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Regal Real Estate Investment Trust

SEHK:1881
Snowflake Description

Average dividend payer and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
1881
SEHK
HK$8B
Market Cap
  1. Home
  2. HK
  3. Real Estate
Company description

Regal REIT is a Hong Kong collective investment scheme authorised under section 104 of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) and its Units were listed on The Stock Exchange of Hong Kong Limited on 30th March, 2007. The last earnings update was 103 days ago. More info.


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1881 Share Price and Events
7 Day Returns
-2.4%
SEHK:1881
-1.3%
HK REITs
-0.7%
HK Market
1 Year Returns
3.9%
SEHK:1881
19.6%
HK REITs
-5.7%
HK Market
1881 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Regal Real Estate Investment Trust (1881) -2.4% -0.8% -3.2% 3.9% 15.9% 12.2%
HK REITs -1.3% 0.3% 4.6% 19.6% 47.5% 78.7%
HK Market -0.7% -0.9% -8.1% -5.7% 16.3% -0.3%
1 Year Return vs Industry and Market
  • 1881 underperformed the REITs industry which returned 19.6% over the past year.
  • 1881 outperformed the Market in Hong Kong which returned -5.7% over the past year.
Price Volatility
1881
Industry
5yr Volatility vs Market

Value

 Is Regal Real Estate Investment Trust undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Regal Real Estate Investment Trust to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Regal Real Estate Investment Trust.

SEHK:1881 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.3%
Perpetual Growth Rate 10-Year HK Government Bond Rate 2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for SEHK:1881
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6.7%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.47
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.475 (1 + (1- 25%) (126.28%))
0.949
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.95
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (0.949 * 6.65%)
8.32%

Discounted Cash Flow Calculation for SEHK:1881 using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model

The calculations below outline how an intrinsic value for Regal Real Estate Investment Trust is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Regal Real Estate Investment Trust is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

SEHK:1881 DCF 1st Stage: Next 10 year cash flow forecast
Adjusted Funds From Operations (AFFO) (HKD, Millions) Source Present Value
Discounted (@ 8.32%)
2020 417.00 Analyst x1 384.99
2021 443.37 Est @ 6.32% 377.91
2022 465.66 Est @ 5.03% 366.44
2023 484.85 Est @ 4.12% 352.25
2024 501.75 Est @ 3.49% 336.54
2025 517.01 Est @ 3.04% 320.16
2026 531.12 Est @ 2.73% 303.65
2027 544.45 Est @ 2.51% 287.38
2028 557.30 Est @ 2.36% 271.57
2029 569.85 Est @ 2.25% 256.37
Present value of next 10 years cash flows HK$3,257.26
SEHK:1881 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= HK$569.85 × (1 + 2%) ÷ (8.32% – 2%)
HK$9,208.74
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$9,208.74 ÷ (1 + 8.32%)10
HK$4,142.97
SEHK:1881 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$3,257.26 + HK$4,142.97
HK$7,400.23
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$7,400.23 / 3,257.43
HK$2.27
SEHK:1881 Discount to Share Price
Calculation Result
Value per share (HKD) From above. HK$2.27
Current discount Discount to share price of HK$2.40
= -1 x (HK$2.40 - HK$2.27) / HK$2.27
-5.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Regal Real Estate Investment Trust is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Regal Real Estate Investment Trust's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Regal Real Estate Investment Trust's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:1881 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in HKD HK$0.69
SEHK:1881 Share Price ** SEHK (2019-07-23) in HKD HK$2.4
Hong Kong REITs Industry PE Ratio Median Figure of 9 Publicly-Listed REITs Companies 10.04x
Hong Kong Market PE Ratio Median Figure of 1,512 Publicly-Listed Companies 10.66x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Regal Real Estate Investment Trust.

SEHK:1881 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:1881 Share Price ÷ EPS (both in HKD)

= 2.4 ÷ 0.69

3.47x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Regal Real Estate Investment Trust is good value based on earnings compared to the HK REITs industry average.
  • Regal Real Estate Investment Trust is good value based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Regal Real Estate Investment Trust's expected growth come at a high price?
Raw Data
SEHK:1881 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 3.47x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
-79.2%per year
Hong Kong REITs Industry PEG Ratio Median Figure of 6 Publicly-Listed REITs Companies -0.1x
Hong Kong Market PEG Ratio Median Figure of 481 Publicly-Listed Companies 0.8x

*Line of best fit is calculated by linear regression .

