SGX:P40URetail REITs
Starhill Global REIT (SGX:P40U) Stock Premium Looks Fragile After Margin Compression
Starhill Global Real Estate Investment Trust slipped into today’s close at SGD0.555 after a muted week, yet the latest numbers tell a more complicated story than the share price suggests. The headline is pressure on profitability. Reported net profit margin for the past year sat at 23.4% compared with 56.7% a year earlier, weighed down by a one off loss of SGD45.6m and leaving a P/E of 28.6x that screens richer than many Asian retail REIT peers. The market is reacting to that squeeze, while...