BHG Retail REIT
Market Cap
S$345.8m
Last Updated
2020/01/26 13:14 UTC
Data Sources
Company Financials
Executive Summary
BHG Retail REIT is the first pure-play China Retail REIT sponsored by a leading China integrated retail group.
Rewards
Risk Analysis
Snowflake Analysis
Undervalued with proven track record.
Share Price & News
How has BHG Retail REIT's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: BMGU has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
-0.7%
BMGU
-0.3%
SG REITs
-1.4%
SG Market
1 Year Return
-1.4%
BMGU
15.3%
SG REITs
0.7%
SG Market
Return vs Industry: BMGU underperformed the SG REITs industry which returned 16.1% over the past year.
Return vs Market: BMGU underperformed the SG Market which returned 2.1% over the past year.
Shareholder returns
| BMGU | Industry | Market | |
|---|---|---|---|
| 7 Day | -0.7% | -0.3% | -1.4% |
| 30 Day | -1.4% | 3.3% | 0.3% |
| 90 Day | 0% | 1.8% | 1.9% |
| 1 Year | 5.1%-1.4% | 22.4%15.3% | 4.8%0.7% |
| 3 Year | 29.5%4.6% | 52.1%26.0% | 13.7%1.6% |
| 5 Year | n/a | 59.3%15.9% | 11.5%-7.2% |
Price Volatility Vs. Market
How volatile is BHG Retail REIT's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 month ago | Simply Wall St
Should BHG Retail REIT (SGX:BMGU) Be Disappointed With Their 16% Profit?2 months ago | Simply Wall St
Can BHG Retail REIT (SGX:BMGU) Maintain Its Strong Returns?2 months ago | Simply Wall St
Can We See Significant Insider Ownership On The BHG Retail REIT (SGX:BMGU) Share Register?Valuation
Is BHG Retail REIT undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: BMGU (SGD0.69) is trading below our estimate of fair value (SGD1.95)
Significantly Below Fair Value: BMGU is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: BMGU is good value based on its PE Ratio (6.5x) compared to the REITs industry average (15.3x).
PE vs Market: BMGU is good value based on its PE Ratio (6.5x) compared to the SG market (13.5x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate BMGU's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: BMGU is good value based on its PB Ratio (0.9x) compared to the SG REITs industry average (1x).
Next Steps
Future Growth
How is BHG Retail REIT forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
-1.7%
Forecasted Real Estate industry annual growth in earnings
In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as BHG Retail REIT has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.
This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.
Next Steps
- Examine whether BHG Retail REIT is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
- BHG Retail REIT competitive advantages and company strategy can generally be found in its financial reports archived here.
- Explore growth companies in the Real Estate industry.
Past Performance
How has BHG Retail REIT performed over the past 5 years?
9.5%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: BMGU has a large one-off gain of SGD58.1M impacting its September 30 2019 financial results.
Growing Profit Margin: BMGU's current net profit margins (69.8%) are higher than last year (31.7%).
Past Earnings Growth Analysis
Earnings Trend: BMGU's earnings have grown by 9.5% per year over the past 5 years.
Accelerating Growth: BMGU's earnings growth over the past year (141.9%) exceeds its 5-year average (9.5% per year).
Earnings vs Industry: BMGU earnings growth over the past year (141.9%) exceeded the REITs industry 7.1%.
Return on Equity
High ROE: BMGU's Return on Equity (11.9%) is considered low.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is BHG Retail REIT's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Inventory Level: BMGU has a high level of physical assets or inventory.
Debt Coverage by Assets: BMGU's debt is not covered by short term assets (assets are 0.2x debt).
Financial Institutions Analysis
Asset Level: BMGU's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if BMGU has a sufficient allowance for bad loans.
Low Risk Liabilities: BMGU reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if BMGU has an acceptable proportion of non-loan assets held.
Low Risk Deposits: BMGU has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if BMGU has an appropriate level of bad loans.
Next Steps
Dividend
What is BHG Retail REIT's current dividend yield, its reliability and sustainability?
7.59%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: BMGU's dividend (7.53%) is higher than the bottom 25% of dividend payers in the SG market (2.5%).
High Dividend: BMGU's dividend (7.53%) is in the top 25% of dividend payers in the SG market (5.41%)
Stability and Growth of Payments
Stable Dividend: BMGU has been paying a dividend for less than 10 years and during this time payments have been volatile.
Growing Dividend: BMGU's dividend payments have increased, but the company has only paid a dividend for 4 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (43%), BMGU's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.
Next Steps
Management
What is the CEO of BHG Retail REIT's salary, the management and board of directors tenure and is there insider trading?
