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Ascott Residence Trust (SGX:HMN) Investors Are Sitting on a Loss of 8.7% If They Invested Three Years Ago
Ascott Residence Trust (SGX:HMN) Investors Are Sitting on a Loss of 8.7% If They Invested Three Years Ago
In order to justify the effort of selecting individual stocks, it's worth striving to beat the returns from a market index fund. But the risk of stock picking is that you will likely buy under-performing companies. Unfortunately, that's been the case for longer term Ascott Residence Trust (SGX:HMN) shareholders, since the share price is down 18% in the last three years, falling well short of the market decline of around 4.7%.
Now let's have a look at the company's fundamentals, and see if the long term shareholder return has matched the performance of the underlying business.
View our latest analysis for Ascott Residence Trust
In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement.
During five years of share price growth, Ascott Residence Trust moved from a loss to profitability. We would usually expect to see the share price rise as a result. So given the share price is down it's worth checking some other metrics too.
It's quite likely that the declining dividend has caused some investors to sell their shares, pushing the price lower in the process. This situation was no doubt compounded by the fact revenue is down 9.4% per year over three years.
The company's revenue and earnings (over time) are depicted in the image below (click to see the exact numbers).
SGX:HMN Earnings and Revenue Growth September 20th 2022Ascott Residence Trust is a well known stock, with plenty of analyst coverage, suggesting some visibility into future growth. Given we have quite a good number of analyst forecasts, it might be well worth checking out this free chart depicting consensus estimates.
What About Dividends?
When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. The TSR is a return calculation that accounts for the value of cash dividends (assuming that any dividend received was reinvested) and the calculated value of any discounted capital raisings and spin-offs. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. In the case of Ascott Residence Trust, it has a TSR of -8.7% for the last 3 years. That exceeds its share price return that we previously mentioned. The dividends paid by the company have thusly boosted the total shareholder return.
A Different Perspective
It's nice to see that Ascott Residence Trust shareholders have received a total shareholder return of 19% over the last year. Of course, that includes the dividend. That's better than the annualised return of 3% over half a decade, implying that the company is doing better recently. Someone with an optimistic perspective could view the recent improvement in TSR as indicating that the business itself is getting better with time. While it is well worth considering the different impacts that market conditions can have on the share price, there are other factors that are even more important. For instance, we've identified 4 warning signs for Ascott Residence Trust (1 is a bit concerning) that you should be aware of.
If you are like me, then you will not want to miss this free list of growing companies that insiders are buying.
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on SG exchanges.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
爲了證明選擇個股的努力是合理的,值得努力超過市場指數基金的回報。但是選股的風險在於,你可能會收購表現不佳的公司。不幸的是,從長遠來看,情況一直如此 雅詩閣公寓信託基金 (SGX: HMN) 的股東們,由於股價在過去三年中下跌了18%,遠低於市場4.7%左右的跌幅。
現在讓我們來看看公司的基本面,看看長期股東回報是否與基礎業務的表現相匹配。
查看我們對雅詩閣公寓信託基金的最新分析
在他的文章中 格雷厄姆和多茲維爾的超級投資者 沃倫·巴菲特描述了股價如何並不總是合理地反映企業的價值。考慮市場對公司的看法發生了怎樣的變化的一種不完美但簡單的方法是將每股收益(EPS)的變化與股價走勢進行比較。
在五年的股價上漲中,雅詩閣公寓信託從虧損轉爲盈利。我們通常預計股價會因此上漲。因此,鑑於股價下跌,也值得查看其他一些指標。
股息下降很可能導致一些投資者出售股票,在此過程中推低了價格。毫無疑問,收入在三年內每年下降9.4%,這加劇了這種情況。
公司的收入和收益(隨着時間的推移)如下圖所示(點擊查看確切數字)。
新加坡交易所:HMN 2022 年 9 月 20 日的收益和收入增長Ascott Residence Trust是一隻知名股票,擁有大量分析師報道,這表明未來增長有一定的可見度。鑑於我們有相當多的分析師預測,可能值得一試 免費的 描述共識估計值的圖表。
那股息呢?
