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Schroder Real Estate Investment Trust

BATS-CHIXE:SREIL
Snowflake Description

Adequate balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SREIL
BATS-CHIXE
£181M
Market Cap
  1. Home
  2. GB
  3. Real Estate
Company description

Schroder Real Estate Investment Trust Limited (the ‘Company’ and together with its subsidiaries the ‘Group’) is a real estate investment company with a premium listing on the Official List of the UK Listing Authority and whose shares are traded on the Main Market of the London Stock Exchange (ticker: SREI). The last earnings update was 124 days ago. More info.


Add to Portfolio Compare Print
  • Schroder Real Estate Investment Trust has significant price volatility in the past 3 months.
SREIL Share Price and Events
7 Day Returns
-5.1%
BATS-CHIXE:SREIL
6.6%
GB REITs
6%
GB Market
1 Year Returns
-36.3%
BATS-CHIXE:SREIL
-20%
GB REITs
-22.7%
GB Market
SREIL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Schroder Real Estate Investment Trust (SREIL) -5.1% -27% -37.9% -36.3% -43% -43.9%
GB REITs 6.6% -22.8% -28.8% -20% -16.1% -22%
GB Market 6% -20.3% -28.1% -22.7% -24.6% -22%
1 Year Return vs Industry and Market
  • SREIL underperformed the REITs industry which returned -20% over the past year.
  • SREIL underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -22.7% over the past year.
Price Volatility
SREIL
Industry
5yr Volatility vs Market

Value

 Is Schroder Real Estate Investment 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 Schroder Real Estate Investment 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 Schroder Real Estate Investment Trust.

BATS-CHIXE:SREIL 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%
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:SREIL
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 5.4%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.46
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.46 (1 + (1- 21%) (71.67%))
0.813
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.81
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.53% + (0.813 * 5.44%)
4.95%

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

The calculations below outline how an intrinsic value for Schroder Real Estate Investment 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:SREIL DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (GBP, Millions) Source Present Value
Discounted (@ 4.95%)
2020 18.87 Est @ 1.65% 17.98
2021 19.12 Est @ 1.32% 17.36
2022 19.33 Est @ 1.08% 16.72
2023 19.50 Est @ 0.92% 16.08
2024 19.66 Est @ 0.8% 15.44
2025 19.80 Est @ 0.72% 14.82
2026 19.93 Est @ 0.66% 14.21
2027 20.06 Est @ 0.62% 13.63
2028 20.18 Est @ 0.59% 13.06
2029 20.29 Est @ 0.58% 12.52
Present value of next 10 years cash flows £151.00
BATS-CHIXE:SREIL DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= £20.29 × (1 + 0.53%) ÷ (4.95% – 0.53%)
£461.42
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= £461.42 ÷ (1 + 4.95%)10
£284.59
BATS-CHIXE:SREIL Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= £151.00 + £284.59
£435.59
Equity Value per Share
(GBP)
= Total value / Shares Outstanding
= £435.59 / 518.51
£0.85
BATS-CHIXE:SREIL Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in BATS-CHIXE:SREIL represents 1.00643x of LSE:SREI
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.00643x
Value per Share
(Listing Adjusted, GBP)
= Value per Share (GBP) x Listing Adjustment Factor
= £ 0.85 x 1.00643
£0.85
Value per share (GBP) From above. £0.85
Current discount Discount to share price of £0.35
= -1 x (£0.35 - £0.85) / £0.85
58.6%

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

Current Discount
Amount off the current price Schroder Real Estate Investment Trust is available for.
Intrinsic value
>50%
Share price is £0.35225 vs Future cash flow value of £0.85091
Current Discount Checks
For Schroder Real Estate Investment Trust to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Schroder Real Estate Investment Trust's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Schroder Real Estate Investment 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 Schroder Real Estate Investment Trust's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Schroder Real Estate Investment Trust's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BATS-CHIXE:SREIL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in GBP £0.02
LSE:SREI Share Price ** LSE (2020-03-27) in GBP £0.35
United Kingdom of Great Britain and Northern Ireland REITs Industry PE Ratio Median Figure of 38 Publicly-Listed REITs Companies 12.85x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 747 Publicly-Listed Companies 12.54x

