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Starhill Global Real Estate Investment Trust

OTCPK:SGLM.F
Snowflake Description

Average dividend payer and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SGLM.F
OTCPK
SGD2B
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

Starhill Global REIT is a Singapore-based real estate investment trust investing primarily in real estate used for retail and office purposes, both in Singapore and overseas. The last earnings update was 29 days ago. More info.


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SGLM.F Share Price and Events
7 Day Returns
0%
OTCPK:SGLM.F
-0.3%
US REITs
0.2%
US Market
1 Year Returns
9.1%
OTCPK:SGLM.F
13.3%
US REITs
2.9%
US Market
SGLM.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Starhill Global Real Estate Investment Trust (SGLM.F) 0% 0% - 9.1% 0% -18.4%
US REITs -0.3% 3.5% 3.2% 13.3% 11.3% 24.8%
US Market 0.2% -1.6% 2.4% 2.9% 36.1% 41%
1 Year Return vs Industry and Market
  • SGLM.F underperformed the REITs industry which returned 13.3% over the past year.
  • SGLM.F outperformed the Market in United States of America which returned 2.9% over the past year.
Price Volatility
SGLM.F
Industry
5yr Volatility vs Market

Value

 Is Starhill Global 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 Starhill Global 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 Starhill Global Real Estate Investment Trust.

OTCPK:SGLM.F Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 7 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8%
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:SGLM.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))
= 0.529 (1 + (1- 17%) (70.36%))
0.892
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.89
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.892 * 5.96%)
8.04%

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

The calculations below outline how an intrinsic value for Starhill Global 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.

Starhill Global Real Estate Investment Trust 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:SGLM.F DCF 1st Stage: Next 10 year cash flow forecast
Adjusted Funds From Operations (AFFO) (SGD, Millions) Source Present Value
Discounted (@ 8.04%)
2019 93.00 Analyst x1 86.08
2020 88.00 Analyst x1 75.38
2021 88.00 Analyst x1 69.77
2022 87.00 Est @ -1.13% 63.84
2023 87.03 Est @ 0.03% 59.11
2024 87.76 Est @ 0.84% 55.16
2025 88.99 Est @ 1.41% 51.77
2026 90.59 Est @ 1.8% 48.78
2027 92.48 Est @ 2.08% 46.09
2028 94.58 Est @ 2.28% 43.63
Present value of next 10 years cash flows SGD599.62
OTCPK:SGLM.F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= SGD94.58 × (1 + 2.73%) ÷ (8.04% – 2.73%)
SGD1,828.24
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= SGD1,828.24 ÷ (1 + 8.04%)10
SGD843.33
OTCPK:SGLM.F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= SGD599.62 + SGD843.33
SGD1,442.96
Equity Value per Share
(SGD)
= Total value / Shares Outstanding
= SGD1,442.96 / 2,181.20
SGD0.67
OTCPK:SGLM.F Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:SGLM.F represents 0.72973x of SGX:P40U
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.72973x
Value per Share
(Listing Adjusted, USD)
= Value per Share (SGD) x Listing Adjustment Factor
= SGD 0.67 x 0.72973
$0.49
Value per share (USD) From above. $0.49
Current discount Discount to share price of $0.54
= -1 x ($0.54 - $0.49) / $0.49
-11.1%

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

  • The current share price of Starhill Global 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 Starhill Global 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 Starhill Global 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:SGLM.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in SGD SGD0.05
SGX:P40U Share Price ** SGX (2019-04-24) in SGD SGD0.74
United States of America REITs Industry PE Ratio Median Figure of 155 Publicly-Listed REITs Companies 32.92x
United States of America Market PE Ratio Median Figure of 3,085 Publicly-Listed Companies 17.79x

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

** Primary Listing of Starhill Global Real Estate Investment Trust.

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

= SGX:P40U Share Price ÷ EPS (both in SGD)

