Capital Properties
Through the investors’ lenses
2 of 2 cleared2 of 2 criteria
Each of these investors has said in public what they look at before buying. Click a name to see how this company measures up — a tick where it passes one of their tests, a cross where it does not.
Warren Buffett 1/1
| Measure | CPTP | Checked against | |
|---|---|---|---|
| Owner earnings | — | positive | — |
| Return on equity | 25.9% | US median 2.8% | ✓ |
| Debt to equity | — | US median 0.57x | — |
| Operating margin | — | US median 3.1% | — |
Passes 1 of 1. These are the measures Warren Buffett published, applied to Capital Properties’s own figures — their criteria, not their view of this company. What he looks at, and why →
Benjamin Graham 1/1
| Measure | CPTP | Checked against | |
|---|---|---|---|
| Current ratio | — | 2.00x published | — |
| Long-term debt to working capital | — | 1.00x published | — |
| Positive earnings, ten years running | 10 yrs | 10 published | ✓ |
Passes 1 of 1. These are the measures Benjamin Graham published, applied to Capital Properties’s own figures — their criteria, not their view of this company. What he looks at, and why →
Last usable year: 2024-12-31 — 20 months ago. Nothing filed since gives the figures a payout ratio needs. For a company that once paid, that usually means it stopped.
| Basis | Payout | Why |
|---|---|---|
| GAAP earnings | 93.3% | whyDepressed by depreciation on buildings that are not losing value. |
| Operating cash flow | 74.6% | whyBefore capital spending. |
| Funds from operations | 88.5% | whyThe industry's basis — adds that depreciation back. |
No free cash flow figure is shown. This company does not report the inputs for it in its XBRL filings — capital expenditure, in particular, is often folded into a single investing total rather than tagged on its own. The figure is absent from the filings, not zero, and inventing one from a balance-sheet movement would be a guess dressed as a measurement.
Spread between highest and lowest: 18.7 percentage points. Same filings, different denominators.
Coverage rating 63 / 100 — Adequate. ? Peer standing 22/50Direction 25/30Stability 16/20
Funds from operations payout, last 6 years
| Fiscal year | Payout |
|---|---|
| 2024-12-31 | 88.5% |
| 2023-12-31 | 76.6% |
| 2022-12-31 | 98.7% |
| 2021-12-31 | 96.0% |
| 2020-12-31 | 66.8% |
| 2019-12-31 | 114.9% |
45% of the 47 real estate here pay out more.
The arithmetic
- GAAP earnings — dividends declared per share $0.280 ÷ diluted EPS $0.300
- Operating cash flow — dividends paid $1.85m ÷ operating cash flow $2.48m
- Funds from operations — dividends declared per share $0.280 ÷ derived FFO $0.317 per share
- FFO built NAREIT-style: net income, plus real-estate depreciation, less gains on sale, over weighted-average diluted shares
- This is an approximation. Every REIT defines its own adjusted variant in the filing text, so it will not match the earnings release exactly
Where the figures came from
- 10-K filed 2025-02-07 · accession 0000950170-25-016420
Every one is public at sec.gov and free to check. That is the point — you should not have to take our word for any of it.
Caveats on this company
- DPS derived from dividends paid ($0.28); no per-share tag filed
- FFO derived (NAREIT approximation)
Computed by an open pipeline reading SEC XBRL directly. If any number here looks wrong to you, tell us — that is more useful to us than agreement.
What the funds from operations payout ratio measures, and where every company here sits on it.
Also on: rated adequate · when it files.
Who else looks like this
Every figure above is computed from Capital Properties’s own filing, and every company here is measured the same way. Screen all of them on any of these twelve measures, or on the rules four investors published — free, and nothing you screen leaves your browser.
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