Schroder Real Estate Investment Trust Ltd (SREI)

Sector:

Real Estate

Index:

FTSE Small Cap

45.80p
   
  • Change Today:
      1.50p
  • 52 Week High: 46.90
  • 52 Week Low: 39.60
  • Currency: UK Pounds
  • Shares Issued: 489.11m
  • Volume: 6,426,462
  • Market Cap: £224.01m

Key Financials

  £ (Millions) £ (Millions)
Growth Metrics 31-Mar-07 31-Mar-06
Annualisation Factor 1.0 1.0
Dividend Yield 5.0% 5.2%
     
Continuing Operations    
PE Ratio - Adjusted 4.9 5.5
PE Ratio - Diluted 4.9
10.3		 5.5
22.6
PEG - Adjusted 0.3 n/a
PEG - Diluted 0.3
0.1		 n/a
n/a
Return on Capital Employed n/a
n/a		 n/a
n/a
Operating Margin 203.79%
39.81%		 251.39%
51.64%
     
Continuing & Discontinued Operations    
PE Ratio - Adjusted 4.9 n/a
PE Ratio - Diluted 4.9
10.3		 5.5
22.6
PEG - Adjusted n/a n/a
PEG - Diluted 0.3
0.1		 n/a
n/a

  £ (Millions) £ (Millions)
Gearing 31-Mar-07 31-Mar-06
Net Gearing 38.54% 27.23%

  £ (Millions) £ (Millions)
Value Metrics 31-Mar-07 31-Mar-06
Price/Book Value 1.0 1.0
Price/Tangible Book Value 1.0 1.0
Price/ Cash Flow 68.6 27.3
Price/Revenue 15.58 14.51
Price/R&D n/a n/a
Net Asset Value per Share (exc. Intangibles) 142.17p 132.63p
Net Cash per Share n/a n/a

  £ (Millions) £ (Millions)
Annualised Fundamentals 31-Mar-07 31-Mar-06
Continuing Operations    
Revenue 30.70 28.34
EBITDA 62.56
12.22		 71.25
14.64
Depreciation n/a
n/a		 n/a
n/a
Net Interest (9.59)
(9.59)		 (4.96)
(4.96)
Profit Before Tax 97.40
47.06		 74.88
18.26
     
Revenue per Share 8.68p 8.89p
Pre-Tax Profit per Share 27.55p
13.31p		 23.49p
5.73p
Market Capitalisation £ (Millions) 478.19 456.09
Enterprise Value (EV) £ (Millions) 696.48 608.57
EBITDA/EV 8.98%
1.75%		 11.71%
2.41%
Operating Margin 203.79%
39.81%		 251.39%
51.64%
Capital Employed £ (Millions) 720.94 575.48
Return on Capital Employed n/a
n/a		 n/a
n/a
Invested Equity Capital £ (Millions) 502.65 422.77
     
Earnings per Share - Basic 27.40p
13.11p		 23.50p
5.70p
Earnings per Share - Diluted 27.40p
13.11p		 23.50p
5.70p
Earnings per Share - Adjusted 27.40p 23.50p
Earnings per Share Growth - Basic 17%
130%		 n/a
n/a
Earnings per Share Growth - Diluted 17%
130%		 n/a
n/a
Earnings per Share Growth - Adjusted 17% n/a
PE Ratio - Diluted 4.9
10.3		 5.5
22.6
PEG - Diluted 0.3
0.1		 n/a
n/a
Tax Rate 1.30% 0.13%
Dividend Cover 4.06
1.94		 3.48
0.84
Interest Cover 9.58
5.14		 9.45
3.06
     
Continuing & Discontinued Operations    
Earnings per Share - Basic 27.40p
13.11p		 23.50p
5.70p
Earnings per Share - Diluted 27.40p
13.11p		 23.50p
5.70p
Earnings per Share - Adjusted 27.40p n/a
Earnings per Share Growth - Basic 17%
130%		 n/a
n/a
Earnings per Share Growth - Diluted 17%
130%		 n/a
n/a
Earnings per Share Growth - Adjusted n/a n/a
PE Ratio - Diluted 4.9
10.3		 5.5
22.6
PEG - Diluted 0.3
0.1		 n/a
n/a
Dividend Cover 4.06
1.94		 n/a
0.84
Return on Equity (ROE) 19.24%
9.22%		 17.69%
4.30%
Operating Cash Flow per Share 1.97p 4.73p
Gross Cash Flow per Share cn/a cn/a
Cash Incr/Decr per Share (3.69p) (5.53p)
Capital Expenditure per Share n/a n/a
Dividend per Share 6.75p 6.75p
Dividend per Share Growth n/a n/a
Dividend Yield 5.0% 5.2%
Shareholders Funds 502.65 422.77
Net Borrowings £ (Millions) 193.74 115.10
Net Asset Value per Share (inc. Intangibles) 142.17p 132.63p

  £ (Millions) £ (Millions)
Gearing - inc Intangibles 31-Mar-07 31-Mar-06
Shareholders' Funds inc Intangibles 502.65 422.77
Net Borrowings £ (Millions) 193.74 115.10
Net Gearing 38.54% 27.23%
Cash & Near Cash 24.55 37.61
Cash 4.88% 8.90%
Gross Borrowings 218.29 152.71
Gross Gearing 43.43% 36.12%
Borrowings Under 5 years 218.29 152.71
Under 5 years 43.43% 36.12%
Borrowings Under 1 year 69.02 n/a
Under 1 year 13.73% n/a

  £ (Millions) £ (Millions)
Gearing - exc Intangibles 31-Mar-07 31-Mar-06
Shareholders' Funds exc Intangibles 502.65 422.77
Net Borrowings £ (Millions) 193.74 115.10
Net Gearing 38.54% 27.23%
Cash & Near Cash 24.55 37.61
Cash 4.88% 8.90%
Gross Borrowings 218.29 152.71
Gross Gearing 43.43% 36.12%
Borrowings Under 5 years 218.29 152.71
Under 5 years 43.43% 36.12%
Borrowings Under 1 year 69.02 n/a
Under 1 year 13.73% n/a

  £ (Millions) £ (Millions)
Cover 31-Mar-07 31-Mar-06
Quick Ratio n/a n/a
Current Ratio 0.32 1.78

Key

* GAAP

a. Includes discontinued activities

b. Based on operating cash flow before tax

c. Not disclosed under IFRS

d. Includes non-current assets

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: Above ratios are on a 'per annum' basis, adjusted for corporate actions and based on the fundamentals of the primary listed security.

Note 3: Under IFRS, all figures are based on 'Continuing' operations unless otherwise stated.

Note 4: Normalised ratios are shown in blue text

Note 5: Forecast figures based on normalised accounts.

 

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