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    REIT - Hotel & Motel
Dusit Thani Freehold and Leasehold Real Estate Investment Trust

Dusit Thani Freehold and Leasehold Real Estate Investment Trust

DREIT.BK
Dusit Thani Freehold and Leasehold Real Estate Investment TrustTH flagStock Exchange of Thailand
4.80
THB
+0.04
- -
3.42BMarket Cap
Dusit Thani Freehold and Leasehold Real Estate Investment Trust
DREIT.BK
(Stock Exchange of Thailand)

Recent

price

4.80

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
0.97
0.91
0.93
0.93
0.63
0.58
- -
0.54
0.4
0.6
0.7
0.64
0.72
0.78
- -
0.79
Revenue per Share
0.94
0.85
0.7
0.73
0.43
0.22
- -
0.43
0.17
0.45
0.56
0.45
0.38
0.83
- -
0.46
Basic EPS, GAAP
-9.14
0.7
0.68
0.71
0.69
0.49
- -
0.02
-3.4
0.18
0.33
0.46
0.84
0.69
- -
0.46
Free Cash Flow per Basic Share
0.36
0.8
0.7
0.72
0.65
0.45
- -
0.3
0.24
0.2
0.33
0.39
0.6
0.4
- -
0.39
Dividend per Share
10.35
10.4
10.41
10.42
10.19
9.96
- -
8.89
7.63
7.8
7.97
8.03
7.81
8.23
- -
8.33
Book Value per Share
10.35
10.4
10.41
10.42
10.19
9.96
- -
8.89
7.59
7.7
8
8.1
7.86
8.27
- -
8.32
Tangible Book Value per Share
419
419
419
419
419
419
- -
419
712
712
712
712
712
712
- -
712
Basic Weighted Avg Shares
408
383
388
389
264
242
- -
227
286
425
496
453
512
555
543
565
Sales/Revenue/Turnover
93.63
84.35
93.52
94.73
93.17
84.63
- -
92.81
90.14
93.51
94.06
92.66
93.91
94.42
94.3
94.56
Operating Margin (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Depreciation Expense
395
356
295
307
179
92
- -
180
122
321
397
319
270
591
222
329
Net Income, GAAP
- -
- -
- -
- -
- -
- -
- -
- -
5.81
1.04
2.4
0.33
0.4
0.16
1.14
0.35
Effective Tax Rate (%)
96.79
93.05
76
78.95
67.64
38.08
- -
79.32
42.57
75.48
80.1
70.36
52.78
106.48
40.9
58.24
Profit Margin (%)
196
134
124
138
50
29
83
-18
23
140
170
138
262
358
251
317
Working Capital
- -
- -
- -
- -
- -
- -
589
599
1,488
1,981
2,061
2,116
2,114
2,106
2,084
2,096
LT Debt
4,339
4,362
4,364
4,370
4,274
4,178
3,673
3,728
5,401
5,477
5,693
5,764
5,594
5,881
5,721
5,917
Total Equity
- -
7.42
8.32
8.44
5.7
4.84
- -
4.91
4.33
5.47
5.98
5.35
6.14
6.66
6.41
- -
Return on Invested Capital (%)
- -
8.19
6.76
7.03
4.14
2.18
- -
4.7
2.71
5.44
6.15
5.12
4.84
9.04
4.14
2.58
Return on Capital (%)
- -
8.19
6.76
7.03
4.14
2.18
- -
4.87
2.66
5.84
7.08
5.6
4.8
10.35
3.82
5.58
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
- -
- -
- -
LT Borrowings
1,782
1,783
1,783
LT Finance Leases
308
301
313
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
712
712
712
Market Capitalization
3,486
3,472
3,387

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
292
294
396
Cash, Cash Equivalents & STI
253
225
216
Accounts Receivable, Net
35
50
151
Inventories
- -
- -
- -
Total Current Liabilities
72
43
80
Payables & Accruals
72
43
80
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
3.81%
0.93%
-2.71%
Free Cash Flow
- -
29.03%
-45.13%
Net Income, GAAP
- -
9.03%
-62.38%
Sales/Revenue/Turnover
- -
5.49%
-2.07%
Total Cash Common Dividend
- -
20.74%
3.16%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
223
88
89
155
555
2025
229
74
93
147
543
2026
251
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.4
0.52
-0.25
- -
0.83
2025
0.24
-0.05
0.06
- -
- -
2026
0.39
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.2
- -
0.2
- -
0.4
2025
0.21
- -
0.2
- -
- -
2026
0.19
- -
- -
- -
- -
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Business
Dusit Thani Freehold and Leasehold Real Estate Investment Trust (DREIT.BK) is a real estate investment trust that focuses on acquiring and managing high-potential freehold and leasehold properties, primarily in the hospitality sector; its core assets include hotel properties along with complementary facilities such as meeting and convention rooms, restaurants, fitness centers, spas, swimming pools, and tennis courts. Established in 2011 through conversion from Dusit Thani Freehold and Leasehold Property Fund and headquartered in Bangkok, Thailand, the trust operates assets strategically located in prime Thai tourism destinations to mitigate seasonality risks and diversify revenue streams. Managed by Dusit Thani Properties REIT Company Limited and overseen by trustee Krung Thai Asset Management, DREIT distributes returns to unitholders primarily through dividends derived from rental income and net profits after expenses, with a recent dividend yield around 8.54% supported by stable operations under the experienced Dusit Thani Group, which brings over 70 years of hotel management expertise. In recent developments, the trust maintains consistent dividend payments, including an ex-dividend date in August 2025 with an annual payout of approximately $0.42 per unit, reflecting operational resilience amid growing trends in Thailand's hotel industry bolstered by government support. The portfolio emphasizes well-diversified, high-quality assets operated by the Dusit Thani Group, ensuring long-term stability and potential for constant returns in key tourist regions across Thailand.