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Standard Life Investments Property Income Trust

BATS-CHIXE:SLIL
Snowflake Description

Good value with adequate balance sheet and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SLIL
BATS-CHIXE
£310M
Market Cap
  1. Home
  2. GB
  3. Real Estate
Company description

Standard Life Investments is a leading asset manager with an expanding global reach. The last earnings update was 204 days ago. More info.


Add to Portfolio Compare Print
  • Standard Life Investments Property Income Trust has significant price volatility in the past 3 months.
SLIL Share Price and Events
7 Day Returns
-5.5%
BATS-CHIXE:SLIL
7.3%
GB REITs
5.3%
GB Market
1 Year Returns
-15.5%
BATS-CHIXE:SLIL
-16.7%
GB REITs
-21.5%
GB Market
SLIL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Standard Life Investments Property Income Trust (SLIL) -5.5% -10.2% -16.8% -15.5% -15.9% -14%
GB REITs 7.3% -12.4% -23.2% -16.7% -16.8% -21.5%
GB Market 5.3% -6.5% -25.2% -21.5% -22.4% -21.9%
1 Year Return vs Industry and Market
  • SLIL outperformed the REITs industry which returned -16.7% over the past year.
  • SLIL outperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -21.5% over the past year.
Price Volatility
SLIL
Industry
5yr Volatility vs Market

SLIL Value

 Is Standard Life Investments Property Income Trust 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 Standard Life Investments Property Income Trust 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 Standard Life Investments Property Income Trust.

BATS-CHIXE:SLIL Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 5.4%
Perpetual Growth Rate 10-Year GB Government Bond Rate 0.5%

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 BATS-CHIXE:SLIL
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 6.1%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.52
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.521 (1 + (1- 19%) (42.3%))
0.799
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)
= 0.53% + (0.8 * 6.07%)
5.39%

Discounted Cash Flow Calculation for BATS-CHIXE:SLIL using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Standard Life Investments Property Income Trust 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.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

BATS-CHIXE:SLIL DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (GBP, Millions) Source Present Value
Discounted (@ 5.39%)
2020 24.71 Est @ 4.93% 23.45
2021 25.60 Est @ 3.61% 23.05
2022 26.29 Est @ 2.69% 22.46
2023 26.83 Est @ 2.04% 21.75
2024 27.25 Est @ 1.59% 20.97
2025 27.60 Est @ 1.27% 20.15
2026 27.89 Est @ 1.05% 19.32
2027 28.14 Est @ 0.89% 18.49
2028 28.36 Est @ 0.78% 17.69
2029 28.56 Est @ 0.71% 16.90
Present value of next 10 years cash flows £204.00
BATS-CHIXE:SLIL DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= £28.56 × (1 + 0.53%) ÷ (5.39% – 0.53%)
£591.25
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= £591.25 ÷ (1 + 5.39%)10
£349.90
BATS-CHIXE:SLIL Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= £204.00 + £349.90
£553.90
Equity Value per Share
(GBP)
= Total value / Shares Outstanding
= £553.90 / 406.87
£1.37
BATS-CHIXE:SLIL Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in BATS-CHIXE:SLIL represents 1.00328x of LSE:SLI
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.00328x
Value per Share
(Listing Adjusted, GBP)
= Value per Share (GBP) x Listing Adjustment Factor
= £ 1.37 x 1.00328
£1.37
Value per share (GBP) From above. £1.37
Current discount Discount to share price of £0.77
= -1 x (£0.77 - £1.37) / £1.37
44.1%

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

Current Discount
Amount off the current price Standard Life Investments Property Income Trust is available for.
Intrinsic value
44%
Share price is £0.77 vs Future cash flow value of £1.37
Current Discount Checks
For Standard Life Investments Property Income Trust to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Standard Life Investments Property Income Trust's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Standard Life Investments Property Income Trust'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 Standard Life Investments Property Income Trust's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Standard Life Investments Property Income Trust's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BATS-CHIXE:SLIL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in GBP £0.06
LSE:SLI Share Price ** LSE (2020-04-09) in GBP £0.76
United Kingdom of Great Britain and Northern Ireland REITs Industry PE Ratio Median Figure of 38 Publicly-Listed REITs Companies 13.28x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 747 Publicly-Listed Companies 13.27x

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

** Primary Listing of Standard Life Investments Property Income Trust.

BATS-CHIXE:SLIL PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= LSE:SLI Share Price ÷ EPS (both in GBP)

