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Latest Forum Topics / Suntec Reit    Last:1.45    +0.01  Post Reply
Ascendasreit
Lobster
Elite
26-Jan-2022 09:06     
 
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Yells: "Even Adam Khoo believes in the Black Market!"
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 Alert Admin

Suntec REIT reports DPU of 4.512 cents for 2HFY2021, up 9.8% y-o-y

The manager of Suntec REIT has reported a distribution per unit (DPU) of 4.512 cents for the 2HFY2021 ended Dec 31, 2021, 9.8% higher than the DPU of 4.109 cents in the corresponding period the year before.

The higher DPU was due to the higher distribution income from operations, which increased 21.6% y-o-y to $129.0 million on the back of the two new acquisitions made in London, UK.

For the 2HFY2021, distribution income from operations rose 21.6% y-o-y to $129.0 million.

Distributable income stood the same at $129.0 million, although rising 10.8% y-o-y, as the manager had released the 10.0% of distributable income for the 1HFY2020 it withheld, in 2HFY2020.

Gross revenue for the 2HFY2021 rose 15.3% y-o-y to $191.3 million, while net property income (NPI) improved by 30.3% y-o-y to $142.0 million for the period. The better performance was mainly attributable to the contribution from The Minster Building in London, which was acquired on July 28, 2021, as well as contribution from the completed Olderfleet in Melbourne, Australia from Aug 1, 2020.

During the half-year period, the higher gross revenue and NPI were also driven by higher revenue from 21 Harris Street and 177 Pacific Highway in Sydney, Australia, as well as Suntec City in Singapore.

Revenue for Suntec City increased by $2.0 million y-o-y, mainly due to the higher retail revenue of $4.9 million due to the lower rental assistance granted to the mall&rsquo s retail tenants.

Revenue for Suntec City Office fell $2.9 million y-o-y mainly due to the divestment of the portfolio of its strata units.
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john_ric
Supreme
12-Jan-2022 15:31     
 
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 Alert Admin 		suntec reit result on 6 jan FY.
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vivacious
Supreme
29-Oct-2021 10:50     
 
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 Alert Admin 		XD today
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vivacious
Supreme
22-Oct-2021 13:56     
 
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 Alert Admin 		slow lor. 

hongsanrobert      ( Date: 22-Oct-2021 13:38) Posted:

Surprisingly Suntec Announcement already stated next dividend, but SGX never CD, why????

pasttime      ( Date: 22-Oct-2021 10:50) Posted:

if business depends on covid , surely the message is loud and clear world wide of living with covid.
only exception is china.
potentially next week singapore-australia travel lanr arrangement.
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hongsanrobert
Member
22-Oct-2021 13:38     
 
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 Alert Admin 		Surprisingly Suntec Announcement already stated next dividend, but SGX never CD, why????

pasttime      ( Date: 22-Oct-2021 10:50) Posted:

if business depends on covid , surely the message is loud and clear world wide of living with covid.
only exception is china.
potentially next week singapore-australia travel lanr arrangement.
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pasttime
Supreme
22-Oct-2021 10:50     
 
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Yells: "gold silver are real money. not others iou."
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 Alert Admin 		if business depends on covid , surely the message is loud and clear world wide of living with covid.
only exception is china.
potentially next week singapore-australia travel lanr arrangement.
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vivacious
Supreme
22-Oct-2021 09:22     
 
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 Alert Admin 		https://www.businesstimes.com.sg/companies-markets/suntec-reit-q3-dpu-rises-208-to-s002232
 
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vivacious
Supreme
19-Oct-2021 19:54     
 
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 Alert Admin 		whats ur buy price?

Inferno      ( Date: 12-Oct-2021 11:43) Posted:

This counter definitely a buy although I have been queuing at my buy price for 2 weeks and still zilch. Haha.

MICE and retail will be very dependent on COVID situation. Office space even prior to COVID (as early as 2018) already face some headwinds.. many big name tenants have uprooted to more new and swanky offices in the new Marina area. There is a downward price pressure to attract office tenants to its aging infra. 

