ESR-LOGOS REIT (CGIUF) vs. Its Peers Critical Review

Profitability

This table compares ESR-LOGOS REIT and its peers’ net margins, return on equity and return on assets.

	Net Margins	Return on Equity	Return on Assets
ESR-LOGOS REIT	N/A	N/A	N/A
ESR-LOGOS REIT Competitors	39.14%	5.36%	2.52%

Dividends

ESR-LOGOS REIT pays an annual dividend of C$0.05 per share and has a dividend yield of 2.8%. ESR-LOGOS REIT pays out 123.0% of its earnings in the form of a dividend, suggesting it may not have sufficient earnings to cover its dividend payment in the future. As a group, “Industrial REITs” companies pay a dividend yield of 4.3% and pay out 89.9% of their earnings in the form of a dividend. ESR-LOGOS REIT lags its peers as a dividend stock, given its lower dividend yield and higher payout ratio.

Earnings and Valuation

This table compares ESR-LOGOS REIT and its peers top-line revenue, earnings per share (EPS) and valuation.

	Gross Revenue	Net Income	Price/Earnings Ratio
ESR-LOGOS REIT	N/A	N/A	43.53
ESR-LOGOS REIT Competitors	$1.01 billion	$263.98 million	50.44

ESR-LOGOS REIT’s peers have higher revenue and earnings than ESR-LOGOS REIT. ESR-LOGOS REIT is trading at a lower price-to-earnings ratio than its peers, indicating that it is currently more affordable than other companies in its industry.

Insider & Institutional Ownership

10.4% of ESR-LOGOS REIT shares are owned by institutional investors. Comparatively, 61.7% of shares of all “Industrial REITs” companies are owned by institutional investors. 5.6% of shares of all “Industrial REITs” companies are owned by insiders. Strong institutional ownership is an indication that endowments, hedge funds and large money managers believe a stock will outperform the market over the long term.

Summary

ESR-LOGOS REIT peers beat ESR-LOGOS REIT on 9 of the 9 factors compared.

ESR-LOGOS REIT Company Profile

ESR-LOGOS REIT is a leading New Economy and future-ready Asia Pacific S-REIT. Listed on the Singapore Exchange Securities Trading Limited since 25 July 2006, ESR-LOGOS REIT invests in quality income-producing industrial properties in key gateway markets. As at 31 December 2023, ESR-LOGOS REIT holds interests in a diversified portfolio of logistics properties, high-specifications industrial properties, business parks and general industrial properties with total assets of approximately S$5.1 billion. Its portfolio comprises 72 properties (excluding 48 Pandan Road held through a joint venture) located across the developed markets of Singapore (52 assets), Australia (19 assets) and Japan (1 asset), with a total gross floor area of approximately 2.1 million sqm, as well as investments in three property funds in Australia. ESR-LOGOS REIT is also a constituent of the FTSE EPRA Nareit Global Real Estate Index. ESR-LOGOS REIT is managed by ESR-LOGOS Funds Management (S) Limited (the Manager) and sponsored by ESR Group Limited (ESR). The Manager is owned by ESR (99.0%) and Shanghai Summit Pte. Ltd. (1.0%), respectively.