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Prosperity Real Estate Investment Trust

OTCPK:PREU.F
Snowflake Description

Established dividend payer with adequate balance sheet.

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

Prosperity REIT [SEHK: 808] is a Hong Kong collective investment scheme authorized under section 104 of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong). The last earnings update was 27 days ago. More info.


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PREU.F Share Price and Events
7 Day Returns
0%
OTCPK:PREU.F
0.1%
US REITs
-0.7%
US Market
1 Year Returns
-
OTCPK:PREU.F
12.6%
US REITs
7.8%
US Market
PREU.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Prosperity Real Estate Investment Trust (PREU.F) 0% 0% - - - -
US REITs 0.1% -0.7% 4.5% 12.6% 7.8% 24.2%
US Market -0.7% 1.4% 7.3% 7.8% 41% 46.8%
1 Year Return vs Industry and Market
  • No trading data on PREU.F.
  • No trading data on PREU.F.
Price Volatility
PREU.F
Industry
5yr Volatility vs Market

PREU.F Value

 Is Prosperity Real Estate Investment 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 Prosperity Real Estate Investment 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 Prosperity Real Estate Investment Trust.

OTCPK:PREU.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 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.2%
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:PREU.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6.7%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.55
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.546 (1 + (1- 25%) (46.05%))
0.823
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.82
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.823 * 6.65%)
8.2%

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

The calculations below outline how an intrinsic value for Prosperity Real Estate Investment 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:PREU.F DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 8.2%)
2019 318.79 Est @ 0.64% 294.63
2020 322.82 Est @ 1.26% 275.74
2021 328.32 Est @ 1.7% 259.19
2022 334.93 Est @ 2.01% 244.37
2023 342.39 Est @ 2.23% 230.88
2024 350.53 Est @ 2.38% 218.46
2025 359.24 Est @ 2.48% 206.92
2026 368.42 Est @ 2.56% 196.13
2027 378.04 Est @ 2.61% 185.99
2028 388.04 Est @ 2.65% 176.45
Present value of next 10 years cash flows HK$2,288.75
OTCPK:PREU.F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= HK$388.04 × (1 + 2.73%) ÷ (8.2% – 2.73%)
HK$7,287.88
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$7,287.88 ÷ (1 + 8.2%)10
HK$3,313.88
OTCPK:PREU.F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$2,288.75 + HK$3,313.88
HK$5,602.63
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$5,602.63 / 1,494.14
HK$0.44
OTCPK:PREU.F Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:PREU.F represents 0.11607x of SEHK:808
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.11607x
Value per Share
(Listing Adjusted, USD)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 0.44 x 0.11607
$0.05
Value per share (USD) From above. $0.05
Current discount Discount to share price of $0.39
= -1 x ($0.39 - $0.05) / $0.05
-672%

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

  • The current share price of Prosperity Real Estate Investment Trust is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Prosperity Real Estate Investment Trust's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Prosperity Real Estate Investment Trust's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:PREU.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in HKD HK$0.46
SEHK:808 Share Price ** SEHK (2019-02-06) in HKD HK$3.36
United States of America REITs Industry PE Ratio Median Figure of 152 Publicly-Listed REITs Companies 31.96x
United States of America Market PE Ratio Median Figure of 3,080 Publicly-Listed Companies 18.12x

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

** Primary Listing of Prosperity Real Estate Investment Trust.

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

= SEHK:808 Share Price ÷ EPS (both in HKD)

= 3.36 ÷ 0.46

7.24x

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

  • Prosperity Real Estate Investment Trust is good value based on earnings compared to the US REITs industry average.
  • Prosperity Real Estate Investment Trust is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Prosperity Real Estate Investment Trust's expected growth come at a high price?
Raw Data
OTCPK:PREU.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.24x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
-62.2%per year
United States of America REITs Industry PEG Ratio Median Figure of 138 Publicly-Listed REITs Companies 1.19x
United States of America Market PEG Ratio Median Figure of 2,111 Publicly-Listed Companies 1.59x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 7.24x ÷ -62.2%

-0.12x

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

  • Prosperity Real Estate Investment 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 Prosperity Real Estate Investment Trust's assets?
Raw Data
OTCPK:PREU.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in HKD HK$5.74
SEHK:808 Share Price * SEHK (2019-02-06) in HKD HK$3.36
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.78x
United States of America Market PB Ratio Median Figure of 5,191 Publicly-Listed Companies 1.9x
OTCPK:PREU.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:808 Share Price ÷ Book Value per Share (both in HKD)

= 3.36 ÷ 5.74

0.59x

* Primary Listing of Prosperity Real Estate Investment Trust.

