SGX:BUOU

Stock Analysis Report

Frasers Logistics & Industrial Trust

Executive Summary

Frasers Property Limited ("Frasers Property" or the “Company”), is a multi-national company that owns, develops and manages a diverse, integrated portfolio of properties.

Snowflake

Fundamentals

Solid track record unattractive dividend payer.

Share Price & News

How has Frasers Logistics & Industrial Trust's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

0.8%

BUOU

-0.2%

SG REITs

-0.002%

SG Market


1 Year Return

21.0%

BUOU

18.0%

SG REITs

0.6%

SG Market

Return vs Industry: BUOU exceeded the SG REITs industry which returned 18% over the past year.

Return vs Market: BUOU exceeded the SG Market which returned 0.6% over the past year.


Shareholder returns

BUOUIndustryMarket
7 Day0.8%-0.2%-0.002%
30 Day5.8%0.4%-1.5%
90 Day5.8%1.3%-6.8%
1 Year30.4%21.0%25.2%18.0%4.7%0.6%
3 Year58.8%29.6%44.3%19.1%15.1%2.7%
5 Yearn/a60.5%15.7%10.1%-8.2%

Price Volatility Vs. Market

How volatile is Frasers Logistics & Industrial Trust's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

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

16.01x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: BUOU (SGD1.27) is trading above our estimate of fair value (SGD1.26)

Significantly Below Fair Value: BUOU is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: BUOU is poor value based on its PE Ratio (16x) compared to the REITs industry average (15.7x).

PE vs Market: BUOU is poor value based on its PE Ratio (16x) compared to the SG market (13.5x).


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 (1.4x) compared to the SG REITs industry average (1x).


Next Steps

Future Growth

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

-4.2%

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 (-4.2% per year).

Earnings vs Market: BUOU's earnings are forecast to decline over the next 3 years (-4.2% per year).

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

Revenue vs Market: BUOU's revenue (2.7% per year) is forecast to grow slower than the SG market (5.4% per year).

High Growth Revenue: BUOU's revenue (2.7% 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 (7.3%).


Next Steps

Past Performance

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

18.6%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: BUOU's earnings have grown by 18.6% per year over the past 5 years.

Accelerating Growth: BUOU's earnings growth over the past year (56.5%) exceeds its 5-year average (18.6% per year).

Earnings vs Industry: BUOU earnings growth over the past year (56.5%) exceeded the REITs industry 0.3%.


Return on Equity

High ROE: BUOU's Return on Equity (8.9%) is considered low.


Return on Assets

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


Return on Capital Employed

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


Next Steps

Financial Health

How is Frasers Logistics & Industrial Trust'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: BUOU has a high level of physical assets or inventory.

Debt Coverage by Assets: BUOU's debt is not covered by short term assets (assets are 0.2x debt).


Financial Institutions Analysis

Asset Level: BUOU's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if BUOU has a sufficient allowance for bad loans.

Low Risk Liabilities: BUOU reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if BUOU has an acceptable proportion of non-loan assets held.

Low Risk Deposits: BUOU has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if BUOU has an appropriate level of bad loans.


Next Steps

  • Explore more healthy companies in the Real Estate industry.

Dividend

What is Frasers Logistics & Industrial Trust's current dividend yield, its reliability and sustainability?

5.42%

Current Dividend Yield


Dividend Yield vs Market

company5.4%marketbottom25%2.6%markettop25%5.7%industryaverage5.3%forecastin3Years5.3%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: BUOU's dividend (5.42%) is higher than the bottom 25% of dividend payers in the SG market (2.55%).

High Dividend: BUOU's dividend (5.42%) is low compared to the top 25% of dividend payers in the SG market (5.71%).

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 3 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (90.6%), 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 (105.5% payout ratio).


Next Steps

Management

What is the CEO of Frasers Logistics & Industrial Trust's salary, the management and board of directors tenure and is there insider trading?

2.8yrs

Average management tenure


CEO

Robert Stuart Wallace (47yo)

0yrs

Tenure

0

Mr. Robert Stuart Claude Wallace is Chief Executive Officer of Frasers Logistics & Industrial Trust (the "Company"). Prior to joining the Company, Mr. Wallace was the Executive General Manager of Investmen ...


Management Age and Tenure

2.8yrs

Average Tenure

45yo

Average Age

Experienced Management: BUOU's management team is considered experienced (2.8 years average tenure).


