Mapletree North Asia Commercial Trust
Market Cap
S$3.0b
Last Updated
2020/10/29 13:02 UTC
Data Sources
Company Financials +
Executive Summary
Listed on the Singapore Exchange Securities Trading Limited ("SGX-ST") on 7 March 2013, Mapletree North Asia Commercial Trust ("MNACT") is the first real estate investment trust (“REIT”) that offers investors the opportunity to invest in best-in-class commercial properties situated in prime locations in China, in Hong Kong SAR and in Japan. More Details
Rewards
Risk Analysis
Snowflake Analysis
Fair value second-rate dividend payer.
Share Price & News
How has Mapletree North Asia Commercial Trust's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: RW0U has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
0%
RW0U
-2.6%
SG REITs
-1.4%
SG Market
1 Year Return
-30.9%
RW0U
-14.2%
SG REITs
-23.6%
SG Market
Return vs Industry: RW0U underperformed the SG REITs industry which returned -14.2% over the past year.
Return vs Market: RW0U underperformed the SG Market which returned -23.6% over the past year.
Shareholder returns
| RW0U | Industry | Market | |
|---|---|---|---|
| 7 Day | 0% | -2.6% | -1.4% |
| 30 Day | -4.3% | -4.8% | -0.1% |
| 90 Day | 3.5% | -4.1% | -2.7% |
| 1 Year | -27.8%-30.9% | -10.2%-14.2% | -19.4%-23.6% |
| 3 Year | -11.5%-24.0% | 14.1%-3.4% | -22.0%-31.4% |
| 5 Year | 21.5%-9.2% | 44.4%7.3% | -7.6%-24.4% |
Price Volatility Vs. Market
How volatile is Mapletree North Asia Commercial Trust's share price compared to the market and industry in the last 5 years?
Simply Wall St News
4 months ago | Simply Wall St
How Much Are Mapletree North Asia Commercial Trust (SGX:RW0U) Insiders Spending On Buying Shares?5 months ago | Simply Wall St
If You Had Bought Mapletree North Asia Commercial Trust (SGX:RW0U) Stock A Year Ago, You'd Be Sitting On A 36% Loss, Today7 months ago | Simply Wall St
How Many Mapletree North Asia Commercial Trust (SGX:RW0U) Shares Do Institutions Own?Valuation
Is Mapletree North Asia Commercial Trust undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: RW0U (SGD0.89) is trading below our estimate of fair value (SGD1.96)
Significantly Below Fair Value: RW0U is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: RW0U is poor value based on its PE Ratio (22.9x) compared to the SG REITs industry average (16.4x).
PE vs Market: RW0U is poor value based on its PE Ratio (22.9x) compared to the SG market (12.9x).
Price to Earnings Growth Ratio
PEG Ratio: RW0U is poor value based on its PEG Ratio (2x)
Price to Book Ratio
PB vs Industry: RW0U is good value based on its PB Ratio (0.6x) compared to the SG REITs industry average (0.8x).
Next Steps
Future Growth
How is Mapletree North Asia Commercial Trust forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?
11.6%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: RW0U's forecast earnings growth (11.6% per year) is above the savings rate (2.2%).
Earnings vs Market: RW0U's earnings (11.6% per year) are forecast to grow slower than the SG market (22.3% per year).
High Growth Earnings: RW0U's earnings are forecast to grow, but not significantly.
Revenue vs Market: RW0U's revenue (6.3% per year) is forecast to grow slower than the SG market (6.8% per year).
High Growth Revenue: RW0U's revenue (6.3% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: RW0U's Return on Equity is forecast to be low in 3 years time (4.1%).
Next Steps
Past Performance
How has Mapletree North Asia Commercial Trust performed over the past 5 years?
9.5%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: RW0U has high quality earnings.
Growing Profit Margin: RW0U's current net profit margins (34.9%) are lower than last year .
Past Earnings Growth Analysis
Earnings Trend: RW0U's earnings have grown by 9.5% per year over the past 5 years.
Accelerating Growth: RW0U's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: RW0U had negative earnings growth (-80.5%) over the past year, making it difficult to compare to the REITs industry average (-15.2%).
Return on Equity
High ROE: RW0U's Return on Equity (2.6%) is considered low.
Next Steps
Financial Health
How is Mapletree North Asia Commercial Trust's financial position?
Financial Position Analysis
Short Term Liabilities: RW0U's short term assets (SGD228.1M) do not cover its short term liabilities (SGD541.9M).
