Declared Dividend • Jun 27
Dividend of ฿0.20 announced Shareholders will receive a dividend of ฿0.20. Ex-date: 7th July 2026 Payment date: 24th July 2026 Dividend yield will be 8.4%, which is about the same as the industry average. Reported Earnings • May 19
First quarter 2026 earnings: Revenues exceed analyst expectations First quarter 2026 results: Revenue: ฿705.7m (up 4.2% from 1Q 2025). Net income: ฿306.0m (down 26% from 1Q 2025). Profit margin: 43% (down from 61% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.1%. Revenue is forecast to grow 2.8% p.a. on average during the next 2 years, compared to a 2.5% growth forecast for the Retail REITs industry in Asia. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Declared Dividend • Apr 09
Dividend of ฿0.20 announced Shareholders will receive a dividend of ฿0.20. Ex-date: 10th April 2026 Payment date: 30th April 2026 Dividend yield will be 8.3%, which is about the same as the industry average. New Risk • Mar 09
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 3.8% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings are forecast to decline by an average of 3.8% per year for the foreseeable future. Reported Earnings • Mar 01
Full year 2025 earnings released Full year 2025 results: Revenue: ฿2.71b (up 73% from FY 2024). Net income: ฿1.37b (up 73% from FY 2024). Profit margin: 50% (in line with FY 2024). Declared Dividend • Mar 01
Dividend of ฿0.24 announced Shareholders will receive a dividend of ฿0.24. Ex-date: 11th March 2026 Payment date: 27th March 2026 Dividend yield will be 8.2%, which is about the same as the industry average. Declared Dividend • Dec 05
Dividend of ฿0.22 announced Shareholders will receive a dividend of ฿0.22. Ex-date: 15th December 2025 Payment date: 30th December 2025 Dividend yield will be 9.3%, which is higher than the industry average of 8.4%. Reported Earnings • Nov 15
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: ฿661.8m (up 87% from 3Q 2024). Net income: ฿458.5m (up 62% from 3Q 2024). Profit margin: 69% (down from 80% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Retail REITs industry in Asia. Declared Dividend • Oct 23
Dividend of ฿0.18 announced Shareholders will receive a dividend of ฿0.18. Ex-date: 31st October 2025 Payment date: 20th November 2025 Dividend yield will be 9.0%, which is higher than the industry average of 8.4%. Declared Dividend • Aug 17
Dividend of ฿0.18 announced Shareholders will receive a dividend of ฿0.18. Ex-date: 27th August 2025 Payment date: 12th September 2025 Dividend yield will be 9.2%, which is higher than the industry average of 8.4%. Reported Earnings • Aug 14
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: ฿660.8m (up 88% from 2Q 2024). Net income: ฿257.0m (up 68% from 2Q 2024). Profit margin: 39% (down from 44% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Retail REITs industry in Asia. Buy Or Sell Opportunity • Jun 05
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at ฿11.70. The fair value is estimated to be ฿14.65, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 39% over the last 3 years. Earnings per share has grown by 50%. Reported Earnings • May 17
First quarter 2025 earnings released First quarter 2025 results: Revenue: ฿677.4m (up 96% from 1Q 2024). Net income: ฿414.9m (up 153% from 1Q 2024). Profit margin: 61% (up from 48% in 1Q 2024). Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 3.5% growth forecast for the Retail REITs industry in Asia. Declared Dividend • Apr 03
Dividend of ฿0.18 announced Shareholders will receive a dividend of ฿0.18. Ex-date: 10th April 2025 Payment date: 30th April 2025 Dividend yield will be 8.8%, which is about the same as the industry average. Reported Earnings • Mar 02
Full year 2024 earnings: Revenues exceed analyst expectations Full year 2024 results: Revenue: ฿1.57b (up 24% from FY 2023). Net income: ฿789.1m (up 42% from FY 2023). Profit margin: 50% (up from 44% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 12%. Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 3.5% growth forecast for the Retail REITs industry in Asia. New Risk • Feb 02
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 59% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (59% increase in shares outstanding). Minor Risk Dividend is not well covered by cash flows (110% cash payout ratio). Declared Dividend • Nov 29
