company background image
BUOU

Frasers Logistics & Commercial TrustSGX:BUOU Stock Report

Last Price

S$1.45

Market Cap

S$5.3b

7D

0%

1Y

0.7%

Updated

20 Jan, 2022

Data

Company Financials +
BUOU fundamental analysis
Snowflake Score
Valuation4/6
Future Growth0/6
Past Performance4/6
Financial Health1/6
Dividends2/6

BUOU Stock Overview

Frasers Logistics & Commercial Trust (“FLCT”) is a Singapore-listed real estate investment trust with a portfolio comprising 100 industrial and commercial properties, worth approximately S$6.2 billion, diversified across five major developed markets – Australia, Germany, Singapore, the United Kingdom and the Netherlands.

Frasers Logistics & Commercial Trust Competitors

Mapletree Logistics Trust

SGX:M44U

S$8.3b

Mapletree Industrial Trust

SGX:ME8U

S$7.0b

ARA LOGOS Logistics Trust

SGX:K2LU

S$1.3b

EC World Real Estate Investment Trust

SGX:BWCU

S$590.9m

Price History & Performance

Summary of all time highs, changes and price drops for Frasers Logistics & Commercial Trust
Historical stock prices
Current Share PriceS$1.45
52 Week HighS$1.54
52 Week LowS$1.33
Beta0.88
1 Month Change-2.69%
3 Month Change-2.69%
1 Year Change0.69%
3 Year Change36.79%
5 Year Change55.08%
Change since IPO59.34%

Recent News & Updates

Jul 04
With EPS Growth And More, Frasers Logistics & Commercial Trust (SGX:BUOU) Is Interesting

With EPS Growth And More, Frasers Logistics & Commercial Trust (SGX:BUOU) Is Interesting

It's only natural that many investors, especially those who are new to the game, prefer to buy shares in 'sexy' stocks...

Shareholder Returns

BUOUSG REITsSG Market
7D0%0.6%0.4%
1Y0.7%-6.3%3.7%

Return vs Industry: BUOU exceeded the SG REITs industry which returned -6.3% over the past year.

Return vs Market: BUOU underperformed the SG Market which returned 3.7% over the past year.

Price Volatility

Is BUOU's price volatile compared to industry and market?
BUOU volatility
BUOU Average Weekly Movement2.3%
REITs Industry Average Movement2.3%
Market Average Movement4.6%
10% most volatile stocks in SG Market12.2%
10% least volatile stocks in SG Market2.1%

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

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

About the Company

FoundedEmployeesCEOWebsite
201522Robert Stuart Claude Wallacehttps://www.frasersproperty.com/reits/flct

Frasers Logistics & Commercial Trust (“FLCT”) is a Singapore-listed real estate investment trust with a portfolio comprising 100 industrial and commercial properties, worth approximately S$6.2 billion, diversified across five major developed markets – Australia, Germany, Singapore, the United Kingdom and the Netherlands. FLCT was listed on the Mainboard of Singapore Exchange Securities Trading Limited (“SGX-ST”) on 20 June 2016 as Frasers Logistics & Industrial Trust and was subsequently renamed Frasers Logistics & Commercial Trust on 29 April 2020 following the completion of a merger with Frasers Commercial Trust. FLCT’s investment strategy is to invest globally in a diversified portfolio of income-producing properties used predominantly for logistics or industrial purposes located globally, or commercial purposes (comprising primarily CBD office space) or business park purposes (comprising primarily non-CBD office space and/or research and development space) located in the Asia-Pacific region or in Europe (including the United Kingdom).

Frasers Logistics & Commercial Trust Fundamentals Summary

How do Frasers Logistics & Commercial Trust's earnings and revenue compare to its market cap?
BUOU fundamental statistics
Market CapS$5.34b
Earnings (TTM)S$731.11m
Revenue (TTM)S$469.33m

7.3x

P/E Ratio

11.4x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
BUOU income statement (TTM)
RevenueS$469.33m
Cost of RevenueS$142.29m
Gross ProfitS$327.04m
Expenses-S$404.06m
EarningsS$731.11m

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.20
Gross Margin69.68%
Net Profit Margin155.78%
Debt/Equity Ratio54.6%

How did BUOU perform over the long term?

See historical performance and comparison

Dividends

5.4%

Current Dividend Yield

97%

Payout Ratio

Valuation

Is Frasers Logistics & Commercial Trust undervalued compared to its fair value and its price relative to the market?

