Suntec Real Estate Investment Trust (T82U) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Suntec Real Estate Investment Trust S$1.02, price S$1.34, upside -23.9%, quality 66 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 29, 2026.
How to read this chart
60‑month range 0.9090 SGD – 1.56 SGD · fair‑value band 0.7700 SGD – 1.02 SGD · the 1.34 SGD price screens above the 1.02 SGD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 29, 2026.
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Suntec Real Estate Investment Trust holds properties in Suntec City.
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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.
Stock analysis
Suntec Real Estate Investment Trust (T82U) currently trades at 1.34 SGD, while our model-based Fair Value estimate is 1.02 SGD, 23.9% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of 1.48 SGD per share, and 2 of the 12 models we run sit above the 1.34 SGD price.
Bear case: the DCF Models group reads lowest at 0.2600 SGD, and 10 of the 12 models stay below the price. Evidence for this calculation is high.
Scenario range: 0.7700 SGD (bear) to 1.02 SGD (bull), the price of 1.34 SGD sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 66/100 (solid quality), in the Real Estate sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
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.
Key figures
Market cap 3.9B SGD (≈ $3.1B) · P/E ratio 13.4 · P/S ratio 5.06 · EPS (TTM) 0.1000 SGD · Dividend yield 4.9% · Net margin 37.7% · Return on equity 5.1% · Return on assets (EBIT) 2.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 14% below its 52-week high and 9% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −3% fair-value upside, at −24%, T82U screens richer than that median.
Fair Value models
Bear 0.7700 SGDFair Value 1.02 SGDBull 1.02 SGD
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (0.0266 SGD per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.82/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+1.7%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+3.3%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+8.4%
Start year 2020 (pandemic). Over 10 years: +3.7% a year
Revenue growth 12 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+1.3%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−12.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−17.0%
Dividend (yield on the price)4.9%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−17.0% vs −4.5%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−37% → 53%
Start year 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+14.0%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+2.4%
Yearly sales growth analysts expect, extended to five years.
After inflation (Singapore: IMF forecast 2.0% a year to 2030, 1.7% from 2016 to 2025) that is about +11.7% a year for the price and +0.3% for the forecasts.
Compare Suntec Real Estate Investment Trust with another stock
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.REIT - Diversified · 152 stocks
Beats the industry median on 6/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score67 · Top 25%
Fair Value upside−23.9% · Below median
Profitability
Return on equity (TTM)5.1% · Above median
Return on assets2.2% · Below median
Net margin (TTM)54.0% · Above median
Operating margin (TTM)60.5% · Above median
Growth and dividend
Revenue growth3.5% · Above median
Dividend yield (TTM)4.9% · Below median
Balance sheet
Debt / equity0.62× · Above median
Valuation Multiplesvs REIT - Diversified median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Suntec Real Estate Investment Trust Fair Value". https://www.fairvalue-calculator.com/stock/T82U
Frequently asked questions
Is Suntec Real Estate Investment Trust (T82U) overvalued or undervalued?
As of Sep 29, 2026, our model estimates a fair value of 1.02 SGD versus a price of 1.34 SGD, about −24% upside (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 Sep 29, 2026), built from audited fundamentals. The current price: 1.34 SGD.
What is the quality score of T82U?
Suntec Real Estate Investment Trust has a Quality Score of 66/100. 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 price target for Suntec Real Estate Investment Trust (T82U)?
Our model-based price target is the fair value of 1.02 SGD (as of Sep 29, 2026) from 14 valuation models. Cautious scenario 0.7700 SGD, optimistic scenario 1.02 SGD. It is a calculation from audited fundamentals, not an analyst target.
What is the Suntec Real Estate Investment Trust stock forecast for 2026?
Our models put fair value at 1.02 SGD, about −24% upside versus a price of 1.34 SGD (overvalued). Cautious scenario 0.7700 SGD, optimistic scenario 1.02 SGD. The calculation is refreshed regularly with new filings.
What is the revenue of Suntec Real Estate Investment Trust (T82U)?
Suntec Real Estate Investment Trust reported trailing-twelve-month revenue of about 609M SGD (latest available figure, as of Sep 29, 2026).
Does Suntec Real Estate Investment Trust pay a dividend?
Suntec Real Estate Investment Trust currently shows a dividend yield of about 4.85% relative to its recent price (as of Sep 29, 2026).
What growth is priced into Suntec Real Estate Investment Trust (T82U)?
For today's price to be fair in a discounted-cash-flow model, Suntec Real Estate Investment Trust would have to grow free cash flow by +14.0 % per year for five years (discount rate 8.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +8.4 % per year. As of Sep 29, 2026.
What discount rate (WACC) does the fair value of T82U use?
Our models discount Suntec Real Estate Investment Trust at 8.3 %: a base by market capitalisation (mid), damped by beta 0.26, country premium for Singapore. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Suntec Real Estate Investment Trust that is +14.0 % per year a year over ten years, using the same discount rate (8.3 %) and the same formula as our fair value.
How much growth has Suntec Real Estate Investment Trust (T82U) delivered so far?
Over the past 5 years revenue at Suntec Real Estate Investment Trust grew +8.4 % a year. The price currently implies +14.0 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Suntec Real Estate Investment Trust (T82U) growing?
