Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Alkhabeer REIT Fund (4348.SR)

Company Dividend Discount ModelIndustry: REIT - DiversifiedSector: Real Estate

Valuation Snapshot

Stable Growth$5.75 - $8.66$7.13
Multi-Stage$12.19 - $13.37$12.76
Blended Fair Value$9.94
Current Price$5.77
Upside72.36%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022202120202019
DPS13.52%0.00%0.380.280.450.380.260.200.000.000.000.00
YoY Growth--33.33%-37.00%17.60%45.45%31.22%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--6.64%4.61%5.92%4.42%2.80%1.84%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)95.22
(-) Cash Dividends Paid (M)93.39
(=) Cash Retained (M)1.83
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)19.0411.907.14
Cash Retained (M)1.831.831.83
(-) Cash Required (M)-19.04-11.90-7.14
(=) Excess Retained (M)-17.22-10.07-5.31
(/) Shares Outstanding (M)141.01141.01141.01
(=) Excess Retained per Share-0.12-0.07-0.04
LTM Dividend per Share0.660.660.66
(+) Excess Retained per Share-0.12-0.07-0.04
(=) Adjusted Dividend0.540.590.62
WACC / Discount Rate7.21%7.21%7.21%
Growth Rate-2.00%-1.00%0.00%
Fair Value$5.75$7.13$8.66
Upside / Downside-0.37%23.49%50.16%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)95.2294.2693.3292.3991.4690.5593.27
Payout Ratio98.08%96.46%94.85%93.23%91.62%90.00%92.50%
Projected Dividends (M)93.3990.9388.5186.1483.8081.4986.27

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.21%7.21%7.21%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)83.9684.8285.67
Year 2 PV (M)75.4677.0178.57
Year 3 PV (M)67.8069.9072.04
Year 4 PV (M)60.9163.4366.03
Year 5 PV (M)54.6957.5460.51
PV of Terminal Value (M)1,375.571,447.191,521.78
Equity Value (M)1,718.391,799.891,884.60
Shares Outstanding (M)141.01141.01141.01
Fair Value$12.19$12.76$13.37
Upside / Downside111.20%121.22%131.63%

High-Yield Dividend Screener

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