Real Estate & Financial Services Case Study
Situation
ICR was retained by REIT, who was dissatisfied with its valuation, shareholder base and did not understand the root causes of their equity underperformance.
Strategy & Tactics
To improve valuation, ICR established a plan that included evaluating the company’s investor materials and history from a communications perspective. Following this analysis, ICR initiated a perception study with a broad reach focused not only on current shareholders and coverage analysts, but also on non-holders to better ascertain the external opinion and insights on the company. Based on the results of these initial efforts, a plan was established to help the Company clearly define its competitive advantages and differentiate itself from it’s peers. A reinvigorated approach to creating materials for non-deal roadshows and quarterly calls was implemented, including the development of an ongoing Q&A document that was used to field investor’s questions. ICR also coordinated communication efforts with the firm’s analysts to ensure that financial models reflected a full understanding of the Company’s growth plans and that key messaging was understood.
Results
As a result of this fresh approach, which included targeted efforts to attract new sell-side coverage while broadens the Company’s shareholder base, the Company’s multiple has increased dramatically—with high praise bestowed on the management team for their changed communication efforts.