778 Stock Overview
Established in 2003, Fortune REIT is a real estate investment trust constituted by a trust deed (as amended, supplemented or otherwise modified from time to time).
Fortune Real Estate Investment Trust Competitors
Price History & Performance
|Historical stock prices|
|Current Share Price||HK$6.43|
|52 Week High||HK$8.88|
|52 Week Low||HK$6.33|
|1 Month Change||-6.68%|
|3 Month Change||-9.18%|
|1 Year Change||-22.99%|
|3 Year Change||-40.13%|
|5 Year Change||-33.64%|
|Change since IPO||67.45%|
Recent News & Updates
|778||HK REITs||HK Market|
Return vs Industry: 778 underperformed the Hong Kong REITs industry which returned -21.2% over the past year.
Return vs Market: 778 matched the Hong Kong Market which returned -23.3% over the past year.
|778 Average Weekly Movement||1.8%|
|REITs Industry Average Movement||2.6%|
|Market Average Movement||7.0%|
|10% most volatile stocks in HK Market||13.8%|
|10% least volatile stocks in HK Market||3.3%|
Stable Share Price: 778 is less volatile than 75% of Hong Kong stocks over the past 3 months, typically moving +/- 2% a week.
Volatility Over Time: 778's weekly volatility (2%) has been stable over the past year.
About the Company
Established in 2003, Fortune REIT is a real estate investment trust constituted by a trust deed (as amended, supplemented or otherwise modified from time to time). It is the first REIT to hold assets in Hong Kong and is currently listed on the Main Board of The Stock Exchange of Hong Kong Limited. Fortune REIT currently holds a portfolio of 16 private housing estate retail properties in Hong Kong, comprising of 3 million sq.
Fortune Real Estate Investment Trust Fundamentals Summary
|778 fundamental statistics|
Is 778 overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|778 income statement (TTM)|
|Cost of Revenue||HK$560.93m|
Last Reported Earnings
Dec 31, 2021
Next Earnings Date
|Earnings per share (EPS)||0.67|
|Net Profit Margin||72.94%|
How did 778 perform over the long term?See historical performance and comparison
7.0%Current Dividend Yield
Is 778 undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score 4/6
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Key Valuation Metric
Which metric is best to use when looking at relative valuation for 778?
Other financial metrics that can be useful for relative valuation.
|What is 778's n/a Ratio?|
Price to Earnings Ratio vs Peers
How does 778's PE Ratio compare to its peers?
|778 PE Ratio vs Peers|
|Company||PE||Estimated Growth||Market Cap|
Price-To-Earnings vs Peers: 778 is good value based on its Price-To-Earnings Ratio (9.7x) compared to the peer average (19.2x).
Price to Earnings Ratio vs Industry
How does 778's PE Ratio compare vs other companies in the REITs Industry?
Price-To-Earnings vs Industry: 778 is good value based on its Price-To-Earnings Ratio (9.7x) compared to the Hong Kong REITs industry average (9.7x)
Price to Earnings Ratio vs Fair Ratio
What is 778's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.
|Current PE Ratio||9.7x|
|Fair PE Ratio||4.1x|
Price-To-Earnings vs Fair Ratio: 778 is expensive based on its Price-To-Earnings Ratio (9.7x) compared to the estimated Fair Price-To-Earnings Ratio (4.1x).
Share Price vs Fair Value
What is the Fair Price of 778 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: 778 (HK$6.43) is trading below our estimate of fair value (HK$12.27)
Significantly Below Fair Value: 778 is trading below fair value by more than 20%.
Price to Earnings Growth Ratio
PEG Ratio: 778's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
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How is Fortune Real Estate Investment Trust forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?
Future Growth Score0/6
Future Growth Score 0/6
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: 778's earnings are forecast to decline over the next 3 years (-21.8% per year).
Earnings vs Market: 778's earnings are forecast to decline over the next 3 years (-21.8% per year).
High Growth Earnings: 778's earnings are forecast to decline over the next 3 years.
Revenue vs Market: 778's revenue (0.6% per year) is forecast to grow slower than the Hong Kong market (10.1% per year).
High Growth Revenue: 778's revenue (0.6% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: 778's Return on Equity is forecast to be low in 3 years time (3%).
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How has Fortune Real Estate Investment Trust performed over the past 5 years?
Past Performance Score1/6
Past Performance Score 1/6
Growing Profit Margin
Earnings vs Industry
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: 778 has a large one-off gain of HK$358.0M impacting its December 31 2021 financial results.
Growing Profit Margin: 778 became profitable in the past.
Past Earnings Growth Analysis
Earnings Trend: 778's earnings have declined by 39.6% per year over the past 5 years.
Accelerating Growth: 778 has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.
Earnings vs Industry: 778 has become profitable in the last year, making it difficult to compare its past year earnings growth to the REITs industry (12.6%).
Return on Equity
High ROE: 778's Return on Equity (4.5%) is considered low.
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How is Fortune Real Estate Investment Trust's financial position?
Financial Health Score3/6
Financial Health Score 3/6
Short Term Liabilities
Long Term Liabilities
Financial Position Analysis
Short Term Liabilities: 778's short term assets (HK$203.7M) do not cover its short term liabilities (HK$2.7B).
Long Term Liabilities: 778's short term assets (HK$203.7M) do not cover its long term liabilities (HK$7.9B).
Debt to Equity History and Analysis
Debt Level: 778's net debt to equity ratio (30.1%) is considered satisfactory.
Reducing Debt: 778's debt to equity ratio has reduced from 44.2% to 30.5% over the past 5 years.
Debt Coverage: 778's debt is not well covered by operating cash flow (12.3%).
Interest Coverage: 778's interest payments on its debt are well covered by EBIT (6.3x coverage).
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What is Fortune Real Estate Investment Trust current dividend yield, its reliability and sustainability?
Dividend Score 4/6
Future Dividend Coverage
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: 778's dividend (6.97%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.76%).
High Dividend: 778's dividend (6.97%) is low compared to the top 25% of dividend payers in the Hong Kong market (7.89%).
Stability and Growth of Payments
Stable Dividend: 778's dividends per share have been stable in the past 10 years.
Growing Dividend: 778's dividend payments have increased over the past 10 years.
Earnings Payout to Shareholders
Earnings Coverage: At its current payout ratio (89.1%), 778's payments are covered by earnings.
Cash Payout to Shareholders
Cash Flow Coverage: At its current cash payout ratio (81.3%), 778's dividend payments are covered by cash flows.
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How experienced are the management team and are they aligned to shareholders interests?
Average board tenure
Justina Chiu (40 yo)
Ms. Yu Chiu, also known as Justina, CFA, has been the Chief Executive Officer at ARA Asset Management Limited, a manager of Fortune Real Estate Investment Trust since February 3, 2015. Ms. Chiu serves as a...
Experienced Board: 778's board of directors are considered experienced (7 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Fortune Real Estate Investment Trust's employee growth, exchange listings and data sources
- Name: Fortune Real Estate Investment Trust
- Ticker: 778
- Exchange: SEHK
- Founded: 2003
- Industry: Retail REITs
- Sector: Real Estate
- Implied Market Cap: HK$12.718b
- Shares outstanding: 1.98b
- Website: https://www.fortunereit.com/html/index.php
- Fortune Real Estate Investment Trust
- 5 Temasek Boulevard
- No. 12-01 Suntec Tower Five
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2022/06/24 00:00|
|End of Day Share Price||2022/06/24 00:00|
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.