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Ascendas India Trust

OTCPK:ACND.F
Snowflake Description

Undervalued with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ACND.F
OTCPK
SGD1B
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

Ascendas India Trust (“a-iTrust” or the “Trust”) was listed in August 2007 as the first Indian property trust in Asia. The last earnings update was 30 days ago. More info.


Add to Portfolio Compare Print
  • Ascendas India Trust is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
ACND.F Share Price and Events
7 Day Returns
-2.1%
OTCPK:ACND.F
-2.2%
US Real Estate
-2.1%
US Market
1 Year Returns
17.8%
OTCPK:ACND.F
-17.2%
US Real Estate
1.3%
US Market
ACND.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Ascendas India Trust (ACND.F) -2.1% 5.2% 8.3% 17.8% 37.4% 53.5%
US Real Estate -2.2% -9.8% -12.3% -17.2% 13.7% -0.3%
US Market -2.1% -4.2% 0% 1.3% 33.5% 38%
1 Year Return vs Industry and Market
  • ACND.F outperformed the Real Estate industry which returned -17.2% over the past year.
  • ACND.F outperformed the Market in United States of America which returned 1.3% over the past year.
Price Volatility
ACND.F
Industry
5yr Volatility vs Market

Value

 Is Ascendas India 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 Ascendas India 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 Ascendas India Trust.

OTCPK:ACND.F Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 11.1%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

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 OTCPK:ACND.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Real Estate Unlevered Beta Simply Wall St/ S&P Global 1.11
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.106 (1 + (1- 17%) (53.97%))
1.403
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.4
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.403 * 5.96%)
11.09%

Discounted Cash Flow Calculation for OTCPK:ACND.F using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Ascendas India 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.

OTCPK:ACND.F DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (SGD, Millions) Source Present Value
Discounted (@ 11.09%)
2019 116.00 Analyst x1 104.42
2020 82.00 Analyst x1 66.44
2021 253.00 Analyst x1 184.52
2022 293.10 Est @ 15.85% 192.42
2023 328.01 Est @ 11.91% 193.84
2024 358.05 Est @ 9.16% 190.46
2025 383.94 Est @ 7.23% 183.83
2026 406.51 Est @ 5.88% 175.20
2027 426.58 Est @ 4.93% 165.49
2028 444.80 Est @ 4.27% 155.33
Present value of next 10 years cash flows SGD1,611.95
OTCPK:ACND.F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= SGD444.80 × (1 + 2.73%) ÷ (11.09% – 2.73%)
SGD5,463.16
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= SGD5,463.16 ÷ (1 + 11.09%)10
SGD1,907.79
OTCPK:ACND.F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= SGD1,611.95 + SGD1,907.79
SGD3,519.74
Equity Value per Share
(SGD)
= Total value / Shares Outstanding
= SGD3,519.74 / 1,042.20
SGD3.38
OTCPK:ACND.F Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:ACND.F represents 0.70823x of SGX:CY6U
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.70823x
Value per Share
(Listing Adjusted, USD)
= Value per Share (SGD) x Listing Adjustment Factor
= SGD 3.38 x 0.70823
$2.39
Value per share (USD) From above. $2.39
Current discount Discount to share price of $0.92
= -1 x ($0.92 - $2.39) / $2.39
61.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Ascendas India Trust is available for.
Intrinsic value
>50%
Share price is $0.92 vs Future cash flow value of $2.39
Current Discount Checks
For Ascendas India Trust to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Ascendas India Trust's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Ascendas India Trust's share price is below the future cash flow value, and at a substantial discount (> 40%).
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 Ascendas India Trust's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Ascendas India Trust's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:ACND.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in SGD SGD0.19
SGX:CY6U Share Price ** SGX (2019-05-20) in SGD SGD1.3
United States of America Real Estate Industry PE Ratio Median Figure of 26 Publicly-Listed Real Estate Companies 14.91x
United States of America Market PE Ratio Median Figure of 3,082 Publicly-Listed Companies 17.36x

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

** Primary Listing of Ascendas India Trust.

OTCPK:ACND.F PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SGX:CY6U Share Price ÷ EPS (both in SGD)