SEHK:1881 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 3.47x ÷ -79.2%

-0.04x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Regal Real Estate Investment Trust earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Regal Real Estate Investment Trust's assets?
Raw Data
SEHK:1881 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in HKD HK$5.32
SEHK:1881 Share Price * SEHK (2019-07-23) in HKD HK$2.4
Hong Kong REITs Industry PB Ratio Median Figure of 9 Publicly-Listed REITs Companies 0.61x
Hong Kong Market PB Ratio Median Figure of 2,198 Publicly-Listed Companies 0.92x
SEHK:1881 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:1881 Share Price ÷ Book Value per Share (both in HKD)

= 2.4 ÷ 5.32

0.45x

* Primary Listing of Regal Real Estate Investment Trust.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Regal Real Estate Investment Trust is good value based on assets compared to the HK REITs industry average.
X
Value checks
We assess Regal Real Estate Investment Trust's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Regal Real Estate Investment Trust has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Regal Real Estate Investment Trust expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-79.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Regal Real Estate Investment Trust expected to grow at an attractive rate?
  • Regal Real Estate Investment Trust's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2%.
Growth vs Market Checks
  • Regal Real Estate Investment Trust's earnings are expected to decrease over the next 1-3 years, this is below the Hong Kong market average.
  • Regal Real Estate Investment Trust's revenue growth is positive but not above the Hong Kong market average.
Annual Growth Rates Comparison
Raw Data
SEHK:1881 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:1881 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts -79.2%
SEHK:1881 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 2.9%
Hong Kong REITs Industry Earnings Growth Rate Market Cap Weighted Average -37.1%
Hong Kong REITs Industry Revenue Growth Rate Market Cap Weighted Average 6.5%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.4%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.6%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
SEHK:1881 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:1881 Future Estimates Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 1,085 840 523 2
2019-12-31 1,094 802 496 1
SEHK:1881 Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-12-31 1,022 504 2,252
2018-09-30 1,005 487 1,958
2018-06-30 989 469 1,664
2018-03-31 973 481 2,076
2017-12-31 958 493 2,488
2017-09-30 959 520 2,246
2017-06-30 960 547 2,003
2017-03-31 967 552 1,283
2016-12-31 973 556 564
2016-09-30 979 562 371
2016-06-30 985 568 178
2016-03-31 994 584 -675

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Regal Real Estate Investment Trust's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Regal Real Estate Investment Trust's revenue is expected to grow by 2.9% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
SEHK:1881 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Regal Real Estate Investment Trust Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:1881 Future Estimates Data
Date (Data in HKD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 0.16 0.16 0.16 1.00
2019-12-31 0.15 0.15 0.15 1.00
SEHK:1881 Past Financials Data
Date (Data in HKD Millions) EPS *
2018-12-31 0.69
2018-09-30 0.60
2018-06-30 0.51
2018-03-31 0.64
2017-12-31 0.76
2017-09-30 0.69
2017-06-30 0.61
2017-03-31 0.39
2016-12-31 0.17
2016-09-30 0.11
2016-06-30 0.05
2016-03-31 -0.21

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Regal Real Estate Investment Trust is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Regal Real Estate Investment Trust's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Hong Kong market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Hong Kong market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Regal Real Estate Investment Trust has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

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

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Regal Real Estate Investment Trust's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Regal Real Estate Investment Trust has delivered over 20% year on year earnings growth in the past 5 years.
  • Regal Real Estate Investment Trust's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Regal Real Estate Investment Trust's 1-year earnings growth is negative, it can't be compared to the HK REITs industry average.
Earnings and Revenue History
Regal Real Estate Investment Trust's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Regal Real Estate Investment Trust Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:1881 Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 1,021.94 2,251.66 17.31
2018-09-30 1,005.40 1,957.71 20.08
2018-06-30 988.86 1,663.77 22.85
2018-03-31 973.32 2,076.05 23.61
2017-12-31 957.77 2,488.33 24.38
2017-09-30 958.73 2,245.58 21.18
2017-06-30 959.69 2,002.83 17.99
2017-03-31 966.59 1,283.40 14.35
2016-12-31 973.48 563.98 10.71
2016-09-30 979.45 370.82 9.83
2016-06-30 985.42 177.67 8.95
2016-03-31 993.57 -675.08 9.52
2015-12-31 1,001.72 -1,527.82 10.08
2015-09-30 1,012.07 -1,492.91 12.09
2015-06-30 1,022.42 -1,458.01 14.10
2015-03-31 1,011.57 -609.78 14.35
2014-12-31 1,000.71 238.45 14.61
2014-09-30 960.84 282.61 15.29
2014-06-30 920.96 326.76 15.97
2014-03-31 893.96 334.66 18.37
2013-12-31 866.96 342.56 20.78
2013-09-30 866.61 1,775.81 19.20
2013-06-30 866.25 3,209.05 17.62
2013-03-31 855.30 3,378.93 14.24
2012-12-31 844.35 3,548.80 10.86
2012-09-30 813.70 2,631.80 11.13

