Singapore Stock Market News

SPH REIT - Stable but priced in

StockFanatic
Publish date: Tue, 14 Apr 2015, 01:00 PM
StockFanatic
0 10,453
Welcome to Stockfanatic Singapore stock market and regional market news. This is a platform to share Singapore stock market and regional news to investors / man in the street. Investors can also look forward to analyst reports and brokers recommendations. Stockfanatic's Singapore stock market and regional news blog, home of investors one stop news station.
SPH REIT's results were in line, with 2Q/1HFY15 DPUs at 26%/50% of our full-year forecast.

The positives of the results are
1) full occupancy,

2)improved NPI margin from cost savings and

3) 11% portfolio reversion for 10% of the portfolio by NLA.

Moving forward, we expect the portfolio to remain stable with minimal rental reversion for FY8/15 and limited supply of retail space along Orchard Road. Maintain Hold as we believe the positives have been priced in at 1.15 FY15 P/BV and with a 5.1% FY15 dividend yield. We increase our DDM-based target price slightly as we roll forward our valuation.
Read more »
Related Stocks
Market Buzz
Discussions
Be the first to like this. Showing 0 of 0 comments

Post a Comment