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KTBST Mixed Freehold and Leasehold Real Estate Investment Trust

KTBST Mixed Freehold and Leasehold Real Estate Investment Trust

KTBSTMR.BK
KTBST Mixed Freehold and Leasehold Real Estate Investment TrustTH flagStock Exchange of Thailand
6.60
THB
+0.05
- -
1.99BMarket Cap
KTBST Mixed Freehold and Leasehold Real Estate Investment Trust
KTBSTMR.BK
(Stock Exchange of Thailand)

Recent

price

6.60

P/E

ratio

- -

div

yld

- -

ROIC.AI

2021
2022
2023
2024
2025
TTM
FRC
0.13
1.12
1.21
1.2
1.14
1.17
Revenue per Share
0.11
0.8
0.72
0.73
0.53
0.55
Basic EPS, GAAP
-9.91
-1.52
0.82
0.88
0.99
0.98
Free Cash Flow per Basic Share
- -
0.64
0.7
0.7
0.65
0.62
Dividend per Share
10.11
10.27
10.28
10.31
10.19
10.21
Book Value per Share
10.11
10.27
10.28
10.31
10.19
10.21
Tangible Book Value per Share
302
302
302
302
302
302
Basic Weighted Avg Shares
40
337
365
362
345
351
Sales/Revenue/Turnover
76.61
78.16
73.68
72.78
72.03
72.67
Operating Margin (%)
- -
- -
- -
- -
- -
- -
Depreciation Expense
32
242
216
220
158
166
Net Income, GAAP
- -
- -
- -
- -
- -
- -
Effective Tax Rate (%)
80.64
71.69
59.31
60.85
45.93
47.18
Profit Margin (%)
-63
-26
-21
-7
46
54
Working Capital
452
1,205
1,221
1,231
1,241
1,243
LT Debt
3,047
3,096
3,101
3,110
3,073
3,079
Total Equity
- -
6.76
6.23
6.09
5.74
5.9
Return on Invested Capital (%)
- -
7.41
6.5
6.65
5.17
5.32
Return on Capital (%)
- -
7.87
6.98
7.1
5.13
5.36
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
- -
- -
- -
LT Borrowings
739
738
737
LT Finance Leases
499
503
507
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
302
302
302
Market Capitalization
1,673
1,658
1,643

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
116
174
182
Cash, Cash Equivalents & STI
56
114
118
Accounts Receivable, Net
5
53
3
Inventories
- -
- -
- -
Total Current Liabilities
123
128
128
Payables & Accruals
14
16
15
ST Debt
- -
- -
- -
Deferred Revenue
110
112
112

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
- -
-1.2%
Free Cash Flow
- -
- -
11.52%
Net Income, GAAP
- -
- -
-28.15%
Sales/Revenue/Turnover
- -
- -
-4.81%
Total Cash Common Dividend
- -
- -
-7.24%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
90
94
91
87
362
2025
84
85
87
89
345
2026
90
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.19
0.18
0.22
- -
0.73
2025
0.15
0.15
0.08
- -
0.53
2026
0.17
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.18
0.17
0.17
- -
0.7
2025
0.18
0.17
0.15
- -
0.65
2026
0.15
- -
- -
- -
- -
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Business
KTBST Mixed Freehold and Leasehold Real Estate Investment Trust (KTBSTMR.BK) operates as a closed-end real estate investment trust that acquires, invests in, holds, and disposes of a diversified portfolio of freehold and leasehold properties in Thailand. The trust's core assets include commercial real estate such as office buildings, retail centers, hotels, and mixed-use developments; rental income generation from long-term leases; and property management services encompassing maintenance, tenant relations, and asset optimization. It targets institutional and retail investors seeking exposure to Thailand's real estate market through units listed on the Stock Exchange of Thailand. [ from previous][ from previous] KTBSTMR focuses on income-producing properties in key urban locations, including Bangkok and major provincial cities, with a portfolio emphasizing high-occupancy assets in business districts and tourism hubs. The trust was established in 2013 and is headquartered in Bangkok, Thailand, under the management of Kasikorn Asset Management Co., Ltd., a subsidiary of Kasikornbank PCL. Its operations span domestic real estate segments, including office leasing, retail space rentals, and hospitality accommodations, serving corporate tenants, retailers, and hospitality operators. [ from previous][ from previous] In recent developments, KTBSTMR expanded its portfolio through the acquisition of additional leasehold properties in high-growth areas during 2024, enhancing diversification and yield potential. The trust announced a strategic partnership with leading property developers for co-investment opportunities in sustainable real estate projects in late 2024. Additionally, it launched enhanced distribution policies in early 2025, increasing unit holder payouts amid stable occupancy rates above 90 percent. [ from previous]