Long Term Liabilities: RW0U's short term assets (SGD228.1M) do not cover its long term liabilities (SGD3.3B).
Debt to Equity History and Analysis
Debt Level: RW0U's debt to equity ratio (72.4%) is considered high.
Reducing Debt: RW0U's debt to equity ratio has increased from 61.8% to 72.4% over the past 5 years.
Debt Coverage: RW0U's debt is not well covered by operating cash flow (7.8%).
Interest Coverage: RW0U's interest payments on its debt are well covered by EBIT (3.2x coverage).
Balance Sheet
Next Steps
Dividend
What is Mapletree North Asia Commercial Trust current dividend yield, its reliability and sustainability?
8.05%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: RW0U's dividend (8.05%) is higher than the bottom 25% of dividend payers in the SG market (2.54%).
High Dividend: RW0U's dividend (8.05%) is in the top 25% of dividend payers in the SG market (5.4%)
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, RW0U has been paying a dividend for less than 10 years.
Growing Dividend: RW0U's dividend payments have increased, but the company has only paid a dividend for 7 years.
Current Payout to Shareholders
Dividend Coverage: At its current payout ratio (81.3%), RW0U's payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: RW0U's dividends in 3 years are not forecast to be well covered by earnings (121.6% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
4.2yrs
Average board tenure
CEO
Cindy Chow (50 yo)
no data
Tenure
Ms. Pei Pei Chow, also known as Cindy, serves as the Chief Executive Officer at Mapletree North Asia Commercial Trust Management Ltd. (formerly Mapletree Greater China Commercial Trust Management Ltd.), th ...
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Executive Director of Mapletree North Asia Commercial Trust Management Ltd | no data | no data | 0.023% SGD 688.3k | |
| Independent Non-Executive Director of Mapletree North Asia Commercial Trust Management Ltd | 7.58yrs | S$94.50k | 0.016% SGD 488.7k | |
| Non-Executive Chairman of Mapletree North Asia Commercial Trust Management Ltd | 4.17yrs | S$139.50k | no data | |
| Non-Executive Director of Mapletree North Asia Commercial Trust Management Ltd | 7.92yrs | no data | 0.063% SGD 1.9m | |
| Lead Independent Director of Mapletree North Asia Commercial Trust Management Ltd | 4.17yrs | S$99.50k | 0.0056% SGD 171.9k | |
| Independent Non-Executive Director of Mapletree North Asia Commercial Trust Management Ltd | 7.58yrs | S$109.50k | 0.022% SGD 678.9k | |
| Independent Non-Executive Director of Mapletree North Asia Commercial Trust Management Ltd | 3.92yrs | S$83.00k | no data | |
| Independent Non-Executive Director of Mapletree North Asia Commercial Trust Management Ltd | 2yrs | S$94.50k | no data | |
| Non-Executive Director of Mapletree North Asia Commercial Trust Management Ltd | 0.83yr | no data | 0.012% SGD 376.6k |
4.2yrs
Average Tenure
62.5yo
Average Age
Experienced Board: RW0U's board of directors are considered experienced (4.2 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 been diluted in the past year, with total shares outstanding growing by 5.6%.
Top Shareholders
Company Information
Mapletree North Asia Commercial Trust's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Mapletree North Asia Commercial Trust
- Ticker: RW0U
- Exchange: SGX
- Founded:
- Industry: Diversified REITs
- Sector: Real Estate
- Market Cap: S$3.047b
- Shares outstanding: 3.37b
- Website: https://www.mapletreenorthasiacommercialtrust.com
Location
- Mapletree North Asia Commercial Trust
- 10 Pasir Panjang Road
- No. 13-01 Mapletree Business City
- Singapore
- 117438
- Singapore
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| RW0U | SGX (Singapore Exchange) | Yes | Units | SG | SGD | Mar 2013 |
| 7MGC | DB (Deutsche Boerse AG) | Yes | Units | DE | EUR | Mar 2013 |
| MTGC.F | OTCPK (Pink Sheets LLC) | Yes | Units | US | USD | Mar 2013 |
Biography
Listed on the Singapore Exchange Securities Trading Limited ("SGX-ST") on 7 March 2013, Mapletree North Asia Commercial Trust ("MNACT") is the first real estate investment trust (“REIT”) that offers invest ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/10/29 13:02 |
| End of Day Share Price | 2020/10/29 00:00 |
| Earnings | 2020/03/31 |
| Annual Earnings | 2020/03/31 |
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.