Suntec Real Estate Investment Trust
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Listed on 9 December 2004, Suntec REIT holds properties in Suntec City, Singapore’s largest integrated commercial development (including one of Singapore’s largest shopping Mall), a 60.8% interest in Suntec Singapore Convention & Exhibition Centre, a one-third interest in One Raffles Quay, a one-third interest in Marina Bay Financial Centre Towers 1 and 2 and the Marina Bay Link Mall, and a 30.0% interest in 9 Penang Road. The last earnings update was 23 days ago. More info.
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T82U Share Price and Events
7 Day Returns
1 Year Returns
T82U Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Suntec Real Estate Investment Trust (T82U) | -2.6% | -3.1% | 0% | -2.1% | 9.2% | 9.6% |
| SG REITs | -1.1% | 0.7% | 4.8% | 2.4% | 13.4% | 11.6% |
| SG Market | 0.3% | 3.3% | 3.7% | -6.2% | 8.5% | -3% |
1 Year Return vs Industry and Market
- T82U underperformed the REITs industry which returned 2.4% over the past year.
- T82U outperformed the Market in Singapore which returned -6.2% over the past year.
Value
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
Suntec Real Estate Investment Trust
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Suntec Real Estate Investment Trust.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations | |
| Levered Adjusted Funds From Operations | Average of 15 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 7.6% |
| Perpetual Growth Rate | 10-Year SG Government Bond Rate | 2.3% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year SG Govt Bond Rate | 2.3% |
| Equity Risk Premium | S&P Global | 6% |
| REITs Unlevered Beta | Simply Wall St/ S&P Global | 0.54 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.538 (1 + (1- 17%) (68.92%)) |
0.897 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.9 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.3% + (0.897 * 5.96%) |
7.65% |
Discounted Cash Flow Calculation for SGX:T82U using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model
The calculations below outline how an intrinsic value for Suntec Real Estate Investment Trust is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
Suntec Real Estate Investment Trust is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.
| Adjusted Funds From Operations (AFFO) (SGD, Millions) | Source |
Present Value Discounted (@ 7.65%) |
|
|---|---|---|---|
| 2019 | 161.50 | Analyst x2 | 150.03 |
| 2020 | 163.50 | Analyst x2 | 141.09 |
| 2021 | 167.00 | Analyst x2 | 133.87 |
| 2022 | 166.41 | Est @ -0.36% | 123.92 |
| 2023 | 167.14 | Est @ 0.44% | 115.62 |
| 2024 | 168.81 | Est @ 1% | 108.48 |
| 2025 | 171.16 | Est @ 1.39% | 102.18 |
| 2026 | 174.01 | Est @ 1.66% | 96.50 |
| 2027 | 177.24 | Est @ 1.86% | 91.31 |
| 2028 | 180.77 | Est @ 1.99% | 86.51 |
| Present value of next 10 years cash flows | SGD1,149.50 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= SGD180.77 × (1 + 2.3%) ÷ (7.65% – 2.3%) |
SGD3,459.70 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= SGD3,459.70 ÷ (1 + 7.65%)10 |
SGD1,655.66 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= SGD1,149.50 + SGD1,655.66 |
SGD2,805.16 |
| Equity Value per Share (SGD) |
= Total value / Shares Outstanding
= SGD2,805.16 / 2,680.54 |
SGD1.05 |
| Calculation | Result | |
|---|---|---|
| Value per share (SGD) | From above. | SGD1.05 |
| Current discount | Discount to share price of
SGD1.89
= -1 x (SGD1.89 - SGD1.05) / SGD1.05 |
-80.6% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
- The current share price of Suntec Real Estate Investment Trust is above its future cash flow value.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for Suntec Real Estate Investment Trust's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Suntec Real Estate Investment Trust's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-12-31) in SGD | SGD0.12 |
| SGX:T82U Share Price ** | SGX (2019-04-18) in SGD | SGD1.89 |
| Singapore REITs Industry PE Ratio | Median Figure of 39 Publicly-Listed REITs Companies | 13.16x |
| Singapore Market PE Ratio | Median Figure of 328 Publicly-Listed Companies | 13.2x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Suntec Real Estate Investment Trust.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = SGX:T82U Share Price ÷ EPS (both in SGD) = 1.89 ÷ 0.12 |
16.4x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Suntec Real Estate Investment Trust is overvalued based on earnings compared to the SG REITs industry average.
