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A17U

Ascendas Real Estate Investment TrustSGX:A17U Stock Report

Last Price

S$2.85

Market Cap

S$12.0b

7D

-0.7%

1Y

-9.5%

Updated

26 Jan, 2022

Data

Company Financials +
A17U fundamental analysis
Snowflake Score
Valuation2/6
Future Growth1/6
Past Performance2/6
Financial Health2/6
Dividends3/6

A17U Stock Overview

Ascendas Real Estate Investment Trust (Ascendas Reit) is Singapore’s first and largest listed business space and industrial real estate investment trust.

Ascendas Real Estate Investment Trust Competitors

Mapletree Logistics Trust

SGX:M44U

S$8.4b

Mapletree Industrial Trust

SGX:ME8U

S$6.9b

ESR-REIT

SGX:J91U

S$1.8b

CapitaLand Integrated Commercial Trust

SGX:C38U

S$13.1b

Price History & Performance

Summary of all time highs, changes and price drops for Ascendas Real Estate Investment Trust
Historical stock prices
Current Share PriceS$2.85
52 Week HighS$3.18
52 Week LowS$2.82
Beta0.46
1 Month Change-2.40%
3 Month Change-7.47%
1 Year Change-9.52%
3 Year Change4.78%
5 Year Change14.92%
Change since IPO208.11%

Recent News & Updates

Shareholder Returns

A17USG REITsSG Market
7D-0.7%-1.2%-1.1%
1Y-9.5%-5.3%4.0%

Return vs Industry: A17U underperformed the SG REITs industry which returned -5.3% over the past year.

Return vs Market: A17U underperformed the SG Market which returned 4% over the past year.

Price Volatility

Is A17U's price volatile compared to industry and market?
A17U volatility
A17U Average Weekly Movement1.5%
REITs Industry Average Movement2.4%
Market Average Movement4.5%
10% most volatile stocks in SG Market11.9%
10% least volatile stocks in SG Market2.1%

Stable Share Price: A17U is less volatile than 75% of SG stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: A17U's weekly volatility (2%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2002n/aWilliam Tayhttps://www.ascendas-reit.com

Ascendas Real Estate Investment Trust (Ascendas Reit) is Singapore’s first and largest listed business space and industrial real estate investment trust. It was listed on the Singapore Exchange Securities Trading Limited (SGX-ST) in November 2002. As at 31 December 2020, Ascendas Reit’s investment properties under management stood at S$13.7 billion.

Ascendas Real Estate Investment Trust Fundamentals Summary

How do Ascendas Real Estate Investment Trust's earnings and revenue compare to its market cap?
A17U fundamental statistics
Market CapS$11.96b
Earnings (TTM)S$518.39m
Revenue (TTM)S$1.12b

23.1x

P/E Ratio

10.6x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
A17U income statement (TTM)
RevenueS$1.12b
Cost of RevenueS$363.28m
Gross ProfitS$761.11m
ExpensesS$242.73m
EarningsS$518.39m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

Feb 08, 2022

Earnings per share (EPS)0.12
Gross Margin67.69%
Net Profit Margin46.10%
Debt/Equity Ratio63.2%

How did A17U perform over the long term?

See historical performance and comparison

Dividends

5.3%

Current Dividend Yield

98%

Payout Ratio

Valuation

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

44.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: A17U (SGD2.85) is trading below our estimate of fair value (SGD5.09)

Significantly Below Fair Value: A17U is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: A17U is poor value based on its PE Ratio (23.1x) compared to the SG REITs industry average (19.7x).

PE vs Market: A17U is poor value based on its PE Ratio (23.1x) compared to the SG market (12.8x).


Price to Earnings Growth Ratio

PEG Ratio: A17U is poor value based on its PEG Ratio (3.8x)


Price to Book Ratio

PB vs Industry: A17U is overvalued based on its PB Ratio (1.2x) compared to the SG REITs industry average (1x).


Future Growth

How is Ascendas Real Estate Investment Trust forecast to perform in the next 1 to 3 years based on estimates from 18 analysts?

6.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: A17U's forecast earnings growth (6% per year) is above the savings rate (1.8%).

Earnings vs Market: A17U's earnings (6% per year) are forecast to grow slower than the SG market (14.3% per year).

High Growth Earnings: A17U's earnings are forecast to grow, but not significantly.

Revenue vs Market: A17U's revenue (5% per year) is forecast to grow slower than the SG market (7.6% per year).

High Growth Revenue: A17U's revenue (5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: A17U's Return on Equity is forecast to be low in 3 years time (7.4%).


Past Performance

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

6.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: A17U has high quality earnings.

Growing Profit Margin: A17U's current net profit margins (46.1%) are lower than last year (51.4%).


Past Earnings Growth Analysis

Earnings Trend: A17U's earnings have grown by 6.7% per year over the past 5 years.

Accelerating Growth: A17U's earnings growth over the past year (1.3%) is below its 5-year average (6.7% per year).

Earnings vs Industry: A17U earnings growth over the past year (1.3%) underperformed the REITs industry 11.2%.


Return on Equity

High ROE: A17U's Return on Equity (5.4%) is considered low.


Financial Health

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


Financial Position Analysis

Short Term Liabilities: A17U's short term assets (SGD477.9M) do not cover its short term liabilities (SGD1.7B).

Long Term Liabilities: A17U's short term assets (SGD477.9M) do not cover its long term liabilities (SGD5.8B).


Debt to Equity History and Analysis

Debt Level: A17U's net debt to equity ratio (60%) is considered high.

Reducing Debt: A17U's debt to equity ratio has reduced from 63.4% to 63.2% over the past 5 years.

Debt Coverage: A17U's debt is not well covered by operating cash flow (12.8%).

Interest Coverage: A17U's interest payments on its debt are well covered by EBIT (7.2x coverage).


Balance Sheet


Dividend

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

5.29%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: A17U's dividend (5.29%) is higher than the bottom 25% of dividend payers in the SG market (2.07%).

High Dividend: A17U's dividend (5.29%) is low compared to the top 25% of dividend payers in the SG market (5.48%).


Stability and Growth of Payments

Stable Dividend: A17U's dividend payments have been volatile in the past 10 years.

Growing Dividend: A17U's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (98%), A17U's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: A17U's dividends in 3 years are not forecast to be well covered by earnings (104% payout ratio).


Next Steps

Management

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

3.4yrs

Average management tenure


CEO

William Tay (50 yo)

3.92yrs

Tenure

Mr. Wee Leong Tay, also known as William has been Executive Director and CEO oof Ascendas Funds Management (S) Limited (AFM), the Manager of, Ascendas Real Estate Investment Trust since 1 February 2018. He...


Leadership Team

Experienced Management: A17U's management team is considered experienced (3.4 years average tenure).


Board Members

Experienced Board: A17U's board of directors are not considered experienced ( 2.8 years average tenure), which suggests a new board.


Ownership

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

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 4.4%.


Top Shareholders

Company Information

Ascendas Real Estate Investment Trust's employee growth, exchange listings and data sources


Key Information

  • Name: Ascendas Real Estate Investment Trust
  • Ticker: A17U
  • Exchange: SGX
  • Founded: 2002
  • Industry: Industrial REITs
  • Sector: Real Estate
  • Implied Market Cap: S$11.965b
  • Shares outstanding: 4.20b
  • Website: https://www.ascendas-reit.com

Location

  • Ascendas Real Estate Investment Trust
  • No.30-01 Capital Tower
  • 168 Robinson Road
  • Singapore
  • 68912
  • Singapore

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/01/26 15:38
End of Day Share Price2022/01/26 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


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.