Announcement • Apr 10
Sunlight Real Estate Investment Trust to Report Fiscal Year 2025 Final Results on Apr 09, 2026 Sunlight Real Estate Investment Trust announced that they will report fiscal year 2025 final results at 9:30 AM, China Standard Time on Apr 09, 2026 Declared Dividend • Mar 14
Final dividend reduced to HK$0.091 Dividend of HK$0.091 is 2.2% lower than last year. Ex-date: 26th March 2026 Payment date: 14th April 2026 Dividend yield will be 7.3%, which is higher than the industry average of 5.4%. Reported Earnings • Mar 12
Full year 2025 earnings released: HK$0.16 loss per share (vs HK$0.068 loss in FY 2024) Full year 2025 results: HK$0.16 loss per share (further deteriorated from HK$0.068 loss in FY 2024). Revenue: HK$778.1m (down 5.6% from FY 2024). Net loss: HK$275.4m (loss widened 139% from FY 2024). Revenue is forecast to stay flat during the next 2 years compared to a 2.9% growth forecast for the REITs industry in Asia. 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 8% per year, which means it has not declined as severely as earnings. Announcement • Mar 11
Sunlight Real Estate Investment Trust, Annual General Meeting, Jun 25, 2026 Sunlight Real Estate Investment Trust, Annual General Meeting, Jun 25, 2026. Announcement • Feb 23
Sunlight Real Estate Investment Trust to Report Fiscal Year 2025 Results on Mar 11, 2026 Sunlight Real Estate Investment Trust announced that they will report fiscal year 2025 results on Mar 11, 2026 Reported Earnings • Aug 26
First half 2025 earnings released: HK$0.099 loss per share (vs HK$0.047 profit in 1H 2024) First half 2025 results: HK$0.099 loss per share (down from HK$0.047 profit in 1H 2024). Revenue: HK$391.2m (down 4.8% from 1H 2024). Net loss: HK$172.2m (down 317% from profit in 1H 2024). Revenue is expected to decline by 2.5% p.a. on average during the next 2 years, while revenues in the REITs industry in Asia are expected to grow by 2.8%. Over the last 3 years on average, earnings per share has fallen by 12% per year whereas the company’s share price has fallen by 15% per year. Declared Dividend • Aug 13
Final dividend of HK$0.091 announced Dividend of HK$0.091 is the same as last year. Ex-date: 26th August 2025 Payment date: 9th September 2025 Dividend yield will be 7.9%, which is higher than the industry average of 5.4%. Price Target Changed • Aug 11
Price target increased by 18% to HK$2.80 Up from HK$2.38, the current price target is provided by 1 analyst. New target price is 19% above last closing price of HK$2.36. Stock is up 32% over the past year. The company posted a net loss per share of HK$0.068 last year. Announcement • Jul 24
Sunlight Real Estate Investment Trust to Report First Half, 2025 Results on Aug 11, 2025 Sunlight Real Estate Investment Trust announced that they will report first half, 2025 results on Aug 11, 2025 Announcement • Apr 04
Sunlight Real Estate Investment Trust to Report Fiscal Year 2024 Results on Apr 07, 2025 Sunlight Real Estate Investment Trust announced that they will report fiscal year 2024 results at 4:00 PM, China Standard Time on Apr 07, 2025 Reported Earnings • Mar 16
Full year 2024 earnings released: HK$0.068 loss per share (vs HK$0.19 profit in FY 2023) Full year 2024 results: HK$0.068 loss per share (down from HK$0.19 profit in FY 2023). Revenue: HK$824.2m (up 1.3% from FY 2023). Net loss: HK$115.3m (down 135% from profit in FY 2023). Revenue is forecast to stay flat during the next 2 years, in line with the revenue forecast for the REITs industry in Asia. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Declared Dividend • Mar 13
Final dividend of HK$0.093 announced Shareholders will receive a dividend of HK$0.093. Ex-date: 26th March 2025 Payment date: 11th April 2025 Dividend yield will be 9.2%, which is higher than the industry average of 5.4%. Announcement • Mar 11
Sunlight Real Estate Investment Trust, Annual General Meeting, May 29, 2025 Sunlight Real Estate Investment Trust, Annual General Meeting, May 29, 2025. New Risk • Mar 11
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Announcement • Feb 21
Sunlight Real Estate Investment Trust to Report 18 Months Period Ending Dec 31, 2024 Results on Mar 11, 2025 Sunlight Real Estate Investment Trust announced that they will report 18 months, period ending Dec 31, 2024 results on Mar 11, 2025 Upcoming Dividend • Aug 21
Upcoming dividend of HK$0.091 per share Eligible shareholders must have bought the stock before 28 August 2024. Payment date: 11 September 2024. Trailing yield: 9.4%. Within top quartile of Hong Kong dividend payers (8.2%). Higher than average of industry peers (5.3%). Reported Earnings • Aug 14