= 0.74 ÷ 0.05

15.86x

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

  • Starhill Global Real Estate Investment Trust is good value based on earnings compared to the US REITs industry average.
  • Starhill Global Real Estate Investment Trust is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Starhill Global Real Estate Investment Trust's expected growth come at a high price?
Raw Data
OTCPK:SGLM.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 15.86x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
0.3%per year
United States of America REITs Industry PEG Ratio Median Figure of 141 Publicly-Listed REITs Companies 2.41x
United States of America Market PEG Ratio Median Figure of 2,123 Publicly-Listed Companies 1.54x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 15.86x ÷ 0.3%

48.57x

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

  • Starhill Global Real Estate Investment Trust is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Starhill Global Real Estate Investment Trust's assets?
Raw Data
OTCPK:SGLM.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in SGD SGD0.90
SGX:P40U Share Price * SGX (2019-04-24) in SGD SGD0.74
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.89x
United States of America Market PB Ratio Median Figure of 5,201 Publicly-Listed Companies 1.84x
OTCPK:SGLM.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SGX:P40U Share Price ÷ Book Value per Share (both in SGD)

= 0.74 ÷ 0.90

0.82x

* Primary Listing of Starhill Global Real Estate Investment Trust.

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

  • Starhill Global Real Estate Investment Trust is good value based on assets compared to the US REITs industry average.
X
Value checks
We assess Starhill Global 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. Starhill Global 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.

Future Performance

 How is Starhill Global Real Estate Investment Trust expected to perform in the next 1 to 3 years based on estimates from 7 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
0.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Starhill Global Real Estate Investment Trust expected to grow at an attractive rate?
  • Starhill Global Real Estate Investment Trust's earnings growth is positive but not above the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Starhill Global Real Estate Investment Trust's earnings growth is positive but not above the United States of America market average.
  • Starhill Global 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:SGLM.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:SGLM.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts 0.3%
OTCPK:SGLM.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts 0.7%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 5.8%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.4%
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:SGLM.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 7 Analyst Estimates (S&P Global) See Below
All numbers in SGD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:SGLM.F Future Estimates Data
Date (Data in SGD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-06-30
2022-06-30
2021-06-30 215 137 112 4
2020-06-30 212 139 110 6
2019-06-30 213 140 113 6
OTCPK:SGLM.F Past Financials Data
Date (Data in SGD Millions) Revenue Cash Flow Net Income *
2019-03-31 206 135 102
2018-12-31 206 134 102
2018-09-30 208 139 103
2018-06-30 209 136 103
2018-03-31 211 139 104
2017-12-31 212 137 106
2017-09-30 214 137 108
2017-06-30 216 141 110
2017-03-31 216 140 112
2016-12-31 217 146 113
2016-09-30 218 150 116
2016-06-30 220 155 117

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Starhill Global Real Estate Investment Trust's earnings are expected to grow by 0.3% yearly, however this is not considered high growth (20% yearly).
  • Starhill Global Real Estate Investment Trust's revenue is expected to grow by 0.7% 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:SGLM.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 7 Analyst Estimates (S&P Global) See Below

All data from Starhill Global Real Estate Investment Trust Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

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

*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.
  • Starhill Global 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 Starhill Global 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.
Starhill Global 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.

