ESR-REIT
Market Cap
US$1.0b
Last Updated
2020/06/05 04:09 UTC
Data Sources
Company Financials +
Executive Summary
ESR-REIT has been listed on the Singapore Exchange Securities Trading Limited since 25 July 2006.
Rewards
Risk Analysis
Snowflake Analysis
Average dividend payer and fair value.
Similar Companies
Share Price & News
How has ESR-REIT's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: CGIU.F has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
0%
CGIU.F
4.6%
US REITs
2.9%
US Market
1 Year Return
n/a
CGIU.F
-7.2%
US REITs
8.9%
US Market
Return vs Industry: Insufficient data to determine how CGIU.F performed against the US REITs industry.
Return vs Market: Insufficient data to determine how CGIU.F performed against the US Market.
Shareholder returns
| CGIU.F | Industry | Market | |
|---|---|---|---|
| 7 Day | 0% | 4.6% | 2.9% |
| 30 Day | 0% | 11.3% | 10.6% |
| 90 Day | n/a | -9.8% | 5.1% |
| 1 Year | n/a | -3.3%-7.2% | 11.4%8.9% |
| 3 Year | n/a | 16.7%2.3% | 34.3%25.4% |
| 5 Year | n/a | 47.8%17.6% | 60.7%42.7% |
Price Volatility Vs. Market
How volatile is ESR-REIT's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Valuation
Is ESR-REIT undervalued compared to its fair value and its price relative to the market?
34.3%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: CGIU.F ($0.26) is trading below our estimate of fair value ($0.4)
Significantly Below Fair Value: CGIU.F is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: CGIU.F is unprofitable, so we can't compare its PE Ratio to the REITs industry average.
PE vs Market: CGIU.F is unprofitable, so we can't compare its PE Ratio to the US market.
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate CGIU.F's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: CGIU.F is good value based on its PB Ratio (0.9x) compared to the US REITs industry average (1.5x).
Next Steps
Future Growth
How is ESR-REIT forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?
39.5%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: CGIU.F is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (2.2%).
Earnings vs Market: CGIU.F is forecast to become profitable over the next 3 years, which is considered above average market growth.
High Growth Earnings: CGIU.F's is expected to become profitable in the next 3 years.
Revenue vs Market: CGIU.F's revenue (2.9% per year) is forecast to grow slower than the US market (8.8% per year).
High Growth Revenue: CGIU.F's revenue (2.9% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: CGIU.F's Return on Equity is forecast to be low in 3 years time (8.3%).
Next Steps
Past Performance
How has ESR-REIT performed over the past 5 years?
-76.3%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: CGIU.F is currently unprofitable.
Growing Profit Margin: CGIU.F is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: CGIU.F is unprofitable, and losses have increased over the past 5 years at a rate of -76.3% per year.
Accelerating Growth: Unable to compare CGIU.F's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: CGIU.F is unprofitable, making it difficult to compare its past year earnings growth to the REITs industry (5.2%).
Return on Equity
High ROE: CGIU.F has a negative Return on Equity (0.6%), as it is currently unprofitable.
Next Steps
Financial Health
How is ESR-REIT's financial position?
Financial Position Analysis
Short Term Liabilities: CGIU.F's short term assets (SGD27.8M) do not cover its short term liabilities (SGD271.4M).
Long Term Liabilities: CGIU.F's short term assets (SGD27.8M) do not cover its long term liabilities (SGD1.3B).
Debt to Equity History and Analysis
Debt Level: CGIU.F's debt to equity ratio (73.1%) is considered high.
Reducing Debt: CGIU.F's debt to equity ratio has increased from 54.9% to 73.1% over the past 5 years.
Debt Coverage: CGIU.F's debt is not well covered by operating cash flow (14.7%).
Interest Coverage: CGIU.F is unprofitable, therefore interest payments are not well covered by earnings.
Balance Sheet
Next Steps
Dividend
What is ESR-REIT's current dividend yield, its reliability and sustainability?
9.78%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: CGIU.F's dividend (9.78%) is higher than the bottom 25% of dividend payers in the US market (1.62%).
