SGX:UD1U

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Executive Summary

IREIT Global (“IREIT”) is the first Singapore-listed real estate investment trust with the investment strategy of principally investing, directly or indirectly, in a portfolio of income-producing real estate in Europe which is used primarily for office, retail and industrial (including logistics) purposes, as well as real estate-related assets. More Details


Snowflake Analysis

Undervalued with mediocre balance sheet.

Share Price & News

How has IREIT Global's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: UD1U is less volatile than 75% of SG stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: UD1U's weekly volatility (3%) has been stable over the past year.


Market Performance


7 Day Return

-2.3%

UD1U

-1.1%

SG REITs

0.3%

SG Market


1 Year Return

-19.5%

UD1U

-14.3%

SG REITs

-3.4%

SG Market

Return vs Industry: UD1U underperformed the SG REITs industry which returned -14.3% over the past year.

Return vs Market: UD1U underperformed the SG Market which returned -3.4% over the past year.


Shareholder returns

UD1UIndustryMarket
7 Day-2.3%-1.1%0.3%
30 Day-3.0%-4.3%1.6%
90 Day-0.8%-0.6%6.1%
1 Year-4.3%-19.5%-9.9%-14.3%1.7%-3.4%
3 Year11.4%-19.0%17.2%-2.4%-7.1%-18.5%
5 Year49.4%-7.2%45.7%7.6%17.8%-3.8%

Long-Term Price Volatility Vs. Market

How volatile is IREIT Global's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is IREIT Global undervalued compared to its fair value and its price relative to the market?

33.8%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: UD1U (SGD0.64) is trading below our estimate of fair value (SGD0.97)

Significantly Below Fair Value: UD1U is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: UD1U is good value based on its PE Ratio (14.1x) compared to the SG REITs industry average (22.2x).

PE vs Market: UD1U is good value based on its PE Ratio (14.1x) compared to the SG market (14.2x).


Price to Earnings Growth Ratio

PEG Ratio: UD1U is good value based on its PEG Ratio (1x)


Price to Book Ratio

PB vs Industry: UD1U's PB Ratio (0.8x) is in line with the SG REITs industry average.


Next Steps

Future Growth

How is IREIT Global forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

14.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: UD1U's forecast earnings growth (14.5% per year) is above the savings rate (2%).

Earnings vs Market: UD1U's earnings (14.5% per year) are forecast to grow slower than the SG market (25.6% per year).

High Growth Earnings: UD1U's earnings are forecast to grow, but not significantly.

Revenue vs Market: UD1U's revenue (6.1% per year) is forecast to grow slower than the SG market (9.1% per year).

High Growth Revenue: UD1U's revenue (6.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: UD1U's Return on Equity is forecast to be low in 3 years time (6.7%).


Next Steps

Past Performance

How has IREIT Global performed over the past 5 years?

22.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: UD1U has a large one-off gain of €6.6M impacting its December 31 2020 financial results.

Growing Profit Margin: UD1U's current net profit margins (51%) are lower than last year .


Past Earnings Growth Analysis

Earnings Trend: UD1U's earnings have grown significantly by 22.2% per year over the past 5 years.

Accelerating Growth: UD1U's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: UD1U had negative earnings growth (-71.4%) over the past year, making it difficult to compare to the REITs industry average (-29.3%).


Return on Equity

High ROE: UD1U's Return on Equity (4.5%) is considered low.


Next Steps

Financial Health

How is IREIT Global's financial position?


Financial Position Analysis

Short Term Liabilities: UD1U's short term assets (€46.3M) exceed its short term liabilities (€21.2M).

Long Term Liabilities: UD1U's short term assets (€46.3M) do not cover its long term liabilities (€306.1M).


Debt to Equity History and Analysis

Debt Level: UD1U's debt to equity ratio (59.9%) is considered high.

Reducing Debt: UD1U's debt to equity ratio has reduced from 78.6% to 59.9% over the past 5 years.

Debt Coverage: UD1U's debt is not well covered by operating cash flow (10%).

Interest Coverage: UD1U's interest payments on its debt are well covered by EBIT (6.2x coverage).


Balance Sheet


Next Steps

Dividend

What is IREIT Global current dividend yield, its reliability and sustainability?

7.80%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: UD1U's dividend (7.8%) is higher than the bottom 25% of dividend payers in the SG market (1.97%).

High Dividend: UD1U's dividend (7.8%) is in the top 25% of dividend payers in the SG market (4.77%)


Stability and Growth of Payments

Stable Dividend: UD1U has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: UD1U's dividend payments have increased, but the company has only paid a dividend for 6 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (85.8%), UD1U's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: UD1U's dividends in 3 years are not forecast to be well covered by earnings (100.8% payout ratio).


Next Steps

Management

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

4.3yrs

Average board tenure


CEO

Louis d'Estienne d'Orves

no data

Tenure

Mr. Louis d'Estienne d'Orves serves as Chief Executive Officer of IREIT Global Group Pte. Ltd. at IREIT Global.


Board Members

NamePositionTenureCompensationOwnership
Shao-Hong Khoo
Non-Executive Director of IREIT Global Group Pte Ltd1.92yrs€16.56kno data
Kok Min Lim
Independent Chairman of the Board of IREIT Global Group Pte Ltdno data€62.94k0.045%
€ 272.0k
Wee Peng Tan
Independent Non-Executive Director of IREIT Global Group Pte Ltd6.67yrs€53.00k0.047%
€ 281.3k
Sanjay Kumar Bakliwal
Non-Executive Director of IREIT Global Group Pte Ltd0.75yrno data0.0016%
€ 9.4k
Lay Chew Chng
Independent Non-Executive Director of IREIT Global Group Pte Ltdno datano datano data
De Geis De Guyon Bruno Alfred Mari de Pampelonne
Non-Executive Director of IREIT Global Group Pte Ltd4.33yrs€16.56k0.031%
€ 187.5k
Nir Ellenbogen
Independent Non-Executive Director of IREIT Global Group Pte Ltd7.25yrs€48.03k0.022%
€ 136.0k

4.3yrs

Average Tenure

59yo

Average Age

Experienced Board: UD1U's board of directors are considered experienced (4.3 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 46.8%.


Top Shareholders

Company Information

IREIT Global's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: IREIT Global
  • Ticker: UD1U
  • Exchange: SGX
  • Founded: NaN
  • Industry: Office REITs
  • Sector: Real Estate
  • Market Cap: S$604.395m
  • Shares outstanding: 937.05m
  • Website: https://www.ireitglobal.com

Location

  • IREIT Global
  • 1 Wallich Street
  • #15-03 Guoco Tower
  • Singapore
  • 78881
  • Singapore

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
UD1USGX (Singapore Exchange)YesUnitsSGSGDAug 2014

Biography

IREIT Global (“IREIT”) is the first Singapore-listed real estate investment trust with the investment strategy of principally investing, directly or indirectly, in a portfolio of income-producing real esta...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/03/05 11:07
End of Day Share Price2021/03/05 00:00
Earnings2020/12/31
Annual Earnings2020/12/31


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.