BHG Retail REIT (BMGU) Fair Value & Analysis
Real Estate · SG · Market cap 239M SGD
Fair value as of: Jul 4, 2026
From 15 valuation models · updated today
Share price +1.1% over the past month.
Price vs Fair Value (12 months)
12‑month range 0.2583 SGD – 0.4892 SGD · fair‑value band 0.1300 SGD – 0.5700 SGD · the 0.4600 SGD price screens above the 0.3500 SGD fair value. As of Jul 4, 2026.
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BHG Retail REIT (BMGU) currently trades at 0.4600 SGD, while our model-based Fair Value estimate is 0.3500 SGD — implying the stock looks roughly 23.9% overvalued today. We read business quality at 61/100 (solid quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium — the entry price still matters most (evidence: medium).
Over the trailing twelve months, BHG Retail REIT generated revenue of 55.1M SGD at a net margin of -3.3%. Revenue declined 8.8% year over year. It earns a return on equity of 0.3%. Net debt stands at 279M SGD. Fundamentals as of Jul 4, 2026
Key figures & financial health
More key figures
Figures from reported company fundamentals (EODHD) · as of Jul 4, 2026. TTM = trailing twelve months.
About the company
BHG Retail REIT is the first pure-play China Retail REIT sponsored by a leading China integrated retail group. The REIT was listed on the Main Board of the Singapore Exchange Securities Trading Limited on 11 December 2015. The principal investment strategy of BHG Retail REIT is to invest, directly or indirectly, in a diversified portfolio of income-producing real estate which is used primarily for retail purposes (whether either wholly or partially), as well as real estate-related assets in relation to the foregoing, with an initial focus on China. As at 31 December 2025, the REIT's portfolio comprises six retail properties, Beijing Wanliu (60%), Chengdu Konggang, Hefei Mengchenglu, Hefei Changjiangxilu, Xining Huayuan, Dalian Jinsanjiao located in Tier 1, Tier 2 and other cities of significant economic potential in China. The portfolio gross floor area of about 311,691 sqm, has a committed occupancy of 93.4% as at 31 December 2025. As at the latest date of valuation, total …
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
BHG Retail REIT reported revenue of 55.1M SGD in FY2025 versus 70.6M SGD in FY2021, a compound −6.0%/yr. Reported net income was −1.8M SGD in FY2025.
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Similar stocks
6 more REIT - Retail stocks, each showing price versus our Fair Value estimate (as of Jul 4, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Simon Property Group SPG | $222.15 | $86.11 | -61% |
| Realty Income Corporation O | 1,055 MXN | 547.99 MXN | -48% |
| Unibail-Rodamco-Westfield SE UNBLF | $117.90 | $115.29 | -2% |
| Kimco Realty Corporation KIM | $24.69 | $14.74 | -40% |
| Scentre Group STGPF | $2.73 | $2.40 | -12% |
| CapitaLand Integrated Commercial Trust (CICT or the Trust) CPAMF | $1.86 | $1.06 | -43% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data — nothing guessed.
Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.