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

** Primary Listing of Schroder Real Estate Investment Trust.

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

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

= 0.35 ÷ 0.02

18.29x

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

  • Schroder Real Estate Investment Trust is overvalued based on earnings compared to the GB REITs industry average.
  • Schroder Real Estate Investment Trust is overvalued based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Schroder Real Estate Investment Trust's expected growth come at a high price?
Raw Data
BATS-CHIXE:SREIL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 18.29x
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 0.65x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 531 Publicly-Listed Companies 0.98x

*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 Schroder Real Estate Investment Trust, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Schroder Real Estate Investment Trust's assets?
Raw Data
BATS-CHIXE:SREIL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in GBP £0.68
LSE:SREI Share Price * LSE (2020-03-27) in GBP £0.35
United Kingdom of Great Britain and Northern Ireland REITs Industry PB Ratio Median Figure of 53 Publicly-Listed REITs Companies 0.74x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,322 Publicly-Listed Companies 1.08x
BATS-CHIXE:SREIL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 0.35 ÷ 0.68

0.51x

* Primary Listing of Schroder Real Estate Investment Trust.

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

  • Schroder Real Estate Investment Trust is good value based on assets compared to the GB REITs industry average.
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Value checks
We assess Schroder Real Estate Investment 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. Schroder Real Estate Investment Trust has a total score of 3/6, see the detailed checks below.

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

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

Future Performance

 How is Schroder Real Estate Investment 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 Schroder Real Estate Investment 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
24.2%
Expected REITs industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Schroder Real Estate Investment Trust expected to grow at an attractive rate?
  • Unable to compare Schroder Real Estate Investment Trust's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Schroder Real Estate Investment 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 Schroder Real Estate Investment 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:SREIL 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 24.2%
United Kingdom of Great Britain and Northern Ireland REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.6%
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 2.6%

*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
BATS-CHIXE:SREIL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 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:SREIL Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2019-09-30 28 19 10
2019-06-30 28 16 13
2019-03-31 29 13 16
2018-12-31 28 16 23
2018-09-30 27 18 30
2018-06-30 27 20 32
2018-03-31 27 22 34
2017-12-31 27 17 35
2017-09-30 27 12 37
2017-06-30 27 11 30
2017-03-31 27 10 23
2016-12-31 28 9 18

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Schroder Real Estate Investment Trust is high growth as no earnings estimate data is available.
  • Unable to determine if Schroder Real Estate Investment 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:SREIL Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Schroder Real Estate Investment Trust Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BATS-CHIXE:SREIL Past Financials Data
Date (Data in GBP Millions) EPS *
2019-09-30 0.02
2019-06-30 0.02
2019-03-31 0.03
2018-12-31 0.04
2018-09-30 0.06
2018-06-30 0.06
2018-03-31 0.07
2017-12-31 0.07
2017-09-30 0.07
2017-06-30 0.06
2017-03-31 0.04
2016-12-31 0.04

*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 Schroder Real Estate Investment Trust will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether Schroder Real Estate Investment Trust is trading at Schroder Real Estate Investment 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. Schroder Real Estate Investment 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
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Future performance checks
We assess Schroder Real Estate Investment 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.
Schroder Real Estate Investment 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.

Past Performance

  How has Schroder Real Estate Investment Trust 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 Schroder Real Estate Investment 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.
  • Schroder Real Estate Investment Trust's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Schroder Real Estate Investment Trust's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Schroder Real Estate Investment Trust's 1-year earnings growth is negative, it can't be compared to the GB REITs industry average.
Earnings and Revenue History
Schroder Real Estate Investment 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 Schroder Real Estate Investment Trust Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BATS-CHIXE:SREIL Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 27.59 9.92 2.19
2019-06-30 28.09 12.91 2.13
2019-03-31 28.59 15.90 2.06
2018-12-31 27.81 22.93 2.07
2018-09-30 27.04 29.97 2.07
2018-06-30 26.92 31.90 2.05
2018-03-31 26.80 33.84 2.03
2017-12-31 27.06 35.25 1.94
2017-09-30 27.33 36.67 1.84
2017-06-30 27.34 29.76 1.85
2017-03-31 27.35 22.84 1.85
2016-12-31 27.89 18.36 1.85
2016-09-30 28.42 13.88 1.85
2016-06-30 28.21 25.06 1.78
2016-03-31 28.00 36.25 1.71
2015-12-31 26.84 39.04 1.66
2015-09-30 25.69 41.83 1.61
2015-06-30 25.04 48.30 1.68
2015-03-31 24.40 54.77 1.74
2014-12-31 23.47 53.69 1.76
2014-09-30 22.54 52.61 1.77
2014-06-30 21.37 36.75 1.72
2014-03-31 20.19 20.88 1.67
2013-12-31 20.45 8.98 1.50
2013-09-30 20.70 -2.92 1.33
2013-06-30 21.84 -6.74 1.37
2013-03-31 22.97 -10.57 1.40

