Stoneweg European Real Estate Investment Trust (SG:SET)
SGX:SET
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Stoneweg European Real Estate Investment Trust
(SGX:SET)
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Select Model
Rating:66Neutral
Price Target:
€2.00
▲(25.00% Upside)
Action:ReiteratedDate:03/01/26
The score is driven by improving profitability but tempered by rising leverage and weak/volatile free cash flow. Technicals are supportive with the price above major moving averages and positive momentum, while valuation is helped by a moderate P/E and high dividend yield.
Positive Factors
Recurring rental income model
A core REIT model centered on rental and lease income produces recurring, contract-backed cash inflows that underpin distributions and asset-level operating coverage. This structural revenue base supports long-term cash predictability and aligns incentives toward occupancy and lease renewals.
Negative Factors
Rising leverage
Leverage rising toward ~0.93x increases sensitivity to interest-rate cycles and refinancing risk typical for REITs. Higher debt levels constrain financial flexibility, elevate interest burden and amplify the impact of property value swings on equity returns over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring rental income model
A core REIT model centered on rental and lease income produces recurring, contract-backed cash inflows that underpin distributions and asset-level operating coverage. This structural revenue base supports long-term cash predictability and aligns incentives toward occupancy and lease renewals.
Read all positive factors
Stoneweg European Real Estate Investment Trust (SET) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
€832.42M
Dividend Yield8.34%
Average Volume (3M)498.84K
Price to Earnings (P/E)11.6
Beta (1Y)0.37
Revenue Growth-3.91%
EPS GrowthN/A
CountrySG
Employees200
SectorReal Estate
Sector Strength53
IndustryREIT - Diversified
Share Statistics
EPS (TTM)0.05
Shares Outstanding554,947,200
10 Day Avg. Volume766,530
30 Day Avg. Volume498,840
Financial Highlights & Ratios
PEG Ratio-0.06
Price to Book (P/B)0.81
Price to Sales (P/S)4.21
P/FCF Ratio21.96
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€1.91Price Target Upside19.49% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.13
Revenue Forecast (FY)€218.44M
Stoneweg European Real Estate Investment Trust Business Overview & Revenue Model
Company Description
Stoneweg European REIT is a real estate investment trust ("REIT") with the principal investment strategy of investing, directly or indirectly, in a diversified portfolio of income-producing real estate assets in Europe that are used primarily for ...
How the Company Makes Money
Stoneweg European Real Estate Investment Trust generates revenue primarily through rental income derived from its diverse portfolio of properties. The company leases residential and commercial spaces to tenants, providing a steady stream of cash f...
Stoneweg European Real Estate Investment Trust Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
58
Neutral
Cash Flow
47
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 213.20M | 217.38M | 212.92M | 212.92M | 222.10M | 200.12M |
| Gross Profit | 126.49M | 124.64M | 125.44M | 119.47M | 130.42M | 124.47M |
| EBITDA | 0.00 | 142.63M | -23.33M | 96.44M | 123.24M | 118.76M |
| Net Income | 34.69M | 79.03M | -73.90M | 35.48M | 41.95M | 96.60M |
Balance Sheet | ||||||
| Total Assets | 2.34B | 2.37B | 2.32B | 2.37B | 2.59B | 2.53B |
| Cash, Cash Equivalents and Short-Term Investments | 47.36M | 110.81M | 38.54M | 73.80M | 35.43M | 59.26M |
| Total Debt | 1.08B | 1.05B | 948.68M | 947.60M | 1.01B | 922.73M |
| Total Liabilities | 1.16B | 1.24B | 1.12B | 1.11B | 1.17B | 1.06B |
| Stockholders Equity | 1.18B | 1.13B | 1.21B | 1.26B | 1.42B | 1.48B |
Cash Flow | ||||||
| Free Cash Flow | 69.58M | 41.64M | 27.14M | 6.08M | 53.46M | 74.23M |
| Operating Cash Flow | 69.58M | 86.73M | 70.74M | 89.13M | 92.35M | 96.87M |
| Investing Cash Flow | -18.25M | 43.43M | -18.25M | 111.59M | -106.34M | -232.66M |
| Financing Cash Flow | -86.58M | -57.95M | -87.75M | -160.03M | -9.83M | 151.46M |
Stoneweg European Real Estate Investment Trust Technical Analysis
Neutral
1.60
Price Trends
1.55
Negative
1.54
Negative
1.50
Positive
Market Momentum
-0.02
Positive
42.15
Neutral
55.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:SET, the sentiment is Neutral. The current price of 1.6 is above the 20-day moving average (MA) of 1.53, above the 50-day MA of 1.55, and above the 200-day MA of 1.50, indicating a neutral trend. The MACD of -0.02 indicates Positive momentum. The RSI at 42.15 is Neutral, neither overbought nor oversold. The STOCH value of 55.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SG:SET.
