Standard Life Investment... (SLI)

Company name:	Standard Life Investments Property Income Trust Ld
EPIC:	SLI	Trading Currency:	GBX
Market Sector:	SSC5	ISIN:	GB0033875286
Market Segment:	SSMM	Share Type:	DE
WWW Address:	http://www.standardlifeinvestments.com/	Description:	ORD 1P
Industry Sector:	REAL ESTATE INVESTMENT & SERVICES

Price	Price Change [%]	Bid	Offer	Open	High	Low	Volume
65.70	-1.7 [-2.52]	66.00	66.40	65.00	66.80	64.30	844,911
Market Cap. [m]	Shares In Issue [m]	Beta	EPS	DPS	PE Ratio	Yield	52-Wks-Range
267.31	406.87	0.03	3.98	4.76	16.51	7.25	76.00 - 45.05

Standard Life Investment... Key Figures

(at previous day's close)
Market Cap.	267.31	m
Shares In Issue	406.87	m
Prev. Close	67.40
PE Ratio	16.51
Dividend Yield	7.25	%
EPS - basic	3.98	p
Dividend PS	4.76	p
Dividend Cover	0.84
Cash Flow PS	4.57	p
Return On Equity (ROE)	4.04	%
Operating Margin	54.03	%
PEG Factor	-0.34
EPS Growth Rate	-48.18	%
Dividends PS Growth Rate	-	%
Net Debt	134.50	m
Gross Gearing	27.87	%
Quick Assets	22.39	m
Net Working Capital	12.51	m
Intangibles / Fixed Assets	1.14	%
Turnover PS	7.34	p
Pre-Tax Profit PS	3.97	p
Retained Profit PS	-1.13	p
Cash PS	1.59	p
Net Cash PS	-0.84	p
Net Tangible Asset Value PS *	88.30	p
Net Asset Value PS	89.66	p
Spread	0.40 (0.60%)
* Calculation based on Ordinary Capital figure as contained in last annual report, and the most recent shares in issue figure. Therefore the ratio might be exposed to inaccuracies.

Standard Life Investment... Balance Sheet

Share Price Performance

Sample Period ^†	High	Low
1 week	68.00	64.00
4 weeks	68.00	60.40
12 weeks	68.00	57.50
1 year	76.00	45.05

Share Price Chart (5 years)

Standard Life Investment... Historic Returns

Period ^†	Open	Change	%	Open Avg.	Avg. Daily Vol [m]	Total Vol [m]	VWAP
1 week	67.20	-1.50	-2.23	64.00	0.67		66.12
4 weeks	61.80	3.90	6.31	60.40	0.74		63.93
12 weeks	60.00	5.70	9.50	57.50	0.96		61.73
26 weeks	51.00	14.70	28.82	50.40	1.03		59.29
1 year	69.00	-3.30	-4.78	45.05	0.99		58.54
3 years	94.00	-28.30	-30.11	45.05	0.77		75.39
5 years	85.25	-19.55	-22.93	45.05	0.71		79.45
† periods calculated are whole weeks rather than calendar months

Standard Life Investment... Key Management Ratios

Standard Life Investment... Investment Ratios

(Market value analysis) at previous day's close
PQ Ratio	4.10
PE Ratio	16.51
Tobin's Q Ratio	0.53
Tobin's Q Ratio (excl. intangibles)	0.53
Dividend Yield	7.25	%
Market-to-Book Ratio	0.73
Price-to-Pre-Tax Profit PS	16.56
Price-to-Retained Profit PS	-58.22
Price-to-Cash Flow PS	14.38
Price-to-Sales PS	8.95
Price-to-Net Tangible Asset Value PS	0.74
Price-to-Cash PS	41.28
Net Working Capital PS	3.07
Price Pct to Working Capital PS	21.37	%
Earnings Yield	6.06	%
Average PE	14.52
Years in average	5
PE to PE average	113.68	%