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Regal Real Estate Investment Trust has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Regal Real Estate Investment Trust used its assets more efficiently than the HK REITs industry average last year based on Return on Assets.
  • Regal Real Estate Investment Trust's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Regal Real Estate Investment Trust's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Regal Real Estate Investment Trust has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Regal Real Estate Investment Trust's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Regal Real Estate Investment Trust's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Regal Real Estate Investment Trust's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Regal Real Estate Investment Trust's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Regal Real Estate Investment Trust's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Regal Real Estate Investment Trust Company Filings, last reported 6 months ago.

SEHK:1881 Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 17,314.52 9,913.28 130.33
2018-09-30 17,314.52 9,913.28 130.33
2018-06-30 16,229.52 9,913.23 160.52
2018-03-31 16,229.52 9,913.23 160.52
2017-12-31 15,484.66 9,753.37 34.73
2017-09-30 15,484.66 9,753.37 34.73
2017-06-30 14,995.59 8,501.02 36.31
2017-03-31 14,995.59 8,501.02 36.31
2016-12-31 13,437.94 8,274.09 58.52
2016-09-30 13,437.94 8,274.09 58.52
2016-06-30 13,442.05 8,217.48 29.06
2016-03-31 13,442.05 8,217.48 29.06
2015-12-31 13,371.19 8,186.35 37.22
2015-09-30 13,371.19 8,186.35 37.22
2015-06-30 13,763.31 8,171.62 58.76
2015-03-31 13,763.31 8,171.62 58.76
2014-12-31 15,502.57 8,162.37 59.09
2014-09-30 15,502.57 8,162.37 59.09
2014-06-30 15,825.44 7,525.37 52.74
2014-03-31 15,825.44 7,525.37 52.74
2013-12-31 15,774.14 6,844.22 48.21
2013-09-30 15,774.14 6,844.22 48.21
2013-06-30 15,975.23 6,710.55 1,965.62
2013-03-31 15,975.23 6,710.55 1,965.62
2012-12-31 15,931.05 4,783.64 25.36
2012-09-30 15,931.05 4,783.64 25.36
  • Regal Real Estate Investment Trust's level of debt (57.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (43.4% vs 57.3% today).
  • Debt is not well covered by operating cash flow (5.1%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 3x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Regal Real Estate Investment Trust's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Regal Real Estate Investment Trust has a total score of 0/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Regal Real Estate Investment Trust's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
6.25%
Current annual income from Regal Real Estate Investment Trust dividends. Estimated to be 6.71% next year.
If you bought HK$2,000 of Regal Real Estate Investment Trust shares you are expected to receive HK$125 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Regal Real Estate Investment Trust's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (2.08%).
  • Regal Real Estate Investment Trust's dividend is above the markets top 25% of dividend payers in Hong Kong (5.76%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
SEHK:1881 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
Hong Kong REITs Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 3.8%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 978 Stocks 3.6%
Hong Kong Minimum Threshold Dividend Yield 10th Percentile 1.2%
Hong Kong Bottom 25% Dividend Yield 25th Percentile 2.1%
Hong Kong Top 25% Dividend Yield 75th Percentile 5.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

SEHK:1881 Future Dividends Estimate Data
Date (Data in HK$) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.17 2.00
2019-12-31 0.15 1.00
SEHK:1881 Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2019-04-11 0.150 6.138
2019-03-26 0.150 6.120
2018-04-12 0.145 6.291
2018-03-26 0.145 6.035
2017-04-12 0.154 6.517
2017-03-27 0.154 6.884
2016-04-11 0.154 7.499
2016-03-22 0.154 7.723
2015-04-13 0.162 7.993
2015-03-24 0.162 7.276
2014-04-10 0.150 7.132
2014-03-31 0.150 7.032
2013-04-11 0.154 6.785
2013-03-25 0.154 6.318
2012-08-27 0.126 5.843
2012-03-20 0.120 6.451
2011-08-24 0.161 8.644
2011-03-23 0.208 8.202
2010-08-19 0.172 7.842
2010-03-31 0.170 9.150
2010-03-18 0.170 8.809
2009-08-20 0.170 10.669
2009-04-06 0.168 14.723
2009-03-26 0.168 16.536
2008-08-28 0.179 19.209

