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Frasers Logistics & Industrial Trust

SGX:BUOU
Snowflake Description

Solid track record second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BUOU
SGX
SGD2B
Market Cap
  1. Home
  2. SG
  3. Real Estate
Company description

Frasers Logistics & Industrial Trust (“FLT”) is the first Singapore-listed real estate investment trust with a portfolio comprising 83 logistics and industrial properties, worth approximately A$3.0 billion, concentrated within major logistics and industrial markets in Australia, Germany and the Netherlands. The last earnings update was 84 days ago. More info.


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BUOU Share Price and Events
7 Day Returns
0%
SGX:BUOU
-1.8%
SG REITs
0.4%
SG Market
1 Year Returns
6.4%
SGX:BUOU
2.6%
SG REITs
-5.9%
SG Market
BUOU Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Frasers Logistics & Industrial Trust (BUOU) 0% 1.8% 10.5% 6.4% - -
SG REITs -1.8% 0.9% 4.9% 2.6% 14.4% 11.9%
SG Market 0.4% 3.3% 4.1% -5.9% 8.8% -2.5%
1 Year Return vs Industry and Market
  • BUOU outperformed the REITs industry which returned 2.6% over the past year.
  • BUOU outperformed the Market in Singapore which returned -5.9% over the past year.
Price Volatility
BUOU
Industry
5yr Volatility vs Market

BUOU Value

 Is Frasers Logistics & Industrial Trust undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Frasers Logistics & Industrial Trust to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Frasers Logistics & Industrial Trust.

SGX:BUOU Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.3%
Perpetual Growth Rate 10-Year SG Government Bond Rate 2.3%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for SGX:BUOU
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year SG Govt Bond Rate 2.3%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.54
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.54 (1 + (1- 17%) (46.05%))
0.83
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.83
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.3% + (0.83 * 5.96%)
7.25%

Discounted Cash Flow Calculation for SGX:BUOU using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Frasers Logistics & Industrial Trust is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

SGX:BUOU DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (AUD, Millions) Source Present Value
Discounted (@ 7.25%)
2019 111.70 Analyst x1 104.15
2020 158.20 Analyst x1 137.53
2021 161.70 Analyst x1 131.07
2022 165.30 Est @ 2.22% 124.92
2023 169.01 Est @ 2.25% 119.09
2024 172.84 Est @ 2.26% 113.56
2025 176.77 Est @ 2.28% 108.29
2026 180.81 Est @ 2.28% 103.27
2027 184.95 Est @ 2.29% 98.49
2028 189.19 Est @ 2.29% 93.94
Present value of next 10 years cash flows A$1,134.31
SGX:BUOU DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= A$189.19 × (1 + 2.3%) ÷ (7.25% – 2.3%)
A$3,910.95
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= A$3,910.95 ÷ (1 + 7.25%)10
A$1,941.94
SGX:BUOU Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= A$1,134.31 + A$1,941.94
A$3,076.25
Equity Value per Share
(AUD)
= Total value / Shares Outstanding
= A$3,076.25 / 2,024.48
A$1.47
SGX:BUOU Discount to Share Price
Calculation Result
Exchange Rate AUD/SGD
(Reporting currency to currency of SGX:BUOU)
0.97
Value per Share
(SGD)
= Value per Share in AUD x Exchange Rate (AUD/SGD)
= A$1.47 x 0.97
SGD1.43
Value per share (SGD) From above. SGD1.43
Current discount Discount to share price of SGD1.16
= -1 x (SGD1.16 - SGD1.43) / SGD1.43
18.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Frasers Logistics & Industrial Trust is available for.
Intrinsic value
19%
Share price is SGD1.16 vs Future cash flow value of SGD1.43
Current Discount Checks
For Frasers Logistics & Industrial Trust to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Frasers Logistics & Industrial Trust's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Frasers Logistics & Industrial Trust's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Frasers Logistics & Industrial Trust's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Frasers Logistics & Industrial Trust's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SGX:BUOU PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in AUD A$0.08
SGX:BUOU Share Price ** SGX (2019-04-18) in SGD SGD1.16
SGX:BUOU Share Price converted to AUD reporting currency Exchange rate (SGD/ AUD) 1.031 A$1.2
Singapore REITs Industry PE Ratio Median Figure of 39 Publicly-Listed REITs Companies 13.09x
Singapore Market PE Ratio Median Figure of 328 Publicly-Listed Companies 13.07x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Frasers Logistics & Industrial Trust.

