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Comforia Residential REIT, Inc (3282.T)

Company Dividend Discount ModelIndustry: REIT - ResidentialSector: Real Estate

Valuation Snapshot

Stable Growth$976,917.67 - $4,547,629.81$2,184,502.95
Multi-Stage$579,301.62 - $632,674.56$605,502.68
Blended Fair Value$1,395,002.82
Current Price$271,600.00
Upside413.62%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS7.14%14.26%11,115.3310,223.6910,111.309,498.868,858.877,873.567,041.756,123.045,462.524,547.39
YoY Growth--8.72%1.11%6.45%7.22%12.51%11.81%15.00%12.09%20.12%55.13%
Dividend Yield--3.57%3.00%2.98%2.71%2.68%2.42%2.69%2.64%2.24%1.91%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)17,385.95
(-) Cash Dividends Paid (M)14,716.31
(=) Cash Retained (M)2,669.64
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)3,477.192,173.241,303.95
Cash Retained (M)2,669.642,669.642,669.64
(-) Cash Required (M)-3,477.19-2,173.24-1,303.95
(=) Excess Retained (M)-807.55496.391,365.69
(/) Shares Outstanding (M)0.760.760.76
(=) Excess Retained per Share-1,065.70655.081,802.26
LTM Dividend per Share19,420.6519,420.6519,420.65
(+) Excess Retained per Share-1,065.70655.081,802.26
(=) Adjusted Dividend18,354.9520,075.7221,222.91
WACC / Discount Rate7.12%7.12%7.12%
Growth Rate5.14%6.14%7.14%
Fair Value$976,917.67$2,184,502.95$4,547,629.81
Upside / Downside259.69%704.31%1,574.39%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)17,385.9518,453.3919,586.3620,788.9022,065.2623,420.0024,122.60
Payout Ratio84.64%85.72%86.79%87.86%88.93%90.00%92.50%
Projected Dividends (M)14,716.3115,817.4816,998.4018,264.7019,622.4121,078.0022,313.40

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.12%7.12%7.12%
Growth Rate5.14%6.14%7.14%
Year 1 PV (M)14,627.6814,766.8114,905.94
Year 2 PV (M)14,537.3214,815.1715,095.65
Year 3 PV (M)14,445.3214,861.4315,285.45
Year 4 PV (M)14,351.7614,905.6115,475.34
Year 5 PV (M)14,256.7514,947.7615,665.31
PV of Terminal Value (M)366,756.38384,532.72402,991.75
Equity Value (M)438,975.22458,829.49479,419.43
Shares Outstanding (M)0.760.760.76
Fair Value$579,301.62$605,502.68$632,674.56
Upside / Downside113.29%122.94%132.94%

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