- Suntec Real Estate Investment Trust is overvalued based on earnings compared to the Singapore market.
Price based on expected Growth
Does
Suntec Real Estate Investment Trust's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 16.4x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 15 Analysts |
-10.6%per year |
| Singapore REITs Industry PEG Ratio | Median Figure of 37 Publicly-Listed REITs Companies | 2.08x |
| Singapore Market PEG Ratio | Median Figure of 119 Publicly-Listed Companies | 1.55x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 16.4x ÷ -10.6% |
-1.55x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Suntec Real Estate Investment Trust earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on
Suntec Real Estate Investment Trust's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in SGD | SGD2.11 |
| SGX:T82U Share Price * | SGX (2019-04-18) in SGD | SGD1.89 |
| Singapore REITs Industry PB Ratio | Median Figure of 41 Publicly-Listed REITs Companies | 0.96x |
| Singapore Market PB Ratio | Median Figure of 432 Publicly-Listed Companies | 0.75x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = SGX:T82U Share Price ÷ Book Value per Share (both in SGD) = 1.89 ÷ 2.11 |
0.9x |
* Primary Listing of Suntec Real Estate Investment Trust.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Suntec Real Estate Investment Trust is good value based on assets compared to the SG REITs industry average.
Value checks
We assess Suntec Real Estate Investment Trust's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check) Suntec Real Estate Investment Trust has a total score of 1/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
Future Performance
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- Suntec Real Estate Investment Trust's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.3%.
Growth vs Market Checks
- Suntec Real Estate Investment Trust's earnings are expected to decrease over the next 1-3 years, this is below the Singapore market average.
- Suntec Real Estate Investment Trust's revenues are expected to decrease over the next 1-3 years, this is below the Singapore market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| SGX:T82U Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 15 Analysts | -10.6% |
| SGX:T82U Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 15 Analysts | -4.8% |
| Singapore REITs Industry Earnings Growth Rate | Market Cap Weighted Average | -3.1% |
| Singapore REITs Industry Revenue Growth Rate | Market Cap Weighted Average | 3.7% |
| Singapore Market Earnings Growth Rate | Market Cap Weighted Average | 5.8% |
| Singapore Market Revenue Growth Rate | Market Cap Weighted Average | 4.8% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 15 Analyst Estimates (S&P Global) | See Below |
| Date (Data in SGD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-12-31 | 402 | 218 | 229 | 10 |
| 2020-12-31 | 386 | 226 | 215 | 15 |
| 2019-12-31 | 369 | 214 | 210 | 15 |
| Date (Data in SGD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-31 | 472 | 210 | 307 |
| 2018-09-30 | 447 | 217 | 240 |
| 2018-06-30 | 449 | 219 | 258 |
| 2018-03-31 | 435 | 221 | 234 |
| 2017-12-31 | 435 | 226 | 220 |
| 2017-09-30 | 443 | 223 | 252 |
| 2017-06-30 | 437 | 215 | 251 |
| 2017-03-31 | 427 | 204 | 260 |
| 2016-12-31 | 413 | 198 | 247 |
| 2016-09-30 | 437 | 207 | 344 |
| 2016-06-30 | 434 | 220 | 339 |
| 2016-03-31 | 435 | 224 | 339 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 15 Analyst Estimates (S&P Global) | See Below |
All data from Suntec Real Estate Investment Trust Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in SGD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-12-31 | 0.08 | 0.11 | 0.07 | 9.00 |
| 2020-12-31 | 0.08 | 0.11 | 0.06 | 11.00 |
| 2019-12-31 | 0.08 | 0.11 | 0.06 | 11.00 |
| Date (Data in SGD Millions) | EPS * |
|---|---|
| 2018-12-31 | 0.12 |
| 2018-09-30 | 0.09 |
| 2018-06-30 | 0.10 |
| 2018-03-31 | 0.09 |
| 2017-12-31 | 0.08 |
| 2017-09-30 | 0.10 |
| 2017-06-30 | 0.10 |
| 2017-03-31 | 0.10 |
| 2016-12-31 | 0.10 |
| 2016-09-30 | 0.14 |
| 2016-06-30 | 0.13 |
| 2016-03-31 | 0.13 |
*GAAP earnings excluding extraordinary items.