Past Performance

  How has Starhill Global 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 Starhill Global 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.
  • Starhill Global Real Estate Investment Trust's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Starhill Global Real Estate Investment Trust's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Starhill Global 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
Starhill Global 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 Starhill Global Real Estate Investment Trust Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:SGLM.F Past Revenue, Cash Flow and Net Income Data
Date (Data in SGD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 205.97 101.76 4.89
2018-12-31 206.44 102.10 4.90
2018-09-30 207.86 102.63 4.67
2018-06-30 208.81 103.14 4.89
2018-03-31 210.89 104.18 5.16
2017-12-31 212.48 105.90 4.94
2017-09-30 214.09 107.71 5.06
2017-06-30 216.36 110.45 4.72
2017-03-31 216.30 112.49 4.37
2016-12-31 216.61 113.35 4.29
2016-09-30 218.16 115.91 4.33
2016-06-30 219.68 116.50 4.35
2016-03-31 218.60 117.18 6.58
2015-12-31 212.84 117.37 6.47
2015-09-30 206.10 116.11 6.20
2015-06-30 197.93 114.35 6.08
2015-03-31 193.80 113.45 2.86
2014-12-31 195.13 112.69 2.85
2014-09-30 195.32 108.86 3.01
2014-06-30 195.49 107.37 3.04
2014-03-31 196.19 107.89 3.14
2013-12-31 200.62 107.80 3.10
2013-09-30 198.91 88.80 6.30
2013-06-30 196.38 84.11 6.20
2013-03-31 193.61 81.32 6.28
2012-12-31 186.01 86.95 6.39
2012-09-30 184.60 111.64 5.66
2012-06-30 182.39 86.58 5.78

*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.
  • Starhill Global Real Estate Investment Trust has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Starhill Global Real Estate Investment Trust used its assets less efficiently than the US REITs industry average last year based on Return on Assets.
  • Starhill Global 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 Starhill Global 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.
Starhill Global Real Estate Investment Trust 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.

Health

 How is Starhill Global 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 Starhill Global Real Estate Investment Trust's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Starhill Global Real Estate Investment Trust's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Starhill Global 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 Starhill Global 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 0.1x 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 Starhill Global Real Estate Investment Trust Company Filings, last reported 1 month ago.

OTCPK:SGLM.F Past Debt and Equity Data
Date (Data in SGD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 1,962.89 1,135.69 68.48
2018-12-31 1,964.01 1,127.28 62.15
2018-09-30 1,977.97 1,119.31 62.40
2018-06-30 1,990.30 1,131.73 66.89
2018-03-31 2,010.22 1,131.76 62.16
2017-12-31 2,012.63 1,132.94 65.31
2017-09-30 2,013.28 1,135.61 69.88
2017-06-30 2,009.35 1,138.11 76.63
2017-03-31 2,011.90 1,136.17 72.46
2016-12-31 2,012.57 1,131.46 76.74
2016-09-30 2,024.03 1,140.80 79.28
2016-06-30 2,017.55 1,127.68 76.97
2016-03-31 1,965.87 1,122.39 70.34
2015-12-31 1,967.22 1,131.89 59.56
2015-09-30 1,952.67 1,123.68 56.51
2015-06-30 1,982.79 1,130.29 51.57
2015-03-31 2,026.26 763.27
2014-12-31 2,033.23 843.36 81.64
2014-09-30 2,007.87 852.79 79.41
2014-06-30 2,013.20 864.02 84.96
2014-03-31 2,013.29 872.48 89.34
2013-12-31 2,010.14 845.90 58.04
2013-09-30 1,874.05 853.59 55.20
2013-06-30 1,888.83 856.32 62.07
2013-03-31 1,897.80 869.90 62.18
2012-12-31 1,882.06 851.93 79.38
2012-09-30 1,849.50 872.26 75.07
2012-06-30 1,850.90 857.90 90.99
  • Starhill Global Real Estate Investment Trust's level of debt (57.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (43.3% vs 57.9% today).
  • Debt is not well covered by operating cash flow (11.9%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 3.8x coverage).
X
Financial health checks
We assess Starhill Global 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. Starhill Global Real Estate Investment Trust has a total score of 1/6, 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 Starhill Global 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
6.15%
Current annual income from Starhill Global Real Estate Investment Trust dividends. Estimated to be 6.44% next year.
If you bought $2,000 of Starhill Global Real Estate Investment Trust shares you are expected to receive $123 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?
  • Starhill Global Real Estate Investment Trust's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.45%).
  • Starhill Global Real Estate Investment Trust's dividend is above the markets top 25% of dividend payers in United States of America (3.7%).
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:SGLM.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 7 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 2005 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:SGLM.F Future Dividends Estimate Data
Date (Data in SGD) Dividend per Share (annual) Avg. No. Analysts
2023-06-30 0.05 1.00
2022-06-30 0.05 1.00
2021-06-30 0.05 6.00
2020-06-30 0.05 7.00
2019-06-30 0.05 7.00
OTCPK:SGLM.F Past Annualized Dividends Data
Date (Data in SGD) Dividend per share (annual) Avg. Yield (%)
2018-07-27 0.046 6.511
2017-07-28 0.049 6.737
2017-01-26 0.051 6.720
2016-09-26 0.052 6.690
2016-07-29 0.052 6.383
2015-09-25 0.076 9.912
2015-07-29 0.076 9.727
2015-01-27 0.051 5.910
2014-01-24 0.050 6.204
2013-03-28 0.044 5.304
2013-01-29 0.044 5.015
2012-10-29 0.044 5.708
2012-07-24 0.043 5.740
2012-01-30 0.040 6.358
2011-07-25 0.042 7.023
2011-04-26 0.043 6.745
2011-03-25 0.039 6.238
2011-01-26 0.039 6.149
2010-01-28 0.039 6.668
2009-10-28 0.038 6.983
2009-07-29 0.076 13.483