= 0.76 ÷ 0.06

12.38x

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

  • Standard Life Investments Property Income Trust is good value based on earnings compared to the GB REITs industry average.
  • Standard Life Investments Property Income Trust is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Standard Life Investments Property Income Trust's expected growth come at a high price?
Raw Data
BATS-CHIXE:SLIL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.38x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
United Kingdom of Great Britain and Northern Ireland REITs Industry PEG Ratio Median Figure of 22 Publicly-Listed REITs Companies 0.71x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 513 Publicly-Listed Companies 1.03x

*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 Standard Life Investments Property Income Trust, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Standard Life Investments Property Income Trust's assets?
Raw Data
BATS-CHIXE:SLIL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in GBP £0.91
LSE:SLI Share Price * LSE (2020-04-09) in GBP £0.76
United Kingdom of Great Britain and Northern Ireland REITs Industry PB Ratio Median Figure of 54 Publicly-Listed REITs Companies 0.8x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,322 Publicly-Listed Companies 1.13x
BATS-CHIXE:SLIL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= LSE:SLI Share Price ÷ Book Value per Share (both in GBP)

= 0.76 ÷ 0.91

0.84x

* Primary Listing of Standard Life Investments Property Income Trust.

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

  • Standard Life Investments Property Income Trust is overvalued based on assets compared to the GB REITs industry average.
X
Value checks
We assess Standard Life Investments Property Income Trust'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. Standard Life Investments Property Income Trust has a total score of 4/6, 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.

SLIL Future Performance

 How is Standard Life Investments Property Income Trust 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 Standard Life Investments Property Income Trust 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
26.6%
Expected REITs industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Standard Life Investments Property Income Trust expected to grow at an attractive rate?
  • Unable to compare Standard Life Investments Property Income Trust's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Standard Life Investments Property Income Trust's earnings growth to the United Kingdom of Great Britain and Northern Ireland market average as no estimate data is available.
  • Unable to compare Standard Life Investments Property Income Trust's revenue growth to the United Kingdom of Great Britain and Northern Ireland market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
BATS-CHIXE:SLIL Future Growth Rates Data Sources
Data Point Source Value (per year)
United Kingdom of Great Britain and Northern Ireland REITs Industry Earnings Growth Rate Market Cap Weighted Average 26.6%
United Kingdom of Great Britain and Northern Ireland REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.5%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 15.4%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 2.5%

*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
BATS-CHIXE:SLIL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (9 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BATS-CHIXE:SLIL Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2019-06-30 33 24 25
2019-03-31 32 30 28
2018-12-31 31 37 31
2018-09-30 32 29 36
2018-06-30 31 20 41
2018-03-31 30 13 42
2017-12-31 30 6 42
2017-09-30 30 13 33
2017-06-30 31 21 23
2017-03-31 31 21 19
2016-12-31 31 21 14
2016-09-30 30 23 22

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Standard Life Investments Property Income Trust is high growth as no earnings estimate data is available.
  • Unable to determine if Standard Life Investments Property Income Trust 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
BATS-CHIXE:SLIL Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (9 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Standard Life Investments Property Income Trust Company Filings, last reported 9 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BATS-CHIXE:SLIL Past Financials Data
Date (Data in GBP Millions) EPS *
2019-06-30 0.06
2019-03-31 0.07
2018-12-31 0.08
2018-09-30 0.09
2018-06-30 0.10
2018-03-31 0.11
2017-12-31 0.11
2017-09-30 0.09
2017-06-30 0.06
2017-03-31 0.05
2016-12-31 0.04
2016-09-30 0.06

*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 Standard Life Investments Property Income Trust will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether Standard Life Investments Property Income Trust is trading at Standard Life Investments Property Income Trust'san attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  2. Standard Life Investments Property Income Trust'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
  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 Standard Life Investments Property Income Trust'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 United Kingdom of Great Britain and Northern Ireland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland 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.
Standard Life Investments Property Income Trust 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.

SLIL Past Performance

  How has Standard Life Investments Property Income Trust performed over the past 5 years?