Performance in 3 years
In the same way as past performance we look at the future estimated return
(profit) compared to the available
funds. We do this looking forward 3 years.
- Suntec Real Estate Investment Trust is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
Future performance checks
We assess Suntec Real Estate Investment Trust's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Singapore market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Singapore market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Suntec Real Estate Investment Trust has a total score of 0/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
Past Performance
How has Suntec Real Estate Investment Trust performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- Suntec Real Estate Investment Trust's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
- Suntec Real Estate Investment Trust's 1-year earnings growth exceeds its 5-year average (39.4% vs -8.5%)
- Suntec Real Estate Investment Trust's earnings growth has exceeded the SG REITs industry average in the past year (39.4% vs 5.9%).
Earnings and Revenue History
All data from Suntec Real Estate Investment Trust Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in SGD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-12-31 | 471.99 | 307.18 | 3.46 | |
| 2018-09-30 | 446.55 | 239.82 | 2.64 | |
| 2018-06-30 | 449.47 | 258.08 | 2.61 | |
| 2018-03-31 | 435.05 | 234.27 | 2.60 | |
| 2017-12-31 | 434.54 | 220.30 | 4.65 | |
| 2017-09-30 | 442.97 | 251.53 | 2.66 | |
| 2017-06-30 | 436.61 | 250.56 | 2.99 | |
| 2017-03-31 | 427.25 | 260.34 | 2.86 | |
| 2016-12-31 | 413.50 | 246.55 | 2.63 | |
| 2016-09-30 | 436.86 | 343.82 | 2.68 | |
| 2016-06-30 | 433.91 | 338.54 | 2.45 | |
| 2016-03-31 | 434.62 | 339.43 | 2.49 | |
| 2015-12-31 | 429.65 | 354.09 | 2.58 | |
| 2015-09-30 | 456.83 | 353.98 | -13.16 | |
| 2015-06-30 | 442.77 | 339.79 | 2.81 | |
| 2015-03-31 | 428.94 | 327.45 | 2.67 | |
| 2014-12-31 | 421.52 | 317.40 | 2.53 | |
| 2014-09-30 | 447.11 | 342.19 | 18.72 | |
| 2014-06-30 | 443.09 | 346.39 | 2.61 | |
| 2014-03-31 | 423.84 | 369.54 | 2.56 | |
| 2013-12-31 | 405.76 | 364.41 | 2.52 | |
| 2013-09-30 | 275.89 | 400.12 | 1.78 | |
| 2013-06-30 | 269.31 | 396.71 | 2.13 | |
| 2013-03-31 | 288.06 | 382.46 | 2.34 | |
| 2012-12-31 | 308.73 | 413.16 | 2.33 | |
| 2012-09-30 | 405.45 | 646.97 | 1.00 | |
| 2012-06-30 | 443.61 | 677.45 | 2.59 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- Suntec Real Estate Investment Trust has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Suntec Real Estate Investment Trust used its assets less efficiently than the SG REITs industry average last year based on Return on Assets.
- Suntec Real Estate Investment Trust's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Suntec Real Estate Investment Trust's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Suntec Real Estate Investment Trust has a total score of 2/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
Health
How is Suntec Real Estate Investment Trust's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up Suntec Real Estate Investment Trust's finances.
