IREIT Global (UD1U) AI Stock Analysis

• Market Cap: S$396.73M
• Dividend Yield: 8.37%
• Average Volume (3M): 456.80K
• Price to Earnings (P/E): 30.1
• Beta (1Y): 0.31
• Revenue Growth: -11.29%
• EPS Growth: N/A
• Country: SG
• Employees: 742
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Office
• EPS (TTM): N/A
• Shares Outstanding: 1,344,837,500
• 10 Day Avg. Volume: 322,000
• 30 Day Avg. Volume: 456,800
• PEG Ratio: -0.29
• Price to Book (P/B): 0.51
• Price to Sales (P/S): 3.58
• P/FCF Ratio: 5.90
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 65 Neutral
• Price Target: S$0.50 ▲(66.67% Upside)

IREIT Global's stock score is primarily driven by its strong operational efficiency and positive technical indicators. However, the high P/E ratio suggests potential overvaluation, which is mitigated by an attractive dividend yield. The absence of earnings call data and corporate events limits additional insights.

Positive Factors

Operational Efficiency

High gross and EBIT margins indicate effective cost management and operational efficiency, contributing to long-term profitability.

Loan Facility Extension

The extended loan facility enhances financial flexibility and supports strategic initiatives, strengthening long-term market positioning.

Diversified Tenant Base

A diversified tenant base mitigates vacancy risks and ensures steady cash flow, supporting sustainable income distributions.

Negative Factors

Revenue Decline

Significant revenue decline challenges growth prospects and may impact the ability to maintain stable income distributions.

Declining Free Cash Flow

Declining free cash flow growth can strain financial resources, affecting the ability to fund operations and investments.

Potential Litigation

Potential litigation introduces uncertainty and could result in financial liabilities, impacting operational focus and resources.

IREIT Global Business Overview & Revenue Model

Company Description

IREIT Global ("IREIT") is the first Singapore-listed real estate investment trust with the investment strategy of principally investing, directly or indirectly, in a portfolio of income-producing real estate in Europe which is used primarily for office, retail and industrial (including logistics) purposes, as well as real estate-related assets. IREIT's portfolio comprises five freehold office properties in Germany and four freehold office properties in Spain, with a total attributable lettable area of c.230,000 sqm and c.4,000 parking spaces. As at 31 December 2019, the portfolio has an occupancy rate of 94.6% and a valuation of €630.2 million. IREIT is managed by IREIT Global Group Pte. Ltd., which is jointly owned by Tikehau Capital and City Developments Limited ("CDL"). Tikehau Capital is an asset management and investment group listed in France, while CDL is a leading global real estate company listed in Singapore.

How the Company Makes Money

IREIT Global generates revenue primarily through rental income from its portfolio of commercial properties. The company leases its properties to tenants under long-term agreements, ensuring a steady cash flow. Additionally, IREIT benefits from potential capital appreciation of its real estate assets over time. The trust's revenue model is further strengthened by its diversified tenant base, which reduces reliance on any single tenant and mitigates risks associated with vacancy. IREIT may also engage in strategic partnerships or joint ventures to acquire new properties or enhance existing ones, contributing to its overall earnings. The company's performance is influenced by factors such as market demand for commercial real estate, rental rates, and the economic conditions of the regions in which it operates.

IREIT Global Financial Statement Overview

Summary

IREIT Global demonstrates strong operational efficiency with high gross margins and healthy EBIT margins. However, recent revenue declines and inconsistent profitability pose challenges. The balance sheet is stable with moderate leverage, but low return on equity suggests room for improvement in shareholder returns. Cash flow management needs attention due to declining free cash flow growth.

Income Statement

IREIT Global's income statement shows strong gross profit margins consistently above 70%, indicating efficient cost management. However, the company has faced revenue declines recently, with a notable drop of 18.73% in the latest year. Net profit margins have been volatile, with significant losses in 2023 but a recovery in 2024. The EBIT and EBITDA margins are healthy, reflecting good operational efficiency.

Balance Sheet

The balance sheet of IREIT Global is relatively stable, with a moderate debt-to-equity ratio around 0.69, suggesting manageable leverage. The equity ratio is healthy, indicating a strong equity base relative to assets. However, return on equity has been low and inconsistent, reflecting challenges in generating returns for shareholders.