PhillipTan      ( Date: 11-Oct-2021 16:59) Posted:

Undervalued yes
But with good reasons why so
High gearing and business uncertainties due to covid
Hence, investors usually will tend to think twice before putting their money here
Lesser investors buying, so the prices kind of stagnated at lower levels

Personally I feel anything below $1.50 is really a good buy
Buy and throw under the pillow and wait for covid to blow over

DYODD though
 
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john_ric
Supreme
19-Oct-2021 19:01     
 
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 Alert Admin 		Wait till market is hot 1.9 s not impossible. In the meantime collect dividend.
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Inferno
Senior
12-Oct-2021 11:43     
 
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 Alert Admin 		This counter definitely a buy although I have been queuing at my buy price for 2 weeks and still zilch. Haha.

MICE and retail will be very dependent on COVID situation. Office space even prior to COVID (as early as 2018) already face some headwinds.. many big name tenants have uprooted to more new and swanky offices in the new Marina area. There is a downward price pressure to attract office tenants to its aging infra. 

PhillipTan      ( Date: 11-Oct-2021 16:59) Posted:

Undervalued yes
But with good reasons why so
High gearing and business uncertainties due to covid
Hence, investors usually will tend to think twice before putting their money here
Lesser investors buying, so the prices kind of stagnated at lower levels

Personally I feel anything below $1.50 is really a good buy
Buy and throw under the pillow and wait for covid to blow over

DYODD though
 

gopguppy      ( Date: 11-Oct-2021 16:08) Posted:

According to the report, this stock is deeply undervalued, 30% discount to NAV. If this trend continues, it will be bought over by big players. This stock has a good potential to be privatised I think. No stock with such a good pedigree, is trading at such a deep discount. The current price is unreal
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gopguppy
Veteran
12-Oct-2021 10:52     
 
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 Alert Admin 		A possible stock for privatization according to DBS.

https://www.dbs.com.sg/treasures/aics/templatedata/article/generic/data/en/GR/092021/210917_singapore_stock_pulse.xml

Suntec REIT: An underpriced &ldquo high growth&rdquo play

Suntec REIT
An underpriced &ldquo high growth&rdquo play
&bull Enhancement of shareholder value through accretive acquisition without EFR is yet to be priced in
&bull Most undervalued commercial SREIT with the highest two-year DPU CAGR, leading its peers
&bull Attractive acquisition/privatisation target with the potential merger of ESR and ARA Group, given its attractive valuation
&bull Maintain BUY raised TP to S$1.90
 
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PhillipTan
Supreme
11-Oct-2021 16:59     
 
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 Alert Admin 		Undervalued yes
But with good reasons why so
High gearing and business uncertainties due to covid
Hence, investors usually will tend to think twice before putting their money here
Lesser investors buying, so the prices kind of stagnated at lower levels

Personally I feel anything below $1.50 is really a good buy
Buy and throw under the pillow and wait for covid to blow over

DYODD though
 

gopguppy      ( Date: 11-Oct-2021 16:08) Posted:

According to the report, this stock is deeply undervalued, 30% discount to NAV. If this trend continues, it will be bought over by big players. This stock has a good potential to be privatised I think. No stock with such a good pedigree, is trading at such a deep discount. The current price is unreal.

PhillipTan      ( Date: 01-Oct-2021 02:27) Posted:

RHB keeps ' buy' call on Suntec REIT, but with lower target price of $1.72

RHB Group Research analyst Vijay Natarajan has maintained his " buy" call on Suntec REIT with a lower target price of $1.72, down from his previous figure of $1.76. 

In a Sept 30 note, Natarajan noted that the return of tightening measures in Singapore is negative for Suntec City mall, and will likely decelerate its office space-leasing momentum in the short term. 

However, he remains positive on the long-term fundamentals of its high-quality office portfolio, and sees that this stock remains deeply undervalued. 

Suntec is trading at around a 30% discount to its book value, and some key catalysts are asset divestments at a premium to book values and yield-accretive acquisitions.