SGX:BUOU PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SGX:BUOU Share Price ÷ EPS (both in AUD)

= 1.2 ÷ 0.08

14.07x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Frasers Logistics & Industrial Trust is overvalued based on earnings compared to the SG REITs industry average.
  • Frasers Logistics & Industrial Trust is overvalued based on earnings compared to the Singapore market.
Price based on expected Growth
Does Frasers Logistics & Industrial Trust's expected growth come at a high price?
Raw Data
SGX:BUOU PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 14.07x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
-3%per year
Singapore REITs Industry PEG Ratio Median Figure of 37 Publicly-Listed REITs Companies 1.45x
Singapore Market PEG Ratio Median Figure of 119 Publicly-Listed Companies 1.45x

*Line of best fit is calculated by linear regression .

SGX:BUOU PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 14.07x ÷ -3%

-4.76x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Frasers Logistics & Industrial Trust earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Frasers Logistics & Industrial Trust's assets?
Raw Data
SGX:BUOU PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in AUD A$0.94
SGX:BUOU Share Price * SGX (2019-04-18) in SGD SGD1.16
SGX:BUOU Share Price converted to AUD reporting currency Exchange rate (SGD/ AUD) 1.031 A$1.2
Singapore REITs Industry PB Ratio Median Figure of 41 Publicly-Listed REITs Companies 0.96x
Singapore Market PB Ratio Median Figure of 432 Publicly-Listed Companies 0.75x
SGX:BUOU PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SGX:BUOU Share Price ÷ Book Value per Share (both in AUD)

= 1.2 ÷ 0.94

1.27x

* Primary Listing of Frasers Logistics & Industrial Trust.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Frasers Logistics & Industrial Trust is overvalued based on assets compared to the SG REITs industry average.
X
Value checks
We assess Frasers Logistics & Industrial Trust's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Frasers Logistics & Industrial Trust has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

BUOU Future Performance

 How is Frasers Logistics & Industrial Trust expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Frasers Logistics & Industrial Trust expected to grow at an attractive rate?
  • Frasers Logistics & Industrial Trust's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.3%.
Growth vs Market Checks
  • Frasers Logistics & Industrial Trust's earnings are expected to decrease over the next 1-3 years, this is below the Singapore market average.
  • Frasers Logistics & Industrial Trust's revenue growth is positive but not above the Singapore market average.
Annual Growth Rates Comparison
Raw Data
SGX:BUOU Future Growth Rates Data Sources
Data Point Source Value (per year)
SGX:BUOU Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts -3%
SGX:BUOU Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 2.8%
Singapore REITs Industry Earnings Growth Rate Market Cap Weighted Average -4.3%
Singapore REITs Industry Revenue Growth Rate Market Cap Weighted Average 3%
Singapore Market Earnings Growth Rate Market Cap Weighted Average 5.6%
Singapore Market Revenue Growth Rate Market Cap Weighted Average 4.7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
SGX:BUOU Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in AUD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SGX:BUOU Future Estimates Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-09-30 236 167 130 3
2020-09-30 232 161 129 4
2019-09-30 226 161 127 4
SGX:BUOU Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2018-12-31 213 130 154
2018-09-30 196 124 144
2018-06-30 179 121 110
2018-03-31 170 120 104
2017-12-31 168 120 103
2017-09-30 165 121 102
2016-12-31 181 136 112
2016-09-30 172 129 106