Full year 2024 earnings released Full year 2024 results: Revenue: HK$830.3m (up 6.0% from FY 2023). Net income: HK$159.2m (up HK$187.7m from FY 2023). Profit margin: 19% (up from net loss in FY 2023). Revenue is expected to fall by 6.3% p.a. on average during the next 2 years compared to a 2.0% decline forecast for the REITs industry in Asia. Announcement • Jul 25
Sunlight Real Estate Investment Trust to Report Fiscal Year 2024 Results on Aug 13, 2024 Sunlight Real Estate Investment Trust announced that they will report fiscal year 2024 results on Aug 13, 2024 Announcement • Apr 23
Sunlight Real Estate Investment Trust, Annual General Meeting, May 29, 2024 Sunlight Real Estate Investment Trust, Annual General Meeting, May 29, 2024, at 10:30 China Standard Time. Location: The Ballroom, 18th Floor, The Mira Hong Kong, 118 Nathan Road, Tsim Sha Tsui, Kowloon, Hong Kong Hong Kong Hong Kong Agenda: To approve the grant of a general mandate in relation to the buy-back of units in Sunlight REIT; to re-appoint Mr. KWAN Kai Cheong as an Independent Non-Executive Director of Henderson Sunlight Asset Management Limited; to re-appoint Dr. TSE Kwok Sang as an Independent Non-Executive Director of Henderson Sunlight Asset Management Limited; to re-appoint Mr. KWOK Tun Ho, Chester as an Independent Non-Executive Director of Henderson Sunlight Asset Management Limited; and to consider other matters. Announcement • Mar 12
Sunlight Real Estate Investment Trust to Report First Half, 2024 Final Results on Mar 12, 2024 Sunlight Real Estate Investment Trust announced that they will report first half, 2024 final results on Mar 12, 2024 Upcoming Dividend • Mar 06
Upcoming dividend of HK$0.09 per share Eligible shareholders must have bought the stock before 13 March 2024. Payment date: 27 March 2024. Trailing yield: 9.8%. Within top quartile of Hong Kong dividend payers (8.4%). Higher than average of industry peers (5.3%). Price Target Changed • Mar 01
Price target decreased by 22% to HK$2.67 Down from HK$3.43, the current price target is provided by 1 analyst. New target price is 43% above last closing price of HK$1.87. Stock is down 46% over the past year. The company posted a net loss per share of HK$0.017 last year. Declared Dividend • Feb 29
First half dividend reduced to HK$0.09 Dividend of HK$0.09 is 18% lower than last year. Ex-date: 13th March 2024 Payment date: 27th March 2024 Dividend yield will be 11%, which is higher than the industry average of 5.4%. Reported Earnings • Feb 28
First half 2024 earnings released: EPS: HK$0.047 (vs HK$0.16 loss in 1H 2023) First half 2024 results: EPS: HK$0.047 (up from HK$0.16 loss in 1H 2023). Revenue: HK$419.2m (up 7.9% from 1H 2023). Net income: HK$79.7m (up HK$354.1m from 1H 2023). Profit margin: 19% (up from net loss in 1H 2023). Revenue is forecast to grow 1.4% p.a. on average during the next 2 years, compared to a 2.5% growth forecast for the REITs industry in Asia. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Announcement • Feb 10
Sunlight Real Estate Investment Trust to Report First Half, 2024 Results on Feb 27, 2024 Sunlight Real Estate Investment Trust announced that they will report first half, 2024 results on Feb 27, 2024 Announcement • Sep 30
Sunlight Real Estate Investment Trust to Report Fiscal Year 2023 Final Results on Oct 03, 2023 Sunlight Real Estate Investment Trust announced that they will report fiscal year 2023 final results on Oct 03, 2023 Upcoming Dividend • Sep 14
Upcoming dividend of HK$0.11 per share at 8.6% yield Eligible shareholders must have bought the stock before 21 September 2023. Payment date: 10 October 2023. Trailing yield: 8.6%. Within top quartile of Hong Kong dividend payers (7.9%). Higher than average of industry peers (5.2%). Reported Earnings • Sep 07
Full year 2023 earnings released Full year 2023 results: Revenue: HK$783.3m (down 2.4% from FY 2022). Net loss: HK$28.4m (down 128% from profit in FY 2022). Revenue is forecast to grow 2.9% p.a. on average during the next 2 years, while revenues in the REITs industry in Asia are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. New Risk • Aug 31
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. This is currently the only risk that has been identified for the company. Announcement • Aug 22
Sunlight Real Estate Investment Trust to Report Fiscal Year 2023 Results on Sep 06, 2023 Sunlight Real Estate Investment Trust announced that they will report fiscal year 2023 results on Sep 06, 2023 Buying Opportunity • Aug 14
