Suntec Real Estate Investment Trust (T82U) Fair Value & Analysis
Real Estate · SG · Market cap 4.3B SGD (≈ $3.4B) · ISIN SG1Q52922370
What is Suntec Real Estate Investment Trust really worth?
A solid business, but trading 43% above our fair value of 1.02 SGD.
Strengths
Risks
For context
Fair value as of: Aug 22, 2026
From 14 valuation models · updated 14 days ago
Share price −2.0% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
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.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 22, 2026.
How to read this chart
60‑month range 0.9211 SGD – 1.56 SGD · fair‑value band 0.7700 SGD – 1.02 SGD · the 1.46 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 Aug 22, 2026.
Analysis
Suntec Real Estate Investment Trust (T82U) currently trades at 1.46 SGD, while our model-based Fair Value estimate is 1.02 SGD, implying the stock looks roughly 43.1% overvalued today. The Quality Score stands at 65/100 (solid quality), in the Real Estate sector. Bull case: the Economic Profit group reads highest at a median of 1.47 SGD per share, and 1 of the 7 models we run sit above the 1.46 SGD price. Bear case: the Multiples group reads lowest at 0.5700 SGD, and 6 of the 7 models stay below the price. Evidence for this calculation is 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 22, 2026
Our scenario range runs from 0.7700 SGD (bear case) to 1.02 SGD (bull case); at 1.46 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 5% below its 52-week high and 39% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at −49% fair-value upside, at −30%, T82U screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.
All 14 models by family
Widest divergence: Economic Profit (1.47 SGD) versus DCF Models (0.0700 SGD). Highest evidence: FCF DCF (77).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 22, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 62 · Market factors (momentum, volatility) 68
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.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
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.
T82U screens 43% overvalued. Compare with Goodman Group →
Peer Group
REIT - Diversified · 152 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 - Diversified median · lower = cheaper
Strength profile in five axes (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.
Similar stocks
10 more REIT - Diversified stocks, each showing price versus our Fair Value estimate (as of Aug 22, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Goodman Group GMG | A$27.55 | A$7.37 | −73% |
| VICI Properties Inc VICI | $25.87 | $40.82 | +58% |
| W. P. Carey Inc WPC | $70.51 | $34.80 | −51% |
| Charter Hall Group CHC | A$21.90 | A$10.99 | −50% |
| Stockland SGP | A$4.59 | A$3.70 | −19% |
| The GPT Group GPT | A$4.61 | A$3.49 | −24% |
| Mirvac Group MGR | A$1.85 | A$0.5700 | −69% |
| Broadstone Net Lease, Inc BNL | $21.55 | $10.91 | −49% |
| KLCC Property Holdings 5235SS | 8.60 MYR | 6.66 MYR | −23% |
| CRRUN CRRUN | C$16.67 | C$7.03 | −58% |
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