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Frasers Logistics & Industrial Trust's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Frasers Logistics & Industrial Trust's revenue is expected to grow by 2.8% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
SGX:BUOU Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from Frasers Logistics & Industrial Trust Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SGX:BUOU Future Estimates Data
Date (Data in AUD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-09-30 0.06 0.07 0.06 2.00
2020-09-30 0.06 0.06 0.06 2.00
2019-09-30 0.06 0.06 0.06 2.00
SGX:BUOU Past Financials Data
Date (Data in AUD Millions) EPS *
2018-12-31 0.08
2018-09-30 0.08
2018-06-30 0.07
2018-03-31 0.07
2017-12-31 0.07
2017-09-30 0.07
2016-12-31 0.08
2016-09-30 0.07

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Frasers Logistics & Industrial Trust is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Frasers Logistics & Industrial Trust's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Singapore market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Singapore market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Frasers Logistics & Industrial Trust has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

BUOU Past Performance

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

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Frasers Logistics & Industrial Trust's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Frasers Logistics & Industrial Trust's year on year earnings growth rate has been positive over the past 5 years.
  • Frasers Logistics & Industrial Trust's 1-year earnings growth exceeds its 5-year average (49.5% vs 16.7%)
  • Frasers Logistics & Industrial Trust's earnings growth has exceeded the SG REITs industry average in the past year (49.5% vs 5.9%).
Earnings and Revenue History
Frasers Logistics & Industrial Trust's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Frasers Logistics & Industrial Trust Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SGX:BUOU Past Revenue, Cash Flow and Net Income Data
Date (Data in AUD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 212.86 154.40 2.79
2018-09-30 195.77 143.55 2.29
2018-06-30 179.37 109.72 8.95
2018-03-31 170.28 104.11 9.27
2017-12-31 167.64 103.30 9.18
2017-09-30 164.89 102.32 9.25
2016-12-31 181.17 112.10 37.78
2016-09-30 172.20 105.61 38.30
2015-12-31 116.17 72.31 3.90
2015-09-30 111.02 71.90 3.90
2014-09-30 100.99 67.28 2.57
2013-09-30 100.73 69.16 13.90

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Frasers Logistics & Industrial Trust has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Frasers Logistics & Industrial Trust used its assets more efficiently than the SG REITs industry average last year based on Return on Assets.
  • Frasers Logistics & Industrial Trust has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Frasers Logistics & Industrial Trust's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Frasers Logistics & Industrial Trust has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

BUOU Health

 How is Frasers Logistics & Industrial Trust's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Frasers Logistics & Industrial Trust's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Frasers Logistics & Industrial Trust's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Frasers Logistics & Industrial Trust's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Frasers Logistics & Industrial Trust's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Frasers Logistics & Industrial Trust Company Filings, last reported 3 months ago.

SGX:BUOU Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,930.00 1,105.13 73.04
2018-09-30 1,943.25 1,068.91 105.66
2018-06-30 1,848.84 1,075.67 56.35
2018-03-31 1,365.99 609.06 74.53
2017-12-31 1,339.74 608.57 47.99
2017-09-30 1,337.52 574.11 56.10
2016-12-31 1,256.82 532.93 62.41
2016-09-30 1,249.27 491.54 85.84
2015-12-31 1,166.84 472.20 34.44
2015-09-30 1,223.28 418.20 36.08
2014-09-30
2013-09-30
  • Frasers Logistics & Industrial Trust's level of debt (57.3%) compared to net worth is high (greater than 40%).
  • Unable to establish if Frasers Logistics & Industrial Trust's debt level has increased without past 5-year debt data.
  • Debt is not well covered by operating cash flow (11.8%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 6.2x coverage).
X
Financial health checks
We assess Frasers Logistics & Industrial Trust's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Frasers Logistics & Industrial Trust has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