在考慮投資回報時,重要的是要考慮兩者之間的區別 股東總回報 (TSR) 和 股價回報。TSR是一種回報計算方法,它考慮了現金分紅的價值(假設收到的任何股息都進行了再投資)以及任何貼現資本籌集和分拆的計算價值。可以公平地說,TSR更全面地描繪了支付股息的股票。就雅詩閣公寓信託而言,其過去 3 年的總回報率爲 -8.7%。這超過了我們之前提到的股價回報率。因此,該公司支付的股息推動了 總 股東回報。
不同的視角
很高興看到雅詩閣住宅信託的股東在去年獲得了19%的股東總回報。當然,這包括股息。這比五年來3%的年化回報率要好,這意味着該公司最近的表現好多了。持樂觀態度的人可能會將最近TSR的改善視爲業務本身隨着時間的推移而變得越來越好。儘管值得考慮市場狀況可能對股價產生的不同影響,但還有其他因素更爲重要。例如,我們已經確定了 雅詩閣公寓信託基金的 4 個警告信號 (1 有點令人擔憂),你應該注意。
如果你和我一樣,那麼你會 不 想錯過這個 免費的 內部人士正在收購的成長型公司名單。
請注意,本文引用的市場回報反映了目前在新加坡交易所交易的股票的市場加權平均回報。
對這篇文章有反饋嗎?對內容感到擔憂? 取得聯繫 直接和我們聯繫。 或者,給編輯團隊 (at) simplywallst.com 發送電子郵件。
Simply Wall St 的這篇文章本質上是一般性的。 我們僅使用公正的方法提供基於歷史數據和分析師預測的評論,我們的文章無意提供財務建議。 它不構成買入或賣出任何股票的建議,也沒有考慮您的目標或財務狀況。我們的目標是爲您提供由基本面數據驅動的長期重點分析。請注意,我們的分析可能未將最新的價格敏感型公司公告或定性材料考慮在內。簡而言之,華爾街對上述任何股票都沒有頭寸。
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moomoo是Moomoo Technologies Inc.公司提供的金融資訊和交易應用程式。
在美國,moomoo上的投資產品和服務由Moomoo Financial Inc.提供,一家受美國證券交易委員會(SEC)監管的持牌主體。 Moomoo Financial Inc.是金融業監管局(FINRA)和證券投資者保護公司(SIPC)的成員。
在新加坡,moomoo上的投資產品和服務是通過Moomoo Financial Singapore Pte. Ltd.提供,該公司受新加坡金融管理局(MAS)監管(牌照號碼︰CMS101000) ,持有資本市場服務牌照 (CMS) ,持有財務顧問豁免(Exempt Financial Adviser)資質。本內容未經新加坡金融管理局的審查。
在澳大利亞,moomoo上的金融產品和服務是通過Futu Securities (Australia) Ltd提供,該公司是受澳大利亞證券和投資委員會(ASIC)監管的澳大利亞金融服務許可機構(AFSL No. 224663)。請閱讀並理解我們的《金融服務指南》、《條款與條件》、《隱私政策》和其他披露文件,這些文件可在我們的網站 https://www.moomoo.com/au中獲取。
在加拿大,透過moomoo應用程式提供的僅限訂單執行的券商服務由Moomoo Financial Canada Inc.提供,並受加拿大投資監管機構(CIRO)監管。
在馬來西亞,moomoo上的投資產品和服務是透過Moomoo Securities Malaysia Sdn. Bhd. 提供,該公司受馬來西亞證券監督委員會(SC)監管(牌照號碼︰eCMSL/A0397/2024) ,持有資本市場服務牌照 (CMSL) 。本內容未經馬來西亞證券監督委員會的審查。
Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd.,Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc和Moomoo Securities Malaysia Sdn. Bhd., 是關聯公司。
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