Real Estate Investors (RLE)

[ADVERT]

Company name:	Real Estate Investors Plc
EPIC:	RLE	Trading Currency:	GBX
Market Sector:	AIMP	ISIN:	GB00B45XLP34
Market Segment:	ASX1	Share Type:	DE
WWW Address:		Description:	ORD 10P
Industry Sector:	REAL ESTATE INVESTMENT & SERVICES

Price	Price Change [%]	Bid	Offer	Open	High	Low	Volume
40.00	0.0 [0.00]	39.50	40.50	39.75	40.00	39.75	65,314
Market Cap. [m]	Shares In Issue [m]	Beta	EPS	DPS	PE Ratio	Yield	52-Wks-Range
74.57	186.42	0.02	-11.51	3.00	-	7.50	42.75 - 27.00

Real Estate Investors Key Figures

(at previous day's close)
Market Cap.	74.57	m
Shares In Issue	186.42	m
Prev. Close	40.00
PE Ratio	-
Dividend Yield	7.50	%
EPS - basic	-11.51	p
Dividend PS	3.00	p
Dividend Cover	-
Cash Flow PS	5.18	p
Return On Equity (ROE)	-21.13	%
Operating Margin	-123.20	%
PEG Factor	-
EPS Growth Rate	-687.24	%
Dividends PS Growth Rate	-21.26	%
Net Debt	107.99	m
Gross Gearing	53.47	%
Quick Assets	8.58	m
Net Working Capital	-40.54	m
Intangibles / Fixed Assets	-	%
Turnover PS	8.81	p
Pre-Tax Profit PS	-10.86	p
Retained Profit PS	-	p
Cash PS	2.27	p
Net Cash PS	-26.11	p
Net Tangible Asset Value PS *	52.39	p
Net Asset Value PS	54.50	p
Spread	1.00 (2.47%)
* 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.

Real Estate Investors Balance Sheet

Share Price Performance

Sample Period ^†	High	Low
1 week	40.75	39.00
4 weeks	41.75	39.00
12 weeks	42.75	38.50
1 year	42.75	27.00

Share Price Chart (5 years)

Real Estate Investors Historic Returns

Period ^†	Open	Change	%	Open Avg.	Avg. Daily Vol [m]	Total Vol [m]	VWAP
1 week	40.50	-0.50	-1.23	39.00	0.41		40.12
4 weeks	41.00	-1.00	-2.44	39.00	0.19		40.52
12 weeks	39.75	0.25	0.63	38.50	0.17		40.75
26 weeks	34.00	6.00	17.65	32.50	0.23		38.63
1 year	28.00	12.00	42.86	27.00	0.53		33.02
3 years	55.00	-15.00	-27.27	27.00	0.38		41.66
5 years	57.00	-17.00	-29.82	27.00	0.28		44.27
† periods calculated are whole weeks rather than calendar months

Real Estate Investors Key Management Ratios

Real Estate Investors Investment Ratios

(Market value analysis) at previous day's close
PQ Ratio	4.13
PE Ratio	-
Tobin's Q Ratio	0.33
Tobin's Q Ratio (excl. intangibles)	0.33
Dividend Yield	7.50	%
Market-to-Book Ratio	0.76
Price-to-Pre-Tax Profit PS	-3.68
Price-to-Retained Profit PS	-
Price-to-Cash Flow PS	7.72
Price-to-Sales PS	4.54
Price-to-Net Tangible Asset Value PS	0.73
Price-to-Cash PS	17.60
Net Working Capital PS	-21.75
Price Pct to Working Capital PS	-1.84	%
Earnings Yield	-	%
Average PE	15.28
Years in average	4
PE to PE average	-	%

Real Estate Investors Financial Ratios

(Leverage Ratios)
Debt Ratio	37.78	%
Debt-to-Equity Ratio	0.61
Debt-to-Equity Ratio (excl. Intgbl)	0.61
Debt-to-Equity Market Value	0.80
Net Gearing	51.45	%
Net Gearing (excl. Intangibles)	51.45	%
Gross Gearing	53.47	%
Gross Gearing (excl. Intangibles)	53.47	%
Gearing Under 1 Year	25.21	%
Gearing Under 1 Year (excl. Intgbl)	25.21	%
Assets/Equity	2.15
Cash/Equity	4.34
(Liquidity Ratios)
Net Working Capital to Total Assets	-19.32	%
Current Ratio	0.23
Quick Ratio (Acid Test)	0.16
Liquidity Ratio	0.08
Cash & Equiv/Current Assets	34.25	%
(Solvency Ratios)
Enterprise Value	129.64	m
CFO/Sales	0.59
CFO/Attributable Profit	-
CFO/Assets	0.05
CFO/Debt	0.09
Total Debt/Equity Market Value	1.50
Total Debt/Sales	6.83
Total Debt/Pre-Tax Profit	-5.55
Total Debt	112.23	m
Total Debt/Net Current Assets	-2.77	%
(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)
0.0242	0.0212