High Dividend: CGIU.F's dividend (9.78%) is in the top 25% of dividend payers in the US market (4.32%)
Stability and Growth of Payments
Stable Dividend: CGIU.F's dividend payments have been volatile in the past 10 years.
Growing Dividend: CGIU.F's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (74%), CGIU.F's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: CGIU.F's dividends in 3 years are forecast to be thoroughly covered by earnings (0.03% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
2.4yrs
Average management tenure
CEO
Adrian Chui (43yo)
3.25yrs
Tenure
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 Ma ...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Executive Director of ESR Funds Management (S) Limited & ESR-REIT | 3.25yrs | no data | no data | |
| Chief Financial Officer | 1.58yrs | no data | 0.0071% SGD72.7k | |
| Head of Real Estate & COO | 1.75yrs | no data | no data | |
| Head of Capital Markets & Investor Relations | 1.83yrs | no data | no data | |
| Head of Compliance & Risk Management | 6yrs | no data | no data | |
| Head of Human Resources & Corporate Services of ESR Funds Management (S) Limited | 2.92yrs | no data | no data | |
| Head of Property Services of ESR Funds Management (S) Limited | no data | no data | no data | |
| Company Secretary of Cambridge Industrial Trust Management Limited | no data | no data | no data |
2.4yrs
Average Tenure
44yo
Average Age
Experienced Management: CGIU.F's management team is considered experienced (2.4 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Executive Director of ESR Funds Management (S) Limited & ESR-REIT | 3.25yrs | no data | no data | |
| Independent Non-Executive Director of ESR Funds Management (S) Limited | 1.42yrs | S$88.27k | 0.0029% SGD30.0k | |
| Non-Executive Director of ESR Funds Management (S) Limited | 3.42yrs | no data | no data | |
| Non-Executive Director of ESR Funds Management (S) Limited | 1.42yrs | S$202.50k | 0.10% SGD1.1m | |
| Non-Executive Director of ESR Funds Management (S) Limited | 3.17yrs | S$47.83k | no data | |
| Independent Chairman of ESR Funds Management (S) Limited | 3.42yrs | S$166.28k | no data | |
| Non-Executive Director of ESR Funds Management (S) Limited | 1.42yrs | no data | 22.99% SGD236.8m | |
| Independent Non-Executive Director of ESR Funds Management (S) Limited | 1.42yrs | S$100.04k | 0.0042% SGD43.6k | |
| Independent Non-Executive Director of ESR Funds Management (S) Limited | 3.75yrs | S$100.00k | no data | |
| Independent Non-Executive Director of ESR Funds Management (S) Limited | 1.25yrs | S$68.55k | 0.0042% SGD43.6k |
2.3yrs
Average Tenure
58yo
Average Age
Experienced Board: CGIU.F's board of directors are not considered experienced ( 2.3 years average tenure), which suggests a new board.
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: CGIU.F insiders have only sold shares 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 10.5%.
Top Shareholders
Company Information
ESR-REIT's company bio, employee growth, exchange listings and data sources
Key Information
- Name: ESR-REIT
- Ticker: CGIU.F
- Exchange: OTCPK
- Founded: 2006
- Industry: Industrial REITs
- Sector: Real Estate
- Market Cap: S$1.441b
- Listing Market Cap: S$1.030b
- Shares outstanding: 3.51b
- Website: https://www.esr-reit.com.sg
Location
- ESR-REIT
- 138 Market Street
- No 26-03/04 CapitaGreen
- Singapore
- 48946
- Singapore
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| J91U | SGX (Singapore Exchange) | Yes | UNITS | SG | SGD | Jul 2006 |
| CGIU.F | OTCPK (Pink Sheets LLC) | Yes | UNITS | US | USD | Jul 2006 |
Biography
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 December 2019 holds interest in a diversified portfolio of 57 properties located across Singapore, with a total gross floor area of approximately 15.1 million square feet and an aggregate property value of S$3.2 billion9. The properties are in the following business sectors: Business Park, High-Specs Industrial, Logistics/Warehouse and General Industrial, and are located close to major transportation hubs and key industrial zones island-wide.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/06/05 04:09 |
| End of Day Share Price | 2020/04/27 00:00 |
| Earnings | 2019/12/31 |
| Annual Earnings | 2019/12/31 |
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.