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Starhill Global Real Estate Investment Trust (SG:P40U)
:P40U

Starhill Global Real Estate Investment (P40U) AI Stock Analysis

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Starhill Global Real Estate Investment

(OTC:P40U)

Rating:76Outperform
Price Target:―
Starhill Global Real Estate Investment's strong financial performance and attractive valuation are the primary drivers of its overall score. The company's solid profitability, stable cash flows, and high dividend yield make it a compelling investment in the REIT - Retail sector. Technical indicators suggest a generally positive trend, though caution is warranted due to potential overbought conditions.

Starhill Global Real Estate Investment (P40U) vs. iShares MSCI Singapore ETF (EWS)

Starhill Global Real Estate Investment Business Overview & Revenue Model

Company DescriptionStarhill Global Real Estate Investment Trust (SGREIT) is a Singapore-based real estate investment trust listed on the Singapore Exchange. The company primarily invests in retail and office properties located in prime areas across Asia-Pacific, including Singapore, Malaysia, Australia, China, and Japan. SGREIT focuses on acquiring and managing a diversified portfolio of high-quality real estate assets that generate stable income and potential for capital growth.
How the Company Makes MoneyStarhill Global Real Estate Investment Trust generates revenue primarily through rental income from its portfolio of retail and office properties. The company leases space to a variety of tenants, including retail businesses, offices, and commercial enterprises. This rental income is a steady and predictable revenue stream, providing cash flow that supports distributions to unitholders. Additionally, SGREIT may derive income from property management services and may engage in property development or asset enhancement initiatives that can increase property value and rental income potential. Strategic partnerships with retail and commercial tenants, as well as a focus on prime locations, contribute significantly to the company's earnings.

Starhill Global Real Estate Investment Financial Statement Overview

Summary
Starhill Global Real Estate Investment exhibits strong financial health with consistent revenue growth, solid profitability metrics, moderate leverage, and robust cash flows. Despite some challenges in maintaining operational efficiency and equity levels, the company is well-positioned for sustainable performance.
Income Statement
78
Positive
Starhill Global Real Estate Investment shows strong profitability with a TTM gross profit margin of 71.64% and a net profit margin of 33.49%. Revenue has been growing steadily, with a 3.80% growth from 2021 to 2024. EBIT and EBITDA margins are also healthy at 68.33% and 68.34% respectively, indicating effective cost management. However, the slight decrease in EBIT from 2022 to 2024 signals potential challenges in sustaining operational efficiency.
Balance Sheet
72
Positive
The company maintains a solid equity base with an equity ratio of 61.06%, reflecting financial stability. The debt-to-equity ratio stands at 0.59, indicating moderate leverage. The ROE is relatively strong at 3.71%, suggesting efficient use of equity to generate profit. However, the decrease in stockholders' equity from 2020 to 2024 suggests a need for careful management of financial resources.
Cash Flow
75
Positive
Starhill Global Real Estate Investment demonstrates robust cash flow generation, with free cash flow growth of 86.28% from 2021 to 2024. The operating cash flow to net income ratio is favorable at 2.01, highlighting strong cash conversion. The free cash flow to net income ratio is 1.90, indicating substantial cash generation relative to net income. However, the fluctuations in operating cash flow over the years suggest potential volatility in cash flow management.
BreakdownTTMJun 2024Jun 2023Jun 2022Jun 2021Jun 2020
Income Statement
Total Revenue191.46M189.82M188.19M184.46M171.60M182.20M
Gross Profit137.17M136.04M132.80M126.80M110.49M117.66M
EBITDA130.84M115.88M136.00M143.51M120.01M-56.16M
Net Income64.14M62.67M28.17M49.95M54.43M-97.41M
Balance Sheet
Total Assets2.83B2.84B2.86B3.00B3.08B3.08B
Cash, Cash Equivalents and Short-Term Investments69.21M60.57M68.30M85.66M108.32M117.44M
Total Debt1.03B1.04B1.15B1.18B1.21B1.22B
Total Liabilities1.10B1.12B1.21B1.25B1.29B1.31B
Stockholders Equity1.73B1.62B1.65B1.75B1.79B1.77B
Cash Flow
Free Cash Flow122.15M121.86M65.41M84.27M61.57M34.92M
Operating Cash Flow128.89M136.60M83.24M84.27M96.51M64.68M
Investing Cash Flow10.97M-12.91M612.00K-20.08M-34.94M-29.76M
Financing Cash Flow-131.67M-130.68M-96.01M-82.78M-71.94M8.60M

