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ESR-REIT

OTCPK:CGIU.F
Snowflake Description

Average dividend payer with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CGIU.F
OTCPK
SGD2B
Market Cap
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Last updated 2019/05/20 02:29
Company description

ESR-REIT has been listed on the Singapore Exchange Securities Trading Limited since 25 July 2006. The last earnings update was 27 days ago. More info.

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CGIU.F Share Price and Events
7 Day Returns
0%
OTCPK:CGIU.F
1.8%
US REITs
-0.7%
US Market
1 Year Returns
-
OTCPK:CGIU.F
16.3%
US REITs
3%
US Market
CGIU.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
ESR-REIT (CGIU.F) 0% -5.3% - - - -
US REITs 1.8% 2.4% 3.1% 16.3% 13.8% 26.4%
US Market -0.7% -2% 2.4% 3% 39.2% 42%
1 Year Return vs Industry and Market
  • No trading data on CGIU.F.
  • No trading data on CGIU.F.
Price Volatility
CGIU.F
Industry
5yr Volatility vs Market

CGIU.F Value

 Is ESR-REIT 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 ESR-REIT 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 ESR-REIT.

OTCPK:CGIU.F Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Funds From Operations
Levered Funds From Operations Average of 6 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.4%
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:CGIU.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.53
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.531 (1 + (1- 17%) (89.74%)) 		0.951
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)		 0.95
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.951 * 5.96%) 		8.4%

Discounted Cash Flow Calculation for OTCPK:CGIU.F using 2 Stage Free Cash Flow to Equity using Funds From Operations Model

The calculations below outline how an intrinsic value for ESR-REIT 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.

ESR-REIT 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.

OTCPK:CGIU.F DCF 1st Stage: Next 10 year cash flow forecast
Funds From Operations (FFO) (SGD, Millions) Source Present Value
Discounted (@ 8.4%)
2019 121.00 Analyst x1 111.63
2020 125.00 Analyst x1 106.38
2021 128.00 Analyst x1 100.50
2022 131.56 Est @ 2.78% 95.30
2023 135.20 Est @ 2.77% 90.35
2024 138.93 Est @ 2.76% 85.65
2025 142.75 Est @ 2.75% 81.18
2026 146.66 Est @ 2.74% 76.95
2027 150.68 Est @ 2.74% 72.93
2028 154.80 Est @ 2.74% 69.12
Present value of next 10 years cash flows SGD889.98
OTCPK:CGIU.F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= SGD154.80 × (1 + 2.73%) ÷ (8.4% – 2.73%) 		SGD2,806.49
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= SGD2,806.49 ÷ (1 + 8.4%)10 		SGD1,253.18
OTCPK:CGIU.F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= SGD889.98 + SGD1,253.18 		SGD2,143.16
Equity Value per Share
(SGD)		 = Total value / Shares Outstanding
= SGD2,143.16 / 3,176.24 		SGD0.63
OTCPK:CGIU.F Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:CGIU.F represents 0.67925x of SGX:J91U
(This could be a different class, a depositary receipt, a different currency, or all of these things.) 		0.67925x
Value per Share
(Listing Adjusted, USD)		 = Value per Share (SGD) x Listing Adjustment Factor
= SGD 0.63 x 0.67925 		$0.43
Value per share (USD) From above. $0.43
Current discount Discount to share price of $0.36
= -1 x ($0.36 - $0.43) / $0.43 		16%

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

Current Discount
Amount off the current price ESR-REIT is available for.
Intrinsic value
16%
Share price is $0.36 vs Future cash flow value of $0.42872
Current Discount Checks
For ESR-REIT to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • ESR-REIT's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • ESR-REIT's share price is below the future cash flow value, but not 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 ESR-REIT's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are ESR-REIT's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:CGIU.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in SGD SGD-0.10
SGX:J91U Share Price ** SGX (2019-05-07) in SGD SGD0.53
United States of America REITs Industry PE Ratio Median Figure of 156 Publicly-Listed REITs Companies 32.79x
United States of America Market PE Ratio Median Figure of 3,088 Publicly-Listed Companies 17.89x