Board Age and Tenure

3.4yrs

Average Tenure

59yo

Average Age

Experienced Board: BUOU's board of directors are considered experienced (3.4 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

BuyAU$50,000,31313 Aug 19
Rojana Industrial Park Public Company Limited
EntityCompany
Shares42,626,000
Max PriceAU$1.17
BuyAU$969,13306 May 19
Frasers Logistics & Industrial Asset Management Pte. Ltd.
EntityCompany
Shares1,700,225
Max PriceAU$0.57
BuyAU$1,967,16106 May 19
FLT Australia Management Pty Ltd
EntityCompany
Shares837,626
Max PriceAU$2.35
SellAU$969,13306 May 19
Frasers Logistics & Industrial Asset Management Pte. Ltd.
EntityCompany
Shares1,700,225
Max PriceAU$0.57
SellAU$1,967,16106 May 19
FLT Australia Management Pty Ltd
EntityCompany
Shares837,626
Max PriceAU$2.35
SellAU$2,983,27503 May 19
PPM America, Inc
EntityCompany
Shares2,528,200
Max PriceAU$1.18
BuyAU$9,895,48806 Mar 19
PPM America, Inc
EntityCompany
Shares8,779,600
Max PriceAU$1.13
SellAU$7,700,00412 Feb 19
PPM America, Inc
EntityCompany
Shares7,000,000
Max PriceAU$1.10
BuyAU$323,61217 Jan 19
PPM America, Inc
EntityCompany
Shares2,012,200
Max PriceAU$0.16

Ownership Breakdown


Management Team

  • Susanna Cher (59yo)

    Chief Financial Officer

    • Tenure: 6.3yrs
  • Robert Stuart Wallace (47yo)

    Chief Executive Officer

    • Tenure: 0yrs
  • Annie Khung (43yo)

    Financial Controller

    • Tenure: 0yrs
  • Catherine Yeo

    Company Secretary of Frasers Logistics & Industrial Asset Management Pte. Ltd

    • Tenure: 0yrs
  • James Jonathan Spong (42yo)

    General Manager of Asset Management

    • Tenure: 0yrs
  • Chung Keat Ng

    Senior Manager of Investor Relations

    • Tenure: 2.8yrs
  • Ru-Shi Sun

    Compliance Officer of Frasers Logistics & Industrial Asset Management Pte. Ltd

    • Tenure: 0yrs
  • Yi Wen Chew

    Head of Investments

    • Tenure: 0.8yrs

Board Members

  • Yong Chian Goh (74yo)

    Independent Non-Executive Director

    • Tenure: 3.4yrs
    • Compensation: AU$84.50k
  • Henry Ho (65yo)

    Independent Chairman of the Board

    • Tenure: 3.4yrs
    • Compensation: AU$134.00k
  • Paul Say (58yo)

    Independent Non-Executive Director

    • Tenure: 3.4yrs
    • Compensation: AU$78.00k
  • Rod Fehring (60yo)

    Non-Executive Director

    • Tenure: 0.7yrs
  • Khong Shoong Chia (47yo)

    Non-Executive Director

    • Tenure: 0.7yrs
  • Panote Sirivadhanabhakdi (42yo)

    Non-Executive Director

    • Tenure: 3.4yrs

Company Information

Frasers Logistics & Industrial Trust's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Frasers Logistics & Industrial Trust
  • Ticker: BUOU
  • Exchange: SGX
  • Founded:
  • Industry: Industrial REITs
  • Sector: Real Estate
  • Market Cap: S$2.834b
  • Shares outstanding: 2.25b
  • Website: https://www.frasersproperty.com/reits/flt

Number of Employees


Location

  • Frasers Logistics & Industrial Trust
  • 438 Alexandra Road
  • #02-00 Alexandra Point
  • Singapore
  • 119958
  • Singapore

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BUOUSGX (Singapore Exchange)YesUnitsSGSGDJun 2016
BWQUSGX (Singapore Exchange)YesUnitsSGAUDJun 2016
4ZSDB (Deutsche Boerse AG)YesUnitsDEEURJun 2016

Biography

Frasers Property Limited ("Frasers Property" or the “Company”), is a multi-national company that owns, develops and manages a diverse, integrated portfolio of properties. Listed on the Mainboard of the SGX ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/21 12:58
End of Day Share Price2019/10/21 00:00
Earnings2019/06/30
Annual Earnings2018/09/30


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.