ESR-REIT
Market Cap
S$1.5b
Last Updated
2021/01/22 11:11 UTC
Data Sources
Company Financials +
Executive Summary
ESR-REIT has been listed on the Singapore Exchange Securities Trading Limited since 25 July 2006. More Details
Rewards
Risk Analysis
Snowflake Analysis
Average dividend payer with moderate growth potential.
Similar Companies
Share Price & News
How has ESR-REIT's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: J91U is not significantly more volatile than the rest of SG stocks over the past 3 months, typically moving +/- 4% a week.
Volatility Over Time: J91U's weekly volatility (4%) has been stable over the past year.
Market Performance
7 Day Return
0%
J91U
1.2%
SG REITs
5.0%
SG Market
1 Year Return
-27.7%
J91U
-7.9%
SG REITs
23.7%
SG Market
Return vs Industry: J91U underperformed the SG REITs industry which returned -7.9% over the past year.
Return vs Market: J91U underperformed the SG Market which returned 23.7% over the past year.
Shareholder returns
| J91U | Industry | Market | |
|---|---|---|---|
| 7 Day | 0% | 1.2% | 5.0% |
| 30 Day | 2.5% | 4.5% | 20.5% |
| 90 Day | 8.0% | 8.2% | 27.0% |
| 1 Year | -22.5%-27.7% | -3.3%-7.9% | 28.4%23.7% |
| 3 Year | -12.9%-28.9% | 20.5%1.1% | 57.9%42.3% |
| 5 Year | 10.0%-22.1% | 67.5%24.5% | 100.9%72.1% |
Long-Term Price Volatility Vs. Market
How volatile is ESR-REIT's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 weeks ago | Simply Wall St
ESR-REIT (SGX:J91U) Share Prices Have Dropped 30% In The Last Three Years1 month ago | Simply Wall St
ESR-REIT's (SGX:J91U) About To Shift From Loss To Profit2 months ago | Simply Wall St
Who Has Been Selling ESR-REIT (SGX:J91U) Shares?Valuation
Is ESR-REIT undervalued compared to its fair value and its price relative to the market?
42.0%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: J91U (SGD0.41) is trading below our estimate of fair value (SGD0.7)
Significantly Below Fair Value: J91U is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: J91U is poor value based on its PE Ratio (515.3x) compared to the SG REITs industry average (18.6x).
PE vs Market: J91U is poor value based on its PE Ratio (515.3x) compared to the SG market (15.7x).
Price to Earnings Growth Ratio
PEG Ratio: J91U is poor value based on its PEG Ratio (11.3x)
Price to Book Ratio
PB vs Industry: J91U's PB Ratio (0.9x) is in line with the SG REITs industry average.
Next Steps
Future Growth
How is ESR-REIT forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?
45.7%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: J91U's forecast earnings growth (45.7% per year) is above the savings rate (2%).
Earnings vs Market: J91U's earnings (45.7% per year) are forecast to grow faster than the SG market (8.6% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: J91U's revenue (3.9% per year) is forecast to grow slower than the SG market (6.6% per year).
High Growth Revenue: J91U's revenue (3.9% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: J91U's Return on Equity is forecast to be low in 3 years time (8.2%).
Next Steps
Past Performance
How has ESR-REIT performed over the past 5 years?
-54.0%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: J91U has a large one-off loss of SGD58.1M impacting its December 31 2020 financial results.
Growing Profit Margin: J91U became profitable in the past.
Past Earnings Growth Analysis
Earnings Trend: J91U has become profitable over the past 5 years, growing earnings by -54% per year.
Accelerating Growth: J91U has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.
Earnings vs Industry: J91U has become profitable in the last year, making it difficult to compare its past year earnings growth to the REITs industry (-8.2%).
Return on Equity
High ROE: J91U's Return on Equity (0.8%) is considered low.
Next Steps
Financial Health
How is ESR-REIT's financial position?
Financial Position Analysis
Short Term Liabilities: J91U's short term assets (SGD30.3M) do not cover its short term liabilities (SGD319.2M).
Long Term Liabilities: J91U's short term assets (SGD30.3M) do not cover its long term liabilities (SGD1.3B).
Debt to Equity History and Analysis
Debt Level: J91U's debt to equity ratio (76.2%) is considered high.
Reducing Debt: J91U's debt to equity ratio has increased from 60.2% to 76.2% over the past 5 years.
Debt Coverage: J91U's debt is not well covered by operating cash flow (13.3%).
