Financials Prime US REIT

Equities

Market Closed - Singapore S.E. Other stock markets 05:08:23 2024-04-30 am EDT			5-day change	1st Jan Change
0.112 ^USD	-0.88%		+1.82%	-48.67%

Mar. 28	Prime US REIT Lists New Units for Distribution	MT
Mar. 18	Prime US REIT Appoints CEO; Shares Down 5%	MT

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	892.6	835.7	975.4	479.1	285.4	146.5	-	-
Enterprise Value (EV) ¹	1,295	1,279	1,591	1,133	285.4	800.5	812.5	827.5
P/E ratio	10.7 x	35.3 x	13.6 x	-17.7 x	-2.7 x	4.3 x	2.75 x	2.48 x
Yield	8.29%	8.78%	8.12%	16.2%	-	8.63%	38.8%	38.6%
Capitalization / Revenue	6.13 x	5.82 x	6.22 x	2.94 x	1.79 x	0.92 x	0.87 x	0.85 x
EV / Revenue	8.89 x	8.91 x	10.1 x	6.95 x	1.79 x	5.04 x	4.83 x	4.78 x
EV / EBITDA	-	15 x	17.5 x	13 x	3.36 x	9.5 x	9.08 x	9 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	1.08 x	0.92 x	0.98 x	0.54 x	-	0.21 x	0.22 x	0.21 x
Nbr of stocks (in thousands)	1,017,505	1,163,571	1,285,013	1,301,340	1,308,261	1,308,259	-	-
Reference price ²	0.8773	0.7182	0.7591	0.3682	0.2182	0.1120	0.1120	0.1120
Announcement Date	2/11/20	2/17/21	2/16/22	2/8/23	2/21/24	-	-	-

¹USD in Million²USD

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	145.6	143.6	156.7	163	159.8	158.7	168.1	173.3
EBITDA ¹	-	85.4	90.93	87.24	84.96	84.25	89.5	91.95
EBIT ¹	86.66	85.4	90.93	87.24	84.96	84.25	89.5	91.95
Operating Margin	59.53%	59.49%	58.01%	53.52%	53.17%	53.09%	53.24%	53.06%
Earnings before Tax (EBT) ¹	98.33	25.24	72.9	-40.81	-115.8	34.45	57.95	66.45
Net income ¹	80.89	23.21	68.19	-26.92	-115.8	43.04	56.65	63.15
Net margin	55.56%	16.17%	43.5%	-16.51%	-72.49%	27.12%	33.7%	36.44%
EPS ²	0.0818	0.0204	0.0557	-0.0208	-0.0807	0.0260	0.0407	0.0452
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.0727	0.0631	0.0616	0.0596	-	0.009660	0.0434	0.0432
Announcement Date	2/11/20	2/17/21	2/16/22	2/8/23	2/21/24	-	-	-

¹USD in Million²USD

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	402	443	615	654	-	654	666	681
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	5.188 x	6.766 x	7.498 x	-	7.763 x	7.441 x	7.406 x
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	4.13%	5.75%	7.18%	-2.86%	-	5.05%	7.65%	8.55%
ROA (Net income/ Total Assets)	3.2%	3.63%	4.37%	-1.65%	-	3.24%	3.29%	3.26%
Assets ¹	2,527	639.2	1,560	1,631	-	1,328	1,722	1,937
Book Value Per Share ²	0.8100	0.7800	0.7700	0.6800	-	0.5400	0.5200	0.5300
Cash Flow per Share	0.1100	0.0800	0.0800	0.0700	-	-	-	-
Capex ¹	1,218	176	260	30.1	-	16.2	15	14.6
Capex / Sales	836.54%	122.55%	166.11%	18.47%	-	10.19%	8.9%	8.42%
Announcement Date	2/11/20	2/17/21	2/16/22	2/8/23	2/21/24	-	-	-

¹USD in Million²USD

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

0.112 USD

Average target price

0.2409 USD

Spread / Average Target

+115.10%

	1st Jan change	Capi.
PRIME US REIT	-48.67%	148M
BOSTON PROPERTIES, INC.	-11.80%	9.87B
NIPPON BUILDING FUND INC.	-1.31%	6.51B
DEXUS	-7.29%	4.98B
JAPAN REAL ESTATE INVESTMENT CORPORATION	-8.22%	4.88B
EMBASSY OFFICE PARKS REIT	+10.79%	4.04B
KILROY REALTY CORPORATION	-15.16%	4.04B
KDX REALTY INVESTMENT CORPORATION	-3.05%	4.04B
SL GREEN REALTY CORP.	+10.32%	3.34B
INMOBILIARIA COLONIAL SOCIMI, S.A.	-16.11%	3.18B