Stoneweg European Real Estate Investment Trust Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | S$1.25B | ― | 6.62% | 6.29% | 0.70% | 71.84% | |
70 Neutral | S$1.84B | 7.62 | 4.02% | 8.01% | -6.64% | -12.15% | |
69 Neutral | S$1.17B | 41.80 | 1.92% | 7.16% | -3.65% | -69.86% | |
66 Neutral | €832.42M | 11.57 | 4.58% | 8.34% | -3.91% | ― | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
53 Neutral | S$1.14B | ― | 0.04% | 6.66% | -8.59% | -93.48% |
* Real Estate Sector Average
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Stoneweg European Real Estate Investment Trust Corporate Events
Stoneweg Europe Stapled Trust Sells Three Slovak Industrial Park Subsidiaries
Feb 25, 2026
Stoneweg Europe Stapled Trust has reported the disposal of three wholly owned Slovak subsidiaries during the second half of 2025, in line with disclosure requirements under Singapore Exchange rules. The divested entities—Kosice Industrial Pa...
Stoneweg Europe Stapled Trust Strengthens Board with Appointment of Veteran Real Estate Executive
Feb 10, 2026
Stoneweg Europe Stapled Trust has announced a board refresh at its Singapore-based REIT and business trust manager, reinforcing its focus on governance, board renewal and long-term value creation in its European real estate investment platform. Th...
Stoneweg Europe Stapled Trust Sets Date for FY2025 Results and Investor Briefing
Jan 29, 2026
Stoneweg Europe Stapled Trust (SERT), a Singapore-based stapled security combining a European-focused real estate investment trust and a business trust, is managed by Stoneweg EREIT Management Pte. Ltd. and Stoneweg EBT Management Pte. Ltd. and in...
Stoneweg Europe Stapled Trust Announces Board and Committee Leadership Changes
Jan 28, 2026
Stoneweg Europe Stapled Trust has announced board changes, with Independent Non-Executive Director Mrs. Fang Ai Lian stepping down from the board effective 28 January 2026. Following her departure, Independent Non-Executive Director Ms. Kuan Li Li...
S&P Affirms Stoneweg European REIT’s ‘BBB-’ Rating as Trust Deepens Shift to Logistics and Data Centres
Jan 20, 2026
Stoneweg European REIT has had its investment-grade long-term issuer credit rating of ‘BBB-’ with a stable outlook affirmed by SP Global Ratings, including a ‘BBB-’ rating on its senior unsecured notes, reflecting confidenc...
Stoneweg Europe Stapled Trust Strengthens Board With New Independent Director
Jan 12, 2026
Stoneweg Europe Stapled Trust has announced the appointment of Ms. Kuan Li Li as an Independent Non-executive Director to the boards of its management entities with effect from 12 January 2026, as part of its ongoing board renewal efforts and comm...
Stoneweg Europe Stapled Trust Cancels Over 2 Million Stapled Securities
Dec 30, 2025
Stoneweg Europe Stapled Trust has cancelled 2,078,200 stapled securities effective 30 December 2025, reducing its total stapled securities in issue to 556,884,213. The move modestly tightens the stapled securities base, which may have implications...
Stoneweg Europe Stapled Trust Secures €85 Million Refinancing, Optimizing Financial Strength
Dec 18, 2025
Stoneweg Europe Stapled Trust has completed the final stage of its balance sheet optimization program through a €85 million five-year unsecured financing facility, which includes the option to expand to €185 million. This refinancing e...
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.