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Workspace Group plc R.E.I.T. (GB:WKP)
:WKP
RESEARCH TOOLSreports
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Workspace Group plc R.E.I.T.
(LSE:WKP)55Neutral
Positive Factors
Customer Demand
There continues to be good customer demand with 296 new lettings completed in the quarter, taking the total for H1 to 603.
Earnings Growth
The interim results continue to show robust growth, with capital values appearing to have stabilized and the company being well-capitalized, generating an attractive and growing total return.
Negative Factors
Stock Price Volatility
Workspace shares have seen a sharp sell-off, falling 18% since the start of October, as interest rate expectations reversed and the five-year swap has risen 50bps from the September lows.
Workspace Group plc R.E.I.T. (WKP) vs. S&P 500 (SPY)
Market Cap
£806.30M
Dividend Yield6.69%
Average Volume (3M)299.76K
Price to Earnings (P/E)―
Beta (1Y)1.35
Revenue Growth1.86%
EPS Growth84.48%
CountryUK
Employees318
SectorReal Estate
Sector Strength72
IndustryREITs
Share Statistics
EPS (TTM)-0.18
Shares Outstanding191,910,390
10 Day Avg. Volume326,079
30 Day Avg. Volume299,763
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)3.93
Price to Cash Flow (P/CF)12.70
P/FCF Ratio8.50
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
598.68pPrice Target Upside41.03% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering6
Workspace Group plc R.E.I.T. Business Overview & Revenue Model
Company DescriptionWorkspace Group PLC is a real estate investment trust engaged in the acquisition, design, development, and ownership of office buildings throughout London. The company mainly focuses on leasing office properties to new and growing companies. The real estate assets in Workspace's portfolio are clustered around the London area of Farringdon and elsewhere in northern and central London. The company derives the vast majority of its income in the form of rental revenue from tenants organized into short-term leases. Workspace's tenants include marketing, business consultancy, fashion, finance, software, and architectural firms.
How the Company Makes Money
Workspace Group plc R.E.I.T. Financial Statement Overview
Summary
Income Statement
Balance Sheet
Cash Flow
| Breakdown | ||||
| Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 184.30M | 174.20M | 132.90M | 142.30M | 161.40M | Gross Profit |
| 126.20M | 116.60M | 86.70M | 81.50M | 122.00M | EBIT |
| -157.90M | 95.10M | 67.40M | 62.50M | 104.30M | EBITDA |
| 103.20M | 97.40M | 70.10M | -209.90M | 105.70M | Net Income Common Stockholders |
| -192.50M | -37.80M | 123.90M | -235.70M | 72.10M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 11.60M | 18.50M | 49.00M | 191.00M | 79.20M | Total Assets |
| 2.53B | 2.84B | 2.51B | 2.59B | 2.74B | Total Debt |
| 889.50M | 943.60M | 626.50M | 779.10M | 654.40M | Net Debt |
| 877.90M | 925.10M | 577.50M | 588.10M | 575.20M | Total Liabilities |
| 982.50M | 1.05B | 712.30M | 874.10M | 737.50M | Stockholders Equity |
| 1.55B | 1.79B | 1.80B | 1.72B | 2.00B |
| Cash Flow | Free Cash Flow | |||
| 51.90M | 74.90M | 56.70M | 36.00M | 81.50M | Operating Cash Flow |
| 53.90M | 78.80M | 57.90M | 38.40M | 84.70M | Investing Cash Flow |
| 45.90M | -200.20M | 9.20M | -14.90M | 14.60M | Financing Cash Flow |
| -106.70M | 90.90M | -209.10M | 90.30M | -46.80M |
Workspace Group plc R.E.I.T. Peers Comparison
Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Performance Comparison
GB:WKP
Workspace Group plc R.E.I.T.
420.50
-48.98
-10.43%
BYLOF
Big Yellow Group
11.90
-1.27
-9.64%
GB:BLND
British Land Company plc
348.00
9.14
2.70%
GB:DLN
Derwent London plc REIT
1,805.00
-156.97
-8.00%
GB:LAND
Land Securities Group plc REIT
552.50
-32.62
-5.57%
GB:SGRO
Segro plc (REIT)
675.20
-177.46
-20.81%
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.