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.

Risks

  • BHG Retail REIT is not covered by any analysts.

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

0%

SGX:BMGU

0.5%

SG REITs

-0.7%

SG Market


1 Year Return

-4.2%

SGX:BMGU

12.9%

SG REITs

-1.5%

SG Market

BMGU underperformed the REITs industry which returned 12.8% over the past year.

BMGU underperformed the Market in Singapore which returned -0.2% over the past year.


Share holder returns

BMGUIndustryMarket
7 Day0%0.5%-0.7%
30 Day-2.9%1.7%0.6%
90 Day-3.5%1.2%-4.3%
1 Year2.1%-4.2%20.3%12.9%2.5%-1.5%
3 Year23.8%0%42.7%18.0%16.5%4.1%
5 Yearn/a61.2%16.1%9.3%-8.8%

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 based on future cash flows and its price relative to the stock market?

40%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

BHG Retail REIT's share price is below the future cash flow value, and at a moderate discount (> 20%).

BHG Retail REIT's share price is below the future cash flow value, but not at a substantial discount (< 40%).


Price Based on Earnings

BHG Retail REIT is good value based on earnings compared to the SG REITs industry average.

BHG Retail REIT is good value based on earnings compared to the Singapore market.


Price Based on Expected Growth

Unable to calculate PEG ratio for BHG Retail REIT, we can't assess if its growth is good value.


Price Based on Value of Assets

BHG Retail REIT is good value based on assets compared to the SG REITs industry average.


Next Steps

Future Growth

How is BHG Retail REIT expected 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 Estimates


Future Annual Growth Analysis

Unable to determine if BHG Retail REIT is high growth as no revenue estimate data is available.

BHG Retail REIT's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.

Unable to compare BHG Retail REIT's revenue growth to the Singapore market average as no estimate data is available.

BHG Retail REIT's earnings are expected to decrease over the next 1-3 years, this is below the Singapore market average.

BHG Retail REIT's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.3%.


Earnings per Share Growth Estimates


Future Return on Equity

Unable to establish if BHG Retail REIT will efficiently use shareholders’ funds in the future without estimates of Return on Equity.


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

BHG Retail REIT's year on year earnings growth rate has been positive over the past 5 years.

BHG Retail REIT's 1-year earnings growth exceeds its 5-year average (148% vs 6.4%)

BHG Retail REIT's earnings growth has exceeded the SG REITs industry average in the past year (148% vs -1.8%).


Return on Equity

BHG Retail REIT has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

BHG Retail REIT used its assets more efficiently than the SG REITs industry average last year based on Return on Assets.


Return on Capital Employed

BHG Retail REIT has improved its use of capital last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is BHG Retail REIT's financial position?


Financial Position Analysis

BHG Retail REIT is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

BHG Retail REIT's long term commitments exceed its cash and other short term assets.


Debt to Equity History and Analysis

BHG Retail REIT's level of debt (49.2%) compared to net worth is high (greater than 40%).

Unable to establish if BHG Retail REIT's debt level has increased without past 5-year debt data.

Debt is not well covered by operating cash flow (12.5%, less than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 3.9x coverage).


Balance Sheet

High level of physical assets or inventory.

Debt is not covered by short term assets, assets are 0.3x debt.


Next Steps

Dividend

What is BHG Retail REIT's current dividend yield, its reliability and sustainability?

7.59%

Current Dividend Yield


Dividend Yield and Payments Analysis

BHG Retail REIT's pays a higher dividend yield than the bottom 25% of dividend payers in Singapore (2.5%).

BHG Retail REIT's dividend is above the markets top 25% of dividend payers in Singapore (5.6%).

BHG Retail REIT has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).

Dividend payments have increased, but BHG Retail REIT only paid a dividend in the past 3 years.


Current Payout to Shareholders

Dividends paid are covered by earnings (1.9x coverage).


Future Payout to Shareholders

Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.


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

The average tenure for the BHG Retail REIT management team is less than 2 years, this suggests a new team.


Board Age and Tenure

3.8yrs

Average Tenure

51.5yo

Average Age

The tenure for the BHG Retail REIT board of directors is about average.


Insider Trading

No 3 month open market individual insider trading information.


Recent Insider Transactions

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: 3.7yrs
  • 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: 1.7yrs
  • Eric Liu

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

    • Tenure: 1.7yrs

Board Members

  • Ben Yeo (67yo)

    Independent Director of BHG Retail Trust Management Pte Ltd

    • Tenure: 4.6yrs
    • Compensation: S$87.00k
  • Teck Sien Lau (47yo)

    Independent Director of BHG Retail Trust Management Pte Ltd

    • Tenure: 3.8yrs
    • Compensation: S$85.00k
  • Francis Siu (65yo)

    Chairman of the Board of BHG Retail Trust Management Pte Ltd

    • Tenure: 3.8yrs
    • Compensation: S$98.00k
  • Ge Peng (47yo)

    Non-Executive Director of BHG Retail Trust Management Pte Ltd

    • Tenure: 3.8yrs
  • Zhen Xiong (44yo)

    Non-Executive Director of BHG Retail Trust Management Pte Ltd

    • Tenure: 3.8yrs
  • Feng Yang (56yo)

    Non-Executive Director of BHG Retail Trust Management Pte Ltd

    • Tenure: 2.4yrs

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$345.058m
  • 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 Analysis2019/09/18 12:54
End of Day Share Price2019/09/16 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.