Our analysis is based on comparing Tiptree, Inc. with the following peers – Ashford Hospitality Trust, Inc., HCP, Inc., Ventas, Inc., Universal Health Realty Income Trust, Welltower, Inc., Gyrodyne LLC, Sabra Health Care REIT, Inc., Duke Realty Corporation, CIM Commercial Trust Corporation and Healthcare Trust of America, Inc. Class A (AHT-US, HCP-US, VTR-US, UHT-US, HCN-US, GYRO-US, SBRA-US, DRE-US, CMCT-US and HTA-US).
Tiptree, Inc.’s dividend yield is 2.07 percent and its dividend payout is -465.59 percent. This compares to a peer average dividend yield of 4.81 percent and a payout level of 118.30 percent. This relatively lagging dividend performance could spur some dividend action going forward – as long as the company’s relatively strong dividend quality score of 75 out of a possible score of 100 looks sustainable.
Dividend Quality Overview
- Over the last twelve months (prior to September 30, 2017), TIPT-US paid a high quality dividend, which represents a yield of 1.64% at the current price.
- Dividend quality trend has not been consistent over the last five years. Dividends were paid during each of these years — of these 3 were medium quality and 2 were low quality.
- The ending cash balance, with a dividend coverage of 47.01x, provides a substantial cushion in case of a significant reduction of cash flows in the future.
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Over the last twelve months (prior to September 30, 2017), TIPT-US paid a high quality dividend.
The source of the company’s cash to support the dividend paid over the last twelve months is operating cash flow (coverage of -7.38x), investing cash flow (coverage of 72.68x), issuance cash flow (coverage of -50.09x) and twelve-month prior cash (coverage of 41.39x), for a total dividend coverage of 48.01x.
These coverage ratio factors imply that the firm’s dividends are wholly paid from operating and investing cash flows net of any debt repayments, which suggests a high dividend quality.
|Dividend Yield (%)||7.26||0.47||0.14||1.55||1.83||2.07|
|Dividend Payout (%)||-1080||-8.09||0||-33.74||12.8||-465.59|
A complete list of metrics and analysis is available on the company page.
Tiptree, Inc. operates as a holding company, through its subsidiaries engages in specialty insurance, asset management, senior living, and specialty finance businesses. Its insurance subsidiary, Fortegra Financial Corp., is a provider of credit, warranty, and niche program insurance products. The company’s asset management subsidiary, Tiptree Asset Management Co., specializes in managing credit related assets and CLOs. The senior living operations are conducted through Care Investment Trust, which focuses on the acquisition, ownership and leasing of senior housing properties. The specialty finance activities consists of mortgage origination operations and a controlling interest in a company that provides asset based loans. The company is headquartered in New York, NY. For more information visit www.tiptreeinc.com.
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