Standard Life Investment... Financial Ratios

(Leverage Ratios)
Debt Ratio	26.44	%
Debt-to-Equity Ratio	0.36
Debt-to-Equity Ratio (excl. Intgbl)	0.36
Debt-to-Equity Market Value	0.49
Net Gearing	26.59	%
Net Gearing (excl. Intangibles)	26.89	%
Gross Gearing	27.87	%
Gross Gearing (excl. Intangibles)	28.18	%
Gearing Under 1 Year	1.95	%
Gearing Under 1 Year (excl. Intgbl)	1.97	%
Assets/Equity	1.39
Cash/Equity	1.78
(Liquidity Ratios)
Net Working Capital to Total Assets	2.47	%
Current Ratio	2.27
Quick Ratio (Acid Test)	2.27
Liquidity Ratio	0.66
Cash & Equiv/Current Assets	28.93	%
(Solvency Ratios)
Enterprise Value	391.93	m
CFO/Sales	0.62
CFO/Attributable Profit	1.26
CFO/Assets	0.04
CFO/Debt	0.13
Total Debt/Equity Market Value	0.53
Total Debt/Sales	4.72
Total Debt/Pre-Tax Profit	8.73
Total Debt	140.97	m
Total Debt/Net Current Assets	11.27	%
(Dodds - Graham Ratios)
3 yr Compound Earnings Growth	-	%
5 yr Compound Earnings Growth	-	%
10 yr Compound Earnings Growth	-	%
Earn drops > 5% in 10yrs	9

Beta (60-Mnth)	Beta (36-Mnth)
0.0324	0.0366

Standard Life Investment... Operating Ratios

(Profitability Ratios)
Return On Capital Employed (ROCE)	3.26	%
Return On Assets (ROA)	2.89	%
Net Profit Margin	49.29	%
Assets Turnover	0.06
Return On Equity (ROE)	4.04	%
Return On Investment (ROI)	2.96	%
Dividend Payout Ratio	119.60	%
Plowback Ratio	-19.60	%
Growth from Plowback Ratio	-0.79	%
Net Income Of Revenues	-15.37	%
(Asset Utilisation Multiples)
Shareholders Equity Turnover	0.08
Fixed Assets Turnover	0.06
Current Assets Turnover	1.64
Net Working Capital Turnover
Inventory Turnover	-
(Other Operating Ratios)
Total Assets-to-Sales	17.03
Debtors-to-Sales	18.39	%
Debt Collection Period	67.14	Days