The net worth of a company is the difference between its assets and liabilities.
- Suntec Real Estate Investment Trust's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
- Suntec Real Estate Investment Trust's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is not covered by short term assets, assets are 0x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from Suntec Real Estate Investment Trust Company Filings, last reported 3 months ago.
| Date (Data in SGD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-12-31 | 5,768.11 | 3,491.85 | 137.60 |
| 2018-09-30 | 5,688.52 | 3,456.10 | 133.12 |
| 2018-06-30 | 5,732.95 | 3,422.95 | 132.45 |
| 2018-03-31 | 5,733.71 | 3,232.40 | 117.94 |
| 2017-12-31 | 5,766.98 | 3,230.87 | 172.66 |
| 2017-09-30 | 5,733.27 | 3,253.55 | 169.08 |
| 2017-06-30 | 5,736.14 | 3,152.70 | 153.01 |
| 2017-03-31 | 5,593.11 | 3,307.40 | 149.22 |
| 2016-12-31 | 5,593.26 | 3,305.80 | 182.45 |
| 2016-09-30 | 5,512.60 | 3,303.97 | 353.12 |
| 2016-06-30 | 5,501.91 | 3,030.81 | 130.15 |
| 2016-03-31 | 5,526.63 | 3,035.06 | 168.67 |
| 2015-12-31 | 5,562.66 | 3,212.71 | 448.31 |
| 2015-09-30 | 5,387.64 | 3,128.79 | 170.97 |
| 2015-06-30 | 5,399.94 | 3,063.62 | 168.41 |
| 2015-03-31 | 5,404.10 | 2,999.21 | 114.93 |
| 2014-12-31 | 5,418.33 | 2,980.66 | 149.67 |
| 2014-09-30 | 5,277.91 | 2,874.79 | 107.66 |
| 2014-06-30 | 5,308.97 | 2,843.58 | 117.08 |
| 2014-03-31 | 5,318.26 | 3,274.87 | 566.73 |
| 2013-12-31 | 4,985.00 | 3,160.77 | 181.13 |
| 2013-09-30 | 4,788.90 | 2,937.01 | 85.49 |
| 2013-06-30 | 4,795.38 | 2,865.78 | 63.16 |
| 2013-03-31 | 4,766.07 | 2,847.41 | 197.04 |
| 2012-12-31 | 4,784.09 | 2,842.95 | 199.68 |
| 2012-09-30 | 4,537.92 | 2,832.50 | 192.74 |
| 2012-06-30 | 4,551.30 | 2,820.62 | 189.92 |
- Suntec Real Estate Investment Trust's level of debt (60.5%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has been reduced over the past 5 years (63.4% vs 60.5% today).
- Debt is not well covered by operating cash flow (6%, less than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 4.2x coverage).
Financial health checks
We assess Suntec Real Estate Investment Trust's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Suntec Real Estate Investment Trust has a total score of 2/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
Dividends
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
SGD2,000 of
Suntec Real Estate Investment Trust
shares you are expected to receive
SGD106
in your first year as a dividend.
Dividend Amount
- Suntec Real Estate Investment Trust's pays a higher dividend yield than the bottom 25% of dividend payers in Singapore (2.5%).
