Cromwell European REIT

CWBU.SI : Singapore Exchange

1.420

+0.71%

Share Price in EUR. As of 21 Jun 17:04:07 SGT

All

Chart

Key stats

  • 52-Week High
    €1.620
  • 52-Week Low
    €1.120
  • Market Cap
    €799M
  • Avg Volume
    367K
  • P/E Ratio (TTM)
    -
  • Forward Dividend Yield
    11.3%

Share Price Performance

CWBU.SI
Market
1 Day -0.70% 0.01%
5 Day 0.00% 0.26%
1 Month -3.40% -0.50%
6 Month -0.70% 2.85%
YTD 0.71% 2.36%
1 Year 0.00% 2.25%
5 Year -42.63% 6.42%
Include dividend return

Beansprout Analysis

Beansprout's Checklist

  • Fundamental

    Occupancy Rate of 94.30% is higher than sector average of 92.78%

  • Financial

    Gearing Ratio of 40.30% is higher than sector average of 39.87%

  • Valuation

    Dividend Yield of 11.27% is higher than sector average of 8.14%

Revenue Breakdown by Asset

Revenue Breakdown by Geography

Market Analysis

Consensus Share Price Target

Price Target: €1.960

Sell
Underperform
Neutral
Outperform
Buy

Source: SGX as of 23 Jun 2024

Analyst Ratings

  • DBS Research

    27 Feb 2024

    Buy

    2.000

  • RBH Invest

    19 Nov 2023

    Buy

    2.100

  • CGSI Research

    27 Feb 2024

    Add

    2.060

    (prev 2.150)

Analyst Reports

Valuation

Price to book (P/B) ratio

Current P/B
0.7
Historical Average P/B
0.8

Cromwell European REIT's current P/B ratio of 0.7x is lower than its historical average P/B ratio of 0.8x.

Earnings

Earnings Highlights

1Q 2024 business update

  • Revenue: SGD 53.28M

    Decreased 3% Year-on-Year

  • Net Property Income (NPI): SGD 32.73M

    Decreased 3% Year-on-Year

    primarily due to divestments (Bari Europa, Bari Trieste and Piazza Affari), which impacted NPI by €2.3 million compared to pcp

  • Portfolio Occupancy: 93.4%

  • Rental Reversion: 9.2%

  • Distribution Per Unit (DPU): SGD 0.04

    Decreased 10% Year-on-Year

    mainly due to the higher finance costs as we transition to a world of higher interest rates

  • Leverage/Gearing: 41%

Earnings per share (EPS)

The latest earnings per share is -€0.14, which is lower than the earnings per share of €0.07 in 2022.

Financials

Financial Statements

26 Feb 2024

Full Yearly Results

For period ending 31 Dec 2023

14 Aug 2023

Half Yearly Results

For period ending 30 Jun 2023

Annual Reports

30 May 2024

Sustainability Report

For period ending 31 Dec 2023

11 Apr 2024

Annual Report

For period ending 31 Dec 2023

News

Profile

Company Description

CEREIT is the first Singapore real estate investment trust with a diversified Pan-European portfolio, established 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 office, light industrial/logistics and retail purposes, as well as real estate-related assets in connection with the foregoing. As at 31 Dec 2020, The CEREIT portfolio (the "current portfolio") is primarily focused on the office and light industrial/logistics sectors. The current portfolio comprises of 96 properties located in Denmark, Finland, France, Germany, Italy, the Netherlands & Poland, with an aggregate lettable area of approximately 1.6 million square metres with ~ 1,000 leases as at 31 Dec 2020. CEREIT's key objectives are (i) to provide Unitholders with regular and stable distributions, and (ii) to achieve long-term growth in distribution per Unit and net asset value per Unit, while maintaining an appropriate capital structure. Cromwell European EREIT Management Pte. Ltd. is the manager of CEREIT. For more information, please visit CEREIT’s website at www.cromwelleuropeanreit.com.sg

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