Standard Life Investment... Dividends

Announcement Date	Type	Curr.	Dividend Amount	Period Start	Period End	Ex Date	Record Date	Payment Date	Total Dividend Amount
19 Apr 2021	Interim	GBX	0.38	01/12/2020	31/03/2021	29/04/2021	30/04/2021	18/05/2021	-
03 Feb 2021	Interim	GBX	0.71	31/12/2019	31/12/2020	11/02/2021	12/02/2021	26/02/2021	3.32
06 Nov 2020	Interim	GBX	0.71	30/05/2020	30/09/2020	12/11/2020	13/11/2020	30/11/2020	-
03 Aug 2020	Interim	GBX	0.71	30/12/2019	30/06/2020	13/08/2020	14/08/2020	28/08/2020	-
06 May 2020	Interim	GBX	1.19	01/12/2019	31/03/2020	14/05/2020	15/05/2020	29/05/2020	-
05 Mar 2020	Interim	GBX	1.19	31/12/2018	31/12/2019	12/03/2020	13/03/2020	31/03/2020	4.76
06 Nov 2019	Interim	GBX	1.19	30/05/2019	30/09/2019	14/11/2019	15/11/2019	29/11/2019	-
08 Aug 2019	Interim	GBX	1.19	30/12/2018	30/06/2019	15/08/2019	16/08/2019	30/08/2019	-
08 May 2019	Interim	GBX	1.19	01/12/2018	31/03/2019	16/05/2019	17/05/2019	31/05/2019	-
13 Mar 2019	Interim	GBX	1.19	31/12/2017	31/12/2018	21/03/2019	22/03/2019	29/03/2019	4.76
07 Nov 2018	Interim	GBX	1.19	30/05/2018	30/09/2018	15/11/2018	16/11/2018	30/11/2018	-
07 Aug 2018	Interim	GBX	1.19	30/12/2017	30/06/2018	16/08/2018	17/08/2018	31/08/2018	-
09 May 2018	Interim	GBX	1.19	01/12/2017	31/03/2018	17/05/2018	18/05/2018	31/05/2018	-
08 Mar 2018	Interim	GBX	1.19	31/12/2016	31/12/2017	15/03/2018	16/03/2018	29/03/2018	4.79
09 Nov 2017	Interim	GBX	1.19	30/05/2017	30/09/2017	16/11/2017	17/11/2017	30/11/2017	-
09 Aug 2017	Interim	GBX	1.19	30/12/2016	30/06/2017	17/08/2017	18/08/2017	31/08/2017	-
09 May 2017	Interim	GBX	1.19	01/12/2016	31/03/2017	18/05/2017	19/05/2017	31/05/2017	-
08 Mar 2017	Interim	GBX	1.19	31/12/2015	31/12/2016	16/03/2017	17/03/2017	31/03/2017	4.76
08 Nov 2016	Interim	GBX	1.19	30/05/2016	30/09/2016	17/11/2016	18/11/2016	30/11/2016	-
09 Aug 2016	Interim	GBX	1.19	30/12/2015	30/06/2016	18/08/2016	19/08/2016	31/08/2016	-
11 May 2016	Interim	GBX	1.19	01/12/2015	31/03/2016	19/05/2016	20/05/2016	31/05/2016	-
08 Mar 2016	Final	GBX	0.01	31/12/2014	31/12/2015	17/03/2016	18/03/2016	31/03/2016	4.64
16 Dec 2015	Interim	GBX	1.02	31/12/2014	31/12/2015	17/12/2015	18/12/2015	31/03/2016	-
03 Nov 2015	Interim	GBX	1.16	30/05/2015	30/09/2015	12/11/2015	13/11/2015	27/11/2015	-
27 Jul 2015	Interim	GBX	1.16	30/12/2014	30/06/2015	06/08/2015	07/08/2015	21/08/2015	-
29 Apr 2015	Interim	GBX	1.16	01/12/2014	31/03/2015	07/05/2015	08/05/2015	22/05/2015	-
27 Jan 2015	Final	GBX	1.16	31/12/2013	31/12/2014	05/02/2015	06/02/2015	20/02/2015	4.64
04 Nov 2014	Interim	GBX	1.16	30/05/2014	30/09/2014	13/11/2014	14/11/2014	28/11/2014	-
04 Jul 2014	Interim	GBX	1.16	30/12/2013	30/06/2014	23/07/2014	25/07/2014	22/08/2014	-
23 Apr 2014	Interim	GBX	1.16	01/12/2013	31/03/2014	07/05/2014	09/05/2014	23/05/2014	-
28 Jan 2014	Final	GBX	1.13	31/12/2012	31/12/2013	05/02/2014	07/02/2014	21/02/2014	4.52
04 Nov 2013	Interim	GBX	1.13	30/05/2013	30/09/2013	13/11/2013	15/11/2013	29/11/2013	-
30 Jul 2013	Interim	GBX	1.13	30/12/2012	30/06/2013	07/08/2013	09/08/2013	23/08/2013	-
22 Apr 2013	Interim	GBX	1.13	01/12/2012	31/03/2013	08/05/2013	10/05/2013	24/05/2013	-
29 Jan 2013	Final	GBX	1.13	31/12/2011	31/12/2012	06/02/2013	08/02/2013	22/02/2013	4.52