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

  • Prosperity Real Estate Investment Trust is good value based on assets compared to the US REITs industry average.
X
Value checks
We assess Prosperity Real Estate Investment 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 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. Prosperity Real Estate Investment Trust has a total score of 3/6, 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.

PREU.F Future Performance

 How is Prosperity Real Estate Investment Trust expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

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
-62.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Prosperity Real Estate Investment Trust expected to grow at an attractive rate?
  • Prosperity Real Estate Investment 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
  • Prosperity Real Estate Investment Trust's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • Prosperity Real Estate Investment Trust's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:PREU.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:PREU.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts -62.2%
OTCPK:PREU.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 4.5%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 5.2%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 15%
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:PREU.F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:PREU.F Future Estimates Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 489 346 222 1
2019-12-31 471 332 212 1
OTCPK:PREU.F Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-12-31 447 317 688
2018-09-30 446 317 674
2018-06-30 445 316 660
2018-03-31 446 319 704
2017-12-31 446 322 748
2017-09-30 449 319 738
2017-06-30 453 316 728
2017-03-31 453 317 647
2016-12-31 453 318 565
2016-09-30 449 318 579
2016-06-30 446 319 593
2016-03-31 442 316 643

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Prosperity Real Estate Investment Trust's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Prosperity Real Estate Investment Trust's revenue is expected to grow by 4.5% 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:PREU.F Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Prosperity Real Estate Investment Trust Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:PREU.F Future Estimates Data
Date (Data in HKD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31
2019-12-31
OTCPK:PREU.F Past Financials Data
Date (Data in HKD Millions) EPS *
2018-12-31 0.46
2018-09-30 0.46
2018-06-30 0.45
2018-03-31 0.48
2017-12-31 0.51
2017-09-30 0.51
2017-06-30 0.50
2017-03-31 0.44
2016-12-31 0.39
2016-09-30 0.40
2016-06-30 0.41
2016-03-31 0.45

*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.
  • Prosperity Real Estate Investment Trust is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Prosperity Real Estate Investment 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.
Prosperity Real Estate Investment Trust has a total score of 0/6, 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.

PREU.F Past Performance

  How has Prosperity Real Estate Investment 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 Prosperity Real Estate Investment Trust'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.
  • Prosperity Real Estate Investment Trust's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Prosperity Real Estate Investment Trust's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Prosperity Real Estate Investment Trust's 1-year earnings growth is negative, it can't be compared to the US REITs industry average.
Earnings and Revenue History
Prosperity Real Estate Investment 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 Prosperity Real Estate Investment Trust Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:PREU.F Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 446.81 687.58 20.97
2018-09-30 445.83 673.91 20.81
2018-06-30 444.84 660.24 20.66
2018-03-31 445.54 704.33 20.63
2017-12-31 446.24 748.43 20.60
2017-09-30 449.38 738.34 23.20
2017-06-30 452.51 728.25 25.79
2017-03-31 452.72 646.75 25.96
2016-12-31 452.93 565.24 26.13
2016-09-30 449.39 578.96 23.09
2016-06-30 445.85 592.67 20.06
2016-03-31 442.28 642.63 19.83
2015-12-31 438.72 692.59 19.60
2015-09-30 430.07 737.97 19.39
2015-06-30 421.42 783.36 19.17
2015-03-31 412.42 624.92 18.80
2014-12-31 403.41 466.49 18.42
2014-09-30 388.00 372.01 19.02
2014-06-30 372.58 277.53 19.62
2014-03-31 357.23 486.63 18.83
2013-12-31 341.88 695.73 18.04
2013-09-30 334.02 971.27 17.04
2013-06-30 326.15 1,246.81 16.04
2013-03-31 317.26 1,160.76 16.55
2012-12-31 308.37 1,074.72 17.06
2012-09-30 299.29 923.33 16.65
2012-06-30 290.21 771.94 16.24

*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.
  • Prosperity Real Estate Investment Trust has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Prosperity Real Estate Investment Trust used its assets more efficiently than the US REITs industry average last year based on Return on Assets.
  • Prosperity Real Estate Investment Trust's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Prosperity Real Estate Investment 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 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.
Prosperity Real Estate Investment Trust has a total score of 2/6, 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.

PREU.F Health

 How is Prosperity Real Estate Investment 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 Prosperity Real Estate Investment Trust's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Prosperity Real Estate Investment Trust is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Prosperity Real Estate Investment Trust's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Prosperity Real Estate Investment 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.
  • High level of physical assets or inventory.
  • 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 Prosperity Real Estate Investment Trust Company Filings, last reported 4 months ago.