Interest Coverage: J91U's interest payments on its debt are not well covered by EBIT (2x coverage).
Balance Sheet
Next Steps
Dividend
What is ESR-REIT current dividend yield, its reliability and sustainability?
6.91%
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: J91U's dividend (6.91%) is higher than the bottom 25% of dividend payers in the SG market (2.13%).
High Dividend: J91U's dividend (6.91%) is in the top 25% of dividend payers in the SG market (4.94%)
Stability and Growth of Payments
Stable Dividend: J91U's dividend payments have been volatile in the past 10 years.
Growing Dividend: J91U's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (49.5%), J91U's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: J91U's dividends in 3 years are forecast to be covered by earnings (96.3% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
3.0yrs
Average management tenure
CEO
Adrian Chui (44 yo)
3.83yrs
Tenure
Mr. Wai Yin Chui, also known as Adrian, serves as CEO & Executive Director of ESR FUNDS MANAGEMENT (S) LIMITED at ESR Cayman Ltd. He has been Chief Executive Officer and Executive Director of ESR Funds Ma...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Executive Director of ESR Funds Management (S) Limited & ESR-REIT | 3.83yrs | no data | no data | |
| Chief Financial Officer | 2.17yrs | no data | no data | |
| Head of Real Estate & COO | 2.33yrs | no data | no data | |
| Head of Capital Markets & Investor Relations | 2.42yrs | no data | no data | |
| Head of Compliance & Risk Management | 6.58yrs | no data | no data | |
| Corporate Communications Manager of ESR Funds Management (S) Limited | no data | no data | no data | |
| Head of Human Resources & Corporate Services of ESR Funds Management (S) Limited | 3.5yrs | no data | no data | |
| Head of Property Services of ESR Funds Management (S) Limited | no data | no data | no data | |
| Company Secretary of Cambridge Industrial Trust Management Limited | no data | no data | no data |
3.0yrs
Average Tenure
45yo
Average Age
Experienced Management: J91U's management team is considered experienced (3 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Executive Director of ESR Funds Management (S) Limited & ESR-REIT | 3.83yrs | no data | no data | |
| Independent Non-Executive Director of ESR Funds Management (S) Limited | 2yrs | S$88.27k | 0.0030% SGD 44.7k | |
| Non-Executive Director of ESR Funds Management (S) Limited | 4yrs | no data | no data | |
| Non-Executive Director of ESR Funds Management (S) Limited | 2yrs | S$202.50k | 0.11% SGD 1.6m | |
| Non-Executive Director of ESR Funds Management (S) Limited | 3.75yrs | S$47.83k | no data | |
| Independent Chairman of ESR Funds Management (S) Limited | 4yrs | S$166.28k | no data | |
| Non-Executive Director of ESR Funds Management (S) Limited | 2yrs | no data | 22.59% SGD 335.3m | |
| Independent Non-Executive Director of ESR Funds Management (S) Limited | 2yrs | S$100.04k | 0.0043% SGD 64.6k | |
| Independent Non-Executive Director of ESR Funds Management (S) Limited | 1.83yrs | S$68.55k | 0.0042% SGD 61.6k | |
| Independent Non-Executive Director | 0.58yr | no data | no data |
2.0yrs
Average Tenure
55yo
Average Age
Experienced Board: J91U's board of directors are not considered experienced ( 2 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: J91U 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 2.6%.
Top Shareholders
Company Information
ESR-REIT's company bio, employee growth, exchange listings and data sources
Key Information
- Name: ESR-REIT
- Ticker: J91U
- Exchange: SGX
- Founded: 2006
- Industry: Industrial REITs
- Sector: Real Estate
- Market Cap: S$1.484b
- Shares outstanding: 3.58b
- Website: https://www.esr-reit.com.sg
Location
- ESR-REIT
- 138 Market Street
- No 26-03/04 CapitaGreen
- Singapore
- 48946
- Singapore
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| J91U | SGX (Singapore Exchange) | Yes | UNITS | SG | SGD | Jul 2006 |
| CGIU.F | OTCPK (Pink Sheets LLC) | Yes | UNITS | US | USD | Jul 2006 |
Biography
ESR-REIT has been listed on the Singapore Exchange Securities Trading Limited since 25 July 2006. ESR-REIT invests in quality income-producing industrial properties and as at 30 June 2020 holds interest in...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/01/22 11:11 |
| End of Day Share Price | 2021/01/22 00:00 |
| Earnings | 2020/12/31 |
| Annual Earnings | 2020/12/31 |
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.