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Suntec Real Estate Investment Trust

SGX:T82U
Snowflake Description

Second-rate dividend payer with questionable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
T82U
SGX
SGD5B
Market Cap
  1. Home
  2. SG
  3. Real Estate
Company 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 which is under construction. The last earnings update was 63 days ago. More info.


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T82U Share Price and Events
7 Day Returns
2.1%
SGX:T82U
1.4%
SG REITs
2.7%
SG Market
1 Year Returns
11.5%
SGX:T82U
14.7%
SG REITs
0.8%
SG Market
T82U Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Suntec Real Estate Investment Trust (T82U) 2.1% 7.2% -2% 11.5% 12.8% 7.8%
SG REITs 1.4% 4.9% 5% 14.7% 23.5% 15.7%
SG Market 2.7% 4.1% 2.4% 0.8% 14.7% -4.4%
1 Year Return vs Industry and Market
  • T82U underperformed the REITs industry which returned 14.7% over the past year.
  • T82U outperformed the Market in Singapore which returned 0.8% over the past year.
Price Volatility
T82U
Industry
5yr Volatility vs Market

Value

 Is Suntec Real Estate Investment Trust undervalued based on future cash flows and its price relative to the stock market?

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.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Suntec Real Estate Investment Trust.

SGX:T82U Discounted Cash Flow Data Sources
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 7.3%
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.

Calculation of Discount Rate/ Cost of Equity for SGX:T82U
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 0.49
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.494 (1 + (1- 17%) (65.45%))
0.84
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.84
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.3% + (0.84 * 5.96%)
7.31%

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.

SGX:T82U DCF 1st Stage: Next 10 year cash flow forecast
Adjusted Funds From Operations (AFFO) (SGD, Millions) Source Present Value
Discounted (@ 7.31%)
2019 160.00 Analyst x1 149.10
2020 163.50 Analyst x2 141.98
2021 167.00 Analyst x2 135.14
2022 170.65 Est @ 2.19% 128.69
2023 174.45 Est @ 2.22% 122.59
2024 178.37 Est @ 2.25% 116.80
2025 182.40 Est @ 2.26% 111.31
2026 186.56 Est @ 2.28% 106.08
2027 190.82 Est @ 2.28% 101.11
2028 195.18 Est @ 2.29% 96.38
Present value of next 10 years cash flows SGD1,209.19
SGX:T82U DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= SGD195.18 × (1 + 2.3%) ÷ (7.31% – 2.3%)
SGD3,987.18
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= SGD3,987.18 ÷ (1 + 7.31%)10
SGD1,968.89
SGX:T82U Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= SGD1,209.19 + SGD1,968.89
SGD3,178.08
Equity Value per Share
(SGD)
= Total value / Shares Outstanding
= SGD3,178.08 / 2,794.65
SGD1.14
SGX:T82U Discount to Share Price
Calculation Result
Value per share (SGD) From above. SGD1.14
Current discount Discount to share price of SGD1.94
= -1 x (SGD1.94 - SGD1.14) / SGD1.14
-70.6%

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.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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?
Raw Data
SGX:T82U PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in SGD SGD0.11
SGX:T82U Share Price ** SGX (2019-06-25) in SGD SGD1.94
Singapore REITs Industry PE Ratio Median Figure of 39 Publicly-Listed REITs Companies 14.47x
Singapore Market PE Ratio Median Figure of 324 Publicly-Listed Companies 12.49x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Suntec Real Estate Investment Trust.

SGX:T82U PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SGX:T82U Share Price ÷ EPS (both in SGD)

= 1.94 ÷ 0.11

18.17x

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?
Raw Data
SGX:T82U PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 18.17x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 15 Analysts
2%per year
Singapore REITs Industry PEG Ratio Median Figure of 36 Publicly-Listed REITs Companies 1.78x
Singapore Market PEG Ratio Median Figure of 118 Publicly-Listed Companies 1.64x

*Line of best fit is calculated by linear regression .

SGX:T82U PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 18.17x ÷ 2%

9.18x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Suntec Real Estate Investment Trust is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Suntec Real Estate Investment Trust's assets?
Raw Data
SGX:T82U PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in SGD SGD2.09
SGX:T82U Share Price * SGX (2019-06-25) in SGD SGD1.94
Singapore REITs Industry PB Ratio Median Figure of 41 Publicly-Listed REITs Companies 0.98x
Singapore Market PB Ratio Median Figure of 431 Publicly-Listed Companies 0.7x
SGX:T82U PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SGX:T82U Share Price ÷ Book Value per Share (both in SGD)

= 1.94 ÷ 2.09

0.93x

* 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.
X
Value checks
We assess Suntec Real Estate Investment Trust's value by looking at:
  1. 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. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. 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

 How is Suntec Real Estate Investment Trust expected to perform in the next 1 to 3 years based on estimates from 15 analysts?