Cash Flow

Cash flow analysis reveals a decline in free cash flow growth, with a significant drop of 30.66% in the latest year. The operating cash flow to net income ratio is strong, indicating good cash generation relative to earnings. However, the free cash flow to net income ratio shows some volatility, highlighting potential cash flow management issues.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	65.51M	75.57M	64.98M	61.65M	52.17M	37.82M
Gross Profit	47.74M	72.63M	46.89M	45.12M	38.69M	32.89M
EBITDA	0.00	42.33M	-116.92M	45.81M	155.90M	43.58M
Net Income	9.12M	8.60M	-105.33M	36.44M	128.49M	19.72M
Balance Sheet
Total Assets	1.00B	961.39M	992.08M	1.04B	1.04B	769.03M
Cash, Cash Equivalents and Short-Term Investments	110.49M	72.17M	57.44M	49.17M	51.67M	43.11M
Total Debt	415.33M	363.80M	377.76M	329.69M	333.40M	274.02M
Total Liabilities	485.15M	432.73M	446.46M	414.44M	416.05M	327.29M
Stockholders Equity	519.83M	528.65M	545.62M	624.70M	619.45M	441.74M
Cash Flow
Free Cash Flow	25.89M	45.89M	25.98M	36.35M	35.65M	25.32M
Operating Cash Flow	25.89M	48.33M	34.24M	39.88M	38.98M	26.49M
Investing Cash Flow	-8.61M	23.08M	-90.47M	-3.52M	-141.05M	-38.88M
Financing Cash Flow	21.72M	-45.36M	53.18M	-38.85M	110.64M	30.16M

IREIT Global Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.30
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:UD1U, the sentiment is Positive. The current price of 0.3 is above the 20-day moving average (MA) of 0.29, above the 50-day MA of 0.29, and above the 200-day MA of 0.27, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 55.77 is Neutral, neither overbought nor oversold. The STOCH value of 133.33 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:UD1U.

IREIT Global Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DHLU	73 Outperform	S$395.69M	13.17	5.87%	8.04%	-5.80%	-27.16%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
UD1U	65 Neutral	S$396.73M	30.10	1.69%	8.37%	-11.29%	―
SET	60 Neutral	€951.45M	18.04	4.58%	8.34%	-3.91%	―
OXMU	57 Neutral	$294.68M	97.62	0.38%	2.40%	-12.01%	―
CMOU	51 Neutral	$240.22M	-15.44	-2.12%	―	-1.55%	78.22%
BTOU	46 Neutral	$129.69M	-0.54	-48.17%	―	-27.66%	-106.71%

IREIT Global Corporate Events

IREIT Global Secures €12.5m CDL-Linked Loan to Reposition Berlin Campus

IREIT Global has secured a two-year €12.5 million term loan facility from City Strategic Equity Pte. Ltd., a wholly owned subsidiary of City Developments Limited, to partly fund construction costs for repositioning its Berlin Campus asset from a single-let property into a multi-let, mixed-use development. The facility, priced at EURIBOR plus a 3.55% margin and subject to usual conditions precedent, includes a change-of-control clause requiring mandatory prepayment if CDL or its wholly owned subsidiaries cease to be substantial shareholders of the REIT’s manager, potentially affecting up to about €443.5 million of IREIT’s facilities, underscoring both the strategic importance of CDL’s backing and the refinancing risk tied to its ownership status.

The most recent analyst rating on (SG:UD1U) stock is a Hold with a S$0.50 price target. To see the full list of analyst forecasts on IREIT Global stock, see the SG:UD1U Stock Forecast page.

IREIT Global Extends and Increases Loan Facility

IREIT Global has announced an amendment to its existing facility agreement with UniCredit Bank GmbH and Landesbank Hessen-Thüringen Girozentrale, increasing the loan facility to €220,760,000 and extending the maturity date to July 31, 2029. This move is significant for IREIT’s financial strategy, as it provides additional capital and extends the timeline for repayment, potentially enhancing the company’s operational flexibility and market positioning.

The most recent analyst rating on (SG:UD1U) stock is a Hold with a S$0.30 price target. To see the full list of analyst forecasts on IREIT Global stock, see the SG:UD1U Stock Forecast page.