Elaborating on Suntec' s office segment, he is still positive on its long term outlook, despite its Singapore office portfolio occupancy rate in 2QFY2021 dipping 1.1% q-o-q to 95%, mainly due to UBS moving out. 

" However, we remain positive in our long-term outlook and expect the REIT to benefit from the ongoing flight to quality," Natarajan writes.

He also thinks that the underlying strength in the office market is evident, pointing at Grade-A core central business district rental rates in 2QFY2021 rising 1% q-o-q to $10.50 per sq ft per month. This is the first growth since 4QFY2019. He adds that 1HFY2021 portfolio rent reversion was positive, and should remain so for the rest of the year.

Similarly, Natarajan notes that office capital values have held up well, as seen by the REIT' s robust transaction activity. Suntec had divested two office assets, a 30% stake in 9 Penang Road and Suntec City strata office units, at 6% and 9% premiums to their latest valuations.

As for its retail segment, the outlook for this segment remains challenging, with more rental rebates likely to be offered in 2HFY2021. He estimates potential rebates for  FY2021 to be at 3-5% of rental income ($1.5-3million), in addition to short-term rental rate restructuring. 

Rental rates, however, may stay under pressure, with reversions likely to be at -10% to -20%. As a comparison, rental reversions were -15.3% for 1HFY2021

On the other hand, Suntec City mall' s occupancy rate improved to 93.9% in 2QFY2021, and management expects this to reach 95% by the year-end. 

Natarajan pointed out that asset recycling is likely to continue with potential divestments likely in its Australia portfolio (possibly 177 Pacific Highway), following the recent asset divestments in Singapore. The REIT is also exploring potential redevelopment opportunities for Southgate Complex, and repositioning some of its convention centre space to extract better value.
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gopguppy
Veteran
11-Oct-2021 16:08     
 
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 Alert Admin 		According to the report, this stock is deeply undervalued, 30% discount to NAV. If this trend continues, it will be bought over by big players. This stock has a good potential to be privatised I think. No stock with such a good pedigree, is trading at such a deep discount. The current price is unreal.

PhillipTan      ( Date: 01-Oct-2021 02:27) Posted:

RHB keeps ' buy' call on Suntec REIT, but with lower target price of $1.72

RHB Group Research analyst Vijay Natarajan has maintained his " buy" call on Suntec REIT with a lower target price of $1.72, down from his previous figure of $1.76. 

In a Sept 30 note, Natarajan noted that the return of tightening measures in Singapore is negative for Suntec City mall, and will likely decelerate its office space-leasing momentum in the short term. 

However, he remains positive on the long-term fundamentals of its high-quality office portfolio, and sees that this stock remains deeply undervalued. 

Suntec is trading at around a 30% discount to its book value, and some key catalysts are asset divestments at a premium to book values and yield-accretive acquisitions.

Elaborating on Suntec' s office segment, he is still positive on its long term outlook, despite its Singapore office portfolio occupancy rate in 2QFY2021 dipping 1.1% q-o-q to 95%, mainly due to UBS moving out. 

" However, we remain positive in our long-term outlook and expect the REIT to benefit from the ongoing flight to quality," Natarajan writes.

He also thinks that the underlying strength in the office market is evident, pointing at Grade-A core central business district rental rates in 2QFY2021 rising 1% q-o-q to $10.50 per sq ft per month. This is the first growth since 4QFY2019. He adds that 1HFY2021 portfolio rent reversion was positive, and should remain so for the rest of the year.

Similarly, Natarajan notes that office capital values have held up well, as seen by the REIT' s robust transaction activity. Suntec had divested two office assets, a 30% stake in 9 Penang Road and Suntec City strata office units, at 6% and 9% premiums to their latest valuations.

As for its retail segment, the outlook for this segment remains challenging, with more rental rebates likely to be offered in 2HFY2021. He estimates potential rebates for  FY2021 to be at 3-5% of rental income ($1.5-3million), in addition to short-term rental rate restructuring. 