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!
Annual Growth Rate
2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Suntec Real Estate Investment Trust expected to grow at an attractive rate?
  • Suntec Real Estate Investment Trust's earnings growth is positive but not above the low risk savings rate of 2.3%.
Growth vs Market Checks
  • Suntec Real Estate Investment Trust's earnings growth is positive but not above the Singapore market average.
  • Suntec Real Estate Investment Trust's revenue growth is positive but not above the Singapore market average.
Annual Growth Rates Comparison
Raw Data
SGX:T82U Future Growth Rates Data Sources
Data Point Source Value (per year)
SGX:T82U Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 15 Analysts 2%
SGX:T82U Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 15 Analysts 2.1%
Singapore REITs Industry Earnings Growth Rate Market Cap Weighted Average -4.3%
Singapore REITs Industry Revenue Growth Rate Market Cap Weighted Average 3.9%
Singapore Market Earnings Growth Rate Market Cap Weighted Average 5.6%
Singapore Market Revenue Growth Rate Market Cap Weighted Average 4.7%

*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
Raw Data
SGX:T82U Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below
All numbers in SGD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SGX:T82U Future Estimates Data
Date (Data in SGD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 399 225 218 12
2020-12-31 386 229 204 15
2019-12-31 370 235 190 15
SGX:T82U Past Financials Data
Date (Data in SGD Millions) Revenue Cash Flow Net Income *
2019-03-31 472 209 285
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

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Suntec Real Estate Investment Trust's earnings are expected to grow by 2% yearly, however this is not considered high growth (20% yearly).
  • Suntec Real Estate Investment Trust's revenue is expected to grow by 2.1% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
SGX:T82U Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 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 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SGX:T82U Future Estimates Data
Date (Data in SGD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.08 0.10 0.06 10.00
2020-12-31 0.08 0.14 0.05 11.00
2019-12-31 0.08 0.11 0.05 12.00
SGX:T82U Past Financials Data
Date (Data in SGD Millions) EPS *
2019-03-31 0.11
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

*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%).
X
Future performance checks
We assess Suntec Real Estate Investment Trust's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Singapore market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Singapore market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
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
Below we compare Suntec Real Estate Investment Trust's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • 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 (21.7% vs -7.9%)
  • Suntec Real Estate Investment Trust's earnings growth has exceeded the SG REITs industry average in the past year (21.7% vs 2%).
Earnings and Revenue History
Suntec Real Estate Investment Trust's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Suntec Real Estate Investment Trust Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SGX:T82U Past Revenue, Cash Flow and Net Income Data
Date (Data in SGD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 471.54 285.13 3.46
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 4.51
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).
X
Past performance checks
We assess Suntec Real Estate Investment Trust's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
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.
Net Worth
  • 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
This treemap shows a more detailed breakdown of Suntec Real Estate Investment Trust's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • 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.
Raw Data

All data from Suntec Real Estate Investment Trust Company Filings, last reported 2 months ago.

SGX:T82U Past Debt and Equity Data
Date (Data in SGD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 5,743.20 3,548.68 121.92
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 (61.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (61.5% vs 61.8% today).
  • Debt is not well covered by operating cash flow (5.9%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4x coverage).
X
Financial health checks
We assess Suntec Real Estate Investment Trust's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Suntec Real Estate Investment Trust has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. 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

 What is Suntec Real Estate Investment Trust's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.15%
Current annual income from Suntec Real Estate Investment Trust dividends. Estimated to be 5.15% next year.
If you bought SGD2,000 of Suntec Real Estate Investment Trust shares you are expected to receive SGD103 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Suntec Real Estate Investment Trust's pays a higher dividend yield than the bottom 25% of dividend payers in Singapore (2.63%).
  • Suntec Real Estate Investment Trust's dividend is below the markets top 25% of dividend payers in Singapore (5.59%).
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.
Raw Data
SGX:T82U Annualized Past and Future Dividends
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 5.4%
Singapore Market Average Dividend Yield Market Cap Weighted Average of 277 Stocks 3.9%
Singapore Minimum Threshold Dividend Yield 10th Percentile 1.7%
Singapore Bottom 25% Dividend Yield 25th Percentile 2.6%
Singapore Top 25% Dividend Yield 75th Percentile 5.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

SGX:T82U Future Dividends Estimate Data
Date (Data in SGD) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.10 15.00
2020-12-31 0.10 18.00
2019-12-31 0.10 18.00
SGX:T82U Past Annualized Dividends Data
Date (Data in SGD) Dividend per share (annual) Avg. Yield (%)
2019-01-22 0.100 5.278
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

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.
Current Payout to shareholders
What portion of Suntec Real Estate Investment Trust's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (1886.8x coverage).
X
Income/ dividend checks
We assess Suntec Real Estate Investment Trust's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.7%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. 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)
  7. 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

 What is the CEO of Suntec Real Estate Investment Trust's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Kee Hiong Chong
TENURE AS CEO 0.4 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:

2.3
Average Tenure
  • The tenure for the Suntec Real Estate Investment Trust management team is about average.
Management Team

Kee Hiong Chong

TITLE
CEO & Executive Director of ARA Trust Management (Suntec) Limited
TENURE
0.4 yrs