OTCPK:PREU.F Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 8,524.41 2,311.94 359.94
2018-09-30 8,524.41 2,311.94 359.94
2018-06-30 8,365.11 2,307.91 384.39
2018-03-31 8,365.11 2,307.91 384.39
2017-12-31 8,053.74 2,305.48 364.98
2017-09-30 8,053.74 2,305.48 364.98
2017-06-30 7,917.44 2,844.81 891.23
2017-03-31 7,917.44 2,844.81 891.23
2016-12-31 7,515.72 2,853.36 72.44
2016-09-30 7,515.72 2,853.36 72.44
2016-06-30 7,398.29 2,836.04 79.18
2016-03-31 7,398.29 2,836.04 79.18
2015-12-31 7,155.74 2,821.43 64.91
2015-09-30 7,155.74 2,821.43 64.91
2015-06-30 7,014.11 2,814.59 82.93
2015-03-31 7,014.11 2,814.59 82.93
2014-12-31 6,668.69 2,807.74 65.18
2014-09-30 6,668.69 2,807.74 65.18
2014-06-30 6,412.61 2,786.59 57.20
2014-03-31 6,412.61 2,786.59 57.20
2013-12-31 6,361.40 1,795.57 58.10
2013-09-30 6,361.40 1,795.57 58.10
2013-06-30 6,295.53 1,778.53 56.99
2013-03-31 6,295.53 1,778.53 56.99
2012-12-31 5,819.18 1,795.48 44.31
2012-09-30 5,819.18 1,795.48 44.31
2012-06-30 5,197.05 1,781.79 37.83
  • Prosperity Real Estate Investment Trust's level of debt (27.1%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (28.4% vs 27.1% today).
  • Debt is not well covered by operating cash flow (13.7%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 5.7x coverage).
X
Financial health checks
We assess Prosperity Real Estate Investment 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. Prosperity Real Estate Investment Trust has a total score of 4/6, 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.

PREU.F Dividends

 What is Prosperity Real Estate Investment 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
5.39%
Current annual income from Prosperity Real Estate Investment Trust dividends. Estimated to be 5.51% next year.
If you bought $2,000 of Prosperity Real Estate Investment Trust shares you are expected to receive $108 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?
  • Prosperity Real Estate Investment Trust's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.41%).
  • Prosperity Real Estate Investment Trust's dividend is above the markets top 25% of dividend payers in United States of America (3.63%).
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:PREU.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 1 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 1998 Stocks 2.4%
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 3.6%

Industry and Market average data is calculated daily.

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

OTCPK:PREU.F Future Dividends Estimate Data
Date (Data in HK$) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.19 1.00
2019-12-31 0.18 1.00
OTCPK:PREU.F Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2019-04-09 0.181 5.353
2019-03-22 0.181 5.160
2018-04-03 0.178 5.723
2018-03-15 0.178 5.332
2017-03-30 0.178 5.341
2017-03-10 0.178 5.664
2016-08-30 0.181 5.605
2016-08-11 0.181 5.192
2016-04-05 0.179 5.721
2016-03-03 0.179 6.194
2015-08-28 0.174 6.301
2015-08-13 0.174 6.274
2015-04-01 0.163 5.728
2015-03-05 0.163 5.533
2014-08-29 0.163 6.114
2014-08-14 0.163 6.114
2014-04-01 0.150 6.190
2014-03-04 0.150 6.616
2013-08-30 0.149 6.473
2013-08-22 0.149 6.155
2013-02-28 0.139 5.372
2012-08-28 0.132 5.658
2012-08-16 0.132 6.255
2012-04-10 0.120 6.773
2012-03-20 0.120 6.677
2011-02-25 0.110 6.477
2010-08-20 0.110 6.288
2010-03-19 0.109 7.630
2009-08-21 0.113 8.559

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Prosperity Real Estate Investment Trust's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.2x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Prosperity Real Estate Investment 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 Prosperity Real Estate Investment Trust afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Prosperity Real Estate Investment Trust has a total score of 5/6, see the detailed checks below.


