| Dividend Yield | 4.57% |
| P/B Ratio | 0.6 |
| Aggregate Leverage Ratio | 42.3 |
| Occupancy Rate | 95.3% |
| WALE | 3.1 year(s) |
| Interest Coverage Ratio | 2 times |
| Fixed Rate Debt | 61% |
| Ex-dividend Date | 1 Aug 2024 |
| Record Date | 2 Aug 2024 |
| Payout Date | 29 Aug 2024 |
| Type | Office & Retail |
Remarks
Suntec REIT's percentage of debt hedged to a fixed rate is relatively low, at only 61%. This low rate makes the REIT susceptible to interest rate volatility.
On the flip side, should the interest rate decline soon, the REIT borrowing cost will go down faster because of the higher percentage of floating rate.
David Ang - 29 Jul 2024Suntec REIT has no refinancing needs in FY2024.
David Ang - 29 Jul 2024Suntec REIT reported mixed financial results in 2Q2024, with revenue climbing 1.2% YoY but net property income (NPI) declining 1.5% YoY. It paid a lower DPU of 3.042 cents in 1H2024 (or 1.2% lower YoY).
David Ang - 29 Jul 2024Suntec REIT's debt profile was stable in 2Q2024 compared to the previous quarter. The overall debt profile is still not favorable. The aggregate leverage ratio was 42.3%. Adjusted ICR increased slightly to 2.0x. Because the adjusted ICR is less than 2.5x, the maximum allowed aggregate leverage ratio is only 45%. Given that the REIT's current leverage ratio is nearing the regulatory limit and the interest rate is predicted to remain high, increasing unit holders' value may be more challenging.
David Ang - 29 Jul 2024Suntec REIT has around 17% exposure to the Australian market. The weaker AUDSGD exchange rate caused its Australian revenue to be lower. With the office vacancy likely to increase due to the incoming supply/competition, Suntec may find it harder to divest its Australian portfolio in unfavorable market conditions.
David Ang - 26 Apr 2024Geographical Exposure
| Singapore | 71% |
| Australia | 17% |
| United Kingdom | 12% |
Sectoral Exposure
| Office | 73% |
| Retail | 25% |
| Convention | 2% |
Dividend Distribution History (DPU)
Debt Maturity Profile
In $ millions
Show debt maturity profile details
| Fiscal Year | Debt (in $ millions) | Percentage |
|---|---|---|
| FY24 | 0 | 0% |
| FY25 | 631 | 14.84% |
| FY26 | 526 | 12.37% |
| FY27 | 900 | 21.23% |
| FY28 | 1,046 | 24.67% |
| FY29 | 1,150 | 27.12% |
Disclaimer: We do not guarantee the data above is accurate. The information presented here is for general information only. It is not intended to be and does not constitute financial advice, investment advice, trading advice, or any other advice or recommendation of any sort. Please do your own research before investing.