dividend Yield 75th Percentile 8.7%

Industry and Market average data is calculated daily.

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

TSX:IVQ Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.74 3.00
2020-12-31 0.74 3.00
2020-04-03
TSX:IVQ Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-03-09 0.737 24.002
2020-01-08 0.737 11.203
2019-12-11 0.737 11.367
2019-11-05 0.737 10.924
2019-10-10 0.737 10.510
2019-09-20 0.737 11.138

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

  • It is too early to tell whether Invesque has stable dividend payments.
  • Invesque only just started paying a dividend, it is too early to tell if payments are increasing.
Current Payout to shareholders
What portion of Invesque'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 Invesque's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.4%) - 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 Invesque afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Invesque has a total score of 2/6, see the detailed checks below.


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

IVQ Management

 What is the CEO of Invesque'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
Scott White
COMPENSATION $2,026,029
AGE 45
TENURE AS CEO 3.3 years
CEO Bio

Mr. Scott Eric White, J.D., CPA, has been the Chief Executive Officer of Invesque Inc. since January 09, 2017 and serves as its President. Mr. White is Chairman of the Board at Invesque Inc. since March 11, 2019. Mr. White served as Chief Operating Officer at Mainstreet Health Investments Inc., until January 09, 2017. Mr. White was responsible for capital development, operations and strategic initiatives. Prior to joining Mainstreet in April 2013, Mr. White served as a Senior Vice President in the Private Funds Group of Brookfield Asset Management Inc. from August 2009 to April 2013, where he was responsible for raising capital for various alternative asset vehicles across real estate, private equity and infrastructure. He was Investment Banking Professional at Citigroup Inc. He served as Head of Deal Execution and Deal Manager at Citigroup Alternative Investments LLC. Mr. White served as an Executive Vice President of Investments at Mainstreet Property Group, LLC, Mainstreet Health Investments Inc., HealthLease Properties Real Estate Investment Trust and Mainstreet Property Group LLC, Investment Arm. He served as Executive Vice President of Finance at Mainstreet Property Group, LLC since April 23, 2013. His career experience also includes a tenure as Director and Head of Deal Management at Citigroup’s Alternatives Distribution Group. At Citigroup, he advised clients on alternative capital raising activities in private equity, real estate, hedge and infrastructure funds; Mr. White was responsible for executing 25 capital raising assignments at over $30 billion. Before focusing his career on alternative assets, he was part of the Healthcare Group at Citi’s Investment Bank, working with clients in the healthcare sector on M&A and capital raising assignments. Prior to Citi, he began his career in public accounting as an Auditor for PricewaterhouseCoopers. Mr. White has more than 15 years of Wall Street Experience. He is a C.P.A., is admitted to the bars of New York and New Jersey and holds securities industry FINRA licenses Series 7, 24 and 63. Mr. White earned Bachelor’s degrees with highest honors in Political Science and Journalism from Rutgers University. He received his M.B.A. from Rutgers Graduate School of Management and his J.D. from the University Of Pennsylvania Law School.

CEO Compensation
  • Scott's compensation has increased whilst company is loss making.
  • Scott's remuneration is higher than average for companies of similar size in Canada.
Management Team Tenure

Average tenure and age of the Invesque management team in years:

2.5
Average Tenure
36.5
Average Age
  • The tenure for the Invesque management team is about average.
Management Team

Scott White

TITLE
Chairman
COMPENSATION
$2M
AGE
45
TENURE
3.3 yrs

Scott Higgs

TITLE
Chief Financial Officer
COMPENSATION
$900K
AGE
36
TENURE
4.3 yrs

Adlai Chester

TITLE
Chief Investment Officer & Director
COMPENSATION
$1M
AGE
37
TENURE
2.5 yrs

John Petelik

TITLE
Vice President of Operations

Jim Rees

TITLE
Director of Accounting

Vineet Bedi

TITLE
Chief Strategy Officer & IR
AGE
35

Azin Lotfi

TITLE
General Counsel & Secretary
TENURE
2.3 yrs

Christine Johnson

TITLE
Director of Marketing

Dennis Dechow

TITLE
Vice President of Asset Services

Bryan Hickman

TITLE
Senior Vice President of Investments
TENURE
1.9 yrs
Board of Directors Tenure

Average tenure and age of the Invesque board of directors in years:

1.1
Average Tenure
46
Average Age
  • The average tenure for the Invesque board of directors is less than 3 years, this suggests a new board.
Board of Directors

