Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Jadwa REIT Al Haramain Fund (4332.SR)

Company Dividend Discount ModelIndustry: REIT - Hotel & MotelSector: Real Estate

Valuation Snapshot

Stable Growth$7.83 - $11.66$9.65
Multi-Stage$14.50 - $15.97$15.22
Blended Fair Value$12.44
Current Price$5.27
Upside136.01%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR20242023202220212020201920182017
DPS0.00%0.00%0.000.000.000.000.200.540.540.150.000.00
YoY Growth--0.00%0.00%0.00%-100.00%-62.96%0.00%260.00%0.00%0.00%0.00%
Dividend Yield--0.00%0.00%0.00%0.00%2.68%6.60%7.20%1.46%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)63.25
(-) Cash Dividends Paid (M)8.58
(=) Cash Retained (M)54.67
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)12.657.914.74
Cash Retained (M)54.6754.6754.67
(-) Cash Required (M)-12.65-7.91-4.74
(=) Excess Retained (M)42.0246.7749.93
(/) Shares Outstanding (M)66.0066.0066.00
(=) Excess Retained per Share0.640.710.76
LTM Dividend per Share0.130.130.13
(+) Excess Retained per Share0.640.710.76
(=) Adjusted Dividend0.770.840.89
WACC / Discount Rate7.60%7.60%7.60%
Growth Rate-2.00%-1.00%0.00%
Fair Value$7.83$9.65$11.66
Upside / Downside48.50%83.16%121.31%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)63.2562.6261.9961.3760.7660.1561.96
Payout Ratio13.56%28.85%44.14%59.43%74.71%90.00%92.50%
Projected Dividends (M)8.5818.0727.3636.4745.3954.1457.31

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.60%7.60%7.60%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)16.6216.7916.96
Year 2 PV (M)23.1623.6324.11
Year 3 PV (M)28.4029.2830.17
Year 4 PV (M)32.5233.8635.25
Year 5 PV (M)35.6837.5339.47
PV of Terminal Value (M)820.89863.64908.15
Equity Value (M)957.261,004.741,054.12
Shares Outstanding (M)66.0066.0066.00
Fair Value$14.50$15.22$15.97
Upside / Downside175.22%188.87%203.06%

High-Yield Dividend Screener

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