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P40U

Starhill Global Real Estate Investment Trust SGX:P40U Stock Report

Last Price

S$0.58

Market Cap

S$1.3b

7D

0.9%

1Y

4.5%

Updated

26 Jun, 2022

Data

Company Financials +
P40U fundamental analysis
Snowflake Score
Valuation3/6
Future Growth1/6
Past Performance3/6
Financial Health1/6
Dividends4/6

P40U Stock Overview

Starhill Global REIT is a Singapore-based real estate investment trust investing primarily in real estate used for retail and office purposes, both in Singapore and overseas.

Starhill Global Real Estate Investment Trust Competitors

 

 

 

 

 

 

 

 

 

 

 

 

Price History & Performance

Summary of all time highs, changes and price drops for Starhill Global Real Estate Investment Trust
Historical stock prices
Current Share PriceS$0.58
52 Week HighS$0.68
52 Week LowS$0.56
Beta1.04
1 Month Change1.74%
3 Month Change-3.31%
1 Year Change4.46%
3 Year Change-24.52%
5 Year Change-25.00%
Change since IPO-44.29%

Recent News & Updates

Shareholder Returns

P40USG REITsSG Market
7D0.9%1.1%0.2%
1Y4.5%-4.7%-3.4%

Return vs Industry: P40U exceeded the SG REITs industry which returned -4.7% over the past year.

Return vs Market: P40U exceeded the SG Market which returned -3.4% over the past year.

Price Volatility

Is P40U's price volatile compared to industry and market?
P40U volatility
P40U Average Weekly Movement2.1%
REITs Industry Average Movement2.8%
Market Average Movement4.8%
10% most volatile stocks in SG Market11.1%
10% least volatile stocks in SG Market2.2%

Stable Share Price: P40U is less volatile than 75% of SG stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: P40U's weekly volatility (2%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
n/a31Sing Hohttps://www.starhillglobalreit.com

Starhill Global REIT is a Singapore-based real estate investment trust investing primarily in real estate used for retail and office purposes, both in Singapore and overseas. Since its listing on the Mainboard of the Singapore Exchange Securities Trading Limited (the “SGX-ST”) on 20 September 2005, Starhill Global REIT has grown its initial portfolio from interests in two landmark properties on Orchard Road in Singapore to 10 properties in Singapore, Australia, Malaysia, China and Japan, valued at about S$2.9 billion. These comprise interests in Wisma Atria and Ngee Ann City on Orchard Road in Singapore, Myer Centre Adelaide, David Jones Building and Plaza Arcade in Adelaide and Perth, Australia, The Starhill and Lot 10 in Kuala Lumpur, Malaysia, a retail property in Chengdu, China and two properties in Tokyo, Japan.

Starhill Global Real Estate Investment Trust Fundamentals Summary

How do Starhill Global Real Estate Investment Trust's earnings and revenue compare to its market cap?
P40U fundamental statistics
Market CapS$1.31b
Earnings (TTM)S$87.60m
Revenue (TTM)S$183.84m

15.0x

P/E Ratio

7.1x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
P40U income statement (TTM)
RevenueS$183.84m
Cost of RevenueS$57.05m
Gross ProfitS$126.79m
Other ExpensesS$39.20m
EarningsS$87.60m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.039
Gross Margin68.97%
Net Profit Margin47.65%
Debt/Equity Ratio58.3%

How did P40U perform over the long term?

See historical performance and comparison

Dividends

6.8%

Current Dividend Yield

67%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is P40U undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for P40U?

Other financial metrics that can be useful for relative valuation.

P40U key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue12.6x
Enterprise Value/EBITDA19.1x
PEG Ratio2.6x

Price to Earnings Ratio vs Peers

How does P40U's PE Ratio compare to its peers?

P40U PE Ratio vs Peers
The above table shows the PE ratio for P40U vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average23.7x

Price-To-Earnings vs Peers: P40U is good value based on its Price-To-Earnings Ratio (15x) compared to the peer average (23.7x).


Price to Earnings Ratio vs Industry

How does P40U's PE Ratio compare vs other companies in the Singaporean REITs Industry?

Price-To-Earnings vs Industry: P40U is expensive based on its Price-To-Earnings Ratio (15x) compared to the SG REITs industry average (14.1x)


Price to Earnings Ratio vs Fair Ratio

What is P40U's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

P40U PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio15x
Fair PE Ratio14.6x

Price-To-Earnings vs Fair Ratio: P40U is expensive based on its Price-To-Earnings Ratio (15x) compared to the estimated Fair Price-To-Earnings Ratio (14.6x).


