Daiwa House Logistics Trust (SG:DHLU)
SGX:DHLU
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Daiwa House Logistics Trust
(SGX:DHLU)
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Rating:60Neutral
Price Target:
S$0.57
▲(14.40% Upside)
Action:DowngradedDate:03/03/26
Daiwa House Logistics Trust receives a score of 60, reflecting a conflict between attractive pricing and fundamental risks. The primary appeal lies in its valuation, offering a high dividend yield and a modest P/E ratio. However, the investment case is weakened by poor technical momentum and financial concerns regarding declining cash flows and increased leverage.
Positive Factors
Predictable rental-income business model
The trust’s core earnings derive from contractual rents and recoveries, providing durable, recurring cash flows tied to long-term leases. That lease-based business model supports distribution predictability and planning for capex and refinancing over multiple quarters.
Negative Factors
Material multi-year revenue decline
Sustained revenue contraction reduces scale and can strain coverage of fixed property costs and financing. Even with strong margins, prolonged top-line decline limits distributable income growth and weakens the business case for new acquisitions financed by cash flows.
Read all positive and negative factors
Positive Factors
Negative Factors
Predictable rental-income business model
The trust’s core earnings derive from contractual rents and recoveries, providing durable, recurring cash flows tied to long-term leases. That lease-based business model supports distribution predictability and planning for capex and refinancing over multiple quarters.
Read all positive factors
Daiwa House Logistics Trust (DHLU) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$346.87M
Dividend Yield8.04%
Average Volume (3M)311.73K
Price to Earnings (P/E)11.1
Beta (1Y)0.34
Revenue Growth-5.80%
EPS Growth-27.16%
CountrySG
Employees13
SectorReal Estate
Sector Strength53
IndustryREIT - Industrial
Share Statistics
EPS (TTM)N/A
Shares Outstanding700,739,260
10 Day Avg. Volume295,920
30 Day Avg. Volume311,730
Financial Highlights & Ratios
PEG Ratio4.50
Price to Book (P/B)0.86
Price to Sales (P/S)6.73
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
S$0.57Price Target Upside14.00% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Daiwa House Logistics Trust Business Overview & Revenue Model
Company Description
DHLT is a Singapore REIT constituted pursuant to a Trust Deed dated 2 November 2021 made between Daiwa House Asset Management Asia Pte. Ltd. (the "Manager") and HSBC Institutional Trust Services (Singapore) Limited (the "Trustee"). DHLT is establi...
How the Company Makes Money
Daiwa House Logistics Trust generates revenue primarily through rental income from its portfolio of logistics and industrial properties. The trust leases its facilities to a diverse range of tenants, including e-commerce companies, manufacturers, ...
Daiwa House Logistics Trust Financial Statement Overview
Summary
Income Statement
68
Positive
Balance Sheet
52
Neutral
Cash Flow
42
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 58.68M | 57.10M | 59.85M | 69.86M | 71.02M |
| Gross Profit | 40.88M | 43.89M | 45.32M | 49.56M | 54.78M |
| EBITDA | 50.94M | 39.49M | 44.53M | 47.03M | 45.81M |
| Net Income | 35.65M | 33.92M | 43.32M | 140.29M | 27.10M |
Balance Sheet | |||||
| Total Assets | 1.06B | 1.08B | 1.10B | 1.18B | 1.21B |
| Cash, Cash Equivalents and Short-Term Investments | 71.49M | 41.60M | 45.80M | 48.94M | 15.39M |
| Total Debt | 649.69M | 517.42M | 471.70M | 511.97M | 615.64M |
| Total Liabilities | 603.06M | 565.39M | 548.26M | 588.04M | 665.65M |
| Stockholders Equity | 457.29M | 518.13M | 517.70M | 589.00M | 549.25M |
Cash Flow | |||||
| Free Cash Flow | 0.00 | 40.42M | 44.47M | 45.45M | -31.69M |
| Operating Cash Flow | 37.70M | 40.85M | 44.47M | 45.45M | -31.69M |
| Investing Cash Flow | -35.96M | -49.09M | -300.00K | -885.72M | -861.46M |
| Financing Cash Flow | -9.01M | 2.63M | -44.09M | 947.97M | 899.68M |
Daiwa House Logistics Trust Technical Analysis
Negative
0.50
Price Trends
0.53
Negative
0.53
Negative
0.54
Negative
Market Momentum
>-0.01
Positive
40.05
Neutral
27.78
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:DHLU, the sentiment is Negative. The current price of 0.5 is below the 20-day moving average (MA) of 0.51, below the 50-day MA of 0.53, and below the 200-day MA of 0.54, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 40.05 is Neutral, neither overbought nor oversold. The STOCH value of 27.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SG:DHLU.
Daiwa House Logistics Trust Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
63 Neutral | S$356.62M | 40.79 | ― | 8.67% | 0.62% | 22.60% | |
60 Neutral | S$346.87M | 11.08 | 7.30% | 8.04% | -5.80% | -27.16% | |
51 Neutral | $145.03M | -3.69 | -4.00% | 5.06% | -6.01% | -36.46% | |
51 Neutral | $181.73M | ― | -2.16% | ― | -1.55% | 78.22% | |
43 Neutral | S$316.04M | -4.18 | 1.74% | 8.37% | -11.29% | ― | |
42 Neutral | S$226.75M | -1.74 | ― | ― | -55.98% | 76.02% |
* Real Estate Sector Average
SG:DHLU
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Daiwa House Logistics Trust Corporate Events
Daiwa House Logistics Trust Issues New Units to Pay Manager’s Base Fee
Mar 3, 2026
Daiwa House Logistics Trust’s manager has received part of its base management fee for the quarter from 1 October 2025 to 31 December 2025 through the issuance of 405,291 new units at S$0.5669 per unit, priced based on the volume-weighted av...
Daiwa House Logistics Trust Secures Land-Use Upgrade for DPL Shinfuji Asset
Jan 23, 2026
Daiwa House Logistics Trust has completed a key land-use conversion for its DPL Shinfuji property in Fuji City, Japan, with previously designated agricultural parcels now formally registered as building lots following a final order issued by the c...
Daiwa House Logistics Trust Secures S$30 Million Revolving Credit Facility with Change-of-Control Conditions
Dec 22, 2025
Daiwa House Logistics Trust has secured a S$30 million revolving credit facility arranged through its trustee, HSBC Institutional Trust Services (Singapore), which includes conditions that could trigger mandatory prepayment if there is a change in...
Daiwa House Logistics Trust Secures First S$30 Million Sustainability-Linked Loan
Dec 22, 2025
Daiwa House Logistics Trust has established its first sustainability-linked loan, securing a committed S$30 million unsecured revolving credit facility that currently remains undrawn. In conjunction with this, the REIT has introduced a sustainabil...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.