= 1.3 ÷ 0.19

7.02x

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

  • Ascendas India Trust is good value based on earnings compared to the US Real Estate industry average.
  • Ascendas India Trust is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Ascendas India Trust's expected growth come at a high price?
Raw Data
OTCPK:ACND.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.02x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
-32.9%per year
United States of America Real Estate Industry PEG Ratio Median Figure of 12 Publicly-Listed Real Estate Companies 0.43x
United States of America Market PEG Ratio Median Figure of 2,120 Publicly-Listed Companies 1.5x

*Line of best fit is calculated by linear regression .

OTCPK:ACND.F PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 7.02x ÷ -32.9%

-0.21x

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

  • Ascendas India 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 Ascendas India Trust's assets?
Raw Data
OTCPK:ACND.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in SGD SGD1.02
SGX:CY6U Share Price * SGX (2019-05-20) in SGD SGD1.3
United States of America Real Estate Industry PB Ratio Median Figure of 51 Publicly-Listed Real Estate Companies 1.5x
United States of America Market PB Ratio Median Figure of 5,207 Publicly-Listed Companies 1.8x
OTCPK:ACND.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SGX:CY6U Share Price ÷ Book Value per Share (both in SGD)

= 1.3 ÷ 1.02

1.28x

* Primary Listing of Ascendas India Trust.

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

  • Ascendas India Trust is good value based on assets compared to the US Real Estate industry average.
X
Value checks
We assess Ascendas India 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 Real Estate 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 Real Estate industry average (and greater than 0)? (1 check)
  5. Ascendas India Trust has a total score of 5/6, 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 Ascendas India Trust expected to perform in the next 1 to 3 years based on estimates from 3 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
-32.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Ascendas India Trust expected to grow at an attractive rate?
  • Ascendas India Trust's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Ascendas India Trust's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • Ascendas India Trust's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:ACND.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:ACND.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts -32.9%
OTCPK:ACND.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 17.2%
United States of America Real Estate Industry Earnings Growth Rate Market Cap Weighted Average 4%
United States of America Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 4.7%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.7%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*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
OTCPK:ACND.F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in SGD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:ACND.F Future Estimates Data
Date (Data in SGD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-03-31 259 198 99 2
2020-03-31 205 87 83 3
OTCPK:ACND.F Past Financials Data
Date (Data in SGD Millions) Revenue Cash Flow Net Income *
2019-03-31 182 149 192
2018-12-31 185 156 198
2018-09-30 186 149 190
2018-06-30 187 131 192
2018-03-31 188 123 191
2017-12-31 182 98 137
2017-09-30 175 96 138
2017-06-30 167 96 146
2017-03-31 157 95 139
2016-12-31 148 104 120
2016-09-30 147 93 109
2016-06-30 146 97 106

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Ascendas India Trust's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Ascendas India Trust's revenue is expected to grow by 17.2% 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
OTCPK:ACND.F Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Ascendas India Trust Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:ACND.F Future Estimates Data
Date (Data in SGD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-03-31 0.09 0.09 0.09 3.00
2020-03-31 0.08 0.09 0.08 2.00
OTCPK:ACND.F Past Financials Data
Date (Data in SGD Millions) EPS *
2019-03-31 0.19
2018-12-31 0.19
2018-09-30 0.19
2018-06-30 0.20
2018-03-31 0.20
2017-12-31 0.15
2017-09-30 0.15
2017-06-30 0.16
2017-03-31 0.15
2016-12-31 0.13
2016-09-30 0.12
2016-06-30 0.11