Scott White

TITLE
Chairman
COMPENSATION
$2M
AGE
45
TENURE
1.1 yrs

Adlai Chester

TITLE
Chief Investment Officer & Director
COMPENSATION
$1M
AGE
37
TENURE
0.9 yrs

Shaun Hawkins

TITLE
Independent Director
COMPENSATION
$84K
AGE
46
TENURE
4 yrs

Donna Brandin

TITLE
Independent Director
AGE
62
TENURE
0.8 yrs

Chuck Herman

TITLE
Lead Director
COMPENSATION
$98K
AGE
53
TENURE
1.1 yrs

Brad Benbow

TITLE
Director
COMPENSATION
$93K
AGE
58
TENURE
4 yrs

Randy Maultsby

TITLE
Independent Director
AGE
45
TENURE
2.2 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 (CA$) Value (CA$)
20. Mar 20 Buy Magnetar Capital, LLC Company 15. Mar 20 15. Mar 20 126,045 CA$6.05 CA$763,113
20. Feb 20 Buy Magnetar Capital, LLC Company 15. Feb 20 15. Feb 20 86,510 CA$8.31 CA$719,012
16. Jan 20 Buy Magnetar Capital, LLC Company 15. Jan 20 15. Jan 20 83,294 CA$8.44 CA$702,663
20. Dec 19 Buy Magnetar Capital, LLC Company 15. Dec 19 15. Dec 19 89,346 CA$7.90 CA$705,527
20. Nov 19 Buy Magnetar Capital, LLC Company 15. Nov 19 15. Nov 19 78,345 CA$6.77 CA$530,764
18. Oct 19 Buy Magnetar Capital, LLC Company 15. Oct 19 15. Oct 19 83,656 CA$8.32 CA$695,618
24. Sep 19 Buy Magnetar Capital, LLC Company 15. Sep 19 15. Sep 19 87,828 CA$7.90 CA$693,991
30. Aug 19 Buy Scott Higgs Individual 29. Aug 19 29. Aug 19 2,500 CA$8.38 CA$20,944
22. Aug 19 Buy Scott White Individual 19. Aug 19 19. Aug 19 10,000 CA$8.78 CA$87,832
19. Aug 19 Buy Magnetar Capital, LLC Company 15. Aug 19 15. Aug 19 79,198 CA$9.05 CA$716,606
19. Jul 19 Buy Magnetar Capital, LLC Company 15. Jul 19 15. Jul 19 74,202 CA$9.39 CA$696,978
20. Jun 19 Buy Magnetar Capital, LLC Company 15. Jun 19 15. Jun 19 76,356 CA$9.30 CA$710,270
17. May 19 Buy Magnetar Capital, LLC Company 15. May 19 15. May 19 51,203 CA$8.84 CA$452,530
17. May 19 Buy Magnetar Capital, LLC Company 15. May 19 15. May 19 28,917 CA$8.84 CA$255,567
19. Apr 19 Buy Magnetar Capital, LLC Company 15. Apr 19 15. Apr 19 75,910 CA$6.89 CA$523,324
X
Management checks
We assess Invesque'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. Invesque 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.

IVQ News

Simply Wall St News

IVQ Company Info

Description

Invesque Inc. operates as a real estate investment company in Canada and the United States. The company invests in health care and senior living properties, such as post-acute transitional care, long-term care, memory care, assisted living, independent living, and medical office properties. As of December 24, 2019, it owned a portfolio of 124 buildings with approximately 11,000 beds and approximately 578,000 rentable square feet of medical office space. The company was formerly known as Mainstreet Health Investments Inc. and changed its name to Invesque Inc. in January 2018. Invesque Inc. is headquartered in Toronto, Canada.

Details
Name: Invesque Inc.
IVQ
Exchange: TSX
Founded:
CA$219,572,948
54,893,237
Website: http://invesque.com
Address: Invesque Inc.
333 Bay Street,
Suite 3400,
Toronto,
Ontario, M5H 2S7,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX IVQ Common Shares The Toronto Stock Exchange CA CAD 02. Jun 2016
OTCPK MHIV.F Common Shares Pink Sheets LLC US USD 02. Jun 2016
Number of employees
Current staff
Staff numbers
1,651
Invesque employees.
Industry
Real Estate Operating Companies
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/03 04:01
End of day share price update: 2020/04/02 00:00
Last estimates confirmation: 2020/03/24
Last earnings filing: 2020/03/11
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


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.