Singapore Stock Market News

Croesus Retail Trust - High-Yielding Machine

StockFanatic
Publish date: Thu, 12 Feb 2015, 01:17 PM
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CRT's 2Q15 (Jun) revenue and NPI grew 51.7% and 48.8% YoY due mainly to the acquisitions of Luz Omori and Croesus Tachikawa. Maintain BUY with a SGD1.15 TP (20% upside). Rental revision for the Mallage Shobu mall is on track, with 58 out of 115 leases already renewed successfully at double-digit revision gains. We cut our FY15 revenue and distributable income by 6.1% and 5% respectively to reflect some downtime due to rental revisions.
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