The median revenue growth in the sector is +2.2 % a year. That is the yardstick for the growth priced into Suntec Real Estate Investment Trust (+14.0 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Suntec Real Estate Investment Trust (T82U)?
The free-cash-flow yield on the price is 6.22 %: that much free cash flow Suntec Real Estate Investment Trust produces per unit of market value. When it exceeds the discount rate of our models (8.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Suntec Real Estate Investment Trust (T82U)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Suntec Real Estate Investment Trust it is 1.02 SGD per share (as of Sep 29, 2026), against a price of 1.34 SGD. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Suntec Real Estate Investment Trust stock overvalued or undervalued in 2026?
As of Sep 29, 2026, T82U trades above its calculated fair value: price 1.34 SGD, fair value 1.02 SGD, a gap of about −24% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of T82U?
No. The price is what the market pays today (1.34 SGD); the fair value is what the company's own numbers justify (1.02 SGD). For Suntec Real Estate Investment Trust the two are 0.3200 SGD per share apart. That gap is exactly why we show both numbers side by side.
How much is Suntec Real Estate Investment Trust worth?
The market values Suntec Real Estate Investment Trust at about 3.9B SGD (market capitalisation, as of Sep 29, 2026). Per share that is 1.34 SGD; our models calculate a fair value of 1.02 SGD per share.
What do the bullish and bearish scenarios say about T82U?
Our models span a range for Suntec Real Estate Investment Trust: cautious scenario 0.7700 SGD, base 1.02 SGD, optimistic 1.02 SGD per share (as of Sep 29, 2026, price 1.34 SGD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of T82U?
Suntec Real Estate Investment Trust trades at a price-to-earnings ratio of 13.4 (as of Sep 29, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 1.02 SGD is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 25.7 (reported for FY2025: 22.2). Other multiples: PEG 7.4, P/B 0.6, P/S 6.5, EV/EBITDA 20.1.
What is the PEG ratio of T82U?
The PEG ratio of Suntec Real Estate Investment Trust is 7.36 (P/E divided by earnings growth, as of Sep 29, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Suntec Real Estate Investment Trust (T82U)?
Balance-sheet figures for Suntec Real Estate Investment Trust (as of Sep 29, 2026): return on equity 5.1%, debt of 0.62 per unit of equity. They feed the Quality Score of 66/100, which measures business quality independently of the share price.
How far is T82U from its 52-week high?
Suntec Real Estate Investment Trust trades at 1.34 SGD, about 14% below its 52-week high of 1.56 SGD and 9% above the low of 1.23 SGD (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of 1.02 SGD is for.
Which stocks are comparable to Suntec Real Estate Investment Trust?
From the same area (Real Estate) we also value Goodman Group, VICI Properties Inc, W. P. Carey Inc, Stockland, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Suntec Real Estate Investment Trust stock attractive at the current price?
The data as of Sep 29, 2026: price 1.34 SGD, calculated fair value 1.02 SGD (−24%), Quality Score 66/100, from 14 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of T82U calculated?
We run Suntec Real Estate Investment Trust through 14 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 1.02 SGD, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Suntec Real Estate Investment Trust itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Suntec Real Estate Investment Trust (T82U)?
The closing price on Oct 2, 2026 was 1.34 SGD. Our model-based fair value is 1.02 SGD, about −24% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Suntec Real Estate Investment Trust right 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 (66/100) 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.
Key figures of Suntec Real Estate Investment Trust
How large is the market capitalisation of Suntec Real Estate Investment Trust (T82U)?
The market capitalisation of Suntec Real Estate Investment Trust is 3.9B SGD (≈ $3.1B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Suntec Real Estate Investment Trust (T82U)?
The price-to-sales ratio of Suntec Real Estate Investment Trust is 5.06 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Suntec Real Estate Investment Trust (T82U)?
Earnings per share at Suntec Real Estate Investment Trust are 0.1000 SGD (price ÷ EPS = P/E 13.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Suntec Real Estate Investment Trust (T82U)?
The dividend yield of Suntec Real Estate Investment Trust is 4.9% (payout 75.2%, on adjusted earnings, reported 65.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Suntec Real Estate Investment Trust (T82U)?
The net margin of Suntec Real Estate Investment Trust is 37.7% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Suntec Real Estate Investment Trust (T82U)?
The return on equity (ROE) of Suntec Real Estate Investment Trust is 5.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Suntec Real Estate Investment Trust (T82U)?
On an EBIT basis the return on assets of Suntec Real Estate Investment Trust is 2.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Suntec Real Estate Investment Trust (T82U)?
The operating margin of Suntec Real Estate Investment Trust is 60.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Suntec Real Estate Investment Trust (T82U)?
Revenue at Suntec Real Estate Investment Trust is growing +3.5% versus a year earlier (3y avg +3.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Suntec Real Estate Investment Trust (T82U)?
Earnings per share at Suntec Real Estate Investment Trust are growing +561% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Suntec Real Estate Investment Trust (T82U) carry?
The net debt of Suntec Real Estate Investment Trust is 3.9B SGD (fiscal year 2025, ≈ 15.7 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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