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Regal Real Estate Investment Trust's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (3225.8x coverage).
X
Income/ dividend checks
We assess Regal Real Estate Investment Trust's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Regal Real Estate Investment Trust afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Regal Real Estate Investment Trust has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Regal Real Estate Investment Trust's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
  • Regal Real Estate Investment Trust has no CEO, or we have no data on them.
Management Team

Simon Lam

TITLE
Director of Finance
AGE
62
TENURE
8.8 yrs

Peony Choi

TITLE
Compliance Manager & Secretary of Regal Portfolio Management Limited
AGE
38

Johnny Chen

TITLE
Director of Asset Management & Executive Director - Regal Portfolio Management Limited
AGE
51
TENURE
5 yrs
Board of Directors Tenure

Average tenure and age of the Regal Real Estate Investment Trust board of directors in years:

11.4
Average Tenure
63.5
Average Age
  • The average tenure for the Regal Real Estate Investment Trust board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Yuk Sui Lo

TITLE
Chairman of Regal Portfolio Management Limited
AGE
75
TENURE
13.5 yrs

Po Man Lo

TITLE
Vice Chairman of Regal Portfolio Management Limited
AGE
39
TENURE
5.6 yrs

Simon Lam

TITLE
Director of Finance
AGE
62
TENURE
8.3 yrs

Johnny Chen

TITLE
Director of Asset Management & Executive Director - Regal Portfolio Management Limited
AGE
51
TENURE
4.9 yrs

John William Crawford

TITLE
Independent Non-Executive Director of Regal Portfolio Management Limited
AGE
77
TENURE
13.5 yrs

Kai Ole Ringenson

TITLE
Independent Non-Executive Director of Regal Portfolio Management Limited
AGE
70
TENURE
9.3 yrs

Jimmy Lo

TITLE
Non-Executive Director of Regal Portfolio Management Limited
AGE
45
TENURE
13.5 yrs

Donald Fan

TITLE
Non-Executive Director of Regal Portfolio Management Limited
AGE
62
TENURE
13.5 yrs

Abraham Razack Shek

TITLE
Independent Non-Executive Director of Regal Portfolio Management Limited
AGE
73
TENURE
13.5 yrs

Kenneth Ng

TITLE
Non-Executive Director of Regal Portfolio Management Limited
AGE
65
TENURE
6.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
X
Management checks
We assess Regal Real Estate Investment Trust's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Regal Real Estate Investment Trust has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Update: Regal Real Estate Investment Trust (HKG:1881) Stock Gained 26% In The Last Three Years

Just take a look at Regal Real Estate Investment Trust (HKG:1881), which is up 26%, over three years, soundly beating the market return of 20% (not including dividends). … As it happens, Regal Real Estate Investment Trust's TSR for the last 3 years was 53%, which exceeds the share price return mentioned earlier. … A Different Perspective We're pleased to report that Regal Real Estate Investment Trust shareholders have received a total shareholder return of 8.8% over one year.

Simply Wall St -

What Kind Of Shareholders Own Regal Real Estate Investment Trust (HKG:1881)?

The big shareholder groups in Regal Real Estate Investment Trust (HKG:1881) have power over the company. … See our latest analysis for Regal Real Estate Investment Trust SEHK:1881 Ownership Summary, May 24th 2019 What Does The Institutional Ownership Tell Us About Regal Real Estate Investment Trust? … Insider Ownership Of Regal Real Estate Investment Trust The definition of company insiders can be subjective, and does vary between jurisdictions.

Simply Wall St -

Is Regal Real Estate Investment Trust's (HKG:1881) 6.0% Dividend Worth Your Time?

Is Regal Real Estate Investment Trust (HKG:1881) a good dividend stock? … In this case, Regal Real Estate Investment Trust likely looks attractive to investors, given its 6.0% dividend yield and a payment history of over ten years. … Explore this interactive chart for our latest analysis on Regal Real Estate Investment Trust!

Simply Wall St -

One Metric To Rule Them All: Regal Real Estate Investment Trust (HKG:1881)

Regal Real Estate Investment Trust is a HK$7.9b. … real estate investment trust (REIT) based in Causeway Bay, Hong Kong. … View our latest analysis for Regal Real Estate Investment Trust

Simply Wall St -

Could The Regal Real Estate Investment Trust (HKG:1881) Ownership Structure Tell Us Something Useful?

