Highlights

SGX Stocks and Warrants

Author: kimeng   |   Latest post: Mon, 14 Oct 2019, 11:34 AM

 

Cache Logistics Trust: DPU Up 0.4% YoY

Author:   |    Publish date:


Cache Logistics Trust’s (CACHE) gross revenue grew 6.2% YoY to S$30.8m while NPI grew 4.0% YoY to S$23.8m, mainly due to the contributions from the nine Australian assets acquired in Feb 2018, as well as the conversion of CWT Commodity Hub from master lease to multitenanted.

Distributable amount to unitholders increased 1.2% YoY to S$16.3m. DPU grew 0.4% YoY to 1.513 S cents or 27.5% of our initial full-year forecast, which we consider above expectations. A positive rental reversion of 1.3% was recorded in 1Q19.

Separately, we note that the REIT manager has announced that S$7.4m out of S$8.2m received as part of the resolution of 51 Alps Avenue has qualified for tax transparency.

The REIT manager estimates that ~S$2.9m of the S$7.4m will be distributed along with 2Q19 distributions – though this is an estimate and is subject to adjustments.

We place our Hold rating and fair value of S$0.70 under review.

Source: OCBC Research - 25 Apr 2019

Share this

Related Stocks

Chart Stock Name Last Change Volume 
Cache Log Trust 0.74 0.00 (0.00%) 394 

  Be the first to like this.
 


 

120  143  177  663 

ActiveGainersLosers
Top 10 Active Counters
 NameLastChange 
 Rex Intl 0.079-0.003 
 Singapore-eDev 0.047+0.002 
 Y Ventures 0.112-0.026 
 Alpha Energy 0.025-0.003 
 Genting Sing 0.915+0.005 
 SunMoonFood 0.057-0.002 
 Spackman 0.0130.00 
 Synagie 0.136-0.002 
 TEE Intl 0.046-0.001 
 Golden Agri-Res 0.210.00 
Partners & Brokers