  • Standard Life Investments Property Income Trust's last earnings update was 204 days ago.
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 Standard Life Investments Property Income Trust'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.
  • Standard Life Investments Property Income Trust's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Standard Life Investments Property Income Trust's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Standard Life Investments Property Income Trust's 1-year earnings growth is negative, it can't be compared to the GB REITs industry average.
Earnings and Revenue History
Standard Life Investments Property Income Trust'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 Standard Life Investments Property Income Trust Company Filings, last reported 9 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BATS-CHIXE:SLIL Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 33.42 25.01 0.88
2019-03-31 32.36 27.98 0.79
2018-12-31 31.30 30.95 0.71
2018-09-30 31.56 35.87 0.70
2018-06-30 30.92 40.79 0.69
2018-03-31 30.43 41.63 0.70
2017-12-31 29.94 42.47 0.70
2017-09-30 30.37 32.89 0.70
2017-06-30 30.79 23.32 0.70
2017-03-31 31.14 18.76 0.69
2016-12-31 31.48 14.20 0.68
2016-09-30 30.36 21.67 0.68
2016-06-30 29.24 29.14 0.68
2016-03-31 26.20 30.54 0.63
2015-12-31 23.17 31.94 0.58
2015-09-30 20.49 30.94 0.59
2015-06-30 17.82 29.94 0.60
2015-03-31 16.06 29.26 0.57
2014-12-31 14.31 28.58 0.55
2014-09-30 13.52 25.79 0.48
2014-06-30 12.73 22.99 0.41
2014-03-31 13.28 17.41 0.41
2013-12-31 13.83 11.82 0.41
2013-09-30 13.69 5.16 0.39
2013-06-30 13.55 -1.51 0.38

*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.
  • Standard Life Investments Property Income Trust has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Standard Life Investments Property Income Trust used its assets more efficiently than the GB REITs industry average last year based on Return on Assets.
  • Standard Life Investments Property Income Trust's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Standard Life Investments Property Income Trust'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.
Standard Life Investments Property Income Trust 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.

SLIL Health

 How is Standard Life Investments Property Income Trust'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 Standard Life Investments Property Income Trust's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Standard Life Investments Property Income Trust is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Standard Life Investments Property Income Trust's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Standard Life Investments Property Income Trust'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 Standard Life Investments Property Income Trust Company Filings, last reported 9 months ago.

BATS-CHIXE:SLIL Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 369.76 129.60 11.70
2019-03-31 369.76 129.60 11.70
2018-12-31 369.39 130.05 8.26
2018-09-30 369.39 130.05 8.26
2018-06-30 364.15 110.02 23.20
2018-03-31 364.15 110.02 23.20
2017-12-31 346.00 111.35 14.33
2017-09-30 346.00 111.35 14.33
2017-06-30 326.35 111.67 26.69
2017-03-31 326.35 111.67 26.69
2016-12-31 308.44 127.56 13.05
2016-09-30 308.44 127.56 13.05
2016-06-30 311.55 145.82 18.26
2016-03-31 311.55 145.82 18.26
2015-12-31 312.78 141.13 12.40
2015-09-30 312.78 141.13 12.40
2015-06-30 226.40 85.95 27.33
2015-03-31 226.40 85.95 27.33
2014-12-31 184.37 86.66 5.40
2014-09-30 184.37 86.66 5.40
2014-06-30 113.43 85.01 23.21
2014-03-31 113.43 85.01 23.21
2013-12-31 101.59 85.10 12.30
2013-09-30 101.59 85.10 12.30
2013-06-30 88.23 86.92 8.60
  • Standard Life Investments Property Income Trust's level of debt (35%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (74.5% vs 35% today).
  • Debt is not well covered by operating cash flow (18.2%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 6.7x coverage).
X
Financial health checks
We assess Standard Life Investments Property Income Trust'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. Standard Life Investments Property Income Trust has a total score of 4/6, 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.

SLIL Dividends

 What is Standard Life Investments Property Income Trust'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
6.24%
Current annual income from Standard Life Investments Property Income Trust dividends.
If you bought £2,000 of Standard Life Investments Property Income Trust shares you are expected to receive £125 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?
  • Standard Life Investments Property Income Trust's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.49%).
  • Standard Life Investments Property Income Trust's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (6.84%).
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
BATS-CHIXE:SLIL 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
United Kingdom of Great Britain and Northern Ireland REITs Industry Average Dividend Yield Market Cap Weighted Average of 48 Stocks 5%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 575 Stocks 5.5%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1.3%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2.5%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 6.8%

Industry and Market average data is calculated daily.