34.9%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: BUOU (SGD1.45) is trading below our estimate of fair value (SGD2.23)

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


Price To Earnings Ratio

PE vs Industry: BUOU is good value based on its PE Ratio (7.3x) compared to the SG REITs industry average (19.7x).

PE vs Market: BUOU is good value based on its PE Ratio (7.3x) compared to the SG market (13.3x).


Price to Earnings Growth Ratio

PEG Ratio: BUOU's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

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


Future Growth

How is Frasers Logistics & Commercial Trust forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?

-34.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BUOU's earnings are forecast to decline over the next 3 years (-34.5% per year).

Earnings vs Market: BUOU's earnings are forecast to decline over the next 3 years (-34.5% per year).

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

Revenue vs Market: BUOU's revenue (2.9% per year) is forecast to grow slower than the SG market (7.8% per year).

High Growth Revenue: BUOU's revenue (2.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BUOU's Return on Equity is forecast to be low in 3 years time (6.4%).


Past Performance

How has Frasers Logistics & Commercial Trust performed over the past 5 years?

43.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BUOU has a large one-off gain of SGD606.2M impacting its September 30 2021 financial results.

Growing Profit Margin: BUOU's current net profit margins are higher than last year .


Past Earnings Growth Analysis

Earnings Trend: BUOU's earnings have grown significantly by 43.9% per year over the past 5 years.

Accelerating Growth: BUOU's earnings growth over the past year (60.8%) exceeds its 5-year average (43.9% per year).

Earnings vs Industry: BUOU earnings growth over the past year (60.8%) exceeded the REITs industry 11.2%.


Return on Equity

High ROE: BUOU's Return on Equity (16%) is considered low.


Financial Health

How is Frasers Logistics & Commercial Trust's financial position?


Financial Position Analysis

Short Term Liabilities: BUOU's short term assets (SGD181.2M) do not cover its short term liabilities (SGD360.7M).

Long Term Liabilities: BUOU's short term assets (SGD181.2M) do not cover its long term liabilities (SGD2.7B).


Debt to Equity History and Analysis

Debt Level: BUOU's net debt to equity ratio (51.6%) is considered high.

Reducing Debt: BUOU's debt to equity ratio has increased from 39.4% to 54.6% over the past 5 years.

Debt Coverage: BUOU's debt is not well covered by operating cash flow (12%).

Interest Coverage: BUOU's interest payments on its debt are well covered by EBIT (7.1x coverage).


Balance Sheet


Dividend

What is Frasers Logistics & Commercial Trust current dividend yield, its reliability and sustainability?

5.35%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: BUOU's dividend (5.35%) is higher than the bottom 25% of dividend payers in the SG market (2%).

High Dividend: BUOU's dividend (5.35%) is low compared to the top 25% of dividend payers in the SG market (5.52%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, BUOU has been paying a dividend for less than 10 years.

Growing Dividend: BUOU's dividend payments have increased, but the company has only paid a dividend for 5 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (96.5%), BUOU's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: BUOU's dividends in 3 years are not forecast to be well covered by earnings (110.6% payout ratio).


Next Steps

Management

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

3.0yrs

Average management tenure


CEO

Robert Stuart Claude Wallace (49 yo)

no data

Tenure

Mr. Robert Stuart Claude Wallace is Chief Executive Officer of Frasers Logistics & Industrial Asset Management Pte. Ltd., is a Manager of Frasers Logistics & Commercial Trust (the "Company"). Prior to join...


Leadership Team

Experienced Management: BUOU's management team is considered experienced (3 years average tenure).


Board Members

Experienced Board: BUOU's board of directors are not considered experienced ( 2.9 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 7.7%.


Top Shareholders

Company Information

Frasers Logistics & Commercial Trust's employee growth, exchange listings and data sources


Key Information

  • Name: Frasers Logistics & Commercial Trust
  • Ticker: BUOU
  • Exchange: SGX
  • Founded: 2015
  • Industry: Industrial REITs
  • Sector: Real Estate
  • Implied Market Cap: S$5.345b
  • Shares outstanding: 3.69b
  • Website: https://www.frasersproperty.com/reits/flct

Number of Employees


Location

  • Frasers Logistics & Commercial Trust
  • 438 Alexandra Road
  • No. 21-00 Alexandra Point
  • Singapore
  • 119958
  • Singapore

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/01/20 16:14
End of Day Share Price2022/01/20 00:00
Earnings2021/09/30
Annual Earnings2021/09/30


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.