ELANOR COMMERCIAL PROPERTY FUND (ECF)
Share Price Analysis and Chart

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ECF - ELANOR COMMERCIAL PROPERTY FUND

FNArena Sector : REITs

Year End: June

GICS Industry Group : Real Estate

Debt/EBITDA: N/A

Index: ALL-ORDS

LAST PRICE	CHANGE +/-	CHANGE %	VOLUME
$0.60 21 Nov 2024	0.000 OPEN $0.60	0.000 HIGH $0.61	370,067 LOW $0.59

LAST PRICE

CHANGE +/-

CHANGE %

VOLUME

$0.60

21 Nov
2024

0.000

OPEN

$0.60

0.000

HIGH

$0.61

370,067

LOW

$0.59

TARGET

$0.67

11.7% upside

Franking for last dividend paid out: 0%

OTHER COMPANIES IN THE SAME SECTOR
ABG . AOF . ARF . ASK . BWP . CDP . CDP . CHC . CIP . CLW . COF . CQE . CQR . DXC . DXI . DXS . GDF . GDI . HCW . HDN . NSR . PLG . REP . RFF . RGN . SCG . TGP . URW . VCX . WOT . WPR .

FNARENA'S MARKET CONSENSUS FORECASTS

Title	FY23 Actual	FY24 Actual	FY25 Forecast	FY26 Forecast
EPS (cps)	xxx	- 8.3	9.8	xxx
DPS (cps)	xxx	8.4	7.6	xxx
EPS Growth	xxx	N/A	N/A	xxx
DPS Growth	xxx	- 9.6%	- 9.0%	xxx
PE Ratio	xxx	N/A	6.2	xxx
Dividend Yield	xxx	N/A	12.6%	xxx
Div Pay Ratio(%)	xxx	N/A	77.6%	xxx

Dividend yield today if purchased 3 years ago: 7.59%

DIVIDEND YIELD CALCULATOR

Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 27/03 - ex-div 2.13c (franking 0%)

HISTORICAL DATA ARE ALL IN AUD

Copyright © 2024 FactSet UK Limited. All rights reserved

Title	2019	2020	2021	2022	2023	2024
EPS Basic	xxx	xxx	xxx	xxx	xxx	-8.3
DPS All	xxx	xxx	xxx	xxx	xxx	8.4
Sales/Revenue	xxx	xxx	xxx	xxx	xxx	50.8 M
Book Value Per Share	xxx	xxx	xxx	xxx	xxx	82.0
Net Operating Cash Flow	xxx	xxx	xxx	xxx	xxx	28.3 M
Net Profit Margin	xxx	xxx	xxx	xxx	xxx	-52.55 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title	2019	2020	2021	2022	2023	2024
Return on Capital Employed	xxx	xxx	xxx	xxx	xxx	-9.18 %
Return on Invested Capital	xxx	xxx	xxx	xxx	xxx	-6.54 %
Return on Assets	xxx	xxx	xxx	xxx	xxx	-5.34 %
Return on Equity	xxx	xxx	xxx	xxx	xxx	-9.18 %
Return on Total Capital	xxx	xxx	xxx	xxx	xxx	6.45 %
Free Cash Flow ex dividends	xxx	xxx	xxx	xxx	xxx	-5.1 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title	2019	2020	2021	2022	2023	2024
Short-Term Debt	xxx	xxx	xxx	xxx	xxx	70 M
Long Term Debt	xxx	xxx	xxx	xxx	xxx	125 M
Total Debt	xxx	xxx	xxx	xxx	xxx	195 M
Goodwill - Gross	xxx	xxx	xxx	xxx	xxx	-
Cash & Equivalents - Generic	xxx	xxx	xxx	xxx	xxx	8 M
Price To Book Value	xxx	xxx	xxx	xxx	xxx	0.82

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title	2019	2020	2021	2022	2023	2024
Capex	xxx	xxx	xxx	xxx	xxx	5.7 M
Capex % of Sales	xxx	xxx	xxx	xxx	xxx	11.27 %
Cost of Goods Sold	xxx	xxx	xxx	xxx	xxx	21 M
Selling, General & Admin. Exp & Other	xxx	xxx	xxx	xxx	xxx	-1 M
Research & Development	xxx	xxx	xxx	xxx	xxx	-
Investments - Total	xxx	xxx	xxx	xxx	xxx	450 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
EXTRA COVERAGE