BUOU Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.8%
Current annual income from Frasers Logistics & Industrial Trust dividends. Estimated to be 5.98% next year.
If you bought SGD2,000 of Frasers Logistics & Industrial Trust shares you are expected to receive SGD116 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Frasers Logistics & Industrial Trust's pays a higher dividend yield than the bottom 25% of dividend payers in Singapore (2.51%).
  • Frasers Logistics & Industrial Trust's dividend is above the markets top 25% of dividend payers in Singapore (5.43%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
SGX:BUOU Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
Singapore REITs Industry Average Dividend Yield Market Cap Weighted Average of 41 Stocks 5.7%
Singapore Market Average Dividend Yield Market Cap Weighted Average of 278 Stocks 3.9%
Singapore Minimum Threshold Dividend Yield 10th Percentile 1.6%
Singapore Bottom 25% Dividend Yield 25th Percentile 2.5%
Singapore Top 25% Dividend Yield 75th Percentile 5.4%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

SGX:BUOU Future Dividends Estimate Data
Date (Data in A$) Dividend per Share (annual) Avg. No. Analysts
2021-09-30 0.07 4.00
2020-09-30 0.07 5.00
2019-09-30 0.07 5.00
SGX:BUOU Past Annualized Dividends Data
Date (Data in A$) Dividend per share (annual) Avg. Yield (%)
2018-12-20 0.069 6.062
2018-11-05 0.069 6.602
2017-12-26 0.066 6.521
2017-11-01 0.067 6.305
2017-05-04 0.064 6.558
2016-11-01 0.019 2.067

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Frasers Logistics & Industrial Trust has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Frasers Logistics & Industrial Trust only paid a dividend in the past 2 years.
Current Payout to shareholders
What portion of Frasers Logistics & Industrial Trust's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (0.9x coverage).
X
Income/ dividend checks
We assess Frasers Logistics & Industrial Trust's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.6%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Frasers Logistics & Industrial Trust afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Frasers Logistics & Industrial Trust has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

BUOU Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Robert Stuart Wallace
AGE 46
CEO Bio

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 Investment Property at Frasers Property (APG) Pty Limited from August 2007, where he was responsible for leading the Investment Property Division which owned and managed a portfolio of investment properties with an aggregate value of approximately A$2.5 billion. He has been involved in many facets of the Frasers Property business, including group strategy, funds management, acquisitions and dispositions, portfolio management, divisional reporting and capital sourcing. Mr. Wallace was also the joint venture manager for Australand Logistics Joint Venture. Mr. Wallace was also the fund manager for Australand Wholesale Fund 6 during the six-year life of the A$226 million fund which was wound up in December 2013. From October 2002 to August 2007, he was a Fund Manager at MAB Funds Management Limited. Mr. Wallace was also the Fund Manager for the A$226 million Australand Wholesale Property Fund 6 which was wound up in December 2013.Mr. Wallace ensured that the managed funds were able to meet investor targets and ensured compliance with the relevant statutory guidelines. Mr. Wallace holds a Bachelor of Business (Property) from RMIT University and a Postgraduate Diploma in Applied Finance and Investment from FINSIA (formerly known as Securities Institute of Australia). He is also a Certified Practising Valuer, with the Australian Property Institute.

CEO Compensation
  • Insufficient data for Robert Stuart to compare compensation growth.
  • Insufficient data for Robert Stuart to establish whether their remuneration is reasonable compared to companies of similar size in Singapore.
Management Team Tenure

Average tenure and age of the Frasers Logistics & Industrial Trust management team in years:

1.7
Average Tenure
44
Average Age
  • The average tenure for the Frasers Logistics & Industrial Trust management team is less than 2 years, this suggests a new team.
Management Team

Robert Stuart Wallace

TITLE
Chief Executive Officer
AGE
46

Susanna Cher

TITLE
Chief Financial Officer
AGE
58
TENURE
5.8 yrs

Yi Wen Chew

TITLE
Head of Investments
TENURE
0.3 yrs

Chung Keat Ng

TITLE
Senior Manager of Investor Relations
TENURE
2.3 yrs

Ru-Shi Sun

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

Catherine Yeo

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

Annie Khung

TITLE
Financial Controller of Frasers Logistics & Industrial Asset Management Pte. Ltd
AGE
42

James Spong

TITLE
General Manager of Asset Management
AGE
41
TENURE
1.1 yrs
Board of Directors Tenure

Average tenure and age of the Frasers Logistics & Industrial Trust board of directors in years:

2.9
Average Tenure
58
Average Age
  • The average tenure for the Frasers Logistics & Industrial Trust board of directors is less than 3 years, this suggests a new board.
Board of Directors

Henry Ho

TITLE
Chairman of the Board
COMPENSATION
A$134K
AGE
64
TENURE
2.9 yrs

Yong Chian Goh

TITLE
Independent Non-Executive Director
COMPENSATION
A$85K
AGE
73
TENURE
2.9 yrs

Panote Sirivadhanabhakdi

TITLE
Non-Executive Director
AGE
41
TENURE
2.9 yrs

Paul Say

TITLE
Independent Non-Executive Director
COMPENSATION
A$78K
AGE
57
TENURE
2.9 yrs

Rod Fehring

TITLE
Non-Executive Director
AGE
59
TENURE
0.2 yrs

Khong Shoong Chia

TITLE
Non-Executive Director
AGE
46
TENURE
0.2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (SGD) Value (SGD)
06. Mar 19 Buy PPM America, Inc Company 04. Mar 19 04. Mar 19 8,779,600 SGD1.13 SGD9,895,488
17. Jan 19 Buy PPM America, Inc Company 15. Jan 19 15. Jan 19 2,012,200 SGD0.16 SGD323,612
12. Feb 19 Sell PPM America, Inc Company 07. Feb 19 07. Feb 19 -7,000,000 SGD1.10 SGD-7,700,004
24. May 18 Buy Panote Sirivadhanabhakdi Individual 21. May 18 21. May 18 19,684,000 SGD0.99 SGD19,428,098
30. May 18 Buy Yong Chian Goh Individual 25. May 18 25. May 18 70,000 SGD1.03 SGD72,100
24. May 18 Sell Nikko Asset Management Co., Ltd. Company 21. May 18 21. May 18 -12,600 SGD1.04 SGD-13,104
X
Management checks
We assess Frasers Logistics & Industrial Trust's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Frasers Logistics & Industrial Trust has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

BUOU News

Simply Wall St News

Could The Frasers Logistics & Industrial Trust (SGX:BUOU) Ownership Structure Tell Us Something Useful?

If you want to know who really controls Frasers Logistics & Industrial Trust (SGX:BUOU), then you'll have to look at the makeup of its share registry. … Frasers Logistics & Industrial Trust isn't enormous, but it's not particularly small either. … View our latest analysis for Frasers Logistics & Industrial Trust

Simply Wall St -

Should You Take Comfort From Insider Transactions At Frasers Logistics & Industrial Trust (SGX:BUOU)?

So before you buy or sell Frasers Logistics & Industrial Trust (SGX:BUOU), you may well want to know whether insiders have been buying or selling. … The Last 12 Months Of Insider Transactions At Frasers Logistics & Industrial Trust. … In total, Frasers Logistics & Industrial Trust insiders bought more than they sold over the last year

Simply Wall St -

Should You Care About Frasers Logistics & Industrial Trust’s (SGX:BUOU) Cash Levels?

Two important questions to ask before you buy Frasers Logistics & Industrial Trust (SGX:BUOU) is, how it makes money and how it spends its cash. … I’ve analysed below, the health and outlook of Frasers Logistics & Industrial Trust’s cash flow, which will help you understand the stock from a cash standpoint. … Frasers Logistics & Industrial Trust generates cash through its day-to-day business, which needs to be reinvested into the company in order for it to continue operating

Simply Wall St -

Frasers Logistics & Industrial Trust (SGX:BUOU): Are Analysts Right About The Drop In Earnings?

Looking at Frasers Logistics & Industrial Trust's (SGX:BUOU) earnings update in September 2018, … with profits predicted to drop by -10.0% next year

Simply Wall St -

How Much Of Frasers Logistics & Industrial Trust (SGX:BUOU) Do Insiders Own?