Dividend of ฿0.15 announced Shareholders will receive a dividend of ฿0.15. Ex-date: 9th December 2024 Payment date: 26th December 2024 Dividend yield will be 9.3%, which is higher than the industry average of 8.4%. Reported Earnings • Nov 16
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: ฿353.6m (up 8.7% from 3Q 2023). Net income: ฿283.3m (up 108% from 3Q 2023). Profit margin: 80% (up from 42% in 3Q 2023). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 30% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Retail REITs industry in Asia. Upcoming Dividend • Nov 04
Upcoming dividend of ฿0.17 per share Eligible shareholders must have bought the stock before 11 November 2024. Payment date: 22 November 2024. Trailing yield: 8.5%. Within top quartile of Thai dividend payers (6.5%). In line with average of industry peers (8.3%). Declared Dividend • Oct 18
Dividend of ฿0.17 announced Shareholders will receive a dividend of ฿0.17. Ex-date: 11th November 2024 Payment date: 22nd November 2024 Dividend yield will be 9.6%, which is higher than the industry average of 8.4%. Declared Dividend • Aug 17
Dividend of ฿0.18 announced Shareholders will receive a dividend of ฿0.18. Ex-date: 27th August 2024 Payment date: 12th September 2024 Dividend yield will be 11%, which is higher than the industry average of 8.4%. Reported Earnings • Aug 14
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: ฿351.4m (up 14% from 2Q 2023). Net income: ฿153.4m (up 8.5% from 2Q 2023). Profit margin: 44% (down from 46% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Retail REITs industry in Asia. Declared Dividend • Jun 28
Dividend of ฿0.18 announced Shareholders will receive a dividend of ฿0.18. Ex-date: 8th July 2024 Payment date: 25th July 2024 Dividend yield will be 11%, which is higher than the industry average of 8.4%. Reported Earnings • May 17
First quarter 2024 earnings released First quarter 2024 results: Revenue: ฿344.9m (up 21% from 1Q 2023). Net income: ฿164.1m (up 26% from 1Q 2023). Profit margin: 48% (up from 46% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Retail REITs industry in Asia. Announcement • Apr 25
LH Shopping Centers Leasehold Real Estate Investment Trust has filed a Follow-on Equity Offering. LH Shopping Centers Leasehold Real Estate Investment Trust has filed a Follow-on Equity Offering.
Security Name: Trust Units
Security Type: Common Stock
Securities Offered: 345,000,000
Security Features: Income Trust
Transaction Features: Rights Offering Declared Dividend • Mar 28
Dividend of ฿0.17 announced Shareholders will receive a dividend of ฿0.17. Ex-date: 4th April 2024 Payment date: 24th April 2024 Dividend yield will be 9.8%, which is higher than the industry average of 8.4%. Upcoming Dividend • Mar 04
Upcoming dividend of ฿0.20 per share Eligible shareholders must have bought the stock before 11 March 2024. Payment date: 28 March 2024. Trailing yield: 5.0%. Lower than top quartile of Thai dividend payers (6.3%). Lower than average of industry peers (8.3%). Reported Earnings • Mar 01
Full year 2023 earnings released Full year 2023 results: Revenue: ฿1.26b (up 56% from FY 2022). Net income: ฿554.2m (up 92% from FY 2022). Profit margin: 44% (up from 36% in FY 2022). The increase in margin was driven by higher revenue. Announcement • Feb 29
Lh Shopping Centers Leasehold Real Estate Investment Trust Announces Dividend for the Period from November 1, 2023 to December 31, 2023, Payable on March 28, 2024 The distributed payment of LH Shopping Centers Leasehold Real Estate Investment Trust is for the operation period from November 1, 2023 to December 31, 2023 at the rate of THB 0.2050 per unit. The payment date will be on March 28, 2024. Announcement • Dec 01
LH Shopping Centers Leasehold Real Estate Investment Trust Announces Dividend for the Operation Period from September 1, 2023 to October 31, 2023, Payable on December 28, 2023 Land and Houses Fund Management Co. Ltd. as the REIT Manager of LH Shopping Centers Leasehold Real Estate Investment Trust (LHSC) would like to inform the Distributed payment of LHSC and book closing date with details as follows: The Distributed payment of LH Shopping Centers Leasehold Real Estate Investment Trust (LHSC) is for the operation period from September 1, 2023 to October 31, 2023 at the rate of THB 0.1650 per unit. The payment date will be on December 28, 2023. The book closing date for determine the right of unitholders to receive the Distributed payment will be on December 15, 2023. Reported Earnings • Nov 14