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

BATS-CHIXE:SLIL Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2020-03-05 0.048 6.394
2019-11-06 0.048 5.188
2019-08-08 0.048 5.403
2019-05-08 0.048 5.135
2019-03-13 0.048 5.263
2018-11-07 0.048 5.486
2018-08-07 0.048 5.166
2018-05-09 0.048 5.009
2018-03-08 0.048 5.135
2017-08-31 0.048 5.170
2017-05-09 0.048 5.286
2017-03-08 0.048 5.369
2016-11-08 0.048 5.530
2016-08-09 0.048 5.796
2016-02-10 0.048 5.710
2015-12-16 0.046 5.465
2015-11-03 0.046 5.526
2015-07-27 0.046 5.417
2015-04-29 0.046 5.440
2015-01-27 0.046 5.486
2014-07-04 0.046 6.004
2014-04-23 0.046 6.169
2014-01-28 0.045 6.181
2013-11-04 0.045 6.438
2013-07-30 0.045 6.793
2013-04-22 0.045 7.692
2013-01-29 0.045 7.635
2012-08-31 0.045 7.482
2012-03-26 0.045 7.211
2012-03-23 0.045 7.399
2011-08-26 0.044 7.706
2011-04-14 0.044 6.740
2010-08-25 0.044 6.881
2010-03-19 0.044 7.099
2009-08-26 0.040 6.880

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Standard Life Investments Property Income Trust's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.2x coverage).
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 Standard Life Investments Property Income Trust's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - 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 Standard Life Investments Property Income Trust afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Standard Life Investments Property Income Trust 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.

SLIL Management

 What is the CEO of Standard Life Investments Property Income Trust'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
Norman Skeoch
AGE 62
TENURE AS CEO 4.7 years
CEO Bio

Mr. Norman Keith Skeoch has been the Chief Executive at Standard Life Aberdeen plc since March 13, 2019 and its Executive Director since May 25, 2006. Mr. Skeoch has been the Chief Executive Officer at Standard Life Investments Limited since 2004 and Executive Director since 1999. He joined Standard Life in 1999 as the Chief Investment Officer. He also serves as Director and Chief Executive at Aberdeen Asset Managers Limited. Mr. Skeoch serves as Co-Chief Executive at Standard Life plc and served as its Chief Executive Officer since August 5, 2015 and has been its Executive Director since May 2006. He served as the Chief Executive Officer of Standard Life Assurance Limited until August 15, 2016 and also served as its Executive Director until September 1, 2016. Mr. Skeoch has the overall responsibility for all company business and investment operations at Standard Life. He serves as Chief Executive Officer of Global Investment Group at SL Private Equity. He served as Chief Executive Officer of Standard Life Aberdeen plc since August 05, 2015. Mr. Skeoch served as Co-Chief Executive at Standard Life Aberdeen plc since August 14, 2017 until March 13, 2019. He joined Standard Life Investments from James Capel, where he served from 1980 to 1999 as Managing Director of International Equities since 1998, Director of Economics and Strategy since 1993, Chief Economist since 1984 and International Economist since 1980. Mr. Skeoch started his career in 1979 at the Government Economic Service. Previously, he served as an Academic Advisor to the C.B.I. Mr. Skeoch serves as the Chairman of Standard Life Investments (USA) Limited. He serves as Director of HDFC Asset Management Company Ltd since October 26, 2005. Mr. Skeoch has been a Director of Standard Life Finance Plc since March 2006, Standard Life Financial, Inc. and The Standard Life Assurance Company of Canada since July 2010. He served as Non-Executive Director of HDFC Life Insurance Company Limited since November 2005 until October 22, 2019. He serves as a Member of Standard Life Charitable Trust and Standard Life Employee Services Limited. He also serves as a Director of SLTM Ltd., Standard Life Investments (Private Equity) Limited and Standard Life Investments (Mutual Funds) Limited. Mr. Skeoch serves as a Non-Executive Director of Standard Life Bank Ltd. and Standard Life Healthcare Limited. He is also a Non-Executive Director of the Financial Reporting Council. Mr. Skeoch serves as a Member of the Advisory Board of Reform Scotland. Previously, he was a Director of Ignis Asset Management and Investment Management Association. Previously he spent nearly 20 years at James Capel & Company Limited in a number of roles, including chief economist.He has been elected a Fellow of the Society of Business Economists and a Fellow of the Chartered Institute for Securities and Investment. Previously, Mr. Skeoch served as a Director of Association of British Insurers and Housing Development Finance Corporation Limited. Previously, he was a Member of HM Treasury Wholesale Markets Forum in 2009. Previously, Mr. Skeoch was a Member of The Chancellor's Working Group on Rights Issues. Previously, he worked with government and trade bodies in establishing best practices in stewardship and governance. Mr. Skeoch has vast investment experience. In November 2013, he was named European Personality of the Year by Funds Europe. Mr. Skeoch was awarded an Honorary Doctorate of Business Administration by Teesside University in 2011. He is a member of the Asset Management Taskforce. He received an M.A. in Economics from the University of Warwick in 1979 and a B.A. (Honors) in Economics from the University in Sussex in 1978.