Rental rates, however, may stay under pressure, with reversions likely to be at -10% to -20%. As a comparison, rental reversions were -15.3% for 1HFY2021

On the other hand, Suntec City mall' s occupancy rate improved to 93.9% in 2QFY2021, and management expects this to reach 95% by the year-end. 

Natarajan pointed out that asset recycling is likely to continue with potential divestments likely in its Australia portfolio (possibly 177 Pacific Highway), following the recent asset divestments in Singapore. The REIT is also exploring potential redevelopment opportunities for Southgate Complex, and repositioning some of its convention centre space to extract better value.
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vivacious
Supreme
08-Oct-2021 15:33     
 
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 Alert Admin 		1.50 akan datang
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Goldblade
Senior
08-Oct-2021 15:28     
 
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 Alert Admin 		last 30 mins alone. at least 8 transactions above 100k. something brewing?
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PhillipTan
Supreme
01-Oct-2021 02:27     
 
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 Alert Admin

RHB keeps ' buy' call on Suntec REIT, but with lower target price of $1.72

RHB Group Research analyst Vijay Natarajan has maintained his " buy" call on Suntec REIT with a lower target price of $1.72, down from his previous figure of $1.76. 

In a Sept 30 note, Natarajan noted that the return of tightening measures in Singapore is negative for Suntec City mall, and will likely decelerate its office space-leasing momentum in the short term. 

However, he remains positive on the long-term fundamentals of its high-quality office portfolio, and sees that this stock remains deeply undervalued. 

Suntec is trading at around a 30% discount to its book value, and some key catalysts are asset divestments at a premium to book values and yield-accretive acquisitions.

Elaborating on Suntec' s office segment, he is still positive on its long term outlook, despite its Singapore office portfolio occupancy rate in 2QFY2021 dipping 1.1% q-o-q to 95%, mainly due to UBS moving out. 

" However, we remain positive in our long-term outlook and expect the REIT to benefit from the ongoing flight to quality," Natarajan writes.

He also thinks that the underlying strength in the office market is evident, pointing at Grade-A core central business district rental rates in 2QFY2021 rising 1% q-o-q to $10.50 per sq ft per month. This is the first growth since 4QFY2019. He adds that 1HFY2021 portfolio rent reversion was positive, and should remain so for the rest of the year.

Similarly, Natarajan notes that office capital values have held up well, as seen by the REIT' s robust transaction activity. Suntec had divested two office assets, a 30% stake in 9 Penang Road and Suntec City strata office units, at 6% and 9% premiums to their latest valuations.

As for its retail segment, the outlook for this segment remains challenging, with more rental rebates likely to be offered in 2HFY2021. He estimates potential rebates for  FY2021 to be at 3-5% of rental income ($1.5-3million), in addition to short-term rental rate restructuring. 

Rental rates, however, may stay under pressure, with reversions likely to be at -10% to -20%. As a comparison, rental reversions were -15.3% for 1HFY2021

On the other hand, Suntec City mall' s occupancy rate improved to 93.9% in 2QFY2021, and management expects this to reach 95% by the year-end. 

Natarajan pointed out that asset recycling is likely to continue with potential divestments likely in its Australia portfolio (possibly 177 Pacific Highway), following the recent asset divestments in Singapore. The REIT is also exploring potential redevelopment opportunities for Southgate Complex, and repositioning some of its convention centre space to extract better value.
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Joelton
Supreme
30-Sep-2021 09:47     
 
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 Alert Admin
Focus on ' growth names' in S-REITs such as MLT, FLCT, A-REIT, Suntec REIT, MCT and FCT: DBS
On the back of new Covid-19 measures that will be effective from Sept 27 to Oct 24, DBS Group Research analysts Derek Tan, Rachel Tan, Dale Lai and Geraldine Wong are advising investors to &ldquo seek shelter in structural growth names&rdquo .
 
These include industrial S-REITs such as Mapletree Logistics Trust (MLT), Frasers Logistics & Commercial Trust (FLCT), Ascendas REIT (A-REIT), ARA LOGOS Logistics Trust (ALLT) and ESR-REIT.
 
