Starhill Global Real Estate Investment Trust (SG:P40U)
SGX:P40U
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Starhill Global Real Estate Investment
(SGX:P40U)
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Rating:72Outperform
Price Target:
S$0.50
▼(-10.71% Downside)
Action:UpgradedDate:10/17/25
Starhill Global REIT earns an overall score of 72, driven primarily by strong financial profitability and attractive valuation with a 6.35% dividend yield. Positive technical momentum further supports the score, with the stock showing a consistent uptrend. However, modest revenue growth and declining free cash flow remain key risks to monitor.
Positive Factors
Revenue Growth
The significant revenue growth indicates strong demand for its properties and effective asset management, enhancing long-term income stability.
Negative Factors
Free Cash Flow Decline
A decline in free cash flow growth could impact liquidity and limit the company's ability to reinvest in its portfolio or manage debt effectively.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
The significant revenue growth indicates strong demand for its properties and effective asset management, enhancing long-term income stability.
Read all positive factors
Starhill Global Real Estate Investment (P40U) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$1.29B
Dividend Yield6.29%
Average Volume (3M)1.38M
Price to Earnings (P/E)―
Beta (1Y)0.43
Revenue Growth0.65%
EPS Growth62.33%
CountrySG
Employees76
SectorReal Estate
Sector Strength53
IndustryREIT - Retail
Share Statistics
EPS (TTM)0.02
Shares Outstanding2,319,631,300
10 Day Avg. Volume1,377,810
30 Day Avg. Volume1,376,496
Financial Highlights & Ratios
PEG Ratio0.18
Price to Book (P/B)0.67
Price to Sales (P/S)6.07
P/FCF Ratio10.13
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
S$0.68Price Target Upside21.43% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.04
Revenue Forecast (FY)S$181.47M
Starhill Global Real Estate Investment Business Overview & Revenue Model
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. Since its listing on the Mainboard of the Singapore Exchange Securities ...
How the Company Makes Money
Starhill Global generates revenue primarily through rental income derived from its portfolio of properties. The company leases retail spaces in shopping malls, hotel accommodations, and office units to tenants, which provides a steady cash flow. A...
Starhill Global Real Estate Investment Financial Statement Overview
Summary
Income Statement
75
Positive
Balance Sheet
65
Positive
Cash Flow
60
Neutral
| Breakdown | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 192.10M | 189.82M | 188.19M | 184.46M | 171.60M |
| Gross Profit | 130.07M | 136.04M | 132.80M | 126.80M | 110.49M |
| EBITDA | 159.56M | 115.88M | 136.00M | 143.51M | 120.01M |
| Net Income | 87.82M | 62.67M | 28.17M | 49.95M | 54.43M |
Balance Sheet | |||||
| Total Assets | 2.85B | 2.84B | 2.86B | 3.00B | 3.08B |
| Cash, Cash Equivalents and Short-Term Investments | 84.46M | 60.57M | 68.30M | 85.66M | 108.32M |
| Total Debt | 1.02B | 1.04B | 1.15B | 1.18B | 1.21B |
| Total Liabilities | 1.10B | 1.12B | 1.21B | 1.25B | 1.29B |
| Stockholders Equity | 1.74B | 1.62B | 1.65B | 1.75B | 1.79B |
Cash Flow | |||||
| Free Cash Flow | 115.07M | 121.86M | 65.41M | 84.27M | 61.57M |
| Operating Cash Flow | 125.63M | 136.60M | 83.24M | 84.27M | 96.51M |
| Investing Cash Flow | 32.17M | -12.91M | 612.00K | -20.08M | -34.94M |
| Financing Cash Flow | -132.43M | -130.68M | -96.01M | -82.78M | -71.94M |
Starhill Global Real Estate Investment Technical Analysis
Positive
0.56
Price Trends
0.55
Positive
0.56
Negative
0.55
Positive
Market Momentum
<0.01
Negative
57.20
Neutral
91.67
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:P40U, the sentiment is Positive. The current price of 0.56 is above the 20-day moving average (MA) of 0.55, above the 50-day MA of 0.55, and above the 200-day MA of 0.55, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 57.20 is Neutral, neither overbought nor oversold. The STOCH value of 91.67 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:P40U.
Starhill Global Real Estate Investment Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | S$1.29B | ― | 6.62% | 6.29% | 0.65% | 62.33% | |
70 Outperform | S$18.91B | 18.93 | 5.88% | 5.26% | 1.66% | -6.80% | |
68 Neutral | S$7.39B | 21.59 | 7.29% | 5.50% | -4.99% | 52.77% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
62 Neutral | S$4.43B | ― | -0.38% | 4.55% | 1.45% | 39.79% | |
57 Neutral | S$2.02B | 69.70 | -2.15% | 6.03% | -7.25% | ― | |
53 Neutral | S$1.20B | -247.46 | 0.93% | 6.66% | -11.25% | 46.08% |
* Real Estate Sector Average
SG:P40U
Starhill Global Real Estate Investment
0.56
0.09
19.87%
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39.31%
Starhill Global Real Estate Investment Corporate Events
Starhill Global REIT Secures Debt Classification for S$100m Perpetual Securities in IRAS Tax Ruling
Dec 31, 2025
Starhill Global REIT has obtained an advance tax ruling from the Inland Revenue Authority of Singapore confirming that its S$100 million 3.25 per cent subordinated perpetual securities (Series 004), issued under its S$2 billion multicurrency debt ...
Starhill Global REIT Updates Benchmark Index Used for Manager Performance Fees
Dec 23, 2025
Starhill Global REIT has announced that FTSE Group will amend the benchmark index used to measure its performance, with the changes taking effect from 22 December 2025. This benchmark index, which excludes Starhill Global REIT itself and is indepe...
Starhill Global REIT Announces Toshin Master Lease Rent Review Update
Dec 17, 2025
Starhill Global REIT announced updates regarding the rent review for its Toshin Master Lease, effective from June 2025. The new Annual Fixed Rent is set approximately 1% higher than the base rent under the prior lease, aligning with the lease̵...
Starhill Global REIT Completes Redemption of S$100 Million Perpetual Securities
Dec 15, 2025
Starhill Global Real Estate Investment Trust has successfully redeemed and cancelled its S$100 million 3.85% perpetual securities issued under its S$2 billion multicurrency debt issuance program. This redemption, completed on December 15, 2025, si...
Starhill Global REIT Reviews FY2024/25 Performance and Strategic Initiatives at AGM
Nov 26, 2025
Starhill Global Real Estate Investment Trust held its 16th Annual General Meeting, where the CEO presented the financial highlights for FY2024/25, an operational review, and discussed the rejuvenation of its portfolio and ESG initiatives. The meet...
Starhill Global REIT Announces Redemption of Perpetual Securities
Oct 31, 2025
Starhill Global Real Estate Investment Trust has announced the redemption of its S$100,000,000 3.85% perpetual securities on December 15, 2025. This strategic financial move is part of the company’s broader debt management strategy, potentia...
Starhill Global REIT Issues New Units for Management Fee Payment
Oct 30, 2025
Starhill Global REIT announced the issuance of 1,345,008 new units to its manager, YTL Starhill Global REIT Management Limited, as partial payment of the base management fee for the third quarter of 2025. The issuance reflects the company’s ...
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.