2.0yrs
Average management tenure
CEO
Iz-Lynn Chan 0
0yrs
Tenure
Ms. Iz-Lynn Chan serves as Chief Executive Officer and Head of Investor Relations - BHG Retail Trust Management Pte Ltd at BHG Retail REIT. Ms. Chan has 20 years' experience in the real estate and service  ...
Management Age and Tenure
2.0yrs
Average Tenure
Experienced Management: BMGU's management team is considered experienced (2 years average tenure).
Board Age and Tenure
4.2yrs
Average Tenure
47yo
Average Age
Experienced Board: BMGU's board of directors are considered experienced (4.2 years average tenure).
Insider Trading
Insider Buying: BMGU insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
| Entity | Company |
| Shares | 7,400 |
| Max Price | S$0.69 |
| Entity | Company |
| Shares | 37,700 |
| Max Price | S$0.69 |
| Entity | Company |
| Shares | 2,800 |
| Max Price | S$0.69 |
| Entity | Company |
| Shares | 5,000 |
| Max Price | S$0.69 |
| Entity | Company |
| Shares | 100 |
| Max Price | S$0.68 |
| Entity | Company |
| Shares | 50,000 |
| Max Price | S$0.69 |
| Entity | Company |
| Shares | 7,300 |
| Max Price | S$0.69 |
| Entity | Company |
| Shares | 34,000 |
| Max Price | S$0.69 |
| Entity | Company |
| Shares | 24,200 |
| Max Price | S$0.69 |
| Entity | Company |
| Shares | 34,400 |
| Max Price | S$0.69 |
| Entity | Company |
| Shares | 139,900 |
| Max Price | S$0.69 |
| Entity | Company |
| Shares | 4,900 |
| Max Price | S$0.69 |
| Entity | Individual |
| Shares | 21,419,000 |
| Max Price | S$0.65 |
| Entity | Company |
| Shares | 46,219,000 |
| Max Price | S$0.65 |
| Entity | Company |
| Shares | 46,975,000 |
| Max Price | S$0.65 |
| Entity | Company |
| Shares | 37,500,000 |
| Max Price | S$0.68 |
| Entity | Company |
| Shares | 17,900 |
| Max Price | S$0.70 |
| Entity | Company |
| Shares | 20,000 |
| Max Price | S$0.70 |
| Entity | Company |
| Shares | 11,800 |
| Max Price | S$0.70 |
| Entity | Company |
| Shares | 10,000 |
| Max Price | S$0.70 |
| Entity | Company |
| Shares | 40,000 |
| Max Price | S$0.70 |
| Entity | Company |
| Shares | 20,000 |
| Max Price | S$0.70 |
| Entity | Company |
| Shares | 16,800 |
| Max Price | S$0.70 |
| Entity | Company |
| Shares | 90,500 |
| Max Price | S$0.70 |
| Entity | Company |
| Shares | 2,600 |
| Max Price | S$0.70 |
| Entity | Company |
| Shares | 30,500 |
| Max Price | S$0.70 |
| Entity | Company |
| Shares | 700 |
| Max Price | S$0.70 |
| Entity | Company |
| Shares | 7,200 |
| Max Price | S$0.71 |
| Entity | Company |
| Shares | 60,300 |
| Max Price | S$0.70 |
| Entity | Company |
| Shares | 1,500 |
| Max Price | S$0.70 |
| Entity | Company |
| Shares | 30,000 |
| Max Price | S$0.70 |
| Entity | Company |
| Shares | 44,900 |
| Max Price | S$0.70 |
| Entity | Company |
| Shares | 53,000 |
| Max Price | S$0.70 |
| Entity | Company |
| Shares | 80,000 |
| Max Price | S$0.70 |
| Entity | Company |
| Shares | 30,000 |
| Max Price | S$0.70 |
| Entity | Company |
| Shares | 55,700 |
| Max Price | S$0.70 |
| Entity | Company |
| Shares | 57,700 |
| Max Price | S$0.70 |
| Entity | Company |
| Shares | 43,200 |
| Max Price | S$0.70 |
| Entity | Company |
| Shares | 38,500 |
| Max Price | S$0.70 |
| Entity | Company |
| Shares | 46,900 |
| Max Price | S$0.70 |
| Entity | Company |
| Shares | 80,000 |
| Max Price | S$0.70 |
| Entity | Company |
| Shares | 15,000 |
| Max Price | S$0.70 |
| Entity | Company |
| Shares | 45,200 |
| Max Price | S$0.71 |
| Entity | Company |
| Shares | 46,000 |
| Max Price | S$0.71 |
| Entity | Company |
| Shares | 30,000 |
| Max Price | S$0.70 |
| Entity | Company |
| Shares | 60,000 |
| Max Price | S$0.70 |
| Entity | Company |
| Shares | 43,200 |
| Max Price | S$0.71 |
| Entity | Company |
| Shares | 33,000 |
