DB:P3G

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Suntec Real Estate Investment Trust

Executive Summary

Suntec REIT is managed by ARA Trust Management (Suntec) Limited, a wholly-owned subsidiary of ARA Asset Management Limited (“ARA” or the “Group”).


Snowflake Analysis

Average dividend payer and fair value.


Similar Companies

Share Price & News

How has Suntec Real Estate Investment Trust's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: P3G has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-3.7%

P3G

0.1%

DE REITs

1.5%

DE Market


1 Year Return

-29.4%

P3G

9.6%

DE REITs

-1.8%

DE Market

Return vs Industry: P3G underperformed the German REITs industry which returned 10.7% over the past year.

Return vs Market: P3G underperformed the German Market which returned -0.7% over the past year.


Shareholder returns

P3GIndustryMarket
7 Day-3.7%0.1%1.5%
30 Day-2.4%2.0%4.3%
90 Day21.9%15.5%25.1%
1 Year-25.9%-29.4%10.2%9.6%0.2%-1.8%
3 Year-9.1%-22.5%-1.7%-14.2%1.3%-6.9%
5 Year6.3%-19.8%9.9%-12.5%15.0%-0.2%

Price Volatility Vs. Market

How volatile is Suntec Real Estate Investment Trust's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Suntec Real Estate Investment Trust undervalued compared to its fair value and its price relative to the market?

16.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: P3G (€0.9) is trading below our estimate of fair value (€1.07)

Significantly Below Fair Value: P3G is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: P3G is poor value based on its PE Ratio (10.1x) compared to the REITs industry average (8.9x).

PE vs Market: P3G is good value based on its PE Ratio (10.1x) compared to the German market (20.7x).


Price to Earnings Growth Ratio

PEG Ratio: P3G's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: P3G is good value based on its PB Ratio (0.7x) compared to the DE REITs industry average (1.5x).


Next Steps

Future Growth

How is Suntec Real Estate Investment Trust forecast to perform in the next 1 to 3 years based on estimates from 14 analysts?

-20.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: P3G's earnings are forecast to decline over the next 3 years (-20.1% per year).

Earnings vs Market: P3G's earnings are forecast to decline over the next 3 years (-20.1% per year).

High Growth Earnings: P3G's earnings are forecast to decline over the next 3 years.

Revenue vs Market: P3G's revenue is expected to decline over the next 3 years (-8.1% per year).

High Growth Revenue: P3G's revenue is forecast to decline over the next 3 years (-8.1% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: P3G's Return on Equity is forecast to be low in 3 years time (3.6%).


Next Steps

Past Performance

How has Suntec Real Estate Investment Trust performed over the past 5 years?

-3.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: P3G has a large one-off gain of SGD154.4M impacting its December 31 2009 financial results.

Growing Profit Margin: P3G's current net profit margins (74.5%) are higher than last year (65.1%).


Past Earnings Growth Analysis

Earnings Trend: P3G's earnings have declined by -3.3% per year over the past 5 years.

Accelerating Growth: P3G's earnings growth over the past year (27.1%) exceeds its 5-year average (-3.3% per year).

Earnings vs Industry: P3G earnings growth over the past year (27.1%) exceeded the REITs industry 25.3%.


Return on Equity

High ROE: P3G's Return on Equity (6.5%) is considered low.


Next Steps

Financial Health

How is Suntec Real Estate Investment Trust's financial position?


Financial Position Analysis

Short Term Liabilities: P3G's short term assets (SGD194.2M) do not cover its short term liabilities (SGD758.7M).

Long Term Liabilities: P3G's short term assets (SGD194.2M) do not cover its long term liabilities (SGD3.2B).


Debt to Equity History and Analysis

Debt Level: P3G's debt to equity ratio (59.5%) is considered high.

Reducing Debt: P3G's debt to equity ratio has increased from 55% to 59.5% over the past 5 years.

Debt Coverage: P3G's debt is not well covered by operating cash flow (6.3%).

Interest Coverage: P3G's interest payments on its debt are well covered by EBIT (4.3x coverage).


Balance Sheet


Next Steps

Dividend

What is Suntec Real Estate Investment Trust current dividend yield, its reliability and sustainability?

6.65%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: P3G's dividend (6.65%) is higher than the bottom 25% of dividend payers in the German market (1.28%).

High Dividend: P3G's dividend (6.65%) is in the top 25% of dividend payers in the German market (3.82%)


Stability and Growth of Payments

Stable Dividend: P3G's dividends per share have been stable in the past 10 years.