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

** Primary Listing of ESR-REIT.

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

= SGX:J91U Share Price ÷ EPS (both in SGD)

= 0.53 ÷ -0.10

 -5.49x

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

  • ESR-REIT is loss making, we can't compare its value to the US REITs industry average.
  • ESR-REIT is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does ESR-REIT's expected growth come at a high price?
Raw Data
OTCPK:CGIU.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -5.49x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts		 35.9%per year
United States of America REITs Industry PEG Ratio Median Figure of 141 Publicly-Listed REITs Companies 2.4x
United States of America Market PEG Ratio Median Figure of 2,117 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for ESR-REIT, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on ESR-REIT's assets?
Raw Data
OTCPK:CGIU.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in SGD SGD0.52
SGX:J91U Share Price * SGX (2019-05-07) in SGD SGD0.53
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.86x
United States of America Market PB Ratio Median Figure of 5,195 Publicly-Listed Companies 1.83x
OTCPK:CGIU.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SGX:J91U Share Price ÷ Book Value per Share (both in SGD)

= 0.53 ÷ 0.52

 1.03x

* Primary Listing of ESR-REIT.

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

  • ESR-REIT is good value based on assets compared to the US REITs industry average.
X
Value checks
We assess ESR-REIT'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. ESR-REIT 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.

CGIU.F Future Performance

 How is ESR-REIT expected to perform in the next 1 to 3 years based on estimates from 6 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
35.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is ESR-REIT expected to grow at an attractive rate?
  • ESR-REIT's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • ESR-REIT's earnings growth is expected to exceed the United States of America market average.
  • ESR-REIT's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:CGIU.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:CGIU.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 35.9%
OTCPK:CGIU.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 5.3%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 5.7%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.9%
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:CGIU.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 6 Analyst Estimates (S&P Global) See Below
All numbers in SGD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:CGIU.F Future Estimates Data
Date (Data in SGD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31
2022-12-31 269 132 1
2021-12-31 272 188 144 5
2020-12-31 266 172 134 6
2019-12-31 257 169 115 4
OTCPK:CGIU.F Past Financials Data
Date (Data in SGD Millions) Revenue Cash Flow Net Income *
2019-03-31 188 93 -223
2018-12-31 157 68 -239
2018-09-30 126 73 -1
2018-06-30 120 69 0
2018-03-31 116 70 -1
2017-12-31 110 69 -1
2017-09-30 110 70 4
2017-06-30 111 72 5
2017-03-31 111 71 6
2016-12-31 112 70 7
2016-09-30 113 73 52
2016-06-30 114 75 53

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • ESR-REIT's earnings are expected to grow significantly at over 20% yearly.
  • ESR-REIT's revenue is expected to grow by 5.3% 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:CGIU.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 6 Analyst Estimates (S&P Global) See Below

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

OTCPK:CGIU.F Future Estimates Data
Date (Data in SGD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31 0.04 0.04 0.04 1.00
2021-12-31 0.05 0.06 0.04 4.00
2020-12-31 0.04 0.04 0.04 4.00
2019-12-31 0.04 0.05 0.04 2.00
OTCPK:CGIU.F Past Financials Data
Date (Data in SGD Millions) EPS *
2019-03-31 -0.10
2018-12-31 -0.13
2018-09-30 0.00
2018-06-30 0.00
2018-03-31 0.00
2017-12-31 0.00
2017-09-30 0.00
2017-06-30 0.00
2017-03-31 0.00
2016-12-31 0.01
2016-09-30 0.04
2016-06-30 0.04

*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.
  • ESR-REIT is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
Show me more growth companies in the REITs industry
X
Future performance checks
We assess ESR-REIT'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.
ESR-REIT has a total score of 3/6, 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.