06 Nov 2012	Interim	GBX	1.13	31/12/2011	31/12/2012	14/11/2012	16/11/2012	30/11/2012	-
31 Jul 2012	Interim	GBX	1.13	31/12/2011	31/12/2012	08/08/2012	10/08/2012	24/08/2012	-
01 May 2012	Interim	GBX	1.13	31/12/2011	31/12/2012	09/05/2012	11/05/2012	25/05/2012	-
31 Jan 2012	Final	GBX	1.13	31/12/2010	31/12/2011	08/02/2012	10/02/2012	24/02/2012	4.46
09 Nov 2011	Interim	GBX	1.13	31/12/2010	31/12/2011	16/11/2011	18/11/2011	30/11/2011	-
29 Jun 2011	Interim	GBX	1.10	31/12/2010	31/12/2011	06/07/2011	08/07/2011	26/08/2011	-
04 May 2011	Interim	GBX	1.10	31/12/2010	31/12/2011	11/05/2011	13/05/2011	27/05/2011	-
01 Feb 2011	Final	GBX	1.10	31/12/2009	31/12/2010	09/02/2011	11/02/2011	25/02/2011	4.40
02 Nov 2010	Interim	GBX	1.10	31/12/2009	31/12/2010	10/11/2010	12/11/2010	26/11/2010	-
05 Aug 2010	Interim	GBX	1.10	31/12/2009	31/12/2010	11/08/2010	13/08/2010	27/08/2010	-
06 May 2010	Interim	GBX	1.10	31/12/2009	31/12/2010	12/05/2010	14/05/2010	28/05/2010	-
03 Feb 2010	Special	GBX	0.25	31/12/2008	31/12/2009	10/02/2010	12/02/2010	26/02/2010	-
03 Feb 2010	Final	GBX	1.00	31/08/2009	31/12/2009	10/02/2010	12/02/2010	26/02/2010	4.00
04 Nov 2009	Interim	GBX	1.00	30/05/2009	30/09/2009	11/11/2009	13/11/2009	27/11/2009	-
26 Aug 2009	Interim	GBX	1.00	02/03/2009	30/06/2009	12/08/2009	14/08/2009	28/08/2009	-
07 May 2009	Interim	GBX	1.00	01/12/2008	31/03/2009	13/05/2009	15/05/2009	29/05/2009	-
02 Feb 2009	Final	GBX	1.00	31/08/2008	31/12/2008	11/02/2009	13/02/2009	27/02/2009	6.07
11 Nov 2008	Interim	GBX	1.69	30/05/2008	30/09/2008	19/11/2008	21/11/2008	05/12/2008	-
22 Aug 2008	Interim	GBX	1.69	01/03/2008	30/06/2008	13/08/2008	15/08/2008	29/08/2008	-
07 May 2008	Interim	GBX	1.69	01/12/2007	31/03/2008	14/05/2008	16/05/2008	30/05/2008	-
07 Feb 2008	Final	GBX	1.69	31/08/2007	31/12/2007	13/02/2008	15/02/2008	29/02/2008	6.76
06 Nov 2007	Interim	GBX	1.69	30/05/2007	30/09/2007	14/11/2007	16/11/2007	30/11/2007	-
07 Aug 2007	Interim	GBX	1.69	02/03/2007	30/06/2007	15/08/2007	17/08/2007	31/08/2007	-
10 May 2007	Interim	GBX	1.69	01/12/2006	31/03/2007	16/05/2007	18/05/2007	31/05/2007	-
08 Feb 2007	Final	GBX	1.69	31/12/2005	31/12/2006	14/02/2007	16/02/2007	28/02/2007	6.70
13 Nov 2006	Interim	GBX	1.69	30/05/2006	30/09/2006	15/11/2006	17/11/2006	30/11/2006	-
09 Aug 2006	Interim	GBX	1.69	02/03/2006	30/06/2006	16/08/2006	18/08/2006	31/08/2006	-
11 May 2006	Interim	GBX	1.63	01/12/2005	31/03/2006	17/05/2006	19/05/2006	31/05/2006	-
09 Feb 2006	Final	GBX	1.63	31/12/2004	31/12/2005	15/02/2006	17/02/2006	28/02/2006	6.50
10 Nov 2005	Quarterly	GBX	1.63	31/12/2004	31/12/2005	16/11/2005	18/11/2005	30/11/2005	-
11 Aug 2005	Quarterly	GBX	1.63	31/12/2004	31/12/2005	17/08/2005	19/08/2005	31/08/2005	-
12 May 2005	Quarterly	GBX	1.63	31/12/2004	31/12/2005	18/05/2005	20/05/2005	31/05/2005	-
08 Feb 2005	Final	GBX	1.63	31/12/2003	31/12/2004	16/02/2005	18/02/2005	28/02/2005	6.50
04 Nov 2004	Quarterly	GBX	1.63	30/05/2004	30/09/2004	10/11/2004	12/11/2004	25/11/2004	-
06 Aug 2004	Quarterly	GBX	1.63	01/03/2004	30/06/2004	09/08/2004	11/08/2004	19/08/2004	-
28 Apr 2004	Quarterly	GBX	1.63	01/12/2003	31/03/2004	12/05/2004	14/05/2004	26/05/2004	-