If you want to know who really controls Frasers Logistics & Industrial Trust (SGX:BUOU), then you'll have to look at the makeup of its share registry. … With a market capitalization of S$2.1b, Frasers Logistics & Industrial Trust is a decent size, so it is probably on the radar of institutional investors. … View our latest analysis for Frasers Logistics & Industrial Trust

Simply Wall St -

How Should You Analyze REIT Stock Frasers Logistics & Industrial Trust (SGX:BUOU)?

Frasers Logistics & Industrial Trust is a S$2.1b. … View our latest analysis for Frasers Logistics & Industrial Trust … FFO is a cleaner and more representative figure of how much BUOU actually makes from its day-to-day operations, compared to net income, which can be affected by one-off activities or non-cash items such as depreciation

Simply Wall St -

Why Frasers Logistics & Industrial Trust (SGX:BUOU) Looks Like A Quality Company

We'll use ROE to examine Frasers Logistics & Industrial Trust (SGX:BUOU), by way of a worked example. … Frasers Logistics & Industrial Trust has a ROE of 9.2%, based on the last twelve months. … View our latest analysis for Frasers Logistics & Industrial Trust?

Simply Wall St -

Are Frasers Logistics & Industrial Trust (SGX:BUOU) Shareholders Getting A Good Deal?

Frasers Logistics & Industrial Trust (SGX:BUOU) shareholders, and potential investors, need to understand how much cash the business makes from its core operational activities, as well as how much is invested back into the business. … Today we will examine Frasers Logistics & Industrial Trust’s ability to generate cash flows, as well as the level of capital expenditure it is expected to incur over the next couple of years, which will result in how much money goes to you. … Frasers Logistics & Industrial Trust’s free cash flow (FCF) is the level of cash flow the business generates from its operational activities, after it reinvests in the company as capital expenditure.

Simply Wall St -

How Should You Analyze REIT Stock Frasers Logistics & Industrial Trust (SGX:BUOU)?

Frasers Logistics & Industrial Trust is a S$2.22b. … Check out our latest analysis for Frasers Logistics & Industrial Trust … FFO is a cleaner and more representative figure of how much BUOU actually makes from its day-to-day operations, compared to net income, which can be affected by one-off activities or non-cash items such as depreciation.

Simply Wall St -

Frasers Logistics & Industrial Trust (SGX:BUOU) Delivered A Better ROE Than The Industry, Here’s Why

and want to start learning about core concepts of fundamental analysis on practical examples from today's market. … With an ROE of 7.62%, Frasers Logistics & Industrial Trust (SGX:BUOU) returned in-line to its own industry which delivered 6.53% over the past year. … Check out our latest analysis for Frasers Logistics & Industrial Trust

Simply Wall St -

BUOU Company Info

Description

Frasers Logistics & Industrial Trust (“FLT”) is the first Singapore-listed real estate investment trust with a portfolio comprising 83 logistics and industrial properties, worth approximately A$3.0 billion, concentrated within major logistics and industrial markets in Australia, Germany and the Netherlands. FLT was listed on the Mainboard of Singapore Exchange Securities Trading Limited (“SGX-ST”) on 20 June 2016. FLT’s investment strategy is to invest globally in a diversified portfolio of income-producing industrial and logistics properties. With strong connectivity to key infrastructure, FLT’s modern portfolio consists predominantly of freehold and long leasehold land tenure assets with a well-diversified tenant base. FLT is sponsored by Frasers Property Limited.

Details
Name: Frasers Logistics & Industrial Trust
BUOU
Exchange: SGX
Founded:
SGD2,328,153,133
2,024,480,986
Website: http://www.frasersproperty.com/reits/flt
Address: Frasers Logistics & Industrial Trust
438 Alexandra Road,
#02-00 Alexandra Point,
Singapore,
119958,
Singapore
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SGX BUOU Units Singapore Exchange SG SGD 20. Jun 2016
SGX BWQU Units Singapore Exchange SG AUD 20. Jun 2016
Number of employees
Current staff
Staff numbers
22
Frasers Logistics & Industrial Trust employees.
Industry
Industrial REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/18 13:04
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/16
Last earnings filing: 2019/01/24
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/09/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.