- Suntec Real Estate Investment Trust's dividend is below the markets top 25% of dividend payers in Singapore (5.44%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 15 Analyst Estimates (S&P Global) | See Below |
| Singapore REITs Industry Average Dividend Yield | Market Cap Weighted Average of 41 Stocks | 5.7% |
| Singapore Market Average Dividend Yield | Market Cap Weighted Average of 278 Stocks | 3.9% |
| Singapore Minimum Threshold Dividend Yield | 10th Percentile | 1.6% |
| Singapore Bottom 25% Dividend Yield | 25th Percentile | 2.5% |
| Singapore Top 25% Dividend Yield | 75th Percentile | 5.4% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in SGD) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2021-12-31 | 0.10 | 13.00 |
| 2020-12-31 | 0.10 | 18.00 |
| 2019-12-31 | 0.10 | 18.00 |
| Date (Data in SGD) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-01-22 | 0.100 | 5.179 |
| 2018-01-23 | 0.100 | 5.412 |
| 2017-03-30 | 0.100 | 5.251 |
| 2017-01-25 | 0.100 | 5.741 |
| 2016-03-29 | 0.100 | 5.922 |
| 2016-01-26 | 0.100 | 6.160 |
| 2015-03-30 | 0.094 | 5.715 |
| 2015-01-22 | 0.094 | 4.926 |
| 2014-04-09 | 0.093 | 5.114 |
| 2014-01-23 | 0.093 | 5.650 |
| 2013-04-01 | 0.095 | 5.768 |
| 2013-01-22 | 0.095 | 5.389 |
| 2012-10-25 | 0.094 | 5.819 |
| 2012-07-19 | 0.094 | 6.409 |
| 2012-04-24 | 0.098 | 7.368 |
| 2012-01-19 | 0.099 | 8.121 |
| 2011-04-21 | 0.096 | 7.387 |
| 2011-03-23 | 0.099 | 6.471 |
| 2011-01-21 | 0.099 | 6.425 |
| 2010-03-23 | 0.117 | 8.253 |
| 2010-01-26 | 0.117 | 8.945 |
| 2010-01-25 | 0.117 | 8.900 |
| 2009-07-30 | 0.119 | 10.264 |
| 2009-04-28 | 0.117 | 12.889 |
| 2009-04-21 | 0.114 | 16.982 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Dividends per share have been stable in the past 10 years.
- Dividends per share have fallen over the past 10 years.
Income/ dividend checks
We assess Suntec Real Estate Investment Trust's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.6%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Suntec Real Estate Investment Trust afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Suntec Real Estate Investment Trust has a total score of 3/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
Management
CEO
| TENURE AS CEO | 0.3 years |
CEO Bio
Mr. Chong Kee Hiong is the Chief Executive Officer and Executive Director of ARA Trust Management (Suntec) Limited (as manager of Suntec Real Estate Investment Trust) since December 31, 2018.Mr Chong Kee Hiong began his career in audit with KPMG Peat Marwick in 1990 and has over 25 years of work experience. His last position was Chief Executive Officer with OUE Hospitality REIT Management Pte Ltd from June 2013 to July 2018. Prior to that, he was Chief Executive Officer with the Ascott Limited (“Ascott”) from February 2012 to May 2013, where he was responsible for determining the overall business, investment and operational strategies for Ascott, and Chief Executive Officer with Ascott Residence Trust Management Limited from 2005 to 2012. Mr. Chong is also an elected Member of Parliament for Bishan-Toa Payoh GRC. Mr. Chong holds a Bachelor of Accountancy with National University of Singapore and completed Harvard Business School’s Advanced Management Program in 2008. He is a member of the Institute of Singapore Chartered Accountants.
CEO Compensation
- Insufficient data for Kee Hiong to compare compensation growth.
- Insufficient data for Kee Hiong to establish whether their remuneration is reasonable compared to companies of similar size in Singapore.
Management Team Tenure
Average tenure of the Suntec Real Estate Investment Trust management team in years:
- The tenure for the Suntec Real Estate Investment Trust management team is about average.
Management Team
Kee Hiong Chong
CEO & Executive Director of ARA Trust Management (Suntec) Limited
0.3 yrs
Ee Ng
Finance Director of ARA Trust Management (Suntec) Limited
42
2.1 yrs
Dawn Lai
Chief Operating Officer of ARA Trust Management (Suntec) Limited
0.5 yrs
Melissa Chow
Manager of Investor Relations - ARA Trust Management (Suntec) Limited
8.3 yrs
Patrick Lum
Chief Executive officer of Suntec City Development Pte Ltd
Sharon Yeoh
Company Secretary of ARA Trust Management (Suntec) Limited
59
Wai Chiang
Company Secretary of ARA Trust Management (Suntec) Limited
Kar Tung Quek
Director of Business Development of the ARA Group
13.8 yrs
Stella Chiam
Secretary & Director of Legal & Corporate Affairs - Suntec City Development Pte Ltd
Keng Tay
Acting Financial Controller of Suntec City Development Pte Ltd
Board of Directors Tenure
Average tenure and age of the Suntec Real Estate Investment Trust board of directors in years:
- The average tenure for the Suntec Real Estate Investment Trust board of directors is less than 3 years, this suggests a new board.