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 9.5%. The fair value is estimated to be HK$3.59, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.0% over the last 3 years. Meanwhile, the company became loss making. Price Target Changed • Jul 24
Price target decreased by 10% to HK$3.57 Down from HK$3.97, the current price target is provided by 1 analyst. New target price is 22% above last closing price of HK$2.93. Stock is down 21% over the past year. The company posted earnings per share of HK$0.061 last year. Upcoming Dividend • Feb 23
Upcoming dividend of HK$0.11 per share at 7.2% yield Eligible shareholders must have bought the stock before 02 March 2023. Payment date: 16 March 2023. Trailing yield: 7.2%. Lower than top quartile of Hong Kong dividend payers (8.0%). Higher than average of industry peers (6.4%). Announcement • Feb 16
Sunlight Real Estate Investment Trust Declares Interim Distribution for the Six Months Ended 31 December 2022, Payable on 16 March 2023 Sunlight Real Estate Investment Trust declared interim distribution of HKD 0.11 per unit for the six months ended 31 December 2022. Ex-dividend date is 2 March 2023. Record date is 8 March 2023. Payment date is 16 March 2023. Reported Earnings • Feb 16
First half 2023 earnings released First half 2023 results: Revenue: HK$388.5m (down 3.9% from 1H 2022). Net loss: HK$274.4m (down 217% from profit in 1H 2022). Revenue is forecast to grow 6.0% p.a. on average during the next 2 years, compared to a 5.4% growth forecast for the REITs industry in Hong Kong. Announcement • Feb 02
Sunlight Real Estate Investment Trust to Report First Half, 2023 Results on Feb 15, 2023 Sunlight Real Estate Investment Trust announced that they will report first half, 2023 results on Feb 15, 2023 Announcement • Jan 12
Sunlight Real Estate Investment Trust (SEHK:435) entered into a share sale purchase Agreement to acquire Victory Wave Limited from Hinex Development Limited for HKD 748 million. Sunlight Real Estate Investment Trust (SEHK:435) entered into a share sale purchase Agreement to acquire Victory Wave Limited from Hinex Development Limited for HKD 748 million for January 11, 2023. The consideration is subject to some Adjustment. Buying Opportunity • Jan 09
Now 21% undervalued Over the last 90 days, the stock is up 17%. The fair value is estimated to be HK$4.32, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 2.9% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 1.8% in 2 years. Earnings is forecast to grow by 279% in the next 2 years. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 5 highly experienced directors. Independent Non-Executive Director Helen Zee was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment deteriorated over the past week After last week's 18% share price decline to HK$3.01, the stock trades at a trailing P/E ratio of 49.2x. Average forward P/E is 16x in the REITs industry in Hong Kong. Total loss to shareholders of 31% over the past three years. Upcoming Dividend • Sep 15
Upcoming dividend of HK$0.13 per share Eligible shareholders must have bought the stock before 22 September 2022. Payment date: 11 October 2022. Trailing yield: 6.9%. Lower than top quartile of Hong Kong dividend payers (8.3%). Higher than average of industry peers (6.0%). Reported Earnings • Sep 07
Full year 2022 earnings released Full year 2022 results: Revenue: HK$802.9m (flat on FY 2021). Net income: HK$102.9m (up HK$336.6m from FY 2021). Profit margin: 13% (up from net loss in FY 2021). Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 5 highly experienced directors. Independent Non-Executive Director Helen Zee was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Mar 08
Board Member recently bought HK$193k worth of stock On the 3rd of March, Ho Kwok Tun bought around 50k shares on-market at roughly HK$3.85 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Buying Opportunity • Feb 28
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be HK$5.17, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. The company has become profitable over the last year. Upcoming Dividend • Feb 23
Upcoming dividend of HK$0.12 per share Eligible shareholders must have bought the stock before 02 March 2022. Payment date: 16 March 2022. Trailing yield: 5.9%. Lower than top quartile of Hong Kong dividend payers (7.1%). In line with average of industry peers (5.6%). Reported Earnings • Feb 17