EXPERT VIEWS

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Sentiment Indicator

0.0

No. Of Recommendations

BROKER	DATE	RATING	RECOMMENDATION	TARGET PRICE	% TO REACH TARGET	COMMENTARY
Ord Minnett	03/09/2024	3	Hold	$0.67	11.67%	Elanor Commercial Property Fund’s FY24 result was mixed versus Ord Minnett's expectations. While funds from operations were in line, guidance for FY25 FFO and dividend both fell below. Look-through gearing increased to 46%, above the target gearing range, while the Harris Street Fund breached loan-to-value covenants and requires a capital injection to meet lender requirements. With cap rates expanding a further 40bps in the second half, the broker believes asset values are unlikely to have bottomed out. Target falls to 67c from 74c, Hold retained. FORECAST Ord Minnett forecasts a full year FY25 dividend of 7.60 cents and EPS of 9.80 cents. Ord Minnett forecasts a full year FY26 dividend of 5.10 cents and EPS of 6.30 cents.

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Ord Minnett

03/09/2024

Hold

$0.67

11.67%

Elanor Commercial Property Fund’s FY24 result was mixed versus Ord Minnett's expectations. While funds from operations were in line, guidance for FY25 FFO and dividend both fell below.

Look-through gearing increased to 46%, above the target gearing range, while the Harris Street Fund breached loan-to-value covenants and requires a capital injection to meet lender requirements.

With cap rates expanding a further 40bps in the second half, the broker believes asset values are unlikely to have bottomed out. Target falls to 67c from 74c, Hold retained.

FORECAST
Ord Minnett forecasts a full year FY25 dividend of 7.60 cents and EPS of 9.80 cents.
Ord Minnett forecasts a full year FY26 dividend of 5.10 cents and EPS of 6.30 cents.

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EXTRA COVERAGE

Display All Commentary

No. Of Recommendations

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER	DATE	RATING	RECOMMENDATION	TARGET PRICE	% TO REACH TARGET	COMMENTARY

Access Extra Coverage Research History >

ECF STOCK CHART

FNArena News on ECF

1	FNArena Corporate Results Monitor – 03-09-2024 Sep 03 2024 - Australia

2	Australian Broker Call Extra Edition – Mar 06, 2024 Mar 06 2024 - Daily Market Reports

3	FNArena Corporate Results Monitor – 23-02-2024 Feb 23 2024 - Australia

4	Australian Broker Call Extra Edition – Oct 20, 2023 Oct 20 2023 - Daily Market Reports

5	Weekly Ratings, Targets, Forecast Changes – 25-08-23 Aug 28 2023 - Weekly Reports

Latest REITs News

1	Australian Listed Real Estate Tables – 18-11-2024 Nov 18 2024 - Weekly Reports

2	Australian Listed Real Estate Tables – 11-11-2024 Nov 11 2024 - Weekly Reports

3	Australian Listed Real Estate Tables – 04-11-2024 Nov 04 2024 - Weekly Reports

4	Australian Listed Real Estate Tables – 28-10-2024 Oct 28 2024 - Weekly Reports

5	Australian Listed Real Estate Tables – 21-10-2024 Oct 21 2024 - Weekly Reports

6	Australian Listed Real Estate Tables – 14-10-2024 Oct 14 2024 - Weekly Reports

7	The Case For Charter Hall Oct 07 2024 - Australia

8	Australian Listed Real Estate Tables – 07-10-2024 Oct 07 2024 - Weekly Reports

9	Australian Listed Real Estate Tables – 30-09-2024 Sep 30 2024 - Weekly Reports

10	Australian Listed Real Estate Tables – 23-09-2024 Sep 23 2024 - Weekly Reports

Dividend Yield Today On Last Actual Payout :	13.80
Estimated Dividend Growth (Average Of Past Three Years)	%
Amount Invested	$
Tell Me The Dividend After This Many Years

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ELANOR COMMERCIAL PROPERTY FUND (ECF)
Share Price Analysis and Chart