Suntec REIT

[Musicwhiz]

Not vested. So while they are spending money to upgrade, less dividends would be distributed, right ?

Hi Winston,

Last line of press release says that while the upgrading is ongoing, proceeds from divestment of Chijmes will be used to cover any temporary dip in DPU.

(Vested)

[winston]

not vested

Suntec Real Estate Investment Trust, which owns commercial assets, said its distribution income in the fourth quarter rose 23.1 percent to S$55.3 million from a year ago, lifted by higher net property income.

Source: Reuters

[winston]

not vested

RESEARCH ALERT-CIMB raises Suntec REIT to trading buy

SINGAPORE Feb 9 (Reuters) - CIMB Research has upgraded Suntec Real Estate Investment Trust, which owns commercial assets, to a trading buy from underperform and raised its target price to S$1.30 from S$1.04.

By 0226 GMT, units of Suntec REIT were 0.83 percent higher at S$1.215, and have gained about 13 percent so far this year.


STATEMENT:

Although CIMB remains bearish on the office sector, it said it expects Suntec to benefit in the current liquidity-fuelled rally.

"We believe Suntec REIT is due for a bounce in this rally," CIMB said in a report, noting that it is the cheapeast among Singapore REITs, trading at 0.6 times its price-to-book value.

The brokerage also said it expects Suntec to renew rents at similar or higher levels this year, given the low rents that were locked in during the last crisis.

Source: Reuters

[winston]

not vested

Suntec Real Estate Investment Trust, which owns commercial properties, said its distribution per unit for January-March was 2.453 Singapore cents, 2.7 percent higher than a year ago, helped by an increase in office revenue.


Source: Reuters

[winston]

not vested

Suntec REIT posted on Thursday a 6.8 percent fall in second-quarter distribution per unit to 2.36 Singapore cents from a year earlier, hurt by lower income from Suntec City Mall and the sale of Chijmes.


Source: Reuters

[winston]

not vested

Suntec REIT (BUY, TP S$1.67).
Aug 21, 2012

At 0.7x P/BV, Suntec REIT is the cheapest large-cap S-REIT.

Revenue from its office portfolio is likely to remain strong, supported by high occupancies and healthy positive rental reversions.

While earnings momentum is expected to slow down in the next two quarters, as AEI at Suntec City retail mall intensifies, we expect it to bottom out by 1Q13.

It should start seeing sequential earnings recovery upon the reopening of its prime retail space (Phase 1 of AEI work).

Meanwhile, the surprise upside could come from the topping-up of distribution from the sale proceeds of CHIJMES, which we have not yet factored in.


Source: DBS

[winston]

not vested

Aug 21, 2012

Weaker performance was due to AEI work at Suntec retail mall, which has commenced and an income vacuum from the sale of CHIJMES.

While Suntec retail rents dropped by 8% q-o-q as the prime space closed down for renovation, office rents remained steady.

Management maintains that it has sufficient cash resources from the sale of CHIJMES to fund the capex for the AEI in Phase 1 and 2 and might top this up with distributions from the sale proceeds of CHIJME if necessary.


Source: DBS

[winston]

not vested

For investors with mid- to long- term horizon, they may want to place their bet on Suntec REIT which is undergoing major makeover (phase 1-4) at Suntec City, stretching from Jun-12 to 2014.

In this regard, return on investment from the refurbishments is likely to stream in in staggered phases.

The tax savings from MBFC Phase I and potential ORQ could make up the loss for the drop in vacancy.

Valuation is also undemanding and trading at a steep discount of 26.5% relative to Mapletree Commercial Trust (MCT) and Starhill Global REIT.


Source: Phillips

[winston]

not vested

STOCKS NEWS SINGAPORE-Maybank upgrades Suntec REIT to 'buy'

Maybank Kim Eng upgraded Suntec Real Estate Investment Trust to 'buy' from 'hold' and raised its target price to S$1.66 from S$1.42, citing strong occupancy at its office assets and good progress in the upgrading works for its shopping mall and convention centre.

Units of Suntec REIT were up 0.3 percent at S$1.535, and have surged 42.9 percent since the start of the year, compared to the FTSE ST Real Estate Investment Trust's <.FTFSTAS8670> 32 percent rise.

Suntec is one of the few Singapore-listed REITs that offers yields of more than 6 percent but are trading at discounts to book value, Maybank said.

It also noted that against a backdrop of an office supply glut and high vacancy rates, Suntec has secured 100 percent occupancy for its office assets in Suntec and Park Mall, One Raffles Quay and 99.5 percent for Marina Bay Financial Centre Tower 1.

"With all its assets and income contribution from Singapore, we believe investors will continue to favour Suntec in the absence of forex risk, highly-liquid S-REIT counters and investable alternatives," said Maybank in a note.

The brokerage is confident that Suntec REIT will be able to pay out distribution per unit of at least 2.15 Singapore cents for the third quarter and at least 9 percent Singapore cents for the full year.

Source: Reuters

[winston]

not vested

Suntec Reit Q3 DPU slips 7.2% By Carine Lee

SUNTEC Real Estate Investment Trust (Suntec Reit) reported a distribution per unit (DPU) of 2.35 Singapore cents for the third quarter ended Sept 30, down 7.2 per cent from a year ago.

Its manager ARA Trust Management (Suntec) Limited on Thursday said income available for distribution decreased 6.3 per cent year-on-year to $52.82 million from $56.36 million.

Gross revenue slipped 7.8 per cent to $62.59 million from $67.91 million a year ago, while net property income decreased 19.5 per cent year-on-year to $38.45 million.

Nine-month DPU slipped 3.9 per cent year-on-year to 7.164 cents from 7.453 cents.


Source: Business Times

http://www.businesstimes.com.sg/breakin ... 2-20121025