Ee Ng

TITLE
Finance Director of ARA Trust Management (Suntec) Limited
AGE
42
TENURE
2.3 yrs

Dawn Lai

TITLE
Chief Operating Officer of ARA Trust Management (Suntec) Limited
TENURE
0.7 yrs

Melissa Chow

TITLE
Manager of Investor Relations - ARA Trust Management (Suntec) Limited
TENURE
8.4 yrs

Patrick Lum

TITLE
Chief Executive officer of Suntec City Development Pte Ltd

Sharon Yeoh

TITLE
Company Secretary of ARA Trust Management (Suntec) Limited
AGE
59

Wai Chiang

TITLE
Company Secretary of ARA Trust Management (Suntec) Limited

Kar Tung Quek

TITLE
Director of Business Development of the ARA Group
TENURE
14 yrs

Stella Chiam

TITLE
Secretary & Director of Legal & Corporate Affairs - Suntec City Development Pte Ltd

Keng Tay

TITLE
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:

2.4
Average Tenure
61
Average Age
  • 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

TITLE
Non-Executive Chairman of ARA Trust Management (Suntec) Limited
COMPENSATION
SGD120K
AGE
56
TENURE
5.2 yrs

Kee Hiong Chong

TITLE
CEO & Executive Director of ARA Trust Management (Suntec) Limited
TENURE
0.4 yrs

Chee Yap

TITLE
Lead Independent Non-Executive Director
AGE
63
TENURE
0.2 yrs

John Chow

TITLE
Non-Executive Director of ARA Trust Management (Suntec) Limited
COMPENSATION
SGD60K
AGE
69
TENURE
11.9 yrs

John Lim

TITLE
Non-Executive Director of ARA Trust Management (Suntec) Limited
COMPENSATION
SGD60K
AGE
61
TENURE
14.8 yrs

Peter Chan

TITLE
Independent Non-Executive Director ARA Trust Management (Suntec) Limited
COMPENSATION
SGD80K
AGE
58
TENURE
2.4 yrs

Yee Yu-Foo

TITLE
Independent Non-Executive Director of ARA Trust Management (Suntec) Limited
COMPENSATION
SGD80K
AGE
67
TENURE
2.4 yrs

Wai Han Lock

TITLE
Independent Non-Executive Director of ARA Trust Management (Suntec) Limited
COMPENSATION
SGD34K
AGE
50
TENURE
0.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (SGD) Value (SGD)
29. Apr 19 Sell BlackRock, Inc. Company 25. Apr 19 25. Apr 19 -188,200 SGD1.85 SGD-348,170
24. Apr 19 Buy ARA Asset Management Limited Company 24. Apr 19 24. Apr 19 3,004,969 SGD1.95 SGD5,870,810
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
X
Management checks
We assess Suntec Real Estate Investment Trust's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. 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

Suntec Real Estate Investment Trust (SGX:T82U) Shareholders Have Enjoyed A 12% Share Price Gain

Just take a look at Suntec Real Estate Investment Trust (SGX:T82U), which is up 12%, over three years, soundly beating the market return of 7.5% (not including dividends). … During the three years of share price growth, Suntec Real Estate Investment Trust actually saw its earnings per share (EPS) drop 7.5% per year. … We note that for Suntec Real Estate Investment Trust the TSR over the last 3 years was 32%, which is better than the share price return mentioned above.

Simply Wall St -

Have Insiders Been Buying Suntec Real Estate Investment Trust (SGX:T82U) Shares This Year?

So shareholders might well want to know whether insiders have been buying or selling shares in Suntec Real Estate Investment Trust (SGX:T82U). … Check out our latest analysis for Suntec Real Estate Investment Trust Suntec Real Estate Investment Trust Insider Transactions Over The Last Year Over the last year, we can see that the biggest insider purchase was by Yigang Tang for S$62m worth of shares, at about S$1.87 per share. … Judging from their transactions, and high insider ownership, Suntec Real Estate Investment Trust insiders feel good about the company's future.

Simply Wall St -

What Kind Of Shareholder Owns Most Suntec Real Estate Investment Trust (SGX:T82U) Stock?

If you want to know who really controls Suntec Real Estate Investment Trust (SGX:T82U), then you'll have to look at the makeup of its share registry. … With a market capitalization of S$5.0b, Suntec Real Estate Investment Trust is rather large. … View our latest analysis for Suntec Real Estate Investment Trust

Simply Wall St -

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 -

Does 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 -

Is 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 -

What 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 -

Are 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 -

What 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 -

Who 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 -

Company 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 which is under construction. 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 under development 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
SGD5,421,626,426
2,794,652,797
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
Staff numbers
0
Suntec Real Estate Investment Trust employees.
Industry
Diversified REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/25 12:32
End of day share price update: 2019/06/25 00:00
Last estimates confirmation: 2019/06/21
Last earnings filing: 2019/04/23
Last earnings reported: 2019/03/31
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.