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 Starhill Global Real Estate Investment Trust's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (1923.1x coverage).
X
Income/ dividend checks
We assess Starhill Global 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 Starhill Global Real Estate Investment Trust afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Starhill Global Real Estate Investment Trust 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.

Management

 What is the CEO of Starhill Global 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
Sing Ho
COMPENSATION SGD0
AGE 52
TENURE AS CEO 9.1 years
CEO Bio

Mr. Ho Sing has been the Chief Executive Officer of YTL Starhill Global REIT Management Limited, the Manager of Starhill Global Real Estate Investment Trust since April 20, 2010. Mr. Ho has over 20 years of leadership and Management experience with multi-national companies in engineering, medical, infrastructure and real estate. He served as the President of Lereno Bio-Chem Ltd. (Mae Engineering Ltd.) from July 11, 2005 to January 31, 2006. Mr. Ho served as a General Manager of International Investment at Guocoland Limited from 2007 to 2010. He served as Vice President of SPI 2000 Pte Ltd from 1999 to 2002. He served as Vice President of Technology at Dornier Medtech GmbH. He served as Chief Executive Officer of Dornier Medtech GmbH from 2002 to 2004. He served as Chief Operating Officer of Cradance Services Pte Ltd from 2004 to 2005. He served as Consultant at Lereno Bio-Chem Ltd from February 2006 to May 2006. He served as Senior Vice President of Strategic Relations at SembCorp. Industries Ltd from 2006 to 2007. He assists the Executive Chairman and the Board of YSGRM in formulating strategies for Starhill Global REIT and is responsible for the day-to-day operation of Starhill Global REIT. He held senior positions in Singapore Technologies Group and Dornier Medical. He has been an Independent Non-Executive Director of Daiman Development Bhd since December 20, 2011. He has been an Executive Director of YTL Starhill Global REIT Management Limited, the Manager of Starhill Global Real Estate Investment Trust since April 20, 2010. He serves as a Director of Bitwave, Singapore. Mr. Ho is a member of the Advisory and Investment Committee of Isola Capital Group. He served as an Independent Director of UMS Holdings from December 2006 to July 2008. Mr. Ho holds a Bachelor of Science degree in Aerospace Engineering from the University of Texas, Austin, USA. He also completed the Stanford Executive Program at Stanford University in 2002.

