SGX:HMN

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Ascott Residence Trust

Executive Summary

Ascott Residence Trust (ART) is the largest hospitality trust in Asia Pacific with an asset value of S$7.2 billion as at 31 December 2020. More Details


Snowflake Analysis

Reasonable growth potential and slightly overvalued.

Share Price & News

How has Ascott Residence Trust's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: HMN is not significantly more volatile than the rest of SG stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: HMN's weekly volatility (3%) has been stable over the past year.


Market Performance


7 Day Return

2.5%

HMN

-0.2%

SG REITs

1.3%

SG Market


1 Year Return

-4.7%

HMN

-13.0%

SG REITs

-1.6%

SG Market

Return vs Industry: HMN exceeded the SG REITs industry which returned -13% over the past year.

Return vs Market: HMN underperformed the SG Market which returned -1.6% over the past year.


Shareholder returns

HMNIndustryMarket
7 Day2.5%-0.2%1.3%
30 Day1.0%-3.6%2.2%
90 Day-1.0%-0.2%6.6%
1 Year-1.7%-4.7%-8.4%-13.0%3.5%-1.6%
3 Year-1.7%-12.8%17.3%-2.3%-7.2%-18.6%
5 Year20.9%-9.7%45.6%7.6%17.0%-4.4%

Long-Term Price Volatility Vs. Market

How volatile is Ascott Residence Trust's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Ascott Residence Trust undervalued compared to its fair value and its price relative to the market?

40.4%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: HMN (SGD1.02) is trading below our estimate of fair value (SGD1.71)

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


Price To Earnings Ratio

PE vs Industry: HMN is unprofitable, so we can't compare its PE Ratio to the SG REITs industry average.

PE vs Market: HMN is unprofitable, so we can't compare its PE Ratio to the SG market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate HMN's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: HMN's PB Ratio (0.8x) is in line with the SG REITs industry average.


Next Steps

Future Growth

How is Ascott Residence Trust forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?

87.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: HMN is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (2%).

Earnings vs Market: HMN is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: HMN's is expected to become profitable in the next 3 years.

Revenue vs Market: HMN's revenue (19.4% per year) is forecast to grow faster than the SG market (9.1% per year).

High Growth Revenue: HMN's revenue (19.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: HMN's Return on Equity is forecast to be low in 3 years time (4.1%).


Next Steps

Past Performance

How has Ascott Residence Trust performed over the past 5 years?

-22.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: HMN is currently unprofitable.

Growing Profit Margin: HMN is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: HMN is unprofitable, and losses have increased over the past 5 years at a rate of 22.1% per year.

Accelerating Growth: Unable to compare HMN's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: HMN is unprofitable, making it difficult to compare its past year earnings growth to the REITs industry (-29.3%).


Return on Equity

High ROE: HMN has a negative Return on Equity (-5.57%), as it is currently unprofitable.


Next Steps

Financial Health

How is Ascott Residence Trust's financial position?


Financial Position Analysis

Short Term Liabilities: HMN's short term assets (SGD622.2M) exceed its short term liabilities (SGD537.5M).

Long Term Liabilities: HMN's short term assets (SGD622.2M) do not cover its long term liabilities (SGD2.6B).


Debt to Equity History and Analysis

Debt Level: HMN's debt to equity ratio (61.6%) is considered high.

Reducing Debt: HMN's debt to equity ratio has reduced from 68.1% to 61.6% over the past 5 years.

Debt Coverage: HMN's debt is not well covered by operating cash flow (3%).

Interest Coverage: HMN is unprofitable, therefore interest payments are not well covered by earnings.


Balance Sheet


Next Steps

Dividend

What is Ascott Residence Trust current dividend yield, its reliability and sustainability?

2.97%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: HMN's dividend (2.97%) is higher than the bottom 25% of dividend payers in the SG market (1.88%).

High Dividend: HMN's dividend (2.97%) is low compared to the top 25% of dividend payers in the SG market (4.82%).


Stability and Growth of Payments

Stable Dividend: HMN's dividend payments have been volatile in the past 10 years.

Growing Dividend: HMN's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (206.2%), HMN's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: HMN's dividends in 3 years are not forecast to be well covered by earnings (114.8% payout ratio).


Next Steps

Management

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

4.4yrs

Average management tenure


CEO

Siew Kim Beh (49 yo)

3.83yrs

Tenure

Ms. Siew Kim Beh is the Chief Executive Officer and Executive Non-Independent Director of Ascott Residence Trust Management Limited. She had been the Chief Executive Officer of Ascott Residence Trust Manag...


Leadership Team

NamePositionTenureCompensationOwnership
Siew Kim Beh
CEO & Executive Non-Independent Director of Ascott Residence Trust Management Limited3.83yrsno data0.0087%
SGD 280.5k
Siew Fong Kang
Chief Financial Officer of Ascott Residence Trust Management Limitedno datano datano data
Kin Leong Chan
Head of Investment & Asset Managementno datano datano data
Wei Ling Kang
Vice President Investor Relations & Asset Managementno datano datano data
Joan Tan
Vice President of Group Communications - Ascott Residence Trust Management Limitedno datano datano data
Yim Mei Chan
Company Secretary of Ascott Residence Trust Management Limited4.42yrsno datano data
Tsuey Chang
Company Secretary of Ascott Residence Trust Management Limited4.42yrsno datano data

4.4yrs

Average Tenure

Experienced Management: HMN's management team is considered experienced (4.4 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Siew Kim Beh
CEO & Executive Non-Independent Director of Ascott Residence Trust Management Limited3.83yrsno data0.0087%
SGD 280.5k
Zulkifli Bin Baharudin
Independent Non-Executive Director of Ascott Residence Trust Management Limited8.17yrsS$74.70k0.0032%
SGD 103.0k
Beng Hai Tan
Independent Chairman of Ascott Residence Trust Management Limited4.5yrsS$131.00k0.0031%
SGD 98.8k
Chee Koon Lee
Non-Executive Non-Independent Director of Ascott Residence Trust Management Limited7.75yrsno data0.0015%
SGD 48.3k
Elaine Carole Young
Independent Non-Executive Director of Ascott Residence Trust Management Limited4.5yrsS$105.00k0.0033%
SGD 107.5k
Cho Pin Lim
Non-Executive Non-Independent Director of Ascott Residence Trust Management Limited3.17yrsno data0%
SGD 0
Juat Quee Sim
Independent Non-Executive Director of Ascott Residence Trust Management Limited4.5yrsS$96.00k0.0018%
SGD 58.3k

4.5yrs

Average Tenure

55yo

Average Age

Experienced Board: HMN's board of directors are considered experienced (4.5 years average tenure).


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 not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Ascott Residence Trust's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Ascott Residence Trust
  • Ticker: HMN
  • Exchange: SGX
  • Founded: 2006
  • Industry: Hotel and Resort REITs
  • Sector: Real Estate
  • Market Cap: S$3.239b
  • Shares outstanding: 3.11b
  • Website: https://www.ascottreit.com

Location

  • Ascott Residence Trust
  • No. 30-01 Capital Tower
  • 168 Robinson Road
  • Singapore
  • 68912
  • Singapore

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
HMNSGX (Singapore Exchange)YesStapled SecuritySGSGDMar 2006

Biography

Ascott Residence Trust (ART) is the largest hospitality trust in Asia Pacific with an asset value of S$7.2 billion as at 31 December 2020. Having listed on the Singapore Exchange Securities Trading Limited...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/03/08 11:07
End of Day Share Price2021/03/08 00:00
Earnings2020/12/31
Annual Earnings2020/12/31


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.