Highlights

Soilbuild REIT: No Big Surprises in 1Q

Date: 17/04/2018

Source  :  OCBC
Stock  :  SoilbuildBizReit       Price Target  :  0.70      |      Price Call  :  BUY
        Last Price  :  0.60      |      Upside/Downside  :  +0.10 (16.67%)
 


Soilbuild REIT’s 1Q18 results were within expectations. Gross revenue dropped 11.5% YoY to S$19.4m, or 24.4% of our full-year forecast, mainly due to lower contributions from 72 Loyang Way, West Park BizCentral, Eightrium, as well as KTL Offshore which was divested in Feb 2018.

1Q18 DPU dropped 11.1% YoY to 1.324 S cents or 25.9% of our full-year forecast.

Portfolio occupancy fell from 92.7% in 4Q17 to 87.5% in 1Q18, due to some non-renewals of expiring leases at Westpark BizCentral and Eightrium.

Going forward, we expect the industrial space to remain challenging but see upside against yesterday’s closing price.

Pending further details from the conference call later today, we maintain BUY on Soilbuild REIT with a fair value of S$0.70.

Source: OCBC Research - 17 Apr 2018

Share this

Related Stocks

Chart Stock Name Last Change Volume 
SoilbuildBizReit 0.60 0.00 (0.00%) 635,700 

  Be the first to like this.
 


 

149  189  197  544 

ActiveGainersLosers
Top 10 Active Counters
 NameLastChange 
 HSI25200MBePW.. 0.108+0.008 
 HSI27800MBeCW.. 0.047-0.01 
 HSI26800MBeCW.. 0.106-0.01 
 HSI26400MBeCW.. 0.038-0.016 
 Rich Capital 0.007+0.001 
 Ezion 0.045-0.003 
 SingTel 2.96-0.10 
 Genting Sing 0.985-0.015 
 Golden Agri-Res 0.255-0.005 
 Rex Intl 0.055-0.004 

TOP ARTICLES

1. Research Reports : 18th December 2018 Singapore Stock Market News
2. Research Reports : 17th December 2018 Singapore Stock Market News
3. Expecting "Santa Claus Rally " in 2018 , No ? STE's Stocks Investing Journey
4. ATFX Market Update - 2018.12.18 ATFX News Update
5. First REIT: Not Quite Out of the Woods SGX Stocks and Warrants
Partners & Brokers