Real Estate Investors Operating Ratios

(Profitability Ratios)
Return On Capital Employed (ROCE)	-12.89	%
Return On Assets (ROA)	-9.14	%
Net Profit Margin	-125.67	%
Assets Turnover	0.07
Return On Equity (ROE)	-21.13	%
Return On Investment (ROI)	-10.77	%
Dividend Payout Ratio	-	%
Plowback Ratio	100.00	%
Growth from Plowback Ratio	-	%
Net Income Of Revenues	-	%
(Asset Utilisation Multiples)
Shareholders Equity Turnover	0.15
Fixed Assets Turnover	0.08
Current Assets Turnover	1.13
Net Working Capital Turnover
Inventory Turnover	4.34
(Other Operating Ratios)
Total Assets-to-Sales	13.75
Debtors-to-Sales	21.82	%
Debt Collection Period	79.64	Days

Real Estate Investors Dividends

Announcement Date	Type	Curr.	Dividend Amount	Period Start	Period End	Ex Date	Record Date	Payment Date	Total Dividend Amount
21 Jun 2021	Quarterly	GBX	0.75	01/12/2020	31/03/2021	01/07/2021	02/07/2021	23/07/2021	-
30 Mar 2021	Final	GBX	1.50	31/12/2019	31/12/2020	08/04/2021	09/04/2021	30/04/2021	3.00
11 Dec 2020	Quarterly	GBX	0.50	30/05/2020	30/09/2020	31/12/2020	04/01/2021	22/01/2021	-
21 Sep 2020	Quarterly	GBX	0.50	30/12/2019	30/06/2020	01/10/2020	02/10/2020	23/10/2020	-
15 Jun 2020	Quarterly	GBX	0.50	01/12/2019	31/03/2020	25/06/2020	26/06/2020	24/07/2020	-
17 Mar 2020	Final	GBX	1.00	31/12/2018	31/12/2019	26/03/2020	27/03/2020	30/04/2020	3.81
06 Dec 2019	Quarterly	GBX	0.94	30/05/2019	30/09/2019	02/01/2020	03/01/2020	24/01/2020	-
16 Sep 2019	Quarterly	GBX	0.94	30/12/2018	30/06/2019	26/09/2019	27/09/2019	31/10/2019	-
18 Jun 2019	Quarterly	GBX	0.93	01/12/2018	31/03/2019	27/06/2019	28/06/2019	26/07/2019	-
19 Mar 2019	Final	GBX	0.94	31/12/2017	31/12/2018	28/03/2019	29/03/2019	26/04/2019	3.56
18 Dec 2018	Quarterly	GBX	0.87	30/05/2018	30/09/2018	27/12/2018	28/12/2018	25/01/2019	-
17 Sep 2018	Quarterly	GBX	0.88	30/12/2017	30/06/2018	27/09/2018	28/09/2018	26/10/2018	-
18 Jun 2018	Quarterly	GBX	0.87	01/12/2017	31/03/2018	28/06/2018	29/06/2018	27/07/2018	-
20 Mar 2018	Final	GBX	0.88	31/12/2016	31/12/2017	29/03/2018	03/04/2018	27/04/2018	3.13
20 Dec 2017	Quarterly	GBX	0.88	30/05/2017	30/09/2017	28/12/2017	29/12/2017	26/01/2018	-
18 Sep 2017	Quarterly	GBX	0.75	30/12/2016	30/06/2017	28/09/2017	29/09/2017	31/10/2017	-
19 Jun 2017	Quarterly	GBX	0.62	01/12/2016	31/03/2017	29/06/2017	30/06/2017	28/07/2017	-
20 Mar 2017	Final	GBX	0.75	31/12/2015	31/12/2016	30/03/2017	31/03/2017	28/04/2017	2.62
12 Dec 2016	Quarterly	GBX	0.62	30/05/2016	30/09/2016	22/12/2016	23/12/2016	20/01/2017	-
19 Sep 2016	Quarterly	GBX	0.63	30/12/2015	30/06/2016	29/09/2016	30/09/2016	28/10/2016	-
20 Jun 2016	Quarterly	GBX	0.63	01/12/2015	31/03/2016	30/06/2016	01/07/2016	29/07/2016	2.00
14 Mar 2016	Final	GBX	1.00	31/12/2014	31/12/2015	24/03/2016	29/03/2016	29/04/2016	2.00
16 Sep 2015	Interim	GBX	1.00	30/12/2014	30/06/2015	24/09/2015	25/09/2015	23/10/2015	-
16 Mar 2015	Final	GBX	1.50	31/12/2013	31/12/2014	26/03/2015	27/03/2015	24/04/2015	1.50
17 Sep 2014	Interim	GBX	0.75	30/12/2013	30/06/2014	24/09/2014	26/09/2014	24/10/2014	-
16 Sep 2013	Interim	GBX	1.00	30/12/2012	30/06/2013	25/09/2013	27/09/2013	25/10/2013	1.00
19 Sep 2012	Interim	GBX	0.50	30/12/2011	30/06/2012	26/09/2012	28/09/2012	26/10/2012	0.50