*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.
  • Ascendas India Trust is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Ascendas India 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 United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America 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.
Ascendas India Trust has a total score of 1/6, 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 Ascendas India 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 Ascendas India Trust's growth in the last year to its industry (Real Estate).
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.
  • Ascendas India Trust has delivered over 20% year on year earnings growth in the past 5 years.
  • Ascendas India Trust's 1-year earnings growth is less than its 5-year average (0.4% vs 28.2%)
  • Ascendas India Trust's earnings growth has exceeded the US Real Estate industry average in the past year (0.4% vs -15.8%).
Earnings and Revenue History
Ascendas India 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 Ascendas India Trust Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:ACND.F Past Revenue, Cash Flow and Net Income Data
Date (Data in SGD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 181.97 192.12 13.87
2018-12-31 184.66 197.82 16.14
2018-09-30 186.23 189.94 15.81
2018-06-30 186.99 192.27 15.44
2018-03-31 188.15 191.31 14.97
2017-12-31 182.38 136.51 13.10
2017-09-30 175.18 137.97 13.05
2017-06-30 166.70 145.61 12.46
2017-03-31 156.67 139.17 11.97
2016-12-31 148.38 120.24 10.55
2016-09-30 146.53 108.85 10.24
2016-06-30 145.86 105.97 10.33
2016-03-31 143.96 104.73 10.26
2015-12-31 141.12 63.60 10.25
2015-09-30 135.42 64.72 9.62
2015-06-30 131.05 62.53 9.13
2015-03-31 128.76 65.91 8.77
2014-12-31 127.28 63.09 8.87
2014-09-30 124.48 63.91 8.68
2014-06-30 121.32 56.73 8.44
2014-03-31 120.71 50.11 8.42
2013-12-31 119.79 44.58 7.83
2013-09-30 122.55 38.99 7.97
2013-06-30 125.49 47.53 8.17
2013-03-31 126.27 41.52 8.10
2012-12-31 129.90 28.22 9.15
2012-09-30 128.80 28.53 9.13
2012-06-30 128.32 22.78 9.16

*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.
  • Ascendas India Trust has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Ascendas India Trust used its assets more efficiently than the US Real Estate industry average last year based on Return on Assets.
  • Ascendas India Trust's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Ascendas India 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 Real Estate 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.
Ascendas India Trust has a total score of 3/6, 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 Ascendas India 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 Ascendas India Trust's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Ascendas India Trust's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Ascendas India Trust's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Ascendas India 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.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.2x 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 Ascendas India Trust Company Filings, last reported 1 month ago.

OTCPK:ACND.F Past Debt and Equity Data
Date (Data in SGD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 1,136.75 731.29 108.48
2018-12-31 988.60 708.66 99.08
2018-09-30 963.24 670.73 89.15
2018-06-30 1,013.33 656.85 66.33
2018-03-31 1,003.57 515.67 109.81
2017-12-31 804.94 508.86 88.46
2017-09-30 798.83 489.41 72.94
2017-06-30 816.34 483.01 58.35
2017-03-31 817.18 466.18 75.00
2016-12-31 721.21 446.29 127.94
2016-09-30 692.73 420.20 112.50
2016-06-30 656.88 414.05 116.87
2016-03-31 691.45 364.42 85.92
2015-12-31 639.45 363.08 79.77
2015-09-30 652.50 348.00 85.48
2015-06-30 635.36 337.94 71.61
2015-03-31 676.09 319.89 69.79
2014-12-31 596.11 250.42 77.74
2014-09-30 609.65 251.36 96.68
2014-06-30 596.93 249.40 70.14
2014-03-31 608.11 236.61 74.38
2013-12-31 571.10 226.41 61.47
2013-09-30 560.06 206.01 51.20
2013-06-30 590.39 205.93 45.33
2013-03-31 648.60 206.06 69.86
2012-12-31 596.12 164.25 60.56
2012-09-30 530.62 249.34 53.10
2012-06-30 493.54 249.23 38.65
  • Ascendas India Trust's level of debt (64.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (38.9% vs 64.3% today).
  • Debt is well covered by operating cash flow (20.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 14x coverage).
X
Financial health checks
We assess Ascendas India 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. Ascendas India Trust has a total score of 2/6, 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 Ascendas India 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
5.77%
Current annual income from Ascendas India Trust dividends. Estimated to be 6.48% next year.
If you bought $2,000 of Ascendas India Trust shares you are expected to receive $115 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?
  • Ascendas India Trust's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.47%).
  • Ascendas India Trust's dividend is above the markets top 25% of dividend payers in United States of America (3.76%).
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
OTCPK:ACND.F 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 3 Analyst Estimates (S&P Global) See Below
United States of America Real Estate Industry Average Dividend Yield Market Cap Weighted Average of 16 Stocks 2.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2008 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

