SGX:BMGU

Stock Analysis Report

Executive Summary

BHG Retail REIT is the first pure-play China Retail REIT sponsored by a leading China integrated retail group.

Snowflake

Fundamentals

Solid track record and good value.

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


Market Performance


7 Day Return

-1.4%

BMGU

1.5%

SG REITs

0.9%

SG Market


1 Year Return

0%

BMGU

19.4%

SG REITs

1.4%

SG Market

Return vs Industry: BMGU underperformed the SG REITs industry which returned 19.4% over the past year.

Return vs Market: BMGU matched the SG Market which returned 1.4% over the past year.


Shareholder returns

BMGUIndustryMarket
7 Day-1.4%1.5%0.9%
30 Day1.5%1.8%-2.3%
90 Day-2.1%0.8%-6.7%
1 Year6.6%0%26.7%19.4%5.4%1.4%
3 Year36.6%10.4%45.3%20.0%15.8%3.4%
5 Yearn/a63.4%17.6%11.3%-7.0%

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

Valuation

Is BHG Retail REIT undervalued compared to its fair value and its price relative to the market?

38.9%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: BMGU (SGD0.69) is trading below our estimate of fair value (SGD1.13)

Significantly Undervalued: BMGU is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: BMGU is good value based on its PE Ratio (6.4x) compared to the REITs industry average (15.7x).

PE vs Market: BMGU is good value based on its PE Ratio (6.4x) compared to the SG market (13.4x).


Price to Earnings Growth Ratio

Low 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 (0.8x) 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?

-3.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BMGU's earnings are forecast to decline over the next 3 years (-3.8% per year).

Earnings vs Market: BMGU's earnings are forecast to decline over the next 3 years (-3.8% per year).

High Growth Earnings: BMGU's earnings are forecast to decline over the next 3 years.

Revenue vs Market: Insufficient data to determine if BMGU's revenue is forecast to grow faster than the SG market.

High Growth Revenue: Insufficient data to determine if BMGU's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: Insufficient data to determine if BMGU's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has BHG Retail REIT performed over the past 5 years?

6.4%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: BMGU's earnings have grown by 6.4% per year over the past 5 years.

Accelerating Growth: BMGU's earnings growth over the past year (148%) exceeds its 5-year average (6.4% per year).

Earnings vs Industry: BMGU earnings growth over the past year (148%) exceeded the REITs industry 0.3%.


Return on Equity

High ROE: BMGU's Return on Equity (11.5%) is considered low.


Return on Assets

ROA vs Industry: BMGU has a higher Return on Assets than the REITs industry average last year.


Return on Capital Employed

ROCE Improving: BMGU has improved its Return on Capital Employed over the past 3 years.


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 0.3x 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?

7.48%

Current Dividend Yield


Dividend Yield vs Market

company7.5%marketbottom25%2.5%markettop25%5.6%industryaverage5.2%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: BMGU's dividend (7.48%) is higher than the bottom 25% of dividend payers in the SG market (2.5%).

High Dividend: BMGU's dividend (7.48%) is in the top 25% of dividend payers in the SG market (5.59%)

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 3 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (53.4%), BMGU's dividend payments are 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

0

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

3.9yrs

Average Tenure

51.5yo

Average Age

Experienced Board: BMGU's board of directors are considered experienced (3.9 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