CGIU.F Past Performance

  How has ESR-REIT 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 ESR-REIT'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.
  • ESR-REIT does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare ESR-REIT's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare ESR-REIT's 1-year growth to the US REITs industry average as it is not currently profitable.
Earnings and Revenue History
ESR-REIT'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 ESR-REIT Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:CGIU.F Past Revenue, Cash Flow and Net Income Data
Date (Data in SGD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 188.13 -222.98 1.92
2018-12-31 156.92 -239.46 1.89
2018-09-30 125.69 -0.52 2.16
2018-06-30 120.44 -0.37 2.48
2018-03-31 115.57 -0.63 2.43
2017-12-31 109.70 -0.50 2.18
2017-09-30 110.31 4.29 1.87
2017-06-30 110.84 5.05 1.75
2017-03-31 111.46 5.94 1.79
2016-12-31 112.09 7.09 1.87
2016-09-30 112.79 51.72 1.80
2016-06-30 113.62 53.49 1.83
2016-03-31 113.14 51.64 1.97
2015-12-31 112.37 52.52 2.33
2015-09-30 110.06 52.82 2.26
2015-06-30 106.84 52.18 2.17
2015-03-31 103.72 45.72 3.55
2014-12-31 99.84 45.32 3.12
2014-09-30 110.32 47.51 3.52
2014-06-30 109.20 80.30 3.73
2014-03-31 95.98 108.12 16.19
2013-12-31 110.44 118.88 16.36
2013-09-30 97.80 160.43 19.49
2013-06-30 96.19 128.77 19.38
2013-03-31 106.25 103.02 5.54
2012-12-31 88.98 89.46 5.29
2012-09-30 85.74 49.73 2.00
2012-06-30 83.98 43.10 1.89

*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.
  • It is difficult to establish if ESR-REIT has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if ESR-REIT has efficiently used its assets last year compared to the US REITs industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if ESR-REIT improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess ESR-REIT'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.
ESR-REIT has a total score of 0/6, 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.

CGIU.F Health

 How is ESR-REIT'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 ESR-REIT's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • ESR-REIT's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • ESR-REIT's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of ESR-REIT'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 ESR-REIT Company Filings, last reported 1 month ago.

OTCPK:CGIU.F Past Debt and Equity Data
Date (Data in SGD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 1,636.66 1,510.70 12.04
2018-12-31 1,630.78 1,284.49 17.66
2018-09-30 1,071.42 509.92 9.94
2018-06-30 1,073.53 512.46 12.73
2018-03-31 1,076.91 500.02 9.85
2017-12-31 930.00 669.79 11.65
2017-09-30 827.05 492.81 2.75
2017-06-30 825.23 517.07 3.70
2017-03-31 826.68 514.83 4.49
2016-12-31 827.03 509.59 3.70
2016-09-30 872.06 522.85 10.72
2016-06-30 873.21 534.31 5.01
2016-03-31 875.17 529.60 4.86
2015-12-31 872.91 525.25 3.26
2015-09-30 872.40 530.11 8.57
2015-06-30 871.49 529.78 8.51
2015-03-31 870.55 510.58 9.42
2014-12-31 866.33 475.45 6.28
2014-09-30 864.14 453.59 15.71
2014-06-30 860.10 414.85 24.48
2014-03-31 865.41 377.83 9.01
2013-12-31 861.55 356.06 73.54
2013-09-30 857.40 428.39 151.52
2013-06-30 824.39 474.95 33.21
2013-03-31 802.19 444.60 16.91
2012-12-31 786.69 497.12 89.76
2012-09-30 739.78 427.37 42.68
2012-06-30 733.54 412.06 29.78
  • ESR-REIT's level of debt (92.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (43.7% vs 92.3% today).
  • Debt is not well covered by operating cash flow (6.1%, less than 20% of total debt).
  • ESR-REIT is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess ESR-REIT'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. ESR-REIT has a total score of 0/6, 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.

