IREIT Global (SGX-UD1U) which was listed on 13 August 2014, 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.
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Good value average dividend payer.
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's share price has been volatile over the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: UD1U exceeded the SG REITs industry which returned -6.5% over the past year.
Return vs Market: UD1U exceeded the SG Market which returned -19.9% over the past year.
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
4 days ago | Simply Wall StCould The IREIT Global (SGX:UD1U) Ownership Structure Tell Us Something Useful?
1 month ago | Simply Wall StIs It Time To Consider Buying IREIT Global (SGX:UD1U)?
2 months ago | Simply Wall StDid IREIT Global (SGX:UD1U) Insiders Sell Shares?
Is IREIT Global undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: UD1U (SGD0.72) is trading below our estimate of fair value (SGD1.99)
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 (4.2x) compared to the REITs industry average (13.4x).
PE vs Market: UD1U is good value based on its PE Ratio (4.2x) compared to the SG market (11.4x).
Price to Earnings Growth Ratio
PEG Ratio: UD1U's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: UD1U is overvalued based on its PB Ratio (0.8x) compared to the SG REITs industry average (0.8x).
How is IREIT Global forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: UD1U's earnings are forecast to decline over the next 3 years (-30.3% per year).
Earnings vs Market: UD1U's earnings are forecast to decline over the next 3 years (-30.3% per year).
High Growth Earnings: UD1U's earnings are forecast to decline over the next 3 years.
Revenue vs Market: UD1U's revenue (1.8% per year) is forecast to grow slower than the SG market (3.8% per year).
High Growth Revenue: UD1U's revenue (1.8% 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 (6.3%).
How has IREIT Global performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: UD1U has a large one-off gain of €68.7M impacting its December 31 2019 financial results.
Growing Profit Margin: UD1U's current net profit margins are higher than last year .
Past Earnings Growth Analysis
Earnings Trend: UD1U has become profitable over the past 5 years, growing earnings by 35.1% per year.
Accelerating Growth: UD1U's earnings growth over the past year (20.8%) is below its 5-year average (35.1% per year).
Earnings vs Industry: UD1U earnings growth over the past year (20.8%) exceeded the REITs industry 1.1%.
Return on Equity
High ROE: UD1U's Return on Equity (19.4%) is considered low.
How is IREIT Global's financial position?
Financial Position Analysis
Short Term Liabilities: UD1U's short term assets (€27.6M) exceed its short term liabilities (€17.5M).
Long Term Liabilities: UD1U's short term assets (€27.6M) do not cover its long term liabilities (€264.6M).
Debt to Equity History and Analysis
Debt Level: UD1U's debt to equity ratio (65.3%) is considered high.
Reducing Debt: UD1U's debt to equity ratio has increased from 47.8% to 65.3% over the past 5 years.
Debt Coverage: UD1U's debt is not well covered by operating cash flow (12.6%).
Interest Coverage: UD1U's interest payments on its debt are well covered by EBIT (7.8x coverage).
What is IREIT Global's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: UD1U's dividend (7.77%) is higher than the bottom 25% of dividend payers in the SG market (2.71%).
High Dividend: UD1U's dividend (7.77%) is in the top 25% of dividend payers in the SG market (6.52%)
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 5 years.
Current Payout to Shareholders
Dividend Coverage: At its current payout ratio (78.1%), UD1U's payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: UD1U's dividends in 3 years are forecast to be covered by earnings (96.6% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average board tenure
Louis d'Estienne d'Orves
Mr. Louis d'Estienne d'Orves serves as Chief Executive Officer of IREIT Global.
|Non-Executive Director of IREIT Global Group Pte Ltd||1.17yrs||€25.00k||no data|
|Independent Chairman of the Board of IREIT Global Group Pte Ltd||no data||€95.00k||0.045% €211.7k|
|Independent Non-Executive Director of IREIT Global Group Pte Ltd||5.92yrs||€80.00k||0.047% €219.0k|
|Non-Executive Director of IREIT Global Group Pte Ltd||3.58yrs||€25.00k||0.031% €146.0k|
|Independent Non-Executive Director of IREIT Global Group Pte Ltd||6.5yrs||€72.50k||0.023% €105.8k|
Experienced Board: UD1U's board of directors are considered experienced (4.6 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: UD1U insiders have sold more shares than they have bought in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
IREIT Global's company bio, employee growth, exchange listings and data sources
- Name: IREIT Global
- Ticker: UD1U
- Exchange: SGX
- Industry: Office REITs
- Sector: Real Estate
- Market Cap: S$466.006m
- Shares outstanding: 638.36m
- Website: https://www.ireitglobal.com
- IREIT Global
- 8 Marina View
- #15-07A Asia Square Tower 1
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|UD1U||SGX (Singapore Exchange)||Yes||Units||SG||SGD||Aug 2014|
IREIT Global (SGX-UD1U) which was listed on 13 August 2014, 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. IREIT Global’s current portfolio comprises five freehold office properties in Germany, located in Berlin, Bonn, Darmstadt, Münster and Munich and four freehold office properties in Spain, located in Madrid and Barcelona. IREIT Global is managed by IREIT Global Group Pte. Ltd. (the Manager), which is jointly owned by Tikehau Capital and City Developments Limited (CDL). Tikehau Capital is an asset management and investment group listed in France, while CDL is a leading real estate operating company listed in Singapore.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/06/01 13:35|
|End of Day Share Price||2020/06/01 00:00|
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.