Growing Dividend: P3G's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (115.9%), P3G's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: P3G's dividends in 3 years are forecast to be thoroughly covered by earnings (0.04% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.3yrs

Average management tenure


CEO

Kee Hiong Chong

1.5yrs

Tenure

Mr. Chong Kee Hiong is the Chief Executive Officer and Executive Director of ARA Trust Management (Suntec) Limited (as manager of Suntec Real Estate Investment Trust) since December 31, 2018.Mr Chong Kee H ...


Leadership Team

NamePositionTenureCompensationOwnership
Kee Hiong Chong
CEO & Executive Director of ARA Trust Management (Suntec) Limited1.5yrsno datano data
Ee Ng
Finance Director of ARA Trust Management (Suntec) Limited3.33yrsno datano data
Dawn Lai
Chief Operating Officer of ARA Trust Management (Suntec) Limited1.75yrsno datano data
Melissa Chow
Manager of Investor Relations - ARA Trust Management (Suntec) Limited9.5yrsno datano data
Kok Lum
Chief Executive officer of Suntec City Development Pte Ltdno datano datano data
Kar Choo Yeoh
Company Secretary of ARA Trust Management (Suntec) Limitedno datano datano data
Wai Chiang
Company Secretary of ARA Trust Management (Suntec) Limitedno datano datano data
Kar Tung Quek
Director of Business Development of the ARA Group15.08yrsno datano data
Soon Siew Chiam
Secretary & Director of Legal & Corporate Affairs - Suntec City Development Pte Ltdno datano datano data
Keng Tay
Acting Financial Controller of Suntec City Development Pte Ltdno datano datano data

3.3yrs

Average Tenure

Experienced Management: P3G's management team is considered experienced (3.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Kee Hiong Chong
CEO & Executive Director of ARA Trust Management (Suntec) Limited1.5yrsno datano data
Pee Teck Chan
Independent Non-Executive Director ARA Trust Management (Suntec) Limited3.5yrsS$80.00kno data
Wai-Wai Chow
Non-Executive Director of ARA Trust Management (Suntec) Limited13yrsS$60.00k0.071% SGD1.8m
Gek Khim Chew
Non-Executive Chairman of ARA Trust Management (Suntec) Limited6.25yrsS$120.00kno data
Hwee Chiang Lim
Non-Executive Director of ARA Trust Management (Suntec) Limited15.92yrsS$60.00k0.14% SGD3.6m
Wai Han Lock
Independent Non-Executive Director of ARA Trust Management (Suntec) Limited1.92yrsS$80.00kno data
Yee Yu-Foo
Independent Non-Executive Director of ARA Trust Management (Suntec) Limited3.5yrsS$80.00kno data
Chee Meng Yap
Lead Independent Non-Executive Director of ARA Trust Management (Suntec) Limited1.25yrsS$69.59kno data

3.5yrs

Average Tenure

63yo

Average Age

Experienced Board: P3G's board of directors are considered experienced (3.5 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: P3G insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Suntec Real Estate Investment Trust's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Suntec Real Estate Investment Trust
  • Ticker: P3G
  • Exchange: DB
  • Founded: 2004
  • Industry: Diversified REITs
  • Sector: Real Estate
  • Market Cap: S$4.027b
  • Listing Market Cap: S$2.566b
  • Shares outstanding: 2.82b
  • Website: https://www.suntecreit.com

Location

  • Suntec Real Estate Investment Trust
  • 5 Temasek Boulevard
  • #12-01
  • Singapore
  • 38985
  • Singapore

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
T82USGX (Singapore Exchange)YesUNITSSGSGDDec 2004
P3GDB (Deutsche Boerse AG)YesUNITSDEEURDec 2004
SURV.FOTCPK (Pink Sheets LLC)YesUNITSUSUSDDec 2004

Biography

Suntec REIT is managed by ARA Trust Management (Suntec) Limited, a wholly-owned subsidiary of ARA Asset Management Limited (“ARA” or the “Group”). ARA is a leading APAC real assets fund manager with a global reach. With S$88 billion1 in gross assets under management as at 31 December 2019, ARA manages listed and unlisted real estate investment trusts (REITs) and private real estate and infrastructure funds in 28 countries. As part of its investor-operator philosophy, ARA also operates a real estate management services division with local teams to manage its assets worldwide. ARA’s multi-platform, multi-product global fund management strategy, combined with its dedicated teams with in-depth local knowledge and expertise, enables the Group to offer enduring value to investors. Built on a foundation of strong corporate governance and business integrity, ARA counts some of the world’s largest pension funds, sovereign wealth funds, financial institutions, endowments and family offices as its investors. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/01 21:35
End of Day Share Price2020/07/01 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.