Board of Directors
Gek Khim Chew
Non-Executive Chairman of ARA Trust Management (Suntec) Limited
SGD120K
56
5 yrs
Kee Hiong Chong
CEO & Executive Director of ARA Trust Management (Suntec) Limited
0.3 yrs
John Chow
Non-Executive Director of ARA Trust Management (Suntec) Limited
SGD60K
69
11.8 yrs
John Lim
Non-Executive Director of ARA Trust Management (Suntec) Limited
SGD60K
61
14.7 yrs
Peter Chan
Independent Non-Executive Director ARA Trust Management (Suntec) Limited
SGD80K
58
2.3 yrs
Yee Yu-Foo
Independent Non-Executive Director of ARA Trust Management (Suntec) Limited
SGD80K
67
2.3 yrs
Wai Han Lock
Independent Non-Executive Director of ARA Trust Management (Suntec) Limited
SGD34K
50
0.7 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (SGD) | Value (SGD) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 08. Feb 19 | Buy | ARA Asset Management Limited | Company | 07. Feb 19 | 08. Feb 19 | 1,554,677 | SGD1.91 | SGD2,966,726 | ||
| 31. Jan 19 | Sell | ARA Asset Management Limited | Company | 30. Jan 19 | 30. Jan 19 | -2,500,000 | SGD1.89 | SGD-4,716,500 | ||
| 31. Jan 19 | Buy | BlackRock, Inc. | Company | 29. Jan 19 | 29. Jan 19 | 18,600 | SGD1.94 | SGD36,112 | ||
| 20. Dec 18 | Buy | Senz Holdings Limited | Company | 19. Dec 18 | 19. Dec 18 | 25,674,900 | SGD1.82 | SGD46,728,285 | ||
| 19. Nov 18 | Buy | Yigang Tang | Individual | 16. Nov 18 | 16. Nov 18 | 1,114,516 | SGD1.79 | SGD2,000,000 | ||
| 13. Nov 18 | Buy | Senz Holdings Limited | Company | 05. Oct 18 | 05. Oct 18 | 415,800 | SGD1.85 | SGD767,982 | ||
| 13. Nov 18 | Buy | Senz Holdings Limited | Company | 16. Oct 18 | 16. Oct 18 | 719,400 | SGD1.77 | SGD1,272,187 | ||
| 07. Nov 18 | Sell | BlackRock, Inc. | Company | 02. Nov 18 | 02. Nov 18 | -80,100 | SGD1.74 | SGD-139,430 | ||
| 24. Oct 18 | Sell | ARA Asset Management Limited | Company | 24. Oct 18 | 24. Oct 18 | -3,151,946 | SGD1.87 | SGD-5,909,897 | ||
| 06. Sep 18 | Buy | BlackRock, Inc. | Company | 04. Sep 18 | 04. Sep 18 | 28,800 | SGD1.88 | SGD54,084 | ||
| 15. Aug 18 | Sell | BlackRock, Inc. | Company | 13. Aug 18 | 13. Aug 18 | -13,600 | SGD1.91 | SGD-25,912 | ||
| 10. Aug 18 | Buy | BlackRock, Inc. | Company | 07. Aug 18 | 07. Aug 18 | 1,540,200 | SGD1.90 | SGD2,920,525 | ||
| 27. Jul 18 | Buy | Yigang Tang | Individual | 25. Jul 18 | 25. Jul 18 | 33,282,000 | SGD1.87 | SGD62,200,712 | ||
| 25. Jul 18 | Sell | ARA Asset Management Limited | Company | 25. Jul 18 | 25. Jul 18 | -3,417,014 | SGD1.71 | SGD-5,834,551 | ||
| 18. Jul 18 | Sell | BlackRock, Inc. | Company | 16. Jul 18 | 16. Jul 18 | -456,100 | SGD1.82 | SGD-828,368 | ||
| 29. Jun 18 | Sell | ARA Asset Management Limited | Company | 29. Jun 18 | 29. Jun 18 | -2,970,092 | SGD1.76 | SGD-5,227,360 | ||
| 29. Jun 18 | Buy | ARA Asset Management Limited | Company | 29. Jun 18 | 29. Jun 18 | 2,970,092 | SGD1.76 | SGD5,227,360 | ||
| 18. Jun 18 | Buy | Hwee Chiang Lim | Individual | 14. Jun 18 | 14. Jun 18 | 1,000,000 | SGD1.72 | SGD1,724,700 | ||
