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Prime US REIT
(SGX:OXMU)
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Rating:56Neutral
Price Target:
$0.17
▼(-7.78% Downside)
Action:Reiterated
Date:03/11/26
The score is driven primarily by mixed financial performance: profitability has recovered and margins are strong, but multi-year revenue softness and a sharp 2025 free-cash-flow decline raise durability and flexibility risks. Technical indicators are weak (below major moving averages with negative MACD), while valuation is only moderately supportive (P/E ~13 and ~3.34% yield).
Positive Factors
Profitability rebound & strong margins
The REIT returned to positive net income in 2024–2025 with net margin near 15%, showing durable expense control and recovering operating economics. Sustained margins improve distributable income reliability and reduce dependence on non‑recurring items to fund payouts over the medium term.
Negative Factors
Multi-year revenue decline
Persistent top-line decline across several years signals structural weakness in leasing or rent growth within the U.S. office portfolio. Continued revenue erosion constrains scale benefits, limits margin expansion potential, and weakens the foundation for sustainable distributions over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability rebound & strong margins
The REIT returned to positive net income in 2024–2025 with net margin near 15%, showing durable expense control and recovering operating economics. Sustained margins improve distributable income reliability and reduce dependence on non‑recurring items to fund payouts over the medium term.
Read all positive factors
Prime US REIT (OXMU) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
$231.43M
Dividend Yield2.4%
Average Volume (3M)4.66M
Price to Earnings (P/E)10.7
Beta (1Y)1.17
Revenue Growth-5.79%
EPS Growth143.55%
CountrySG
Employees6
SectorReal Estate
Sector Strength53
IndustryREIT - Office
Share Statistics
EPS (TTM)0.01
Shares Outstanding1,437,458,100
10 Day Avg. Volume3,942,060
30 Day Avg. Volume4,661,596
Financial Highlights & Ratios
PEG Ratio0.09
Price to Book (P/B)0.35
Price to Sales (P/S)1.98
P/FCF Ratio10.15
Enterprise Value/Market Cap3.64
Enterprise Value/Revenue6.31
Enterprise Value/Gross Profit13.00
Enterprise Value/Ebitda12.25
Forecast
1Y Price Target
$0.33Price Target Upside80.56% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.02
Revenue Forecast (FY)$143.62M
Prime US REIT Business Overview & Revenue Model
Company Description
PRIME US REIT ("PRIME") operates as a diversified, Singapore-listed real estate investment trust, focusing its investments primarily on stable, revenue-generating office properties located across the United States. The trust provides investors wit...
How the Company Makes Money
Prime US REIT primarily makes money by leasing space in its U.S. office properties to tenants under contractual lease agreements. Its core revenue stream is rental income (base rent) received from tenants, typically supported by lease terms that m...
Prime US REIT Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
58
Neutral
Cash Flow
55
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 133.43M | 132.37M | 159.89M | 163.01M | 156.74M |
| Gross Profit | 64.63M | 62.96M | 87.02M | 90.06M | 92.98M |
| EBITDA | 61.87M | 41.04M | 73.52M | 89.41M | 92.48M |
| Net Income | 20.33M | 8.05M | -115.84M | -26.92M | 68.19M |
Balance Sheet | |||||
| Total Assets | 1.44B | 1.39B | 1.44B | 1.59B | 1.67B |
| Cash, Cash Equivalents and Short-Term Investments | 31.03M | 27.48M | 11.76M | 11.58M | 13.87M |
| Total Debt | 638.02M | 637.27M | 696.55M | 665.57M | 628.97M |
| Total Liabilities | 684.85M | 678.32M | 730.46M | 695.26M | 681.85M |
| Stockholders Equity | 754.88M | 716.38M | 713.65M | 893.79M | 991.08M |
Cash Flow | |||||
| Free Cash Flow | 26.00M | 33.99M | 61.20M | 59.69M | 79.59M |
| Operating Cash Flow | 63.48M | 72.19M | 85.63M | 89.18M | 95.69M |
| Investing Cash Flow | -37.35M | 37.85M | -24.34M | -30.11M | -260.36M |
| Financing Cash Flow | -22.60M | -94.31M | -61.12M | -61.34M | 141.14M |
Prime US REIT Technical Analysis
Negative
0.18
Price Trends
0.17
Negative
0.18
Negative
0.19
Negative
Market Momentum
>-0.01
Negative
38.77
Neutral
41.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:OXMU, the sentiment is Negative. The current price of 0.18 is above the 20-day moving average (MA) of 0.16, above the 50-day MA of 0.17, and below the 200-day MA of 0.19, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 38.77 is Neutral, neither overbought nor oversold. The STOCH value of 41.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SG:OXMU.
Prime US REIT 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% | |
64 Neutral | $313.21M | 14.88 | 4.67% | 8.23% | -1.69% | -32.49% | |
63 Neutral | £200.49M | 0.14 | 5.84% | 8.36% | -1.97% | -34.76% | |
56 Neutral | $231.43M | 10.73 | 2.75% | 2.40% | -5.79% | 143.55% | |
51 Neutral | $190.09M | -95.79 | -0.27% | ― | 2.57% | 40.91% | |
50 Neutral | $107.90M | -3.99 | -6.69% | 5.06% | -5.96% | -13.94% | |
43 Neutral | $92.38M | -0.64 | -37.68% | ― | -32.02% | 55.49% |
* Real Estate Sector Average
SG:OXMU
Prime US REIT
0.16
<0.01
2.55%
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Prime US REIT Corporate Events
Prime US REIT Confirms Withholding Exception on Unit Transfers for 92-Day Period
Jun 26, 2026
Prime US REIT has issued a Qualified Notice for the period from 1 July 2026 to 30 September 2026, confirming that an exception under U.S. Treasury Regulation § 1.1446(f)-4(b)(3)(ii)(A) applies to transfers of its interests. The REIT states it...
Prime US REIT Signals Stable Outlook and Prudent Strategy at 2026 AGM
May 28, 2026
Prime US REIT held its annual general meeting in Singapore on 28 April 2026, where its board, management and advisers briefed unitholders on the trust’s performance for FY2025 and operational strategy. Management highlighted efforts to enhan...
Prime US REIT fully deploys US$25m placement to bolster leasing and capex
May 12, 2026
Prime US REIT has fully deployed the US$25 million raised from its earlier private placement of 129.2 million new units, with the manager reallocating an additional US$10.9 million from interim debt repayment to fund capital expenditure, tenant in...
Prime US REIT lifts occupancy, locks in future cash flows to raise payout
May 12, 2026
Prime US REIT reported continued leasing momentum in the first quarter of 2026, with committed occupancy edging up to 83.1% and leasing volume of 99,000 square feet delivering a 4.0% positive rental reversion. The trust’s weighted average le...
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.