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

Health

 How is Schroder Real Estate Investment 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 Schroder Real Estate Investment Trust's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Schroder Real Estate Investment Trust is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Schroder Real Estate Investment Trust's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Schroder Real Estate Investment 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 0.6x 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 Schroder Real Estate Investment Trust Company Filings, last reported 5 months ago.

BATS-CHIXE:SREIL Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 354.25 127.41 23.35
2019-06-30 354.25 127.41 23.35
2019-03-31 356.38 156.23 21.04
2018-12-31 356.38 156.23 21.04
2018-09-30 357.74 157.97 8.88
2018-06-30 357.74 157.97 8.88
2018-03-31 353.57 148.51 29.22
2017-12-31 353.57 148.51 29.22
2017-09-30 340.62 148.39 24.89
2017-06-30 340.62 148.39 24.89
2017-03-31 332.59 148.27 20.13
2016-12-31 332.59 148.27 20.13
2016-09-30 316.81 148.11 14.54
2016-06-30 316.81 148.11 14.54
2016-03-31 322.61 147.99 12.76
2015-12-31 322.61 147.99 12.76
2015-09-30 315.79 147.92 12.33
2015-06-30 315.79 147.92 12.33
2015-03-31 299.21 127.56 46.59
2014-12-31 299.21 127.56 46.59
2014-09-30 259.97 127.49 33.98
2014-06-30 259.97 127.49 33.98
2014-03-31 190.44 127.41 14.97
2013-12-31 190.44 127.41 14.97
2013-09-30 161.57 127.32 25.28
2013-06-30 161.57 127.32 25.28
2013-03-31 160.51 140.26 42.91
  • Schroder Real Estate Investment Trust's level of debt (36%) 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 (49% vs 36% today).
  • Debt is not well covered by operating cash flow (14.6%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 3.2x coverage).
X
Financial health checks
We assess Schroder Real Estate Investment 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. Schroder Real Estate Investment 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.

Dividends

 What is Schroder Real Estate Investment 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
7.43%
Current annual income from Schroder Real Estate Investment Trust dividends.
If you bought £2,000 of Schroder Real Estate Investment Trust shares you are expected to receive £149 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?
  • Schroder Real Estate Investment Trust's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.7%).
  • Schroder Real Estate Investment Trust's dividend is above the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (7.3%).
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:SREIL 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 5.3%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 630 Stocks 6%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1.4%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2.7%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 7.3%

Industry and Market average data is calculated daily.

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

BATS-CHIXE:SREIL Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2019-11-26 0.026 5.066
2019-07-19 0.026 4.707
2019-05-13 0.026 4.597
2019-02-18 0.026 4.529
2018-11-13 0.025 4.506
2018-05-03 0.025 4.040
2018-02-07 0.025 4.056
2017-11-08 0.025 4.046
2017-04-26 0.025 3.961
2016-11-15 0.025 4.216
2016-07-22 0.025 4.378
2016-04-27 0.025 4.518
2015-11-04 0.025 4.212
2015-07-20 0.025 4.169
2014-11-05 0.025 4.139
2014-07-21 0.025 4.523
2014-04-01 0.025 4.682
2014-01-23 0.025 4.689
2013-10-22 0.025 5.014
2013-07-19 0.025 5.422
2013-07-16 0.025 5.645
2013-04-24 0.035 8.350
2013-01-24 0.035 8.805
2012-11-20 0.035 9.115
2012-09-04 0.035 8.962
2012-07-17 0.035 9.243
2012-01-31 0.035 10.281
2011-11-21 0.035 10.676
2011-07-11 0.035 9.838
2010-11-29 0.035 9.162
2010-07-12 0.035 8.668
2009-11-27 0.035 8.578
2009-07-30 0.035 8.814
2009-07-08 0.035 10.914

