SGX:P40U

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Starhill Global Real Estate Investment Trust

Executive Summary

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. More Details


Snowflake Analysis

Undervalued average dividend payer.

Share Price & News

How has Starhill Global Real Estate Investment Trust's share price performed over time and what events caused price changes?


Latest Share Price and Events

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

Volatility Over Time: P40U's weekly volatility (3%) has been stable over the past year.


Market Performance


7 Day Return

0%

P40U

0.5%

SG REITs

1.1%

SG Market


1 Year Return

-21.8%

P40U

-12.3%

SG REITs

-4.0%

SG Market

Return vs Industry: P40U underperformed the SG REITs industry which returned -12.3% over the past year.

Return vs Market: P40U underperformed the SG Market which returned -4% over the past year.


Shareholder returns

P40UIndustryMarket
7 Day0%0.5%1.1%
30 Day-2.8%-3.3%1.9%
90 Day8.3%1.3%6.1%
1 Year-17.6%-21.8%-7.8%-12.3%1.0%-4.0%
3 Year-12.7%-26.8%18.4%-1.3%-7.1%-18.5%
5 Year-6.2%-30.7%46.5%8.2%17.0%-4.4%

Long-Term Price Volatility Vs. Market

How volatile is Starhill Global Real Estate Investment Trust's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Starhill Global Real Estate Investment Trust undervalued compared to its fair value and its price relative to the market?

46.7%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: P40U (SGD0.52) is trading below our estimate of fair value (SGD0.98)

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


Price To Earnings Ratio

PE vs Industry: P40U is good value based on its PE Ratio (16.3x) compared to the SG REITs industry average (21.8x).

PE vs Market: P40U is poor value based on its PE Ratio (16.3x) compared to the SG market (14.4x).


Price to Earnings Growth Ratio

PEG Ratio: P40U is good value based on its PEG Ratio (0.7x)


Price to Book Ratio

PB vs Industry: P40U is good value based on its PB Ratio (0.6x) compared to the SG REITs industry average (0.9x).


Next Steps

Future Growth

How is Starhill Global Real Estate Investment Trust forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

21.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: P40U's forecast earnings growth (21.9% per year) is above the savings rate (2%).

Earnings vs Market: P40U's earnings (21.9% per year) are forecast to grow slower than the SG market (25.7% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: P40U's revenue (6% per year) is forecast to grow slower than the SG market (9.1% per year).

High Growth Revenue: P40U's revenue (6% 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 (5.5%).


Next Steps

Past Performance

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

-7.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: P40U has high quality earnings.

Growing Profit Margin: P40U's current net profit margins (40.6%) are lower than last year (50.3%).


Past Earnings Growth Analysis

Earnings Trend: P40U's earnings have declined by 7.6% per year over the past 5 years.

Accelerating Growth: P40U's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: P40U had negative earnings growth (-30.2%) over the past year, making it difficult to compare to the REITs industry average (-29.3%).


Return on Equity

High ROE: P40U's Return on Equity (3.7%) is considered low.


Next Steps

Financial Health

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


Financial Position Analysis

Short Term Liabilities: P40U's short term assets (SGD131.3M) do not cover its short term liabilities (SGD387.4M).

Long Term Liabilities: P40U's short term assets (SGD131.3M) do not cover its long term liabilities (SGD820.4M).


Debt to Equity History and Analysis

Debt Level: P40U's debt to equity ratio (58.7%) is considered high.

Reducing Debt: P40U's debt to equity ratio has increased from 57.5% to 58.7% over the past 5 years.

Debt Coverage: P40U's debt is not well covered by operating cash flow (9.8%).

Interest Coverage: P40U's interest payments on its debt are not well covered by EBIT (2.6x coverage).


Balance Sheet


Next Steps

Dividend

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

4.96%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: P40U's dividend (4.96%) is higher than the bottom 25% of dividend payers in the SG market (1.98%).

High Dividend: P40U's dividend (4.96%) is in the top 25% of dividend payers in the SG market (4.79%)


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.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (36.3%), P40U's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: P40U's dividends in 3 years are forecast to be covered by earnings (95.8% payout ratio).


Next Steps

Management

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

10.9yrs

Average management tenure


CEO

Sing Ho (54 yo)

10.92yrs

Tenure

Mr. Ho Sing 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 several years o...


Leadership Team

NamePositionTenureCompensationOwnership
Sing Ho
CEO of YTL Starhill Global REIT Mgmt Ltd & Executive Director10.92yrsno data0.0093%
SGD 106.1k
Peng Kwet Yew Cheong
Chief Financial Officer of YTL Starhill Global REIT Management Limited11.92yrsno datano data
Clare Koh
Senior VP & Head of Investments - YTL Starhill Global REIT Management Limitedno datano datano data
Soon Hock Yeo
Senior Vice President of Finance & Accounting - YTL Starhill Global REIT Management Limitedno datano datano data
Jonathan Kuah
Senior VP and Head of Investor Relations & Corporate Planning - YTL Starhill Global REIT Mgmnt. Ltd.no datano datano data
Chee Kin Lam
Senior VP of Legal & Compliance and Joint Company Secretary of YTL Starhill Global REIT Mgmt Ltdno datano datano data
Kian Siong Tay
Senior Vice President of Asset Management - YTL Starhill Global REIT Management Limited2.5yrsno datano data
Abdul Jabbar Bin Karam Din
Joint Company Secretary - YTL Starhill Global REIT Management Limitedno datano datano data
Wai Lim
Joint Company Secretary of YTL Starhill Global REIT Management Limitedno datano datano data

10.9yrs

Average Tenure

Experienced Management: P40U's management team is seasoned and experienced (10.9 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Sing Ho
CEO of YTL Starhill Global REIT Mgmt Ltd & Executive Director10.92yrsno data0.0093%
SGD 106.1k
Seok Kian Yeoh
Non-Executive Director12.25yrsS$59.85kno data
Sock Ping Yeoh
Non-Executive Chairman12.25yrsS$95.00kno data
Woon Hum Tan
Independent & Non-Executive Director3.58yrsS$64.60kno data
Yew Ching
Independent & Non-Executive Director4.33yrsS$64.60kno data
Bong Lin Tan
Lead Independent Director3.17yrsS$69.35kno data

7.6yrs

Average Tenure

62.5yo

Average Age

Experienced Board: P40U's board of directors are considered experienced (7.6 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.


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 company bio, 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
  • Market Cap: S$1.146b
  • Shares outstanding: 2.20b
  • Website: https://www.starhillglobalreit.com

Number of Employees


Location

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

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
P40USGX (Singapore Exchange)YesUNITSSGSGDSep 2005
SGLM.FOTCPK (Pink Sheets LLC)YesUNITSUSUSDSep 2005

Biography

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 Mainb...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/03/04 11:02
End of Day Share Price2021/03/04 00:00
Earnings2020/12/31
Annual Earnings2020/06/30


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.