SellS$30,533,74924 Sep 19
CMS Asset Management (HK) Co., Ltd.
EntityCompany
Shares46,975,000
Max PriceS$0.65
SellS$25,500,02130 Aug 19
CMS Asset Management (HK) Co., Ltd.
EntityCompany
Shares37,500,000
Max PriceS$0.68
SellS$12,53030 Aug 19
BHG Retail Trust Management Pte Ltd
EntityCompany
Shares17,900
Max PriceS$0.70
SellS$14,00027 Aug 19
BHG Retail Trust Management Pte Ltd
EntityCompany
Shares20,000
Max PriceS$0.70
SellS$8,26026 Aug 19
BHG Retail Trust Management Pte Ltd
EntityCompany
Shares11,800
Max PriceS$0.70
SellS$7,00026 Aug 19
BHG Retail Trust Management Pte Ltd
EntityCompany
Shares10,000
Max PriceS$0.70
SellS$28,00022 Aug 19
BHG Retail Trust Management Pte Ltd
EntityCompany
Shares40,000
Max PriceS$0.70
SellS$14,00021 Aug 19
BHG Retail Trust Management Pte Ltd
EntityCompany
Shares20,000
Max PriceS$0.70
SellS$11,76015 Aug 19
BHG Retail Trust Management Pte Ltd
EntityCompany
Shares16,800
Max PriceS$0.70
SellS$63,40424 Jul 19
BHG Retail Trust Management Pte Ltd
EntityCompany
Shares90,500
Max PriceS$0.70
SellS$1,82023 Jul 19
BHG Retail Trust Management Pte Ltd
EntityCompany
Shares2,600
Max PriceS$0.70
SellS$21,35322 Jul 19
BHG Retail Trust Management Pte Ltd
EntityCompany
Shares30,500
Max PriceS$0.70
SellS$49319 Jul 19
BHG Retail Trust Management Pte Ltd
EntityCompany
Shares700
Max PriceS$0.70
SellS$5,07618 Jul 19
BHG Retail Trust Management Pte Ltd
EntityCompany
Shares7,200
Max PriceS$0.71
SellS$42,36117 Jul 19
BHG Retail Trust Management Pte Ltd
EntityCompany
Shares60,300
Max PriceS$0.70
BuyS$1,05016 Jul 19
BHG Retail Trust Management Pte Ltd
EntityCompany
Shares1,500
Max PriceS$0.70
SellS$21,00015 Jul 19
BHG Retail Trust Management Pte Ltd
EntityCompany
Shares30,000
Max PriceS$0.70
SellS$31,43012 Jul 19
BHG Retail Trust Management Pte Ltd
EntityCompany
Shares44,900
Max PriceS$0.70
SellS$37,10011 Jul 19
BHG Retail Trust Management Pte Ltd
EntityCompany
Shares53,000
Max PriceS$0.70
SellS$56,00010 Jul 19
BHG Retail Trust Management Pte Ltd
EntityCompany
Shares80,000
Max PriceS$0.70
SellS$21,00009 Jul 19
BHG Retail Trust Management Pte Ltd
EntityCompany
Shares30,000
Max PriceS$0.70
SellS$39,11808 Jul 19
BHG Retail Trust Management Pte Ltd
EntityCompany
Shares55,700
Max PriceS$0.70
SellS$40,54005 Jul 19
BHG Retail Trust Management Pte Ltd
EntityCompany
Shares57,700
Max PriceS$0.70
SellS$30,45604 Jul 19
BHG Retail Trust Management Pte Ltd
EntityCompany
Shares43,200
Max PriceS$0.70
SellS$26,96903 Jul 19
BHG Retail Trust Management Pte Ltd
EntityCompany
Shares38,500
Max PriceS$0.70
SellS$32,88202 Jul 19
BHG Retail Trust Management Pte Ltd
EntityCompany
Shares46,900
Max PriceS$0.70
SellS$56,01601 Jul 19
BHG Retail Trust Management Pte Ltd
EntityCompany
Shares80,000
Max PriceS$0.70
SellS$10,57528 Jun 19
BHG Retail Trust Management Pte Ltd
EntityCompany
Shares15,000
Max PriceS$0.70
SellS$31,86627 Jun 19
BHG Retail Trust Management Pte Ltd
EntityCompany
Shares45,200
Max PriceS$0.71
SellS$32,43025 Jun 19
BHG Retail Trust Management Pte Ltd
EntityCompany
Shares46,000
Max PriceS$0.71
SellS$21,15024 Jun 19
BHG Retail Trust Management Pte Ltd
EntityCompany
Shares30,000
Max PriceS$0.70
SellS$42,30021 Jun 19
BHG Retail Trust Management Pte Ltd
EntityCompany
Shares60,000
Max PriceS$0.70
SellS$30,45620 Jun 19
BHG Retail Trust Management Pte Ltd
EntityCompany
Shares43,200
Max PriceS$0.71
SellS$23,26518 Jun 19
BHG Retail Trust Management Pte Ltd
EntityCompany
Shares33,000
Max PriceS$0.70
SellS$11,17912 Jun 19
BHG Retail Trust Management Pte Ltd
EntityCompany
Shares15,900
Max PriceS$0.70
SellS$7,00006 Jun 19
BHG Retail Trust Management Pte Ltd
EntityCompany
Shares10,000
Max PriceS$0.70
SellS$29,52028 May 19
BHG Retail Trust Management Pte Ltd
EntityCompany
Shares41,000
Max PriceS$0.72
BuyS$437,50018 Apr 19
Beijing Hualian Department Store Co., Ltd
EntityCompany
Shares625,000
Max PriceS$0.70
SellS$411,00018 Apr 19
BHG Retail Trust Management Pte Ltd
EntityCompany
Shares600,000
Max PriceS$0.68
SellS$437,50018 Apr 19
Wai Keung Siu
EntityIndividual
Role
Chairman of the Board
Chairman of the Board of BHG Retail Trust Management Pte Ltd
Shares625,000
Max PriceS$0.70
SellS$7,42015 Apr 19
BHG Retail Trust Management Pte Ltd
EntityCompany
Shares10,600
Max PriceS$0.70
SellS$23,16310 Apr 19
BHG Retail Trust Management Pte Ltd
EntityCompany
Shares33,000
Max PriceS$0.70
SellS$20,64209 Apr 19
BHG Retail Trust Management Pte Ltd
EntityCompany
Shares29,700
Max PriceS$0.69
SellS$50,26522 Mar 19
BHG Retail Trust Management Pte Ltd
EntityCompany
Shares70,300
Max PriceS$0.71
SellS$71,71507 Mar 19
BHG Retail Trust Management Pte Ltd
EntityCompany
Shares100,300
Max PriceS$0.71
SellS$20,70023 Jan 19
BHG Retail Trust Management Pte Ltd
EntityCompany
Shares30,000
Max PriceS$0.69
SellS$1,31122 Jan 19
BHG Retail Trust Management Pte Ltd
EntityCompany
Shares1,900
Max PriceS$0.69
SellS$2,69116 Jan 19
BHG Retail Trust Management Pte Ltd
EntityCompany
Shares3,900
Max PriceS$0.69

