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Suntec Real Estate Investment Trust (T82U) Fair Value & Analysis

Real Estate · SG · Market cap 4.3B SGD

SR Suntec Real Estate Investment Trust T82U · SG
Price1.50 SGD
Fair Value1.02 SGD
Upside-32.0%
Quality65/100
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Healthy Growth
Highly profitable · 29.7% net margin
Moderate debt · generates free cash flow
4.86% dividend yield
Mixed vs. peers (6/15)
Moderate moat 64/100
Evidence: High Range 0.7700 SGD – 1.02 SGD Share as image

Fair value as of: Aug 13, 2026

From 14 valuation models · updated 4 days ago

Share price −1.3% over the past month.

A solid business, but screening 32% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (1.02 SGD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (65/100) and above fair value, neither a clear bargain nor a standout compounder.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

1.54 SGD 0.9211 SGD Fair Value 1.02 SGD May 2021 Aug 2026

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

60‑month range 0.9211 SGD – 1.54 SGD · fair‑value band 0.7700 SGD – 1.02 SGD · the 1.50 SGD price screens above the 1.02 SGD fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Suntec Real Estate Investment Trust (T82U) currently trades at 1.50 SGD, while our model-based Fair Value estimate is 1.02 SGD, implying the stock looks roughly 32.0% overvalued today. The Quality Score stands at 65/100 (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: high).

Over the trailing twelve months, Suntec Real Estate Investment Trust generated revenue of 600M SGD at a net margin of 29.7%. Revenue grew 16.5% year over year. It earns a return on equity of 2.8%. Net debt stands at 3.9B SGD. Fundamentals as of Aug 13, 2026

Our scenario range runs from 0.7700 SGD (bear case) to 1.02 SGD (bull case); at 1.50 SGD, the current price sits above 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 2% below its 52-week high and 43% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -23% fair-value upside, at -32%, T82U screens richer 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.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF 0.2500 SGD 80
Residual Income 1.54 SGD 1.47 SGD 1.20 SGD 76
Rev-Margin DCF 0.2100 SGD 74
All 14 models by family
DCF Models
FCF DCF 0.2800 SGD 38
5Y Revenue Exit 0.2600 SGD 39
5Y EBITDA Exit 0.0700 SGD 0.5700 SGD 41
10Y Revenue Exit 0.1600 SGD 36
10Y EBITDA Exit 0.3800 SGD 37
Multiples
P/S Multiple 0.7700 SGD 1.02 SGD 1.28 SGD 58
P/B Multiple 0.7700 SGD 1.02 SGD 1.28 SGD 55
EV/EBIT 0.1100 SGD 0.5700 SGD 1.04 SGD 53
EV/EBITDA 0.1600 SGD 0.5200 SGD 54
EV/Revenue 0.1500 SGD 43
Asset-Based
NCAV (Graham) 1.08 SGD 1.45 SGD 2.17 SGD 50
Growth DCF
Growth DCF 0.2500 SGD 80
Rev-Margin DCF 0.2100 SGD 74
Economic Profit
Residual Income 1.54 SGD 1.47 SGD 1.20 SGD 76

Widest divergence: Economic Profit (1.47 SGD) versus DCF Models (0.0700 SGD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 600M SGD
Revenue growth (YoY) +16.5%
Net margin 29.7%
Return on equity 2.8%
Free cash flow 246M SGD FY2025
P/E ratio 30.0
More key figures
Operating margin 64.5%
EPS (TTM) 0.0500 SGD
Dividend yield 4.9%
EPS growth (YoY) +561%
Net debt 3.9B SGD FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 65/100

Of which business quality 62 · Market factors (momentum, volatility) 72

Profitability 31
Margins and returns on capital today
Quality Growth 52
Are margins and returns improving?
Cashflow 90
Earnings quality: real cash, not paper profit
Fin. Strength 43
Balance sheet, leverage, solvency risk
Investment 95
Disciplined investing over empire-building
Low Volatility 95
Calm price path (market factor)
Momentum 53
Price trend over the last 3–12 months (market factor)
52W Momentum 77
Distance to the 52-week high (market factor)
Net Issuance 74
Buybacks instead of dilution

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

Suntec Real Estate Investment Trust holds properties in Suntec City. It is Singapore's largest integrated commercial development (including one of Singapore largest shopping malls), a 66.3% interest in the Suntec Singapore Convention & Exhibition Centre, a one third interest in One Raffles Quay, and a one third interest in Marina Bay Financial Centre Towers …