Starhill Global Real Estate Investment Technical Analysis

Technical Analysis Sentiment
Positive
Last Price0.52
Price Trends
50DMA
0.50
Positive
100DMA
0.50
Positive
200DMA
0.49
Positive
Market Momentum
MACD
<0.01
Negative
RSI
65.04
Neutral
STOCH
66.67
Neutral
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 0.52 is above the 20-day moving average (MA) of 0.51, above the 50-day MA of 0.50, and above the 200-day MA of 0.49, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 65.04 is Neutral, neither overbought nor oversold. The STOCH value of 66.67 is Neutral, 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

Overall Rating
UnderperformOutperform
Sector (65)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
76
Outperform
S$1.18B17.644.09%6.99%2.00%224.44%
74
Outperform
S$816.09M14.445.45%9.01%-3.56%-10.89%
67
Neutral
S$1.30B21.993.16%6.77%-8.34%-22.51%
65
Neutral
$1.99B17.552.40%5.17%-0.31%5.93%
SGQ5T
65
Neutral
S$1.15B24.572.51%7.30%0.84%-64.42%
63
Neutral
S$1.24B79.35-0.91%7.33%-7.66%-145.74%
* Real Estate Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
SG:P40U
Starhill Global Real Estate Investment
0.52
0.07
15.73%
SG:AU8U
CapitaLand China Trust
0.72
0.11
18.03%
SG:CRPU
Sasseur Real Estate Investment Trust
0.64
0.03
4.92%
SG:JYEU
Lendlease Global Commercial REIT
0.52
-0.01
-1.89%
SG:Q5T
Far East Hospitality Trust
0.57
-0.01
-1.72%

Starhill Global Real Estate Investment Corporate Events

Starhill Global REIT Extends Property Management Agreement for Five Years
Jun 27, 2025

Starhill Global Real Estate Investment Trust has announced the extension of its property management agreement with YTL Starhill Global Property Management Pte. Ltd. for its Singapore properties, Ngee Ann City and Wisma Atria, for an additional five years. This extension ensures continuity in property management operations and maintains the existing terms and conditions, which supports stable management and operational efficiency. The extension is deemed an ‘interested person’ transaction under Singapore Exchange regulations but falls below the threshold requiring further action, indicating a stable financial position for the REIT.

The most recent analyst rating on (SG:P40U) stock is a Buy with a S$0.68 price target. To see the full list of analyst forecasts on Starhill Global Real Estate Investment stock, see the SG:P40U Stock Forecast page.

Starhill Global REIT Announces Toshin Master Lease Rent Review
Jun 6, 2025

Starhill Global REIT has announced a rent review for its master lease with Toshin Development Singapore Pte Ltd, which is set to commence on 8 June 2025. The lease terms include an annual fixed rent that will be the higher of a 1% increase over the existing base rent or the prevailing market rental value, with adjustments based on valuations by three licensed valuers. The Toshin Master Lease is significant as it contributes to approximately 23.1% of Starhill Global REIT’s portfolio gross rent, highlighting its impact on the company’s financial performance.

The most recent analyst rating on (SG:P40U) stock is a Buy with a S$0.60 price target. To see the full list of analyst forecasts on Starhill Global Real Estate Investment stock, see the SG:P40U Stock Forecast page.

Starhill Global REIT Completes S$100 Million Notes Redemption
Jun 5, 2025

Starhill Global REIT has successfully redeemed its S$100 million 3.15% notes due in 2025, using proceeds from unsecured loan facilities. This redemption underscores the company’s proactive financial management and may enhance its financial flexibility, potentially benefiting stakeholders by maintaining robust operational stability.

The most recent analyst rating on (SG:P40U) stock is a Buy with a S$0.68 price target. To see the full list of analyst forecasts on Starhill Global Real Estate Investment stock, see the SG:P40U Stock Forecast page.

Starhill Global REIT Faces Changes in Benchmark Index
May 30, 2025

Starhill Global REIT has been informed by FTSE Group of changes to the Benchmark Index, effective from May 15, 2025. This amendment impacts the calculation of the performance fee for the REIT’s manager, which is based on the accumulated returns of the REIT compared to the Benchmark Index. The exclusion of Starhill Global REIT from the Benchmark Index could influence the performance fee structure, potentially affecting the financial incentives for the management.

The most recent analyst rating on (SG:P40U) stock is a Buy with a S$0.68 price target. To see the full list of analyst forecasts on Starhill Global Real Estate Investment stock, see the SG:P40U Stock Forecast page.

Starhill Global REIT Issues New Units for Management Fee Payment
Apr 30, 2025

Starhill Global REIT has announced the issuance of 1,540,015 new units to its manager, YTL Starhill Global REIT Management Limited, as part payment of the base management fee for the first quarter of 2025. This issuance, priced at S$0.4889 per unit, reflects the company’s strategy to manage its financial obligations through a combination of cash and unit payments, thereby maintaining operational flexibility and aligning management interests with those of the stakeholders.

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.Date of analysis: Apr 29, 2025