Selected retail and office S-REITs such as Suntec REIT, Mapletree Commercial Trust (MCT) and Frasers Centrepoint Trust (FCT) are 
also within the analysts&rsquo top picks.
 
Under the hospitality S-REITs sub-sector, Ascott Residence Trust (ART) is the team&rsquo s &ldquo medium term pick&rdquo as travel returns.
The government, on Sept 24, introduced a new round of curbs that include the reducing of dining-in groups to two from five previously. Working from home (WFH) is, again, the default. Social gatherings have also been limited to groups of two from five previously.
 
The way the team sees it, the measures will disrupt the recovery of businesses built up over the past month.
 
&ldquo It could also have long-term impact on the office and retail landlords, with the latter potentially being affected the most,&rdquo they write in a Sept 27 report.
 
On this, the team sees potential risks that may stem from higher vacancy rates due to owners choosing to close down their businesses, as well as further rental support beyond the expected 1.5 months&rsquo worth in 2021/
 
Office focused S-REITs also face risks as the &ldquo the runway for landlords to price-up rents given looming supply in 2023/24 is now shorter&rdquo .
 
On this, investors looking to buy their &ldquo preferred names&rdquo should do so, given the current share price retreat, says the team.
The analysts also note that any retreat in share price is &ldquo likely fleeting&rdquo .
 
Furthermore, key retail and office proxies such as FCT, CapitaLand Integrated Commercial Trust (CICT) and Suntec REIT are already at year-to-date (y-t-d) lows and below historical average valuations (on a yield and price-to-net asset value or P/NAV basis).
 
The lows imply that most negatives are already priced in and that the share prices will likely see support, add the analysts.
&ldquo We, however, note that selected names like SPH REIT, Starhill Global (SGREIT), Lendlease Global Commercial REIT (LREIT) are trading 5%-10% above y-t-d lows due to recent news of EPRA NAREIT indexation catalysts and these have higher risks of a near term correction as trades unwind,&rdquo they write.
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PhillipTan
Supreme
27-Sep-2021 15:25     
 
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 Alert Admin 		Sometimes, what is seemingly obvious isn' t really so
Exhibition related 1000 attendees max capacity remain unchanged, the current measurements should not have any impact
Office and Retail nothing' s changed too

I initially thought it will go down and get stagnant in the low 1.4 range
But with analysts from DBS and RHB constantly coming out to promote Suntec being undervalued and chart signals suggesting Suntec being oversold when it hit 1.39-140 last week
I guess it drew quite some attention and buying then and there
Two things which may be a concern is how long more will this covid drag on and Suntec having a higher gearing than other REITs

Most probably Suntec will be trading around 1.43-1.45 in the short term, somewhere in the mid 1.4 range
My personal feel is it probably will not move drastically in either directions for quite a while
HIstorically (before covid) one of the better paying REITs, so I am staying vested even if it goes up and picking more when it drops
DYODD though

On my personal watchlist, Suntec is one of them
Hong Kong Land - Share Buyback
SGX - Entering Bollinger Squeeze
AEM - Growth potential
CDG, CDL, SingTel, Straits Trading, Suntec, YZJ - Undervalued
CDLHT, CAO, Riverstone - Undervalued but could be risky counters to trade
 

rocketman      ( Date: 26-Sep-2021 11:46) Posted:

So obvious right.. even dummy also knows.. smile widely as usual

PhillipTan      ( Date: 25-Sep-2021 16:00) Posted:

Waiting for? it to go down again or up?
 
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rocketman
Master
26-Sep-2021 11:46     
 
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 Alert Admin 		So obvious right.. even dummy also knows.. smile widely as usual

PhillipTan      ( Date: 25-Sep-2021 16:00) Posted:

Waiting for? it to go down again or up?
 

rocketman      ( Date: 24-Sep-2021 23:07) Posted:

Wait patiently..Smile widely as usual..
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PhillipTan
Supreme
25-Sep-2021 16:00     
 
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 Alert Admin 		Waiting for? it to go down again or up?
 

rocketman      ( Date: 24-Sep-2021 23:07) Posted:

Wait patiently..Smile widely as usual..
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