CGIU.F Dividends

 What is ESR-REIT'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
7.28%
Current annual income from ESR-REIT dividends. Estimated to be 7.81% next year.
If you bought $2,000 of ESR-REIT shares you are expected to receive $146 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?
  • ESR-REIT's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
  • ESR-REIT's dividend is above the markets top 25% of dividend payers in United States of America (3.69%).
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:CGIU.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 6 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 184 Stocks 3.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2000 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 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

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

OTCPK:CGIU.F Future Dividends Estimate Data
Date (Data in SGD) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 0.04 1.00
2022-12-31 0.04 2.00
2021-12-31 0.04 5.00
2020-12-31 0.04 6.00
2019-12-31 0.04 5.00
OTCPK:CGIU.F Past Annualized Dividends Data
Date (Data in SGD) Dividend per share (annual) Avg. Yield (%)
2019-01-17 0.039 7.289
2018-01-16 0.039 7.402
2017-01-25 0.042 7.310
2016-10-26 0.039 7.278
2016-07-22 0.043 7.914
2016-04-27 0.044 8.183
2016-01-13 0.046 8.562
2015-10-21 0.048 8.178
2015-07-22 0.049 7.877
2015-04-21 0.049 7.005
2015-01-15 0.050 7.205
2014-10-23 0.050 7.291
2014-07-23 0.050 7.010
2014-04-15 0.050 6.616
2014-01-29 0.050 7.047
2013-10-31 0.050 7.239
2013-07-24 0.050 7.370
2013-04-18 0.049 6.420
2013-01-17 0.049 6.514
2012-11-01 0.048 7.294
2012-07-30 0.047 7.506
2012-04-18 0.047 8.497
2012-03-29 0.042 7.852
2012-01-31 0.042 8.162
2011-02-28 0.049 10.085
2011-02-10 0.049 9.501
2010-03-31 0.054 10.380
2010-01-27 0.054 11.840
2009-07-23 0.054 12.421

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 ESR-REIT's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (3030.3x coverage).
Show me more dividend paying companies in the REITs industry
X
Income/ dividend checks
We assess ESR-REIT'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 ESR-REIT afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
    7. ESR-REIT has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

CGIU.F Management

 What is the CEO of ESR-REIT'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
Adrian Chui
COMPENSATION SGD0
AGE 42
TENURE AS CEO 2.2 years
CEO Bio

Mr. Wai Yin Chui, also known as Adrian, serves as CEO & Executive Director of ESR FUNDS MANAGEMENT (S) LIMITED at ESR Cayman Ltd. He has been Chief Executive Officer and Executive Director of ESR Funds Management (S) Limited, a Manager of ESR-REIT since joining in March 24, 2017. Mr. Chui key responsibilities include setting the strategic objectives for CIT alongside the Board as well as driving the overall business plan execution with the support of the management team. He was ran the South East Asia real estate advisory division of Standard Chartered Bank (“SCB”). His overall responsibilities at SCB included structuring, fundamental analysis and approval of acquisition financing for real estate companies / REITs / Business Trusts, valuation and execution advice for mergers & acquisitions, as well as structuring, execution and investment case positioning & strategies of REIT Initial Public Offerings (“IPOs”) and follow-on offerings of equity, equity- linked and debt securities across all real estate segments. Over 17 years of experience in real estate developers, REITs, banking and capital markets in Singapore and ASEAN. He held management roles with CapitaCommercial Trust Management Limited and was part of the pioneer management team of Ascendas Funds Management (S) Limited . Before SCB, Mr. Chui was the Director of Real Estate, Lodging and Leisure Group at UBS Investment Bank’s Singapore office, where he headed a team involved in structuring and listing of Singapore and cross-border REITs / Business Trusts and property company IPOs for Southeast Asia. His past work experience also includes a stint at Morgan Stanley Asia (Singapore) Securities Pte Ltd, where he was the property research analyst responsible for Singapore listed REITs and property companies, including CapitaLand Limited and Ascendas Real Estate Investment Trust. He holds a Bachelor of Business from Nanyang Technological University in Singapore.