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

Average tenure of the Starhill Global Real Estate Investment Trust management team in years:

9.1
Average Tenure
  • The average tenure for the Starhill Global Real Estate Investment Trust management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Sing Ho

TITLE
CEO & Executive Director
AGE
52
TENURE
9.1 yrs

Alice Cheong

TITLE
Chief Financial Officer of YTL Starhill Global REIT Management Limited
AGE
47
TENURE
10.1 yrs

Clare Koh

TITLE
Senior VP & Head of Investments - YTL Starhill Global REIT Management Limited

Stephen Yeo

TITLE
Senior VP of Finance & Accounting - YTL Starhill Global REIT Management Limited

Jonathan Kuah

TITLE
Senior VP

Chee Kin Lam

TITLE
Senior VP of Legal & Compliance and Joint Company Secretary of YTL Starhill Global REIT Mgmt Ltd

Alvin Tay

TITLE
Senior Vice President of Asset Management - YTL Starhill Global REIT Management Limited
TENURE
0.7 yrs

Abdul Jabbar bin Karam Din

TITLE
Joint Company Secretary - YTL Starhill Global REIT Management Limited
Board of Directors Tenure

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

5.8
Average Tenure
60.5
Average Age
  • The tenure for the Starhill Global Real Estate Investment Trust board of directors is about average.
Board of Directors

Francis Yeoh

TITLE
Non-Executive Chairman
COMPENSATION
SGD100K
AGE
63
TENURE
10.4 yrs

Sing Ho

TITLE
CEO & Executive Director
AGE
52
TENURE
9.1 yrs

Bong Lin Tan

TITLE
Lead Independent Director
COMPENSATION
SGD37K
AGE
61
TENURE
1.3 yrs

Seok Yeoh

TITLE
Non-Executive Director
COMPENSATION
SGD63K
AGE
60
TENURE
10.4 yrs

Yew Ching

TITLE
Independent Non-Executive Director
COMPENSATION
SGD68K
AGE
65
TENURE
2.5 yrs

Woon Hum Tan

TITLE
Independent Non-Executive Director
COMPENSATION
SGD62K
AGE
48
TENURE
1.8 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 ($) Value ($)
X
Management checks
We assess Starhill Global 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. Starhill Global 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.

News

Simply Wall St News

Company Info

Description

Starhill Global REIT is a Singapore-based real estate investment trust investing primarily in real estate used for retail and office purposes, both in Singapore and overseas. Since its listing on the Mainboard of the Singapore Exchange Securities Trading Limited (the “SGX-ST”) on 20 September 2005, Starhill Global REIT has grown its initial portfolio from interests in two landmark properties on Orchard Road in Singapore to 10 properties in Singapore, Australia, Malaysia, China, and Japan, valued at about S$3.1 billion. These comprise interests in Wisma Atria and Ngee Ann City on Orchard Road in Singapore, Myer Centre Adelaide, David Jones Building and Plaza Arcade in Adelaide and Perth, Australia, Starhill Gallery and Lot 10 in Kuala Lumpur, Malaysia, a retail property in Chengdu, China, and two properties in Tokyo, Japan. Starhill Global REIT remains focused on sourcing attractive property assets in Singapore and overseas, while driving organic growth from its existing portfolio, through proactive leasing efforts and creative asset enhancements. Starhill Global REIT is managed by an external manager, YTL Starhill Global REIT Management Limited. The Manager is a wholly-owned subsidiary of YTL Starhill Global REIT Management Holdings Pte. Ltd. which is in turn an indirect wholly-owned subsidiary of YTL Corporation Berhad.

Details
Name: Starhill Global Real Estate Investment Trust
SGLM.F
Exchange: OTCPK
Founded:
SGD1,170,275,863
2,181,204,435
Website: http://www.starhillglobalreit.com
Address: Starhill Global Real Estate Investment Trust
Tower B,
391B Orchard Road,
Singapore,
238874,
Singapore
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SGX P40U UNITS Singapore Exchange SG SGD 20. Sep 2005
OTCPK SGLM.F UNITS Pink Sheets LLC US USD 20. Sep 2005
Number of employees
Current staff
Staff numbers
0
Starhill Global Real Estate Investment Trust employees.
Industry
Retail REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/24 00:16
End of day share price update: 2019/04/24 00:00
Last estimates confirmation: 2019/05/09
Last earnings filing: 2019/04/25
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/06/30


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.