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Schroder Real Estate Investment Trust's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.4x 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 Schroder Real Estate Investment Trust'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 Schroder Real Estate Investment Trust afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Schroder Real Estate Investment Trust has a total score of 3/6, see the detailed checks below.


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

Management

 What is the CEO of Schroder Real Estate Investment 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.
  • Schroder Real Estate Investment Trust has no CEO, or we have no data on them.
Management Team

Melinda Knatchbull

TITLE
Chief Operating Officer
AGE
42

Duncan Owen

TITLE
Global Head of Real Estate
AGE
52

Mark Callender

TITLE
Head of Real Estate Research

Nick Montgomery

TITLE
Head of UK Investment
AGE
45

Tony Smedley

TITLE
Head of Continental European Investment
AGE
50

Tom Walker

TITLE
Co-Head of Global Real Estate Securities
TENURE
2.8 yrs

Sarah Cockburn

TITLE
Head of Real Estate Capital Partners
TENURE
0.3 yrs

Jonathan Harris

TITLE
Head of Continental Europe

Roger Hennig

TITLE
Head of Switzerland & Nordic Real Estate
Board of Directors Tenure

Average tenure and age of the Schroder Real Estate Investment Trust board of directors in years:

4.9
Average Tenure
61.5
Average Age
  • The tenure for the Schroder Real Estate Investment Trust board of directors is about average.
Board of Directors

Lorraine Baldry

TITLE
Independent Chairman
AGE
70
TENURE
6.2 yrs

Stephen Bligh

TITLE
Independent Non-Executive Director
AGE
62
TENURE
4.9 yrs

Alastair Hughes

TITLE
Senior Independent Director
AGE
54

Graham Basham

TITLE
Independent Non-Executive Director
AGE
61
TENURE
4.5 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 (£)
03. Dec 19 Buy Stephen Bligh Individual 03. Dec 19 03. Dec 19 36,000 £0.53 £19,152
02. Dec 19 Buy Lorraine Baldry Individual 02. Dec 19 02. Dec 19 100,000 £0.53 £53,150
X
Management checks
We assess Schroder Real Estate Investment 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. Schroder Real Estate Investment 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.

News

Simply Wall St News

Company Info

Description

Schroder Real Estate Investment Trust Limited (the ‘Company’ and together with its subsidiaries the ‘Group’) is a real estate investment company with a premium listing on the Official List of the UK Listing Authority and whose shares are traded on the Main Market of the London Stock Exchange (ticker: SREI). The Company is a real estate investment trust (‘REIT’) and benefits from the various tax advantages offered by the UK REIT regime. The Company continues to be declared as an authorised closed-ended investment scheme by the Guernsey Financial Services Commission under section 8 of the Protection of Investors (Bailiwick of Guernsey) Law, 1987, as amended and the Authorised Closed-ended Collective Investment Schemes Rules 2008.

Details
Name: Schroder Real Estate Investment Trust Limited
SREIL
Exchange: BATS-CHIXE
Founded: 2004
£181,479,693
518,513,409
Website: http://www.srei.co.uk
Address: Schroder Real Estate Investment Trust Limited
Trafalgar Court,
Les Banques,
St Peter Port,
GY1 3QL,
Guernsey
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE SREI Ordinary Shares London Stock Exchange GB GBP 16. Jul 2004
BATS-CHIXE SREIL Ordinary Shares BATS 'Chi-X Europe' GB GBP 16. Jul 2004
Number of employees
Current staff
Staff numbers
0
Schroder Real Estate Investment Trust employees.
Industry
Diversified REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/29 19:47
End of day share price update: 2020/03/27 00:00
Last earnings filing: 2019/11/26
Last earnings reported: 2019/09/30
Last annual earnings reported: 2019/03/31


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.