Real Estate Investors Fundamentals

	31 Dec 2017 (GBP)		31 Dec 2018 (GBP)		31 Dec 2019 (GBP)		31 Dec 2020 (GBP)
turnover	14.88	100.00%	15.64	100.00%	16.60	100.00%	16.43	100.00%	m
pre tax profit	11.28	75.81%	8.40	53.71%	3.66	22.07%	-20.24	-123.20%	m
attributable profit	11.14	74.83%	8.29	52.99%	3.66	22.07%	-20.64	-125.67%	m
retained profit	5.78	38.82%	2.00	12.77%	-3.21	-19.35%	-	-%	m
eps - basic (p)	5.97		4.45		1.96		-11.51
eps - diluted (p)	5.88		4.37		1.93		-11.51
dividends per share	3.13		3.56		3.81		3.00

Real Estate Investors Balance Sheet

	31 Dec 2017 (GBP)		31 Dec 2018 (GBP)		31 Dec 2019 (GBP)		31 Dec 2020 (GBP)


	31 Dec 2017 (GBP)		31 Dec 2018 (GBP)		31 Dec 2019 (GBP)		31 Dec 2020 (GBP)
ASSETS
fixed assets	0.01	0.01%	0.01	0.00%	0.01	0.00%	0.01	0.00%	m
intangibles	-	-%	-	-%	-	-%	-	-%	m
fixed investments	209.42	94.47%	221.04	92.74%	225.08	93.09%	197.52	94.10%	m
current assets - other	-	-%	-	-%	-	-%	-	-%	m
stocks	3.71	1.67%	3.76	1.58%	3.78	1.56%	3.80	1.81%	m
debtors	4.20	1.90%	2.68	1.13%	2.83	1.17%	4.34	2.07%	m
cash & securities	4.34	1.96%	10.84	4.55%	10.09	4.17%	4.24	2.02%	m

TOTAL	221.68	100%	238.34	100%	241.78	100%	209.90	100%	m

LIABILITIES
creditors - short	26.55	11.98%	8.25	3.46%	15.48	6.40%	52.92	25.21%	m
creditors - long	68.08	30.71%	101.42	42.55%	100.86	41.71%	59.31	28.26%	m
creditors - other	-	-%	-	-%	-	-%	-	-%	m
subordinated loans	-	-%	-	-%	-	-%	-	-%	m
insurance funds	-	-%	-	-%	-	-%	-	-%	m

TOTAL	94.63	42.69%	109.67	46.01%	116.34	48.12%	112.23	53.47%	m

EQUITY
ord cap, reserves	127.05	57.31%	128.67	53.99%	125.44	51.88%	97.67	46.53%	m
prefs, minorities	-	-%	-	-%	-	-%	-	-%	m

TOTAL	127.05	57.31%	128.67	53.99%	125.44	51.88%	97.67	46.53%	m

OTHER
NAV Basic	68.20		69.00		67.30		54.50
NAV Diluted	68.20		69.00		67.30		54.50

Real Estate Investors Cash Flow Statement

	31 Dec 2017 (GBP)	31 Dec 2018 (GBP)	31 Dec 2019 (GBP)	31 Dec 2020 (GBP)
Operating CF	5.67	13.53	11.61	9.66	m
Pre-Financing CF	-1.15	2.48	3.28	9.33	m
Retained CF	-7.44	6.50	-0.75	-5.85	m

Real Estate Investors Brokers

Name	Activity	Type	Mnemonic	Code
Shore Capital Stockbrokers Ltd	Market Maker(MMF)	Broker/Dealer	SCAP	SHOCGB21
Seymour Pierce	Market Maker(MMF)	Broker/Dealer	SEYP	SPBTGB21
Winterflood Securities Ltd	Market Maker(MMF)	Broker/Dealer	WINS	WNTSGB2LBIC