Singapore Stock Market News

Croesus Retail Trust - Resilient Japan Play

StockFanatic
Publish date: Fri, 29 Aug 2014, 10:24 AM
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FY14 was a good year for CRT. Revenue was in line with our estimates but NPI outperformed by 4.8%, resulting in a DPU of SGD8.98 cents, 6.3% above the REIT's initial forecast. We expect potentially positive Shobu rental revisions and potential acquisitions of more Japanese malls to drive DPU growth. We like CRT's stability and expect it to maintain a close to 8% dividend yield at the current price. Maintain BUY and SGD1.15 TP.
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