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

PREU.F Management

 What is the CEO of Prosperity Real Estate Investment 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
Mavis Wong
AGE 45
TENURE AS CEO 8.1 years
CEO Bio

Ms. Lai Hung Wong, also known as Mavis, has been the Chief Executive Officer of ARA Asset Management (Prosperity) Limited, Manager of Prosperity REIT since January 1, 2013. Ms. Wong served as an Acting Chief Executive Officer of ARA Asset Management (Prosperity) Limited, Manager of Prosperity REIT from April 8, 2011 to January 1, 2013 and served as its Director of Investment & Asset Management. She is responsible for formulating the business plans of Prosperity REIT’s properties with short, medium and long-term objectives and with a view of maximizing the rental income of Prosperity REIT via active asset management. She is also responsible for identifying and evaluating potential acquisitions or investments consistent with Prosperity REIT’s investment strategy. Ms. Wong has more than 15 years of experience in the industry. She served as the Deputy Manager of Leasing for New World Development Company Limited. She was responsible for the marketing of office and industrial buildings and overseeing the Landlord profit and loss account. Prior to that, she served in the Leasing Department of Cheung Kong from 1997 to 2004 and the Assistant Leasing Manager from 2003 to 2004. Her duties with Cheung Kong included marketing of commercial projects. Among the projects handled by Ms. Wong were the marketing of three buildings of The Properties: Modern Warehouse, Prosperity Center and Trendy Centre. She began her career with Yaohan Department Store (HK) Limited as an Assistant Executive Officer in the Development where she was involved in handling the lease negotiation for new stores and tenancy renewals for existing stores. From 1995 to 1997, Ms. Wong served as an Administrative Officer of Goodwill Management Limited (a wholly-owned subsidiary of Henderson Land Development Co. Ltd). She also worked in Jardine Matheson & Co Limited as an Assistant Property Manager before moving on to work with Cheung Kong. She has been Executive Director at Ara Asset Management (Prosperity) Limited, Manager of Prosperity REIT since April 8, 2011. Ms. Wong holds a Bachelor of Arts Degree from the Chinese University of Hong Kong, a Postgraduate Certification in HK Law from City University of Hong Kong and a Diploma in Property Development from SPACE, University of Hong Kong.

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

Mavis Wong

TITLE
CEO & Executive Director of ARA Asset Management (Prosperity) Limited
AGE
45
TENURE
8.1 yrs

Samuel Cheung

TITLE
Assistant Director of Finance - ARA Asset Management (Prosperity) Limited

Vicho Chung

TITLE
Manager of Investment & Investor Relations - ARA Asset Management (Prosperity) Limited

Irene Au

TITLE
Director of Legal & Compliance - ARA Asset Management (Prosperity) Limited

Kevin Ng

TITLE
Assistant Director of Asset Management - ARA Asset Management (Prosperity) Limited

Natalia Seng

TITLE
Company Secretary of ARA Asset Management (Prosperity) Limited
AGE
61
Board of Directors Tenure

Average tenure and age of the Prosperity Real Estate Investment Trust board of directors in years:

11.2
Average Tenure
67
Average Age
  • The average tenure for the Prosperity Real Estate Investment Trust board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Justin Chiu

TITLE
Chairman of ARA Asset Management (Prosperity) Limited
AGE
67

Mavis Wong

TITLE
CEO & Executive Director of ARA Asset Management (Prosperity) Limited
AGE
45
TENURE
8.1 yrs

David Lan

TITLE
Independent Non-Executive Director of ARA Asset Management (Prosperity) Limited
AGE
78
TENURE
14.3 yrs

Sow-Mei Sng

TITLE
Independent Non-Executive Director of ARA Asset Management (Prosperity) Limited
AGE
77
TENURE
14.7 yrs