CEO Compensation
  • Insufficient data for Adrian to compare compensation growth.
  • Adrian's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the ESR-REIT management team in years:

0.8
Average Tenure
43
Average Age
  • The average tenure for the ESR-REIT management team is less than 2 years, this suggests a new team.
Management Team

Adrian Chui

TITLE
CEO & Executive Director of ESR Funds Management (S) Limited
AGE
42
TENURE
2.2 yrs

Lawrence Chan

TITLE
Chief Financial Officer
AGE
43
TENURE
0.5 yrs

Nancy Tan

TITLE
Head of Real Estate & COO
AGE
54
TENURE
0.7 yrs

Charlene-Jayne Chang

TITLE
Head of Capital Markets & Investor Relations
TENURE
0.8 yrs

York Ying Loy

TITLE
Head of Compliance & Risk Management
TENURE
4.9 yrs

Irene Phua

TITLE
Head of Human Resources & Corporate Services of ESR Funds Management (S) Limited

Steven Leow

TITLE
Head of Property Services - of ESR Funds Management (S) Limited

Robin Yoo

TITLE
Company Secretary of Cambridge Industrial Trust Management Limited

Angeline Chiang

TITLE
Company Secretary of Cambridge Industrial Trust Management Limited
Board of Directors Tenure

Average tenure and age of the ESR-REIT board of directors in years:

1.2
Average Tenure
53
Average Age
  • The average tenure for the ESR-REIT board of directors is less than 3 years, this suggests a new board.
Board of Directors

Eng-Peng Ooi

TITLE
Independent Chairman of ESR Funds Management (S) Limited
COMPENSATION
SGD144K
AGE
61
TENURE
2.3 yrs

Adrian Chui

TITLE
CEO & Executive Director of ESR Funds Management (S) Limited
AGE
42
TENURE
2.2 yrs

Bruce Kendle Berry

TITLE
Independent Non-Executive Director of ESR Funds Management (S) Limited
COMPENSATION
SGD103K
AGE
64
TENURE
2.7 yrs

Wilson Ang

TITLE
Non-Executive Director of ESR Funds Management (S) Limited
AGE
53
TENURE
0.3 yrs

Jeffrey David Perlman

TITLE
Non-Executive Director of ESR Funds Management (S) Limited
AGE
34
TENURE
2.3 yrs

Phil Pearce

TITLE
Non-Executive Director of ESR Funds Management (S) Limited
COMPENSATION
SGD48K
AGE
50
TENURE
2.1 yrs

Horn Kee Leong

TITLE
Independent Non-Executive Director of ESR Funds Management (S) Limited
AGE
66
TENURE
0.3 yrs

Ronald Lim

TITLE
Independent Non-Executive Director of ESR Funds Management (S) Limited
AGE
71
TENURE
0.3 yrs

Tong Jinquan

TITLE
Non-Executive Director of ESR Funds Management (S) Limited
TENURE
0.3 yrs

Stefanie Yuen Thio

TITLE
Independent Non-Executive Director of ESR Funds Management (S) Limited
AGE
48
TENURE
0.2 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 ($) Value ($)
X
Management checks
We assess ESR-REIT'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. ESR-REIT 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.

CGIU.F News

Simply Wall St News

CGIU.F Company Info

Description

ESR-REIT has been listed on the Singapore Exchange Securities Trading Limited since 25 July 2006. ESR-REIT invests in quality income-producing industrial properties and as at 31 March 2019 has a diversified portfolio of 57 properties located across Singapore, with a total gross floor area of approximately 14.1 million square feet and an aggregate property value of S$3.03 billion. The properties are in the following business sectors: Business Park, Hi-Specs Industrial, Logistics/Warehouse and General Industrial, and are located close to major transportation hubs and key industrial zones island-wide.

Details
Name: ESR-REIT
CGIU.F
Exchange: OTCPK
Founded: 2006
SGD1,222,403,537
3,176,242,610
Website: http://www.esr-reit.com.sg
Address: ESR-REIT
138 Market Street,
No 26-03/04 CapitaGreen,
Singapore,
048946,
Singapore
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SGX J91U UNITS Singapore Exchange SG SGD 25. Jul 2006
OTCPK CGIU.F UNITS Pink Sheets LLC US USD 25. Jul 2006
Number of employees
Current staff
Staff numbers
0
ESR-REIT employees.
Industry
Industrial REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/20 02:29
End of day share price update: 2019/05/07 00:00
Last estimates confirmation: 2019/04/25
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.

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