Link Real Estate Investment Trust (HKSE:00823) Cyclically Adjusted PB Ratio : 0.46 (As of May. 26, 2024)

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What is Link Real Estate Investment Trust Cyclically Adjusted PB Ratio?

As of today (2024-05-26), Link Real Estate Investment Trust's current share price is HK$33.20. Link Real Estate Investment Trust's Cyclically Adjusted Book per Share for the fiscal year that ended in Mar23 was HK$72.25. Link Real Estate Investment Trust's Cyclically Adjusted PB Ratio for today is 0.46.

The historical rank and industry rank for Link Real Estate Investment Trust's Cyclically Adjusted PB Ratio or its related term are showing as below:

HKSE:00823' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.43 Med: 1.48 Max: 2.03
Current: 0.46

During the past 13 years, Link Real Estate Investment Trust's highest Cyclically Adjusted PB Ratio was 2.03. The lowest was 0.43. And the median was 1.48.

HKSE:00823's Cyclically Adjusted PB Ratio is ranked better than
73.02% of 493 companies
in the REITs industry
Industry Median: 0.76 vs HKSE:00823: 0.46

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.

Link Real Estate Investment Trust's adjusted book value per share data of for the fiscal year that ended in Mar23 was HK$73.983. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is HK$72.25 for the trailing ten years ended in Mar23.

Shiller PE for Stocks: The True Measure of Stock Valuation

Link Real Estate Investment Trust Cyclically Adjusted PB Ratio Historical Data

The historical data trend for Link Real Estate Investment Trust's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Link Real Estate Investment Trust Cyclically Adjusted PB Ratio Chart

Link Real Estate Investment Trust Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Cyclically Adjusted PB Ratio

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1.72

1.10

1.09

0.96

0.70

Link Real Estate Investment Trust Semi-Annual Data
	Mar14	Sep14	Mar15	Sep15	Mar16	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23
Cyclically Adjusted PB Ratio	Get a 7-Day Free Trial															-	0.96	-	0.70	-

Competitive Comparison of Link Real Estate Investment Trust's Cyclically Adjusted PB Ratio

For the REIT - Retail subindustry, Link Real Estate Investment Trust's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Link Real Estate Investment Trust's Cyclically Adjusted PB Ratio Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Link Real Estate Investment Trust's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Link Real Estate Investment Trust's Cyclically Adjusted PB Ratio falls into.

Link Real Estate Investment Trust Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

Link Real Estate Investment Trust's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio	=	Share Price	/	Cyclically Adjusted Book per Share
	=	33.20	/	72.25
	=	0.46

Link Real Estate Investment Trust's Cyclically Adjusted Book per Share for the fiscal year that ended in Mar23 is calculated as:

For example, Link Real Estate Investment Trust's adjusted Book Value per Share data for the fiscal year that ended in Mar23 was:

Adj_Book	=	Book Value per Share	/	CPI of Mar23 (Change)	*	Current CPI (Mar23)
	=	73.983	/	115.4269	*	115.4269
	=	73.983

Current CPI (Mar23) = 115.4269.

Link Real Estate Investment Trust Annual Data

	Book Value per Share	CPI	Adj_Book
201403	40.519	95.749	48.846
201503	50.082	99.927	57.851
201603	55.188	102.785	61.976
201703	60.706	103.335	67.810
201803	80.723	105.973	87.924
201903	86.956	108.172	92.788
202003	75.420	110.920	78.485
202103	74.090	111.579	76.645
202203	74.922	113.558	76.155
202303	73.983	115.427	73.983

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Link Real Estate Investment Trust (HKSE:00823) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.

Link Real Estate Investment Trust Cyclically Adjusted PB Ratio Related Terms

Thank you for viewing the detailed overview of Link Real Estate Investment Trust's Cyclically Adjusted PB Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.

Link Real Estate Investment Trust (HKSE:00823) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Link Real Estate Investment Trust (HKSE:00823) » Definitions » Cyclically Adjusted PB Ratio

Comparable Companies

Traded in Other Exchanges

LKREF:USA L5R:Germany

Address

77 Hoi Bun Road, 20th Floor, Tower 1, The Quayside, Kowloon, Kwun Tong, Hong Kong, HKG

Website

https://www.linkreit.com

Link REIT is Asia's largest REIT, listed in 2005 to privatize retail assets held by the Hong Kong Housing Authority. It owns 154 properties and about 60,000 car park spaces. It expanded its investment mandate in 2014 to allow overseas acquisitions and has since acquired retail and office properties in China, as well as an office development project in Hong Kong. More recently, Link expanded its footprint to Sydney, Melbourne, London, and Singapore.

Executives

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Ubs Group Ag	2201 Interest of corporation controlled by you
State Street Corporation	2102 Investment manager

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