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Shinhan Seobu T&D REIT Co., Ltd.

Shinhan Seobu T&D REIT Co., Ltd.

KKRX:404990
3,975.00
KRW
+90.00
(+2.32%)
92.40EPS
168.86P/E
263.51BMarket Cap
Shinhan Seobu T&D REIT Co., Ltd.
KRX:404990
(Korea Stock Exchange)

Recent

price

3,975.00

P/E

ratio

168.86

div

yld

- -

ROIC.AI

2020
2021
2021
2022
2022
2022
2022
2023
2023
2024
2024
2025
2025
2026
TTM
KRW
349.14
330.65
313.61
359.65
259.37
260.99
266.28
265.39
294.53
313.66
323.46
484.54
558.94
996.7
526.09
Revenue per Share
-102
-12
49
91.68
59
86.04
97
80
95
-20
184
-66
34
416
25.94
Basic EPS, GAAP
-3,478.48
766.39
-129.98
469.64
287.33
322.28
173.3
134.59
183.14
119.21
162.45
48.55
302.24
216.83
- -
Free Cash Flow per Basic Share
- -
- -
103.05
- -
88.45
243.5
155.66
159.04
150.07
140.17
118.28
180.65
168.17
206.06
- -
Dividend per Share
2,505.19
2,498.98
4,857.12
- -
4,827.48
- -
4,768.69
4,689.17
4,639.77
4,555.25
4,620.81
4,419.69
4,391.2
4,819.64
4,157.34
Book Value per Share
2,505.19
2,498.98
4,857.12
- -
4,827.48
- -
4,768.69
4,689.17
4,639.77
4,555.25
4,620.81
4,419.69
4,391.2
4,819.64
4,157.34
Tangible Book Value per Share
5
29
34
34
56
56
56
56
56
56
56
56
57
57
59
Basic Weighted Avg Shares
1,853
9,587
10,583
12,136
14,603
14,694
14,932
14,940
16,473
17,530
18,056
26,945
32,077
57,200
31,040
Sales/Revenue/Turnover
13.75
37.09
53.52
58.79
51.27
61.38
63.25
55.3
64.63
59.73
66.01
58.57
74
75.08
73.52
Operating Margin (%)
1,191
3,498
3,626
3,942
4,405
4,405
4,323
4,110
4,249
4,320
4,320
5,344
5,597
5,480
5,592
Depreciation Expense
-541
-348
1,653
3,094
3,322
4,844
5,439
4,503
5,313
-1,118
10,271
-3,670
1,951
23,874
1,530
Net Income, GAAP
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Effective Tax Rate (%)
-29.21
-3.63
15.62
25.49
22.75
32.97
36.43
30.14
32.26
-6.38
56.88
-13.62
6.08
41.74
4.93
Profit Margin (%)
-14,289
-7,442
35,095
- -
37,468
- -
-156,563
-157,568
-42,786
-47,308
-23,265
-250,420
-405,869
-368,782
-206,032
Working Capital
191,048
191,484
263,520
- -
263,871
- -
71,751
71,815
241,389
273,660
513,173
415,578
192,914
201,465
394,317
LT Debt
140,180
139,832
271,784
- -
270,126
- -
266,836
262,387
259,622
254,893
327,833
346,710
352,659
377,275
347,797
Total Equity
- -
- -
1.24
- -
- -
- -
- -
1.56
1.93
1.78
1.59
- -
2.33
4.26
2.41
Return on Invested Capital (%)
- -
- -
1.27
- -
- -
- -
- -
1.68
2.04
1.35
2.79
- -
1.59
3.56
1.63
Return on Capital (%)
- -
-0.25
0.8
- -
- -
- -
- -
1.7
2.04
-0.43
4
-1.45
0.78
9
0.61
Return on Common Equity (%)

Capital Structure

KRW

•

in mil. unless spec.
Mar'25
Sep'25
Mar'26
ST Debt
253,443
278,246
263,560
LT Borrowings
314,535
385,148
394,317
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
56
58
60
Market Capitalization
183,815
195,569
263,515

Working Capital

KRW

•

in mil. unless spec.
Mar'25
Sep'25
Mar'26
Total Current Assets
34,605
36,155
101,204
Cash, Cash Equivalents & STI
31,321
31,747
40,474
Accounts Receivable, Net
2,579
3,298
3,574
Inventories
- -
- -
- -
Total Current Liabilities
263,378
317,179
307,236
Payables & Accruals
- -
- -
- -
ST Debt
253,443
278,246
263,560
Deferred Revenue
- -
- -
- -

Growth Rates

KRW

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
8.25%
6.98%
Free Cash Flow
42.6%
89.02%
-28.26%
Net Income, GAAP
-23.9%
-61.06%
1,123.52%
Sales/Revenue/Turnover
18.89%
31.2%
78.32%
Total Cash Common Dividend
- -
9.67%
22.53%

Quarterly Revenue

KRW

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
8,618
- -
8,937
- -
- -
2025
12,610
- -
15,508
- -
32,077
2026
- -
- -
15,532
- -
57,200

Quarterly Earnings Per Share

KRW

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
23
- -
-12
- -
- -
2025
-6
- -
8
- -
34
2026
- -
- -
18
- -
416

Quarterly Dividends Per Share

KRW

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
168.17
2026
- -
- -
- -
- -
206.06
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Business
Shinhan Seobu T&D REIT Co., Ltd. is a South Korea-based real estate investment trust focused on the acquisition, management, leasing, development, and disposal of prime commercial real estate assets. Founded in 2020 and headquartered in Seoul, South Korea, the trust is sponsored by urban developer Seobu T&D Co., Ltd. and managed by Shinhan REITs Management Co., Ltd., an asset management subsidiary of Shinhan Financial Group. The company operates primarily within the Seoul Capital Area across three core business segments: Retail Properties, Hospitality and Lodging, and Commercial Office Leasing. The trust's primary products, services, and operational assets include the ownership, operation, and tenant leasing of Square 1, a premier large-scale retail and lifestyle shopping complex located in Incheon, providing leased space to multinational fashion brands, hypermarkets, dining venues, and entertainment operators; luxury and upper-midscale hospitality assets, comprising the luxury serviced hotel Grand Mercure Ambassador Hotel Seoul Yongsan located within the Seoul Dragon City complex, as well as the midscale business hotel Shilla Stay Mapo in Seoul; commercial office leasing and facilities administration, including an investment interest in Gwanghwamun G Tower in Seoul's central business district; and comprehensive real estate investment management operations, encompassing master lease structuring, space tenanting, capital expenditure management, property enhancement, and biannual cash dividend distributions to institutional and retail equity investors. The trust caters to corporate occupiers, commercial retail tenants, business and leisure travelers, and public market investors. In recent corporate developments, Shinhan Seobu T&D REIT executed a major portfolio rebalancing and capital recycling program. In 2025, the trust acquired the Shilla Stay Mapo hotel property to reinforce cash flow stability and enhance rental yields in high-demand hospitality submarkets. In 2026, the company finalized the sale of Nine Tree Hotel Dongdaemun through its subsidiary, Shinhan Seobu T&D No. 2 REIT, for approximately KRW 81 billion, subsequently initiating the liquidation of the subsidiary to reallocate realized capital into higher-yielding commercial properties. In addition, the trust expanded its presence in the prime office market through its interest in Gwanghwamun G Tower, completed debt refinancing initiatives to optimize borrowing costs amid interest rate fluctuations, and reinforced its acquisition pipeline by leveraging right-of-first-refusal arrangements on sponsor-backed urban logistics center redevelopments and mixed-use commercial projects.