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

OTCPK:ACND.F Future Dividends Estimate Data
Date (Data in SGD) Dividend per Share (annual) Avg. No. Analysts
2021-03-31 0.09 3.00
2020-03-31 0.08 2.00
OTCPK:ACND.F Past Annualized Dividends Data
Date (Data in SGD) Dividend per share (annual) Avg. Yield (%)
2019-04-25 0.075 5.802
2018-10-24 0.069 6.199
2018-06-11 0.061 5.630
2018-04-25 0.061 5.798
2017-10-25 0.058 5.336
2017-04-26 0.057 5.022
2016-10-25 0.055 5.132
2016-04-27 0.055 5.454
2016-01-21 0.055 6.304
2015-10-26 0.055 6.362
2015-04-29 0.049 5.567
2015-01-26 0.048 5.277
2015-01-15 0.048 5.515
2014-10-27 0.048 5.859
2014-04-24 0.046 5.701
2013-10-25 0.044 6.212
2013-04-26 0.043 6.204
2013-01-22 0.050 6.043
2012-10-25 0.050 6.541
2012-06-27 0.059 7.592
2012-04-27 0.059 7.751
2012-01-26 0.061 7.521
2011-10-28 0.061 8.443
2011-04-27 0.064 7.276
2010-10-22 0.067 7.019
2010-06-08 0.076 7.681
2010-04-29 0.076 7.973
2009-06-02 0.075 8.654

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Ascendas India Trust's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.5x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (1x coverage).
X
Income/ dividend checks
We assess Ascendas India Trust's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - 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 Ascendas India Trust afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Ascendas India 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 Ascendas India 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
Sanjeev Prasad Dasgupta
AGE 51
TENURE AS CEO 4.6 years
CEO Bio

Mr. Sanjeev Djurhati Prasad Dasgupta has been the Chief Executive Officer at Ascendas Property Fund Trustee Pte Ltd. since July 11, 2014 and previously served as Assistant Chief Executive of Ascendas Property Fund Trustee Pte Ltd. Mr. Dasgupta serves as the Chief Executive Officer of Ascendas Property Fund Trustee Pte Ltd - Trustee-Manager of Ascendas India Trust and served as its Assistant Chief Executive Officer. He has been an Executive Director of Ascendas Property Fund Trustee Pte Ltd. since October 1, 2014. He served as the President and Co-Head of Real Estate at ICICI Venture, Real Estate. Mr. Dasgupta joined ICICI Venture in November 2009 and was handling some of the fund house’s key transactions and the fundraising initiative. From 2005 to 2009, Mr. Dasgupta served as the Managing Director at Future Capital Real Estate, where he led investments in retail and mixed-use assets. He worked with companies such as Tata Exports, UTI Inc, Salomon Smith Barney, Merrill Lynch, Tata Teleservices (Maharashtra) Limited and Epicenter Technologies Pvt. Ltd. Mr. Dasgupta has 22 years of experience in the areas of real estate fund management, corporate finance, strategy and financial control. His experience spans domestic and international tenures. In these assignments, he has handled finance, investment banking and business development functions. He has been an Executive Director of Ascendas Property Fund Trustee Pte Ltd - Trustee-Manager of Ascendas India Trust since October 1, 2014. Mr. Dasgupta is a qualified Chartered Accountant and a Company Secretary. He holds an MBA from London Business School.