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: EPS: HK$0.14 (up from HK$0.12 loss in 1H 2021). Revenue: HK$404.3m (up 1.2% from 1H 2021). Net income: HK$234.2m (up HK$428.4m from 1H 2021). Profit margin: 58% (up from net loss in 1H 2021). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 2.7%, compared to a 3.8% growth forecast for the industry in Hong Kong. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 81 percentage points per year, which is a significant difference in performance. Reported Earnings • Oct 07
Full year 2021 earnings released: HK$0.14 loss per share (vs HK$0.45 loss in FY 2020) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2021 results: Revenue: HK$799.3m (down 6.5% from FY 2020). Net loss: HK$233.7m (loss narrowed 69% from FY 2020). Net asset value (NAV) per share: HK$8.45 (down 4.9% from FY 2020). The current share price is 47% lower than NAV per share. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 93 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Sep 16
Upcoming dividend of HK$0.13 per share Eligible shareholders must have bought the stock before 23 September 2021. Payment date: 08 October 2021. Trailing yield: 5.2%. Lower than top quartile of Hong Kong dividend payers (6.6%). In line with average of industry peers (4.9%). Price Target Changed • Sep 09
Price target increased to HK$5.44 Up from HK$5.00, the current price target is an average from 2 analysts. New target price is 9.9% above last closing price of HK$4.95. Stock is up 27% over the past year. Reported Earnings • Sep 08
Full year 2021 earnings released: HK$0.14 loss per share (vs HK$0.45 loss in FY 2020) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2021 results: Revenue: HK$799.3m (down 6.5% from FY 2020). Net loss: HK$233.7m (loss narrowed 69% from FY 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 93 percentage points per year, which is a significant difference in performance. Price Target Changed • Sep 04
Price target decreased to HK$4.42 Down from HK$5.13, the current price target is provided by 1 analyst. New target price is 10.0% below last closing price of HK$4.91. Stock is up 33% over the past year. Reported Earnings • Feb 25
First half 2021 earnings released: HK$0.12 loss per share (vs HK$0.019 profit in 1H 2020) The company reported a poor first half result with weaker earnings, revenues and control over costs. First half 2021 results: Revenue: HK$399.5m (down 8.6% from 1H 2020). Net loss: HK$194.1m (down HK$224.9m from profit in 1H 2020). Over the last 3 years on average, earnings per share has fallen by 78% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Feb 18
Upcoming Dividend of HK$0.13 Per Share Will be paid on the 12th of March to those who are registered shareholders by the 25th of February. The trailing yield of 6.7% is in the top quartile of Hong Kong dividend payers (6.3%), and it is higher than industry peers (5.3%). Is New 90 Day High Low • Feb 17
New 90-day high: HK$4.01 The company is up 10.0% from its price of HK$3.64 on 19 November 2020. The Hong Kong market is up 17% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the REITs industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$3.71 per share. Reported Earnings • Feb 07
First half 2021 earnings released: HK$0.12 loss per share (vs HK$0.019 profit in 1H 2020) The company reported a poor first half result with weaker earnings, revenues and control over costs. First half 2021 results: Revenue: HK$399.5m (down 8.6% from 1H 2020). Net loss: HK$194.1m (down HK$224.9m from profit in 1H 2020). Over the last 3 years on average, earnings per share has fallen by 78% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Oct 16
New 90-day low: HK$3.44 The company is down 11% from its price of HK$3.86 on 17 July 2020. The Hong Kong market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the REITs industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$3.31 per share. Reported Earnings • Sep 25
Full year earnings released Over the last 12 months the company has reported total losses of HK$751.4m, with earnings decreasing by HK$2.34b from the prior year. Total revenue was HK$854.6m over the last 12 months, largely unchanged from the prior year. Note: Net income excluding extraordinary items provided as the company does not report funds from operations. Is New 90 Day High Low • Sep 25
New 90-day low: HK$3.50 The company is down 9.0% from its price of HK$3.84 on 26 June 2020. The Hong Kong market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the REITs industry, which is down 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$3.37 per share. 