Gerald Ma

TITLE
Non-Executive Director of ARA Asset Management (Prosperity) Limited
AGE
51

John Lim

TITLE
Non-Executive Director of ARA Asset Management (Prosperity) Limited
AGE
61

Kwai Lam Wong

TITLE
Independent Non-Executive Director of ARA Asset Management (Prosperity) Limited
AGE
69
TENURE
7.8 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 ($) Value ($)
03. May 19 Sell ARA Asset Management Limited Company 02. May 19 02. May 19 -467,000 $0.43 $-200,047
03. May 19 Sell ARA Asset Management Limited Company 30. Apr 19 30. Apr 19 -316,000 $0.43 $-135,520
30. Apr 19 Buy ARA Asset Management Limited Company 30. Apr 19 30. Apr 19 3,962,986 $0.43 $1,704,262
29. Apr 19 Sell ARA Asset Management Limited Company 29. Apr 19 29. Apr 19 -626,000 $0.43 $-269,482
29. Apr 19 Sell ARA Asset Management Limited Company 26. Apr 19 26. Apr 19 -530,000 $0.43 $-227,403
12. Apr 19 Sell ARA Asset Management Limited Company 10. Apr 19 10. Apr 19 -269,000 $0.44 $-118,418
01. Apr 19 Sell ARA Asset Management Limited Company 28. Mar 19 28. Mar 19 -4,054,000 $0.45 $-1,827,563
01. Apr 19 Sell ARA Asset Management Limited Company 29. Mar 19 29. Mar 19 -2,133,000 $0.45 $-965,889
01. Apr 19 Sell ARA Asset Management Limited Company 01. Apr 19 01. Apr 19 -2,548,000 $0.45 $-1,154,935
01. Feb 19 Buy ARA Asset Management Limited Company 31. Jan 19 31. Jan 19 4,318,411 $0.40 $1,709,732
18. Jan 19 Sell ARA Asset Management Limited Company 18. Jan 19 18. Jan 19 -1,877,000 $0.39 $-737,150
18. Jan 19 Sell ARA Asset Management Limited Company 17. Jan 19 17. Jan 19 -1,190,000 $0.40 $-470,320
18. Jan 19 Sell ARA Asset Management Limited Company 16. Jan 19 16. Jan 19 -921,000 $0.40 $-364,552
12. Dec 18 Sell ARA Asset Management Limited Company 12. Dec 18 12. Dec 18 -540,000 $0.38 $-204,411
12. Dec 18 Sell ARA Asset Management Limited Company 11. Dec 18 11. Dec 18 -34,000 $0.38 $-12,834
11. Dec 18 Sell ARA Asset Management Limited Company 07. Dec 18 07. Dec 18 -307,000 $0.38 $-115,917
11. Dec 18 Sell ARA Asset Management Limited Company 10. Dec 18 10. Dec 18 -19,000 $0.38 $-7,173
07. Dec 18 Sell ARA Asset Management Limited Company 06. Dec 18 06. Dec 18 -49,000 $0.38 $-18,505
07. Dec 18 Sell ARA Asset Management Limited Company 05. Dec 18 05. Dec 18 -113,000 $0.38 $-42,673
04. Dec 18 Sell ARA Asset Management Limited Company 04. Dec 18 04. Dec 18 -28,000 $0.38 $-10,584
04. Dec 18 Sell ARA Asset Management Limited Company 03. Dec 18 03. Dec 18 -252,000 $0.38 $-95,122
30. Nov 18 Sell ARA Asset Management Limited Company 29. Nov 18 29. Nov 18 -84,000 $0.37 $-30,921
28. Nov 18 Sell ARA Asset Management Limited Company 28. Nov 18 28. Nov 18 -631,000 $0.37 $-230,586
28. Nov 18 Sell ARA Asset Management Limited Company 27. Nov 18 27. Nov 18 -485,000 $0.37 $-177,159
20. Nov 18 Sell ARA Asset Management Limited Company 19. Nov 18 19. Nov 18 -1,200,000 $0.36 $-431,300
01. Nov 18 Buy ARA Asset Management Limited Company 31. Oct 18 31. Oct 18 4,681,442 $0.36 $1,681,822
03. Aug 18 Buy ARA Asset Management Limited Company 31. Jul 18 31. Jul 18 4,053,361 $0.41 $1,654,177
X
Management checks
We assess Prosperity Real Estate Investment 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. Prosperity Real Estate Investment 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.

PREU.F News

Simply Wall St News

PREU.F Company Info

Description

Prosperity REIT [SEHK: 808] is a Hong Kong collective investment scheme authorized under section 104 of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong). Prosperity REIT owns a diverse portfolio of seven high-quality properties in the decentralized business districts of Hong Kong, comprising all, or a portion of, three Grade A office buildings, one commercial building, two industrial/office buildings and one industrial building, with a total gross rentable area of about 1.28 million sq. ft.

Details
Name: Prosperity Real Estate Investment Trust
PREU.F
Exchange: OTCPK
Founded:
HK$639,923,104
1,494,142,362
Website: http://www.prosperityreit.com
Address: Prosperity Real Estate Investment Trust
Units 5508-09, The Center,
55th Floor,
Central,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 808 UNITS The Stock Exchange of Hong Kong Ltd. HK HKD 16. Dec 2005
OTCPK PREU.F UNITS Pink Sheets LLC US USD 16. Dec 2005
Number of employees
Current staff
Staff numbers
0
Prosperity Real Estate Investment Trust employees.
Industry
Office REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/06 01:35
End of day share price update: 2019/02/06 00:00
Last estimates confirmation: 2019/03/25
Last earnings filing: 2019/04/09
Last earnings reported: 2018/12/31
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.