OUE Commercial Real Estate Investment Trust (TS0U) Fair Value & Analysis
Real Estate · SG · Market cap 2.0B SGD
Fair value as of: Aug 13, 2026
From 16 valuation models · updated 4 days ago
Share price −4.1% over the past month.
A solid business, but screening 60% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (0.2600 SGD). The favourable scenario is already priced in.
- The model range is unusually wide (0.0700 SGD to 0.2600 SGD). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- Solid but not exceptional quality (64/100) 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.
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
60‑month range 0.1719 SGD – 0.3800 SGD · fair‑value band 0.0700 SGD – 0.2600 SGD · the 0.3500 SGD price screens above the 0.1400 SGD fair value. Dashed = 300-day average. As of Aug 13, 2026.
Analysis
OUE Commercial Real Estate Investment Trust (TS0U) currently trades at 0.3500 SGD, while our model-based Fair Value estimate is 0.1400 SGD, implying the stock looks roughly 60.0% overvalued today. The Quality Score stands at 64/100 (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, OUE Commercial Real Estate Investment Trust generated revenue of 280M SGD at a net margin of 10.2%. Revenue declined 18.4% year over year. It earns a return on equity of 1.0%. Net debt stands at 1.7B SGD. Fundamentals as of Aug 13, 2026
Our scenario range runs from 0.0700 SGD (bear case) to 0.2600 SGD (bull case); at 0.3500 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 7% below its 52-week high and 27% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -22% fair-value upside, at -60%, TS0U 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.
All 16 models by family
Widest divergence: Asset-Based (0.4000 SGD) versus Multiples (0.0900 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 62 · Market factors (momentum, volatility) 63
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
OUE Real Estate Investment Trust (OUE REIT), formerly known as OUE Commercial Real Estate Investment Trust, is one of the largest diversified Singapore REITs (S-REITs) with total assets under management of S6.1 billion dollars.
Full company description
OUE Real Estate Investment Trust (OUE REIT), formerly known as OUE Commercial Real Estate Investment Trust, is one of the largest diversified Singapore REITs (S-REITs) with total assets under management of S6.1 billion dollars. OUE REIT aims to deliver stable distributions and provide sustainable long-term growth in return to holders of units (Unitholders) by investing in income-producing real estate used primarily for hospitality, retail and/or office purposes in financial and business hubs, as well as real estate-related assets. OUE REIT's portfolio comprises six high-quality office, hospitality and retail assets located in Singapore. Its three office assets - OUE Bayfront, One Raffles Place and OUE Downtown Office - are situated within the Central Business District, with a total Net Lettable Area (NLA) of approximately 1.7 million square feet (sq ft). OUE REIT's two hotels, Hilton Singapore Orchard and Crowne Plaza Changi Airport, are strategically located along the prime Orchard Road belt and within the Changi Airport vicinity, offering a total of 1,655 upper upscale hotel rooms. Complementing Hilton Singapore Orchard is Mandarin Gallery, a 126,283 sq ft high-end retail mall that has been a preferred destination for international brands in the heart of Orchard Road. The latest addition to OUE REIT's portfolio is 180 George Street (also known as Salesforce Tower), Sydney a premium-grade commercial asset in which OUE REIT holds a 19.9% interest. Comprising 666,437 sq ft of NLA, 180 George Street is strategically situated in Circular Quay, one of Sydney's key corporate and cultural precincts. As Sydney's tallest office tower, 180 George Street is a landmark asset that strengthens the portfolio's exposure to high-quality office real estate in a prime gateway city. Listed on the Main Board of the Singapore Exchange Securities Trading Limited since 27 January 2014, OUE REIT is managed by OUE REIT Management Pte. Ltd. (the Manager), a wholly owned subsidiary of OUE Limited (the Sponsor). The Sponsor is a leading rea
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
OUE Commercial Real Estate Investment Trust reported revenue of 274M SGD in FY2025 versus 250M SGD in FY2021, a compound +2.3%/yr. Reported net income was 28.5M SGD in FY2025, compounding −7.5%/yr from FY2021.
TS0U screens 60% overvalued. Compare with MERLIN Properties SOCIMI, S.A →
Peer Group
REIT - Office · 71 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 - Office 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.
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.
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 - Office stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| MERLIN Properties SOCIMI, S.A MRL | €15.23 | €5.66 | -63% |
| BXP, Inc BXP | $67.95 | $53.27 | -22% |
| Vornado Realty Trust VNORP | $51.00 | $40.45 | -21% |
| Alexandria Real Estate Equities, Inc ARE | $48.06 | $58.69 | +22% |
| Hudson Pacific Properties, Inc HPP | $14.31 | $4.28 | -70% |
| Mapletree Pan Asia Commercial Trust N2IU | 1.27 SGD | 1.14 SGD | -10% |
| Cousins Properties Incorporated CUZ | $29.49 | $17.46 | -41% |
| Kilroy Realty Corporation KRC | $36.24 | $40.37 | +11% |
| Keppel DC REIT AJBU | 2.21 SGD | 1.68 SGD | -24% |
| DEXUS DXS | A$5.96 | A$4.49 | -25% |
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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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