| Max Price | S$0.70 |
| Entity | Company |
| Shares | 15,900 |
| Max Price | S$0.70 |
| Entity | Company |
| Shares | 10,000 |
| Max Price | S$0.70 |
| Entity | Company |
| Shares | 41,000 |
| Max Price | S$0.72 |
| Entity | Company |
| Shares | 625,000 |
| Max Price | S$0.70 |
| Entity | Company |
| Shares | 600,000 |
| Max Price | S$0.68 |
| Entity | Individual |
| Role | Chairman of the Board Chairman of the Board of BHG Retail Trust Management Pte Ltd |
| Shares | 625,000 |
| Max Price | S$0.70 |
| Entity | Company |
| Shares | 10,600 |
| Max Price | S$0.70 |
| Entity | Company |
| Shares | 33,000 |
| Max Price | S$0.70 |
| Entity | Company |
| Shares | 29,700 |
| Max Price | S$0.69 |
| Entity | Company |
| Shares | 70,300 |
| Max Price | S$0.71 |
| Entity | Company |
| Shares | 100,300 |
| Max Price | S$0.71 |
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Management Team
Iz-Lynn Chan
Head of Investor Relations & CEO of BHG Retail Trust Management Pte Ltd
Nigel Nai Zi
Investor Relations Manager of BHG Retail Trust Management Pte Ltd
- Tenure: 4yrs
Lee Noi Kiar
Company Secretary of BHG Retail Trust Management Pte Ltd
- Tenure: 2.6yrs
Victor Hock
Chief Financial Officer of BHG Retail Trust Management Pte Ltd
- Tenure: 2yrs
Eric Liu
Investment & Asset Management Manager of BHG Retail Trust Management Pte Ltd
- Tenure: 2yrs
Isaac Lian
Senior Compliance Manager of BHG Retail Trust Management Pte. Ltd.
- Tenure: 1yrs
Board Members
Ben Yeo (67yo)
Independent Director of BHG Retail Trust Management Pte Ltd
- Tenure: 4.9yrs
- Compensation: S$87.00k
Teck Sien Lau (47yo)
Independent Director of BHG Retail Trust Management Pte Ltd
- Tenure: 4.2yrs
- Compensation: S$85.00k
Francis Siu (65yo)
Chairman of the Board of BHG Retail Trust Management Pte Ltd
- Tenure: 4.2yrs
- Compensation: S$98.00k
Ge Peng (47yo)
Non-Executive Director of BHG Retail Trust Management Pte Ltd
- Tenure: 4.2yrs
Zhen Xiong (44yo)
Non-Executive Director of BHG Retail Trust Management Pte Ltd
- Tenure: 4.2yrs
Company Information
BHG Retail REIT's company bio, employee growth, exchange listings and data sources
Key Information
- Name: BHG Retail REIT
- Ticker: BMGU
- Exchange: SGX
- Founded:
- Industry: Retail REITs
- Sector: Real Estate
- Market Cap: S$345.751m
- Shares outstanding: 508.46m
- Website: https://www.bhgreit.com
Location
- BHG Retail REIT
- No. 25-11 Shaw Tower
- 100 Beach Road
- Singapore
- 189702
- Singapore
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| BMGU | SGX (Singapore Exchange) | Yes | Units | SG | SGD | Dec 2015 |
Biography
BHG Retail REIT is the first pure-play China Retail REIT sponsored by a leading China integrated retail group. The REIT was listed on the Main Board of the Singapore Exchange Securities Trading Limited on 11 December 2015. The principal investment strategy of BHG Retail REIT is to invest, directly or indirectly, in a diversified portfolio of income-producing real estate which is used primarily for retail purposes (whether either wholly or partially), as well as real estate-related assets in relation to the foregoing, with an initial focus on China. As at 30 September 2019, the REIT’s portfolio comprises six retail properties, Beijing Wanliu (60%), Chengdu Konggang, Hefei Mengchenglu, Hefei Changjiangxilu, Xining Huayuan, Dalian Jinsanjiao located in Tier 1, Tier 2 and other cities of significant economic potential in China. The portfolio gross floor area of about 311,691 sqm, has a committed occupancy of 98.6% as at 30 September 2019.Â
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/01/26 13:14 |
| End of Day Share Price | 2020/01/24 00:00 |
| Earnings | 2019/09/30 |
| Annual Earnings | 2018/12/31 |
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.