CEO Compensation
  • Insufficient data for Sanjeev to compare compensation growth.
  • Insufficient data for Sanjeev to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.
Management Team Tenure

Average tenure of the Ascendas India Trust management team in years:

1.6
Average Tenure
  • The average tenure for the Ascendas India Trust management team is less than 2 years, this suggests a new team.
Management Team

Sanjeev Prasad Dasgupta

TITLE
CEO & Executive Director
AGE
51
TENURE
4.6 yrs

Choon-Siang Tan

TITLE
Chief Financial Officer
AGE
42
TENURE
1.8 yrs

Mary De Souza

TITLE
Joint Company Secretary

Wei Hon

TITLE
Joint Company Secretary

Vinamra Srivastava

TITLE
Chief Executive Officer of ASIPL
TENURE
1.1 yrs

Bhavesh Madeka

TITLE
Head of Finance - ASIPL

Sumit Gera

TITLE
Vice President of Portfolio & Asset Management
TENURE
1.3 yrs
Board of Directors Tenure

Average tenure and age of the Ascendas India Trust board of directors in years:

3.7
Average Tenure
59
Average Age
  • The tenure for the Ascendas India Trust board of directors is about average.
Board of Directors

Chie Foo Chiang

TITLE
Chairman of the Board
COMPENSATION
SGD128K
AGE
61
TENURE
2.8 yrs

Sanjeev Prasad Dasgupta

TITLE
CEO & Executive Director
AGE
51
TENURE
4.6 yrs

Manohar Khiatani

TITLE
Deputy Chairman of the Board
COMPENSATION
SGD100K
AGE
58
TENURE
2.8 yrs

Alan Nisbet

TITLE
Independent Director
COMPENSATION
SGD101K
AGE
67
TENURE
3.7 yrs

Jonathan Yap

TITLE
Non-Executive Director of Ascendas Property Fund Trustee Pte. Ltd.
COMPENSATION
SGD74K
AGE
51
TENURE
2.8 yrs

T. V. Pai

TITLE
Independent Director
COMPENSATION
SGD90K
AGE
59
TENURE
7.4 yrs

Girija Prasad Pande

TITLE
Independent Director
COMPENSATION
SGD71K
AGE
68
TENURE
6.3 yrs

Eng Leng Ng

TITLE
Independent Director
COMPENSATION
SGD71K
AGE
52
TENURE
6.1 yrs

Zia Mody

TITLE
Independent Director
COMPENSATION
SGD10K
AGE
62
TENURE
1.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
11. May 19 Buy Massachusetts Financial Services Company Company 09. May 19 09. May 19 854,600 $0.97 $826,232
X
Management checks
We assess Ascendas India 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. Ascendas India 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

Company Info

Description

Ascendas India Trust (“a-iTrust” or the “Trust”) was listed in August 2007 as the first Indian property trust in Asia. Its principal objective is to own income-producing real estate used primarily as business space in India. a-iTrust may also develop and acquire land or uncompleted developments primarily to be used as business space, with the objective of holding the properties upon completion. The portfolio comprises seven world-class IT business parks and six modern warehouses in India, namely the International Tech Park Bangalore, International Tech Park Chennai and CyberVale in Chennai, CyberPearl, The V and aVance Business Hub in Hyderabad, BlueRidge 2 in Pune and Arshiya warehouses near Mumbai. a-iTrust is structured as a business trust, offering stable income distributions similar to a Real Estate Investment Trust. The Trust focuses on enhancing shareholder value by actively managing existing properties, developing vacant land in its portfolio, and acquiring new properties. a-iTrust is managed by Ascendas Property Fund Trustee Pte. Ltd., a subsidiary of Ascendas-Singbridge Group.

Details
Name: Ascendas India Trust
ACND.F
Exchange: OTCPK
Founded: 2004
SGD985,049,006
1,042,204,581
Website: http://www.a-itrust.com
Address: Ascendas India Trust
1 Fusionopolis Place,
No. 10-10, Galaxis,
Singapore,
138522,
Singapore
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SGX CY6U Trust Units Singapore Exchange SG SGD 01. Aug 2007
OTCPK ACND.F Trust Units Pink Sheets LLC US USD 01. Aug 2007
Number of employees
Current staff
Staff numbers
0
Ascendas India Trust employees.
Industry
Real Estate Operating Companies
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/25 00:23
End of day share price update: 2019/05/20 00:00
Last estimates confirmation: 2019/04/26
Last earnings filing: 2019/04/25
Last earnings reported: 2019/03/31
Last annual earnings reported: 2019/03/31


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.