Full company description

Suntec Real Estate Investment Trust holds properties in Suntec City. It is Singapore's largest integrated commercial development (including one of Singapore largest shopping malls), a 66.3% interest in the Suntec Singapore Convention & Exhibition Centre, a one third interest in One Raffles Quay, and a one third interest in Marina Bay Financial Centre Towers 1 and 2 and the Marina Bay Link Mall; Suntec REIT also holds a 100% interest in a commercial building located at 177 Pacific Highway, Sydney, a 100% interest in a commercial building located at 21 Harris Street, Pyrmont, Sydney, a 50.0% interest in the Southgate Complex, Melbourne, a 50.0% interest in a commercial building in Olderfleet 477 Collins Street, Melbourne, and a 100% interest in a commercial building located at 55 Currie Street, Adelaide, Australia, and further holds a 50.0% interest in Nova Properties and a 100% interest in The Minster Building, both located in London, United Kingdom; Suntec REIT is managed by an external manager, ESR Trust Management (Suntec) Limited (formerly known as ARA Trust Management (Suntec) Limited). Suntec Real Estate Investment Trust was incorporated on November 1st, 2004 in Singapore.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Suntec Real Estate Investment Trust reported revenue of 472M SGD in FY2025 versus 358M SGD in FY2021, a compound +7.1%/yr. Reported net income was 178M SGD in FY2025, compounding −21.8%/yr from FY2021.

Growth Quality 82/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
472M SGD
Latest YoY
+1.7%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+3.3%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+8.4%
Avg. growth/yr (12Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+1.3%
Revenue +7.1%/yr
FY21 358M SGD
FY22 427M SGD
FY23 463M SGD
FY24 464M SGD
FY25 472M SGD
Net income −21.8%/yr
FY21 476M SGD
FY22 477M SGD
FY23 185M SGD
FY24 127M SGD
FY25 178M SGD

T82U screens 32% overvalued. Compare with Goodman Group →

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Cite: Fair Value Calculator (2026). "Suntec Real Estate Investment Trust Fair Value". https://www.fairvalue-calculator.com/stock/T82U

Peer Group

REIT - Diversified · 169 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.

Quality Score 66 · Top 25%
Fair Value upside −32% · Below median
Return on equity (TTM) 3% · Below median
Return on assets 2% · Above median
Net margin (TTM) 30% · Above median
Operating margin (TTM) 65% · Above median
Revenue growth 17% · Top 25%
Dividend yield (TTM) 4.9% · Below median
Debt / equity 0.62× · Higher than median

Valuation Multiples vs REIT - Diversified median · lower = cheaper

P/E (TTM) 30.0× · Pricier than 75% of peers
P/B 0.53× · Cheaper than median
P/S (TTM) 5.63× · Pricier than median
P/FCF 13.8× · Pricier than median
EV/EBITDA 18.9× · Pricier than median
PEG 3.12× · Pricier than median

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.

VALUE 0 · sector 5
FUTURE 83 · sector 13
PAST 11 · sector 18
HEALTH 69 · sector 73
DIVIDEND 97 · sector 100

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

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 - Diversified stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Goodman Group GMG A$30.05 A$7.37 -75%
VICI Properties Inc VICI $26.07 $41.74 +60%
W. P. Carey Inc WPC $70.69 $34.80 -51%
Charter Hall Group CHC A$23.56 A$10.99 -53%
Stockland SGP A$4.27 A$3.70 -13%
Fibra Uno FUNO11 31.10 MXN 54.87 MXN +76%
The GPT Group GPT A$5.19 A$3.49 -33%
Mirvac Group MGR A$1.77 A$0.5700 -68%
KLCC Property Holdings 5235SS 8.70 MYR 6.66 MYR -23%
Fibra Danhos DANHOS13 28.26 MXN 49.89 MXN +77%

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Frequently asked questions

Is Suntec Real Estate Investment Trust (T82U) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 1.02 SGD versus a price of 1.50 SGD, about −32% (overvalued).
What is the fair value of T82U?
Our model-based fair value for Suntec Real Estate Investment Trust is 1.02 SGD (as of Aug 13, 2026), built from audited fundamentals. The current price is 1.50 SGD.
What is the quality score of T82U?
Suntec Real Estate Investment Trust has a Quality Score of 65/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Suntec Real Estate Investment Trust (T82U)?
Suntec Real Estate Investment Trust reported trailing-twelve-month revenue of about 600M SGD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of T82U?
The net profit margin of Suntec Real Estate Investment Trust is about 29.7%, meaning it keeps roughly 29.7% of revenue as net income. Based on the latest reported figures.
Does Suntec Real Estate Investment Trust pay a dividend?
Suntec Real Estate Investment Trust currently shows a dividend yield of about 4.86% relative to its recent price (as of Aug 13, 2026).

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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