Third quarter 2023 earnings released: EPS: ฿0.28 (vs ฿0.004 in 3Q 2022) Third quarter 2023 results: EPS: ฿0.28 (up from ฿0.004 in 3Q 2022). Revenue: ฿325.2m (up 47% from 3Q 2022). Net income: ฿136.3m (up ฿134.4m from 3Q 2022). Profit margin: 42% (up from 0.9% in 3Q 2022). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Upcoming Dividend • Nov 03
Upcoming dividend of ฿0.16 per share at 5.0% yield Eligible shareholders must have bought the stock before 10 November 2023. Payment date: 29 November 2023. Trailing yield: 5.0%. Lower than top quartile of Thai dividend payers (6.9%). Lower than average of industry peers (9.5%). Announcement • Nov 01
LH Shopping Centers Leasehold Real Estate Investment Trust Announces Dividend for the Operation Period from July 1, 2023 to August 31, 2023, Payable on November 29, 2023 Land and Houses Fund Management Co. Ltd. as the REIT Manager of LH Shopping Centers Leasehold Real Estate Investment Trust (LHSC) informed the Distributed payment of LHSC and book closing date with details as follows: The Distributed payment of LH Shopping Centers Leasehold Real Estate Investment Trust (LHSC) is for the operation period from July 1, 2023 to August 31, 2023 at the rate of THB 0.1600 per unit. The payment date will be on November 29, 2023. 2The book closing date for determine the right of unitholders to receive the Distributed payment will be on November 14, 2023. Reported Earnings • Aug 17
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: ฿309.5m (up 73% from 2Q 2022). Net income: ฿141.4m (up 89% from 2Q 2022). Profit margin: 46% (up from 42% in 2Q 2022). The increase in margin was driven by higher revenue. Upcoming Dividend • Aug 15
Upcoming dividend of ฿0.15 per share at 4.6% yield Eligible shareholders must have bought the stock before 22 August 2023. Payment date: 07 September 2023. Trailing yield: 4.6%. Lower than top quartile of Thai dividend payers (6.4%). Lower than average of industry peers (8.3%). Upcoming Dividend • Jun 29
Upcoming dividend of ฿0.13 per share at 4.5% yield Eligible shareholders must have bought the stock before 06 July 2023. Payment date: 25 July 2023. Trailing yield: 4.5%. Lower than top quartile of Thai dividend payers (6.6%). Lower than average of industry peers (8.3%). Announcement • Jun 28
LH Shopping Centers Leasehold Real Estate Investment Trust Announces Cash Dividend, Payable on July 25, 2023 LH Shopping Centers Leasehold Real Estate Investment Trust announced cash dividend of THB 0.1300 per share, payable on July 25, 2023 and ex dividend date of July 6, 2023. Reported Earnings • May 19
First quarter 2023 earnings released First quarter 2023 results: Revenue: ฿284.4m (up 104% from 1Q 2022). Net income: ฿130.2m (up 119% from 1Q 2022). Profit margin: 46% (up from 43% in 1Q 2022). The increase in margin was driven by higher revenue. Upcoming Dividend • Apr 04
Upcoming dividend of ฿0.13 per share at 3.9% yield Eligible shareholders must have bought the stock before 11 April 2023. Payment date: 27 April 2023. Trailing yield: 3.9%. Lower than top quartile of Thai dividend payers (5.9%). Lower than average of industry peers (6.9%). Upcoming Dividend • Mar 01
Upcoming dividend of ฿0.11 per share at 2.0% yield Eligible shareholders must have bought the stock before 08 March 2023. Payment date: 23 March 2023. Trailing yield: 2.0%. Lower than top quartile of Thai dividend payers (5.6%). Lower than average of industry peers (6.5%). Valuation Update With 7 Day Price Move • Jan 19
Investor sentiment improved over the past week After last week's 19% share price gain to ฿13.40, the stock trades at a trailing P/E ratio of 32x. Average trailing P/E is 13x in the REITs industry in Thailand. Total loss to shareholders of 23% over the past three years. Upcoming Dividend • Dec 14
Upcoming dividend of ฿0.09 per share Eligible shareholders must have bought the stock before 21 December 2022. Payment date: 29 December 2022. Trailing yield: 2.5%. Lower than top quartile of Thai dividend payers (5.6%). Lower than average of industry peers (5.9%). Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. No highly experienced directors. No independent directors (10 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Upcoming Dividend • Nov 01
Upcoming dividend of ฿0.07 per share Eligible shareholders must have bought the stock before 08 November 2022. Payment date: 24 November 2022. Trailing yield: 2.4%. Lower than top quartile of Thai dividend payers (5.6%). Lower than average of industry peers (5.7%). Upcoming Dividend • Aug 31