Share Price vs Fair Value

What is the Fair Price of P40U when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: P40U (SGD0.59) is trading below our estimate of fair value (SGD1.06)

Significantly Below Fair Value: P40U is trading below fair value by more than 20%.


Price to Earnings Growth Ratio

PEG Ratio: P40U is poor value based on its PEG Ratio (2.6x)


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Future Growth

How is Starhill Global Real Estate Investment Trust forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

Future Growth Score

1/6

Future Growth Score 1/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


5.6%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: P40U's forecast earnings growth (5.6% per year) is above the savings rate (1.8%).

Earnings vs Market: P40U's earnings (5.6% per year) are forecast to grow slower than the SG market (12.6% per year).

High Growth Earnings: P40U's earnings are forecast to grow, but not significantly.

Revenue vs Market: P40U's revenue (5.3% per year) is forecast to grow slower than the SG market (7.8% per year).

High Growth Revenue: P40U's revenue (5.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: P40U's Return on Equity is forecast to be low in 3 years time (5.2%).


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Past Performance

How has Starhill Global Real Estate Investment Trust performed over the past 5 years?

Past Performance Score

3/6

Past Performance Score 3/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-7.7%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: P40U has high quality earnings.

Growing Profit Margin: P40U's current net profit margins (47.6%) are higher than last year (40.6%).


Past Earnings Growth Analysis

Earnings Trend: P40U's earnings have declined by 7.7% per year over the past 5 years.

Accelerating Growth: P40U's earnings growth over the past year (25%) exceeds its 5-year average (-7.7% per year).

Earnings vs Industry: P40U earnings growth over the past year (25%) underperformed the REITs industry 87.6%.


Return on Equity

High ROE: P40U's Return on Equity (4.6%) is considered low.


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Financial Health

How is Starhill Global Real Estate Investment Trust's financial position?

Financial Health Score

1/6

Financial Health Score 1/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: P40U's short term assets (SGD96.3M) do not cover its short term liabilities (SGD156.7M).

Long Term Liabilities: P40U's short term assets (SGD96.3M) do not cover its long term liabilities (SGD1.0B).


Debt to Equity History and Analysis

Debt Level: P40U's net debt to equity ratio (53.5%) is considered high.

Reducing Debt: P40U's debt to equity ratio has increased from 56.2% to 58.3% over the past 5 years.

Debt Coverage: P40U's debt is not well covered by operating cash flow (11.1%).

Interest Coverage: P40U's interest payments on its debt are well covered by EBIT (3x coverage).


Balance Sheet


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Dividend

What is Starhill Global Real Estate Investment Trust current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


6.75%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: P40U's dividend (6.75%) is higher than the bottom 25% of dividend payers in the SG market (2.34%).

High Dividend: P40U's dividend (6.75%) is in the top 25% of dividend payers in the SG market (6.16%)


Stability and Growth of Payments

Stable Dividend: P40U's dividend payments have been volatile in the past 10 years.

Growing Dividend: P40U's dividend payments have fallen over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (67.3%), P40U's dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its reasonable cash payout ratio (72.2%), P40U's dividend payments are covered by cash flows.


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Management

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

12.2yrs

Average management tenure


CEO

Sing Ho (55 yo)

12.17yrs

Tenure

Mr. Sing Ho has been the Chief Executive Officer of YTL Starhill Global REIT Management Limited, the Manager of Starhill Global Real Estate Investment Trust since April 20, 2010. Mr. Ho has leadership and...


Leadership Team

Experienced Management: P40U's management team is seasoned and experienced (12.2 years average tenure).


Board Members

Experienced Board: P40U's board of directors are considered experienced (8.9 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

Starhill Global Real Estate Investment Trust's employee growth, exchange listings and data sources


Key Information

  • Name: Starhill Global Real Estate Investment Trust
  • Ticker: P40U
  • Exchange: SGX
  • Founded: NaN
  • Industry: Retail REITs
  • Sector: Real Estate
  • Implied Market Cap: S$1.310b
  • Shares outstanding: 2.24b
  • Website: https://www.starhillglobalreit.com

Number of Employees


Location

  • Starhill Global Real Estate Investment Trust
  • Tower B
  • 391B Orchard Road
  • Singapore
  • 238874
  • Singapore

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/26 00:00
End of Day Share Price2022/06/24 00:00
Earnings2021/12/31
Annual Earnings2021/06/30


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.