Standard Life Investment... Fundamentals

	31 Dec 2016 (GBP)		31 Dec 2017 (GBP)		31 Dec 2018 (GBP)		31 Dec 2019 (GBP)
turnover	30.41	100.00%	28.53	100.00%	27.77	100.00%	29.88	100.00%	m
pre tax profit	14.20	46.68%	42.47	148.86%	30.95	111.43%	16.14	54.03%	m
attributable profit	14.20	46.68%	1.32	4.62%	32.39	116.61%	14.73	49.29%	m
retained profit	-2.87	-9.43%	-17.28	-60.57%	13.15	47.35%	-4.59	-15.37%	m
eps - basic (p)	3.73		10.91		7.68		3.98
eps - diluted (p)	3.73		10.91		7.68		3.98
dividends per share	4.76		4.79		4.76		4.76

Standard Life Investment... Balance Sheet

	31 Dec 2016 (GBP)		31 Dec 2017 (GBP)		31 Dec 2018 (GBP)		31 Dec 2019 (GBP)


	31 Dec 2016 (GBP)		31 Dec 2017 (GBP)		31 Dec 2018 (GBP)		31 Dec 2019 (GBP)
ASSETS
fixed assets	-	-%	-	-%	-	-%	-	-%	m
intangibles	4.19	0.94%	3.66	0.78%	2.90	0.57%	5.52	1.09%	m
fixed investments	395.78	88.80%	404.25	86.23%	495.25	96.69%	477.86	94.48%	m
current assets - other	29.98	6.73%	25.30	5.40%	-	-%	10.70	2.12%	m
stocks	-	-%	-	-%	-	-%	-	-%	m
debtors	2.72	0.61%	21.25	4.53%	5.78	1.13%	5.21	1.03%	m
cash & securities	13.05	2.93%	14.33	3.06%	8.26	1.61%	6.48	1.28%	m

TOTAL	445.72	100%	468.80	100%	512.19	100%	505.77	100%	m

LIABILITIES
creditors - short	10.13	2.27%	11.34	2.42%	12.36	2.41%	9.88	1.95%	m
creditors - long	127.16	28.53%	111.46	23.78%	130.44	25.47%	131.10	25.92%	m
creditors - other	-	-%	-	-%	-	-%	-	-%	m
subordinated loans	-	-%	-	-%	-	-%	-	-%	m
insurance funds	-	-%	-	-%	-	-%	-	-%	m

TOTAL	137.29	30.80%	122.80	26.19%	142.80	27.88%	140.97	27.87%	m

EQUITY
ord cap, reserves	308.44	69.20%	346.00	73.81%	369.39	72.12%	364.79	72.13%	m
prefs, minorities	-	-%	-	-%	-	-%	-	-%	m

TOTAL	308.44	69.20%	346.00	73.81%	369.39	72.12%	364.79	72.13%	m

OTHER
NAV Basic	81.00		-		-		-
NAV Diluted	81.00		-		-		-

Standard Life Investment... Cash Flow Statement

	31 Dec 2016 (GBP)	31 Dec 2017 (GBP)	31 Dec 2018 (GBP)	31 Dec 2019 (GBP)
Operating CF	20.81	5.86	37.44	18.59	m
Pre-Financing CF	39.56	25.75	-13.74	23.24	m
Retained CF	0.66	1.28	-6.07	-1.79	m

Standard Life Investment... Brokers

Name	Activity	Type	Mnemonic	Code
J.P. Morgan Cazenove Limited	Market Maker(MME)	Broker/Dealer	CAZR	CAZEGB2L
Collins Stewart Europe Limited	Market Maker(MME)	Broker/Dealer	CSCS	CSTEGB21
HSBC Bank plc	Market Maker(MME)	Broker/Dealer	HSBC	JCAPGB2L
J.P. Morgan Securities Ltd	Market Maker(MME)	Broker/Dealer	JPMS	JPMSGB2L
Numis Securities Limited	Market Maker(MME)	Broker/Dealer	NUMS	RAZHGB2LBIC
UBS AG	Market Maker(MME)	Broker/Dealer	UBS.	UBSWGB2LEQU
Winterflood Securities Ltd	Market Maker(MME)	Broker/Dealer	WINS	WNTSGB2LBIC