CEO Compensation
  • Insufficient data for Norman to compare compensation growth.
  • Insufficient data for Norman to establish whether their remuneration is reasonable compared to companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

Average tenure and age of the Standard Life Investments Property Income Trust management team in years:

7.3
Average Tenure
60
Average Age
  • The average tenure for the Standard Life Investments Property Income Trust management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Colin Walklin

TITLE
Group Chief Operating Officer
AGE
65

Rod Paris

TITLE
Chief Investment Officer
AGE
60
TENURE
13.3 yrs

Jonathan Kennedy

TITLE
Director of Change & Technology
TENURE
4.1 yrs

Julian Coutts

TITLE
Chief Scientific Officer

Jason Baggaley

TITLE
Fund Manager
AGE
50

Andrew Milligan

TITLE
Head of Global Strategy
TENURE
20.3 yrs

Guy Stern

TITLE
Global Head of Multi-Asset & Macro Investing
TENURE
12 yrs

Amanda Young

TITLE
Head of Responsible Investment
AGE
46
TENURE
6.6 yrs

Norman Skeoch

TITLE
Chief Executive Officer of Standard Life Aberdeen Plc
AGE
62
TENURE
4.7 yrs

Richard Charnock

TITLE
Chief Executive Officer of Standard Life Wealth
AGE
60
TENURE
7.3 yrs
Board of Directors Tenure

Average tenure and age of the Standard Life Investments Property Income Trust board of directors in years:

2.1
Average Tenure
63
Average Age
  • The average tenure for the Standard Life Investments Property Income Trust board of directors is less than 3 years, this suggests a new board.
Board of Directors

Robert Henry Peto

TITLE
Independent Chairman of the Board
COMPENSATION
£42K
AGE
68
TENURE
3.8 yrs

Huw Evans

TITLE
Senior Independent Director
COMPENSATION
£34K
AGE
60
TENURE
0.8 yrs

Mike Balfour

TITLE
Non-Executive Director
COMPENSATION
£34K
AGE
70
TENURE
3.1 yrs

James Clifton-Brown

TITLE
Non-Executive Director
COMPENSATION
£34K
AGE
63
TENURE
3.7 yrs

Jill May

TITLE
Non-Executive Director
AGE
57
TENURE
1.1 yrs

Sarah Slater

TITLE
Non-Executive Director
TENURE
0.4 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 (£) Value (£)
X
Management checks
We assess Standard Life Investments Property Income Trust'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. Standard Life Investments Property Income Trust 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.

SLIL News

Simply Wall St News

SLIL Company Info

Description

Standard Life Investments is a leading asset manager with an expanding global reach. Our wide range of investment solutions is backed by our distinctive Focus on Change investment philosophy, disciplined risk management and shared commitment to a culture of investment excellence. As active managers, we place significant emphasis on rigorous research and a strong collaborative ethos. We constantly think ahead and strive to anticipate change before it happens, ensuring that our clients can look to the future with confidence. Standard Life Investments manages £275.2 billion* on behalf of clients worldwide. Our investment capabilities span equities, fixed income, multi-asset, private markets, real estate, liquidity and private wealth. Headquartered in Edinburgh, Standard Life Investments employs more than 1,700 talented individuals. We maintain a presence in a number of locations around the world including Boston, Hong Kong, Paris, London, Beijing, Sydney, Dublin and Seoul. In addition, we have close relationships with leading domestic players in Asia, including HDFC Asset Management in India and Sumitomo Mitsui Trust Bank in Japan.

Details
Name: Standard Life Investments Property Income Trust Limited
SLIL
Exchange: BATS-CHIXE
Founded: 2003
£310,438,314
406,865,419
Website: http://www.slipit.co.uk
Address: Standard Life Investments Property Income Trust Limited
Trafalgar Court,
Les Banques,
Saint Peter Port,
GY1 3QL,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE SLI Ordinary Shares London Stock Exchange GB GBP 19. Dec 2003
BATS-CHIXE SLIL Ordinary Shares BATS 'Chi-X Europe' GB GBP 19. Dec 2003
Number of employees
Current staff
Staff numbers
0
Standard Life Investments Property Income Trust employees.
Industry
Diversified REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/09 23:24
End of day share price update: 2020/04/09 00:00
Last earnings filing: 2019/09/18
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.