Starhill Global Real Estate Investment Trust

SGX:P40U Stock Report

Market Cap: S$1.1b

Starhill Global Real Estate Investment Trust Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

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.

Discounted Cash Flow
Simply Wall St
S$0.58
Fair Value
16.2% undervalued intrinsic discount
4
Number of Analysts

Below Fair Value: P40U (SGD0.49) is trading below our estimate of fair value (SGD0.58)

Significantly Below Fair Value: P40U is trading below fair value, but not by a significant amount.

Key Valuation Metric

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

Key metric: As P40U is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for P40U. This is calculated by dividing P40U's market cap by their current earnings.
What is P40U's PE Ratio?
PE Ratio16.7x
EarningsS$66.37m
Market CapS$1.11b

Price to Earnings Ratio vs Peers

How does P40U's PE Ratio compare to its 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.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average13.6x
CRPU Sasseur Real Estate Investment Trust
15.2x13.2%S$850.5m
JYEU Lendlease Global Commercial REIT
20.6x11.1%S$1.2b
SK6U Paragon REIT
8.9x-28.4%S$2.7b
ODBU United Hampshire US Real Estate Investment Trust
9.6x-4.4%US$286.0m
P40U Starhill Global Real Estate Investment Trust
16.7x12.9%S$1.1b

Price-To-Earnings vs Peers: P40U is expensive based on its Price-To-Earnings Ratio (16.7x) compared to the peer average (13.6x).

Price to Earnings Ratio vs Industry

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

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
P40U 16.7xIndustry Avg. 14.0xNo. of Companies5PE0816243240+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: P40U is expensive based on its Price-To-Earnings Ratio (16.7x) compared to the Asian Retail REITs industry average (14x).

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 Ratio16.7x
Fair PE Ratio19.7x

Price-To-Earnings vs Fair Ratio: P40U is good value based on its Price-To-Earnings Ratio (16.7x) compared to the estimated Fair Price-To-Earnings Ratio (19.7x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst P40U forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentS$0.48
S$0.58
+19.1%
13.7%S$0.68S$0.46n/a4
Mar ’26S$0.48
S$0.58
+19.1%
13.7%S$0.68S$0.46n/a4
Feb ’26S$0.51
S$0.58
+13.2%
13.7%S$0.68S$0.46n/a4
Jan ’26S$0.50
S$0.58
+15.5%
13.7%S$0.68S$0.46n/a4
Dec ’25S$0.50
S$0.58
+15.5%
13.7%S$0.68S$0.46n/a4
Nov ’25S$0.51
S$0.58
+14.4%
13.7%S$0.68S$0.46n/a4
Oct ’25S$0.55
S$0.57
+5.5%
14.4%S$0.68S$0.45n/a4
Sep ’25S$0.51
S$0.57
+12.7%
14.4%S$0.68S$0.45n/a4
Aug ’25S$0.49
S$0.58
+16.7%
14.3%S$0.68S$0.45n/a4
Jul ’25S$0.48
S$0.58
+20.1%
14.5%S$0.68S$0.45n/a4
Jun ’25S$0.48
S$0.59
+22.4%
13.0%S$0.68S$0.47n/a4
May ’25S$0.47
S$0.59
+23.7%
13.0%S$0.68S$0.47n/a4
Apr ’25S$0.49
S$0.59
+19.9%
13.0%S$0.68S$0.47n/a4
Mar ’25S$0.48
S$0.56
+16.0%
11.4%S$0.62S$0.47S$0.483
Feb ’25S$0.51
S$0.58
+12.9%
14.1%S$0.70S$0.47S$0.515
Jan ’25S$0.53
S$0.57
+9.3%
14.6%S$0.70S$0.46S$0.505
Dec ’24S$0.49
S$0.57
+15.2%
14.7%S$0.70S$0.46S$0.505
Nov ’24S$0.45
S$0.57
+27.6%
13.7%S$0.70S$0.48S$0.515
Oct ’24S$0.48
S$0.57
+18.4%
13.7%S$0.70S$0.48S$0.555
Sep ’24S$0.48
S$0.57
+18.4%
13.7%S$0.70S$0.48S$0.515
Aug ’24S$0.52
S$0.57
+10.4%
13.4%S$0.70S$0.49S$0.495
Jul ’24S$0.52
S$0.58
+11.8%
11.5%S$0.68S$0.49S$0.485
Jun ’24S$0.51
S$0.58
+12.9%
11.5%S$0.68S$0.49S$0.485
May ’24S$0.53
S$0.58
+9.7%
11.5%S$0.68S$0.49S$0.475
Apr ’24S$0.52
S$0.59
+12.7%
11.2%S$0.68S$0.49S$0.495
Mar ’24S$0.56
S$0.59
+5.6%
11.2%S$0.68S$0.49S$0.485
Analyst Price Target
Consensus Narrative from 4 Analysts
S$0.58
Fair Value
16.0% undervalued intrinsic discount
4
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

Discover undervalued companies

7D

1Y

7D

1Y

7D

1Y

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/03/08 11:41
End of Day Share Price 2025/03/07 00:00
Earnings2024/12/31
Annual Earnings2024/06/30

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Starhill Global Real Estate Investment Trust is covered by 14 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Samuel James Hugh WarwoodBofA Global Research
Natalie OngCGS International
David LumDaiwa Securities Co. Ltd.