| Dividend Yield | 5.56% |
| P/B Ratio | 0.52 |
| Aggregate Leverage Ratio | 42.4 |
| Occupancy Rate | 96.65% |
| WALE | 3.05 year(s) |
| Interest Coverage Ratio | 1.9 times |
| Fixed Rate Debt | 58% |
| Ex-dividend Date | 3 Feb 2025 |
| Record Date | 4 Feb 2025 |
| Payout Date | 28 Feb 2025 |
| Type | Office & Retail |
Remarks
Suntec REIT's percentage of debt hedged to a fixed rate is relatively low, at only 58%. This low rate makes the REIT susceptible to interest rate volatility.
However, because we seem to have entered a new rate-cut cycle, Suntec REIT may benefit faster due to the higher proportion of its floating rates.
David Ang - 23 Jan 2025Suntec REIT has a manageable refinancing obligation of around ~14% in 2025.
David Ang - 23 Jan 2025After several quarters of disappointing results, Suntec REIT finally reported its financial results for FY2024. Gross revenue climbed by 0.2% YoY, but net property income (NPI) declined by 0.8% YoY. Its DPU also declined by 13.2% YoY. Overall, FY2024 was disappointing for Suntec REIT.
David Ang - 23 Jan 2025Suntec REIT's debt profile remained stable in 4Q2024 compared to the previous quarter. However, the overall debt profile is still not favorable. The aggregate leverage ratio climbed to 42.4% (from 42.3% in the last quarter), while the adjusted ICR stayed at 1.9x.
David Ang - 23 Jan 2025Suntec REIT has around 12% exposure to the Australian market. The weaker AUDSGD exchange rate reduced its Australian revenue. With office vacancies likely to increase due to incoming supply and competition, Suntec may find it harder to divest its Australian portfolio in unfavorable market conditions.
David Ang - 23 Jan 2025Geographical Exposure
| Singapore | 78% |
| Australia | 12% |
| United Kingdom | 10% |
Sectoral Exposure
| Office | 77% |
| Retail | 21% |
| Convention | 2% |
Dividend Distribution History (DPU)
Debt Maturity Profile
In $ millions
Show debt maturity profile details
| Fiscal Year | Debt (in $ millions) | Percentage |
|---|---|---|
| FY25 | 619 | 14.64% |
| FY26 | 512 | 12.11% |
| FY27 | 900 | 21.29% |
| FY28 | 1,046 | 24.75% |
| FY29 | 1,150 | 27.21% |
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.