Welcome to InvestSMART

You are currently viewing our site as a guest, which gives you limited access to our site features. By signing up for a free membership, you will receive our Investment Opportunity newsletters and have access to additional features for finding and comparing managed funds and shares. Registration is fast and simple, so please:

General Information

ALE Property Group
Specialized REITs

Current Price Data+

Current Price Open High Low Last Close Volume Price Movement
$3.65 $3.65 $3.65 $3.65 $3.65 1575 - ( No change )
  • +Security prices are delayed by least 20 minutes and are indicative only.

Current Broker Consensus Recommendation


Company Overview

Business Description
ALE Property Group (LEP) is a property investment and property fund management company which owns a property portfolio of 87 pubs across five mainland states of Australia. LEP comprises of Australian Leisure and Entertainment Property Trust and its controlled entities including ALE Direct Property Trust, ALE Finance Company PTY Limited and Australian Leisure and Entertainment Property Management Limited as the responsible entity of the trust.
Strategy Analysis
ALE is a passive owner and operator of pub properties. Each property is leased to Australian Leisure and Hospitality, a Woolworths subsidiary, for an initial term of 25 years to 2028 with four 10-year options to renew. Annual rent reviews are linked to CPI. ALE is seeking to acquire additional high quality properties that complement its existing portfolio. 2010 was a period of consolidation with 12 properties sold and debt reduced to more conservative levels. ALE Property Group reported a net loss of $3.73m for the half-year ended 31 December 2012. Revenues from ordinary activities were $26.39m, up 2.9% from last year. Basic and Diluted EPS was (2.2) cents compared to 0.23 cents last year. Net operating cash flow was $18.14m compared to $10.68m last year. The interim dividend declared was 8 cents, compared with 8 cents last year.

Financial Summary

Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2016 F 26.5 13.5 5.9% 27.0 17.1 4.7% 0.0%
2015 F 25.0 12.8 -10.0% 28.6 16.8 4.6% 0.0%
2014 A 27.7 14.2 1.7% 19.7 16.5 5.9% 0.0%

Peer Comparison

Company Mkt Cap EPS Growth (%) P/E (%) Dividend Yield (%)
2014 A 2015 F 2016 F 2014 A 2015 F 2016 F 2014 A 2015 F 2016 F
Folkestone Education Trust (FET) $553M 0.2355 0.0000 0.0000 8.0616 0.0000 0.0000 5.33% 0.00% 0.00%
Hotel Property Investments (HPI) $380M 0.0000 -0.6189 0.0958 5.8257 15.2851 13.9485 3.38% 6.27% 7.00%
ALE Property (LEP) $714M -0.3299 0.4882 0.0476 39.1631 26.3158 25.1204 4.51% 4.60% 4.70%
National Storage REIT (NSR) $554M 0.0000 0.0000 0.1807 0.0000 20.2076 17.1148 2.30% 4.95% 5.26%

Financial Summary

Earnings P/E Ratio P/B Ratio P/E Growth
Company 2.52 26.30 1.89 1.06
Market 0.89 16.40 1.32 1.33
Sector 1.55 15.00 1.17 2.20


Name Position Start Date
Mr James T McNally Executive Director 26/06/2003
Mr Andrew Frederick Osborne Wilkinson Managing Director 16/11/2004
Mr Peter Hastings Warne Non-Executive Chairman, Non-Executive Director 08/09/2003
Ms Helen I Wright Non-Executive Director 08/09/2003
Ms Nancy Jane Milne Non-Executive Director 06/02/2015
Ms Phillipa (Pippa) Downes Non-Executive Director 26/11/2013
Mr Paul Say Non-Executive Director 24/09/2014


Name Position
D J Shipway Asset Manager
A J Slade Capital Manager
Brendan Howell Company Secretary
M J Clarke Finance Manager

Substantial Shareholders

Holding Name
43,487,908 (22.22%) Caledonia (Private) Investments Pty Limited & its Associates
23,453,125 (11.98%) Allan Gray Australia Pty Ltd
17,076,936 (8.73%) WoolWorths Limited and Associates

Calendar of Events

Date Event
04 February 2016 Report (Interim)
25 September 2015 Report (Annual)
07 September 2015 Div Pay Date
05 August 2015 Report (Annual)
05 August 2015 Report (Prelim)
© 2011 Morningstar, Inc. All rights reserved. The data and content contained herein are not guaranteed to be accurate, complete or timely. Neither Morningstar, nor its affiliates nor their content providers will have any liability for use or distribution of any of this information. To the extent that any of the content above constitutes advice, it is general advice that has been prepared by Morningstar Australasia Pty Ltd ABN: 95 090 665 544, AFSL: 240892 (a subsidiary of Morningstar, Inc.), without reference to your objectives, financial situation or needs. Before acting on any advice, you should consider the appropriateness of the advice and we recommend you obtain financial, legal and taxation advice before making any financial investment decision. If applicable investors should obtain the relevant product disclosure statement and consider it before making any decision to invest. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). DISCLOSURE: Employees may have an interest in the securities discussed in this report. Please refer to our Financial Services Guide (FSG) for more information at www.morningstar.com.au/fsg.asp.