| 23. May 18 | Sell | BlackRock, Inc. | Company | 21. May 18 | 21. May 18 | -199,800 | SGD1.80 | SGD-359,640 | ||
| 02. May 18 | Buy | BlackRock, Inc. | Company | 27. Apr 18 | 27. Apr 18 | 817,200 | SGD1.93 | SGD1,577,604 | ||
Management checks
We assess Suntec Real Estate Investment Trust's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Suntec Real Estate Investment Trust has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
News
Simply Wall St News
Should You Invest In Suntec Real Estate Investment Trust (SGX:T82U)?
Suntec Real Estate Investment Trust is a S$5.2b. … real estate investment trust (REIT) based in Singapore, Singapore. … Check out our latest analysis for Suntec Real Estate Investment Trust.
Simply Wall St - – Full articleDoes Suntec Real Estate Investment Trust's Share Price Gain of 16% Match Its Business Performance?
Unfortunately for shareholders, while the Suntec Real Estate Investment Trust (SGX:T82U) share price is up 16% in the last three years, that falls short of the market return. … Check out our latest analysis for Suntec Real Estate Investment Trust. … Over the last three years, Suntec Real Estate Investment Trust failed to grow earnings per share, which fell 6.5% (annualized).
Simply Wall St - – Full articleIs Suntec Real Estate Investment Trust's (SGX:T82U) 4.4% ROE Worse Than Average?
To keep the lesson grounded in practicality, we'll use ROE to better understand Suntec Real Estate Investment Trust (SGX:T82U). … Our data shows Suntec Real Estate Investment Trust has a return on equity of 4.4% for the last year. … View our latest analysis for Suntec Real Estate Investment Trust?
Simply Wall St - – Full articleWhat Kind Of Shareholder Owns Most Suntec Real Estate Investment Trust (SGX:T82U) Stock?
The big shareholder groups in Suntec Real Estate Investment Trust (SGX:T82U) have power over the company. … Suntec Real Estate Investment Trust has a market capitalization of S$4.9b, so it's too big to fly under the radar. … View our latest analysis for Suntec Real Estate Investment Trust
Simply Wall St - – Full articleAre Insiders Buying Suntec Real Estate Investment Trust (SGX:T82U) Stock?
So before you buy or sell Suntec Real Estate Investment Trust (SGX:T82U), you may well want to know whether insiders have been buying or selling. … Suntec Real Estate Investment Trust Insider Transactions Over The Last Year. … In total, Suntec Real Estate Investment Trust insiders bought more than they sold over the last year
Simply Wall St - – Full articleWhat You Need To Know Before Investing In Suntec Real Estate Investment Trust (SGX:T82U)
Suntec Real Estate Investment Trust is a S$4.8b. … real estate investment trust (REIT) based in Singapore, Singapore. … See our latest analysis for Suntec Real Estate Investment Trust
Simply Wall St - – Full articleWho Are The Top Investors In Suntec Real Estate Investment Trust (SGX:T82U)?