Upcoming dividend of ฿0.05 per share Eligible shareholders must have bought the stock before 07 September 2022. Payment date: 22 September 2022. Trailing yield: 2.2%. Lower than top quartile of Thai dividend payers (5.5%). Lower than average of industry peers (5.4%). Reported Earnings • Aug 14
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: ฿179.0m (up 125% from 2Q 2021). Net income: ฿74.8m (up 168% from 2Q 2021). Profit margin: 42% (up from 35% in 2Q 2021). Upcoming Dividend • Jun 27
Upcoming dividend of ฿0.12 per share Eligible shareholders must have bought the stock before 04 July 2022. Payment date: 20 July 2022. Trailing yield: 2.4%. Lower than top quartile of Thai dividend payers (5.4%). Lower than average of industry peers (5.4%). Announcement • Jun 23
LH Shopping Centers Leasehold Real Estate Investment Trust Announces Dividend for the Quarter Ended April 30, 2022, Payable on July 20, 2022 LH Shopping Centers Leasehold Real Estate Investment Trust announced dividend for the quarter ended April 30, 2022 at the rate of THB 0.1200 per unit. The payment date will be on July 20, 2022. The book Closing date for determine the right of unit holders to receive dividend will be on July 6, 2022. Reported Earnings • May 19
First quarter 2022 earnings released First quarter 2022 results: Revenue: ฿139.4m (up 7.0% from 1Q 2021). Net income: ฿59.5m (up 38% from 1Q 2021). Profit margin: 43% (up from 33% in 1Q 2021). Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. No independent directors (9 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Apr 07
LH Shopping Centers Leasehold Real Estate Investment Trust, Annual General Meeting, Apr 28, 2022 LH Shopping Centers Leasehold Real Estate Investment Trust, Annual General Meeting, Apr 28, 2022, at 13:00 SE Asia Standard Time. Reported Earnings • Nov 18
Third quarter 2021 earnings released The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: ฿53.1m (down 63% from 3Q 2020). Net loss: ฿141.8m (down 240% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS ฿0.057 (vs ฿0.20 loss in 2Q 2020) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: ฿79.7m (down 25% from 2Q 2020). Net income: ฿27.9m (up ฿123.3m from 2Q 2020). Profit margin: 35% (up from net loss in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Jun 29
Upcoming dividend of ฿0.05 per share Eligible shareholders must have bought the stock before 06 July 2021. Payment date: 22 July 2021. Trailing yield: 2.2%. Lower than top quartile of Thai dividend payers (4.8%). Lower than average of industry peers (5.3%). Reported Earnings • May 17
First quarter 2021 earnings released The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: ฿130.3m (down 51% from 1Q 2020). Net income: ฿43.0m (down 64% from 1Q 2020). Profit margin: 33% (down from 45% in 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Feb 20
New 90-day low: ฿10.40 The company is down 9.0% from its price of ฿11.40 on 20 November 2020. The Thai market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the REITs industry, which is down 7.0% over the same period. Is New 90 Day High Low • Feb 04
New 90-day low: ฿10.60 The company is down 3.0% from its price of ฿10.90 on 06 November 2020. The Thai market is up 18% over the last 90 days, indicating the company underperformed over that time. It also underperformed the REITs industry, which is down 1.0% over the same period. Is New 90 Day High Low • Dec 16
New 90-day high: ฿12.30 The company is up 3.0% from its price of ฿12.00 on 16 September 2020. The Thai market is up 15% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the REITs industry, which is down 5.0% over the same period. Upcoming Dividend • Dec 11
Upcoming Dividend of ฿0.10 Per Share Will be paid on the 30th of December to those who are registered shareholders by the 18th of December. The trailing yield of 8.4% is in the top quartile of Thai dividend payers (6.4%), and it is higher than industry peers (6.5%). Reported Earnings • Nov 17
Third quarter 2020 earnings released: EPS ฿0.21 The company reported a soft third quarter result with weaker earnings and revenues, although profit margins were improved. Third quarter 2020 results: Revenue: ฿144.4m (down 57% from 3Q 2019). Net income: ฿101.2m (down 42% from 3Q 2019). Profit margin: 70% (up from 52% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 7% per year. 