Ownership Breakdown


Management Team

  • Iz-Lynn Chan

    Head of Investor Relations & CEO of BHG Retail Trust Management Pte Ltd

    • Tenure: 0yrs
  • Nigel Nai Zi

    Investor Relations Manager of BHG Retail Trust Management Pte Ltd

    • Tenure: 3.8yrs
  • Lee Noi Kiar

    Company Secretary of BHG Retail Trust Management Pte Ltd

    • Tenure: 2.3yrs
  • Victor Hock

    Chief Financial Officer of BHG Retail Trust Management Pte Ltd

    • Tenure: 1.8yrs
  • Eric Liu

    Investment & Asset Management Manager of BHG Retail Trust Management Pte Ltd

    • Tenure: 1.8yrs

Board Members

  • Ben Yeo (67yo)

    Independent Director of BHG Retail Trust Management Pte Ltd

    • Tenure: 4.7yrs
    • Compensation: S$87.00k
  • Teck Sien Lau (47yo)

    Independent Director of BHG Retail Trust Management Pte Ltd

    • Tenure: 3.9yrs
    • Compensation: S$85.00k
  • Francis Siu (65yo)

    Chairman of the Board of BHG Retail Trust Management Pte Ltd

    • Tenure: 3.9yrs
    • Compensation: S$98.00k
  • Ge Peng (47yo)

    Non-Executive Director of BHG Retail Trust Management Pte Ltd

    • Tenure: 3.9yrs
  • Zhen Xiong (44yo)

    Non-Executive Director of BHG Retail Trust Management Pte Ltd

    • Tenure: 3.9yrs
  • Feng Yang (56yo)

    Non-Executive Director of BHG Retail Trust Management Pte Ltd

    • Tenure: 2.5yrs

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$350.132m
  • Shares outstanding: 507.44m
  • Website: https://www.bhgreit.com

Location

  • BHG Retail REIT
  • No. 25-11 Shaw Tower
  • 100 Beach Road
  • Singapore
  • 189702
  • Singapore

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BMGUSGX (Singapore Exchange)YesUnitsSGSGDDec 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  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/14 12:52
End of Day Share Price2019/10/11 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.