Valuation The Link Real Estate Investment Trust

Equities

Market Closed - Hong Kong S.E. Other stock markets 03:08:19 2025-01-24 am EST			5-day change	1st Jan Change
32.00 ^HKD	+0.31%		0.00%	-2.59%

Dec. 16	S&P Affirms Link REIT at A on Solid Market Position	MT
Dec. 09	Link Real Estate Investment Trust commences an Equity Buyback Plan for 255,384,511 shares, representing 10% of its issued share capital, under the authorization approved on July 31, 2024.	CI

Data adjusted to current consolidation scope

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Capitalization ¹	135,204	147,396	141,383	128,969	85,937	82,378	-	-
Change	-	9.02%	-4.08%	-8.78%	-33.37%	-4.14%	-	-
Enterprise Value (EV) ¹	161,925	183,502	192,726	176,543	135,199	133,884	134,722	135,738
Change	-	13.33%	5.03%	-8.4%	-23.42%	-0.97%	0.63%	0.75%
P/E ratio	-8.04x	124x	20.5x	7.3x	-43.7x	11.9x	11.7x	11.5x
PBR	0.85x	0.93x	0.87x	0.68x	0.48x	0.47x	0.47x	0.46x
PEG	-	-1x	0x	0x	0x	-0x	5.21x	8.88x
Capitalization / Revenue	12.6x	13.7x	12.2x	10.5x	6.33x	5.8x	5.73x	5.63x
EV / Revenue	15.1x	17.1x	16.6x	14.4x	9.96x	9.43x	9.37x	9.28x
EV / EBITDA	20.6x	23.2x	23.1x	20.4x	14.4x	13.8x	13.8x	13.8x
EV / EBIT	20.7x	23.5x	23.3x	20.7x	14.5x	13.8x	13.7x	13.6x
EV / FCF	32.5x	33.8x	33.2x	25.9x	18.2x	13.8x	16.1x	16.1x
FCF Yield	3.08%	2.96%	3.02%	3.86%	5.49%	7.23%	6.23%	6.19%
Dividend per Share ²	2.872	2.9	3.057	2.743	2.626	2.663	2.7	2.739
Rate of return	4.37%	4.1%	4.56%	5.43%	7.81%	8.35%	8.46%	8.59%
EPS ²	-8.17	0.57	3.27	6.92	-0.77	2.672	2.732	2.767
Distribution rate	-35.2%	509%	93.5%	39.6%	-341%	99.7%	98.8%	99%
Net sales ¹	10,718	10,744	11,602	12,234	13,578	14,193	14,381	14,630
EBITDA ¹	7,879	7,901	8,348	8,639	9,398	9,730	9,797	9,810
EBIT ¹	7,804	7,810	8,264	8,545	9,304	9,722	9,836	10,004
Net income ¹	-17,122	1,185	6,894	15,451	-1,983	6,828	7,052	7,077
Net Debt ¹	26,721	36,106	51,343	47,574	49,262	51,506	52,343	53,360
Reference price ²	65.70	70.80	67.00	50.50	33.65	31.90	31.90	31.90
Nbr of stocks (in thousands)	2,057,898	2,081,863	2,110,194	2,553,845	2,553,845	2,582,396	-	-
Announcement Date	6/1/20	6/17/21	6/1/22	5/31/23	5/29/24	-	-	-

¹HKD in Million²HKD

Estimates

Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E ratio	EV / Sales	EV / EBITDA	Yield	Capi. ($)
THE LINK REAL ESTATE INVESTMENT TRUST	11.94x	9.43x	13.76x	+8.35%	10.58B
SIMON PROPERTY GROUP, INC.	25.85x	15.18x	19.01x	+4.63%	57.05B
KIMCO REALTY CORPORATION	44.22x	11.5x	16.87x	+4.28%	15.29B
REGENCY CENTERS CORPORATION	33.44x	12.35x	17.93x	+3.79%	12.87B
BRIXMOR PROPERTY GROUP INC.	24.96x	10.08x	15.09x	+4.21%	7.93B
NNN REIT, INC.	18.84x	13.65x	14.76x	+5.81%	7.43B
AGREE REALTY CORPORATION	39.87x	16.6x	20.14x	+4.20%	7.38B
VICINITY CENTRES	14.62x	15.11x	16.59x	+5.62%	6.12B
KITE REALTY GROUP TRUST	-3545.73x	9.86x	14.23x	+4.34%	5.2B
THE MACERICH COMPANY	192.13x	10.93x	15.31x	+3.38%	4.94B
Average	-313.99x	12.47x	16.37x	+4.86%	13.48B
Weighted average by Cap.	-104.18x	13.37x	17.42x	+4.81%