The big shareholder groups in Regal Real Estate Investment Trust (HKG:1881) have power over the company. … Regal Real Estate Investment Trust has a market capitalization of HK$7.5b, so we would expect some institutional investors to have noticed the stock. … institutional investors have bought into the company.

Simply Wall St -

Investing In Regal Real Estate Investment Trust (HKG:1881): What You Need To Know

Regal Real Estate Investment Trust is a HK$7.1b. … real estate investment trust (REIT) based in Causeway Bay, Hong Kong. … View our latest analysis for Regal Real Estate Investment Trust.

Simply Wall St -

Who Are The Major Shareholders Of Regal Real Estate Investment Trust (HKG:1881)?

The big shareholder groups in Regal Real Estate Investment Trust (HKG:1881) have power over the company. … Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. … With a market capitalization of HK$7.75b, Regal Real Estate Investment Trust is a decent size, so it is probably on the radar of institutional investors.

Simply Wall St -

How Does Regal Real Estate Investment Trust (HKG:1881) Fare As A Dividend Stock?

Regal Real Estate Investment Trust (HKG:1881) has returned to shareholders over the past 10 years, an average dividend yield of 9.00% annually. … Let's dig deeper into whether Regal Real Estate Investment Trust should have a place in your portfolio. … View out our latest analysis for Regal Real Estate Investment Trust

Simply Wall St -

Investing In Regal Real Estate Investment Trust (HKG:1881): What You Need To Know

Regal Real Estate Investment Trust is a HK$7.79B mid-cap real estate investment trust (REIT) based in Causeway Bay, Hong Kong. … Check out our latest analysis for Regal Real Estate Investment Trust Funds from Operations (FFO) is a higher quality measure of 1881's earnings compared to net income. … Next Steps: Regal Real Estate Investment Trust can bring diversification into your portfolio due to its unique REIT characteristics.

Simply Wall St -

Only 2 Days Left To Regal Real Estate Investment Trust (HKG:1881)’s Ex-Dividend Date, Should Investors Buy?

On the 29 May 2018, Regal Real Estate Investment Trust (SEHK:1881) will be paying shareholders an upcoming dividend amount of HK$0.07 per share. … See our latest analysis for Regal Real Estate Investment Trust 5 checks you should do on a dividend stock When assessing a stock as a potential addition to my dividend Portfolio, I look at these five areas: Is its annual yield among the top 25% of dividend-paying companies? … SEHK:1881 Historical Dividend Yield May 7th 18 How does Regal Real Estate Investment Trust fare?

Simply Wall St -

Company Info

Description

Regal REIT is a Hong Kong collective investment scheme authorised under section 104 of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) and its Units were listed on The Stock Exchange of Hong Kong Limited on 30th March, 2007. Regal REIT is governed by a trust deed dated 11th December, 2006 (as amended by the first supplemental deed dated 2nd March, 2007, the second supplemental deed dated 15th May, 2008, the third supplemental deed dated 8th May, 2009, the fourth supplemental deed dated 23rd July, 2010, the fifth supplemental deed dated 3rd May, 2011, the sixth supplemental deed dated 21st July, 2011 and the seventh supplemental deed dated 14th April, 2015) constituting Regal REIT (the “Trust Deed”) and the REIT Code. The principal activity of Regal REIT and its subsidiaries (collectively, the “Group”) is to own and invest in income-producing hotels, serviced apartments or commercial properties (including office premises) with the objectives of producing stable and growing distributions to Unitholders and to achieve long-term growth in the net asset value per Unit attributable to Unitholders.

Details
Name: Regal Real Estate Investment Trust
1881
Exchange: SEHK
Founded: 2006
HK$7,850,409,165
3,257,431,189
Website: http://www.regalreit.com
Address: Regal Real Estate Investment Trust
Unit No. 2001,
20th Floor,
Causeway Bay,
New Territories, Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 1881 Units The Stock Exchange of Hong Kong Ltd. HK HKD 30. Mar 2007
Number of employees
Current staff
Staff numbers
0
Regal Real Estate Investment Trust employees.
Industry
Hotel and Resort REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/23 12:47
End of day share price update: 2019/07/23 00:00
Last estimates confirmation: 2019/07/11
Last earnings filing: 2019/04/11
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.