Every investor in Suntec Real Estate Investment Trust (SGX:T82U) should be aware of the most powerful shareholder groups. … Suntec Real Estate Investment Trust has a market capitalization of S$4.96b, so it's too big to fly under the radar. … View our latest analysis for Suntec Real Estate Investment Trust
Simply Wall St - – Full articleWill Suntec Real Estate Investment Trust (SGX:T82U) Continue To Underperform Its Industry?
and want to begin learning the link between company’s fundamentals and stock market performance. … With an ROE of 4.27%, Suntec Real Estate Investment Trust (SGX:T82U) returned in-line to its own industry which delivered 6.28% over the past year. … See our latest analysis for Suntec Real Estate Investment Trust
Simply Wall St - – Full articleShould Suntec Real Estate Investment Trust (SGX:T82U) Be Part Of Your Portfolio?
Dividends play an important role in compounding returns in the long run and end up forming a sizeable part of investment returns. … Suntec Real Estate Investment Trust (SGX:T82U) has returned to shareholders over the past 10 years, an average dividend yield of 8.00% annually. … Let's take a look at Suntec Real Estate Investment Trust in more detail.
Simply Wall St - – Full articleWhat You Must Know About Suntec Real Estate Investment Trust's (SGX:T82U) 4.27% ROE
Check out our latest analysis for Suntec Real Estate Investment Trust Peeling the layers of ROE – trisecting a company’s profitability Return on Equity (ROE) is a measure of Suntec Real Estate Investment Trust’s profit relative to its shareholders’ equity. … Since Suntec Real Estate Investment Trust’s return does not cover its cost, with a difference of -2.36%, this means its current use of equity is not efficient and not sustainable. … Although, its appropriate level of leverage means investors can be more confident in the sustainability of Suntec Real Estate Investment Trust’s return with a possible increase should the company decide to increase its debt levels.
Simply Wall St - – Full articleCompany Info
Description
Listed on 9 December 2004, Suntec REIT holds properties in Suntec City, Singapore’s largest integrated commercial development (including one of Singapore’s largest shopping Mall), a 60.8% interest in Suntec Singapore Convention & Exhibition Centre, a one-third interest in One Raffles Quay, a one-third interest in Marina Bay Financial Centre Towers 1 and 2 and the Marina Bay Link Mall, and a 30.0% interest in 9 Penang Road. Suntec REIT holds a 100% interest in a commercial building located at 177 Pacific Highway, Sydney, a 50.0% interest in Southgate Complex, Melbourne, and a 50.0% interest in a commercial building to be developed which is located at Olderfleet 477 Collins Street, Melbourne, Australia. Its aim is to invest in income-producing real estate which is primarily used for office and/or retail purposes. Suntec REIT is managed by an external manager, ARA Trust Management (Suntec) Limited.
Details
| Name: | Suntec Real Estate Investment Trust |
| T82U | |
| Exchange: | SGX |
| Founded: | 2004 |
| SGD5,066,214,604 | |
| 2,680,536,828 | |
| Website: | http://www.suntecreit.com |
| Address: |
Suntec Real Estate Investment Trust 5 Temasek Boulevard, #12-01, Singapore, 038985, Singapore |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| SGX | T82U | UNITS | Singapore Exchange | SG | SGD | 09. Dec 2004 | |
| OTCPK | SURV.F | UNITS | Pink Sheets LLC | US | USD | 09. Dec 2004 | |
| DB | P3G | UNITS | Deutsche Boerse AG | DE | EUR | 09. Dec 2004 |
Number of employees
Current staff
Industry
| Diversified REITs | |
| Real Estate |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/04/20 12:32 |
| End of day share price update: | 2019/04/18 00:00 |
| Last estimates confirmation: | 2019/04/19 |
| Last earnings filing: | 2019/03/28 |
| Last earnings reported: | 2018/12/31 |
| Last annual earnings reported: | 2018/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
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.
