Daiwa House Logistics Trust (DHLU) Fair Value & Analysis
Real Estate · SG · Market cap 340M SGD
Fair value as of: Aug 13, 2026
From 12 valuation models · updated 4 days ago
Share price −11.3% over the past month.
A solid business, screening 35% undervalued on our models.
What matters now
- The price is below even our cautious bear case (0.4900 SGD). The market is more pessimistic than our downside scenario.
- Solid quality (69/100) at a price below fair value, the discount is the argument here, not the business quality.
- As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
57‑month range 0.3937 SGD – 0.6224 SGD · fair‑value band 0.4900 SGD – 0.6000 SGD · the 0.4300 SGD price screens below the 0.5800 SGD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Daiwa House Logistics Trust (DHLU) currently trades at 0.4300 SGD, while our model-based Fair Value estimate is 0.5800 SGD, implying the stock looks roughly 34.9% undervalued today. The Quality Score stands at 69/100 (solid quality), in the Real Estate sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.
Over the trailing twelve months, Daiwa House Logistics Trust generated revenue of 57.8M SGD at a net margin of 61.7%. Revenue declined 3.0% year over year. It earns a return on equity of 7.1%. Net debt stands at 319M SGD. Fundamentals as of Aug 13, 2026
Our scenario range runs from 0.4900 SGD (bear case) to 0.6000 SGD (bull case); at 0.4300 SGD, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 24% below its 52-week high, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -43% fair-value upside, at 35%, DHLU screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 12 models by family
Widest divergence: Economic Profit (0.5700 SGD) versus DCF Models (0.2500 SGD). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 64 · Market factors (momentum, volatility) 38
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Daiwa House Logistics Trust is a Singapore real estate investment trust (REIT) established with the investment strategy of principally investing in a portfolio of income-producing logistics and industrial real estate assets located across Asia.
Full company description
Daiwa House Logistics Trust is a Singapore real estate investment trust (REIT) established with the investment strategy of principally investing in a portfolio of income-producing logistics and industrial real estate assets located across Asia. Its portfolio currently comprises 18 high-quality logistics properties across Japan and one property in Vietnam, with an aggregate net lettable area more than 499,000 sqm. DHLT is managed by Daiwa House Asset Management Asia Pte. Ltd., a wholly owned subsidiary of its Sponsor, Daiwa House Industry Co., Ltd. Daiwa House Logistics Trust was incorporated in Singapore.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2019 – FY2025 · reported fiscal years
Daiwa House Logistics Trust reported revenue of 57.8M SGD in FY2025 versus 58.7M SGD in FY2019, a compound −0.3%/yr. Reported net income was 35.7M SGD in FY2025, compounding +10.5%/yr from FY2019.
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Peer Group
REIT - Industrial · 59 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs REIT - Industrial median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more REIT - Industrial stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Prologis, Inc PLD | $140.73 | $61.28 | -56% |
| Public Storage, a member of the S&P 500, PSA | $323.58 | $162.43 | -50% |
| Extra Space Storage Inc EXR | $149.40 | $78.38 | -48% |
| EastGroup Properties, Inc EGP | $203.45 | $81.41 | -60% |
| Lineage, Inc LINE | $41.50 | $47.91 | +15% |
| CapitaLand Ascendas REIT (CLAR) A17U | 2.44 SGD | 2.00 SGD | -18% |
| CubeSmart CUBE | $41.22 | $25.06 | -39% |
| First Industrial Realty Trust, Inc FR | $63.34 | $20.72 | -67% |
| Rexford Industrial Realty, Inc REXR | $36.39 | $20.69 | -43% |
| STAG Industrial, Inc STAG | $36.94 | $21.64 | -41% |
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Frequently asked questions
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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.
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