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Suntec REIT

vivacious
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04-Apr-2024 09:34

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$2?

MrBear12 ( Date: 04-Apr-2024 09:24) Posted:

This will go back to 2 gold coins

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MrBear12
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04-Apr-2024 09:24

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This will go back to 2 gold coins

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vivacious
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04-Apr-2024 09:22

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touched 115

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vivacious
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03-Apr-2024 18:23

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1.13 nice.

12 series coming

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MrBear12
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01-Apr-2024 20:39

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The AGM for this share is 18 Apr 2024 (Thurs) at 1430.
Venue: Level 3 Summit 1
Suntec Convention and Exhibition Ctr.
1 Raffles Boulevard
Suntec City

No option to attend virtually.

Would be interesting to ask why the price traded currently is almost half the NAV.

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MrBear12
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01-Apr-2024 19:20

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More importantly, it?s recent NAV has been near 2.12

vivacious ( Date: 01-Apr-2024 19:04) Posted:

it was 2.12 back in2017

MrBear12 ( Date: 01-Apr-2024 13:12) Posted:

2.00 is target for next year. Good reit. Keep

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vivacious
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01-Apr-2024 19:04

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it was 2.12 back in2017

MrBear12 ( Date: 01-Apr-2024 13:12) Posted:

2.00 is target for next year. Good reit. Keep

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MrBear12
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01-Apr-2024 13:12

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2.00 is target for next year. Good reit. Keep

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vivacious
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01-Apr-2024 13:08

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12 series coming

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Secret_Squirrel
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16-Mar-2024 13:10

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Short volume quite a lot on 15 Mar. 
Shortist got caught as price up 2 cents to #1.07. lol

Short Sell Executed on March 15, 2024

Security                     ShortSaleVolume     Curr     ShortSaleValue
Suntec Reit                  10823900            SGD      11303560

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Newbornborn
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15-Mar-2024 17:12

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It's already oversold situation . Should be slowly going up..

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trentlim
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15-Mar-2024 17:07

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So.. in the end, today was a fake out.., 1.04-1.05 is a strong support area.

However dun be so happy yet, 1.07 is a lower high.. monday must also end positive

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vivacious
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15-Mar-2024 17:05

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nicely done at 107

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vivacious
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15-Mar-2024 16:38

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short covering

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Secret_Squirrel
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15-Mar-2024 16:00

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Looking on the positive side, when price goes down, it is an opportunity for us to accumulate.

trentlim ( Date: 14-Mar-2024 17:52) Posted:

still went down to 1.04 anyways

Suntec REIT - RHB Invest 2024-01-25: Operational Strength To Continue Upgrade To BUY

Suntec REIT - Operational Strength To Continue Upgrade To BUY

Upgrade Suntec REIT (SGX:T82U) to BUY from Neutral, with new S$1.35 target price from S$1.20, 10% upside and ~5% yield. Suntec REIT&rsquo s 4Q23 results came in slightly better than expected, backed by strong Singapore operational performance.
Growth outlook for Singapore office and retail portfolio is expected to moderate but remains positive, while the worst is likely over for its overseas portfolio. The market&rsquo s main concerns over Suntec REIT' s low debt hedge position and high gearing should start to assuage with rates peaking.

FY23 DPU Declined 20% Y-O-Y

Suntec REIT' s FY23 DPU declined 20% y-o-y as higher income from Singapore assets was offset by higher financing and operational costs as well as weaker overseas performance. Final DPU includes a capital top-up of S$23m from past divestment gains from Park Mall, and with the entire amount now distributed, no capital top-up is expected in FY24F.

Portfolio Value Rose 0.7% Y-O-Y

Market concerns over valuation decline were unfounded as overall portfolio value of Suntec REIT rose 0.7% y-o-y, aided by Singapore assets which saw 3% valuation uplift mainly from income growth that more than offset the declines in Australia (-5%) and the UK (-10%).
Financing costs rose 90bps y-o-y to 3.84% in FY23 and we expect this to peak this year at ~4.1% in FY24F and fall slightly in FY25F.

Singapore Office Portfolio Continued To Shine

Singapore office portfolio continued to shine, with healthy 99.7% occupancy (+0.2ppt q-o-q) and strong positive rent reversions of 12.3% for FY23. While office rents are expected to moderate, overall rent reversions are expected to be in the positive mid to high-single digits for FY24.
With regards to WeWork, it currently occupies three floors of office space at Suntec City office and has been current in payments so far while its space is seeing healthy utilisation levels (~90%).
Australia office occupancy has been impacted by a key tenant exiting 55 Currie Street, but is expected to improve this year while UK assets are mainly on long-term leases.

Suntec City Mall Saw Strong Rent Reversion Of +21.8%

Suntec City Mall saw strong rent reversion of +21.8% (FY23), indicating healthy recovery post COVID-19 and good leasing efforts by better repositioning the mall to various trade categories. Rent reversion (FY24) is expected to remain strong at 10-15%, based on management guidance.
However, occupancy fell 3.1ppts q-o-q to 95.6% mainly due to the exit of Pure Fitness and Pure Yoga. Management expects to reposition the space for the F& B and entertainment sectors and targets to achieve healthy positive rent reversions on it.
Suntec REIT' s convention segment revenue (FY23) too has exceeded pre COVID-19 levels, with a stronger FY24 on cards.

DPU Forecast & Target Price

We have revised up our FY24F-26F DPU forecast for Suntec REIT by 3-4% by fine tuning our interest costs lower and adjusting rent growth. Our cost of equity is also adjusted lower by 20bps with concerns on gearing now mitigated.
Suntec REIT&rsquo s ESG score of 3.3 (out of 4.0) is two notches above our country median, so we applied a 4% ESG premium to our DDM-derived Suntec REIT' s target price.
The current Suntec REIT' s share price is trading at attractive valuation of > 40% discount to book, and presents a good medium-term entry level.

Vijay Natarajan

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vivacious
Supreme

15-Mar-2024 12:33

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OVERSOLD. Back to 1.1, 1.2 series soon

trentlim ( Date: 14-Mar-2024 17:52) Posted:

still went down to 1.04 anyways

Suntec REIT - RHB Invest 2024-01-25: Operational Strength To Continue Upgrade To BUY

Suntec REIT - Operational Strength To Continue Upgrade To BUY

Upgrade Suntec REIT (SGX:T82U) to BUY from Neutral, with new S$1.35 target price from S$1.20, 10% upside and ~5% yield. Suntec REIT&rsquo s 4Q23 results came in slightly better than expected, backed by strong Singapore operational performance.
Growth outlook for Singapore office and retail portfolio is expected to moderate but remains positive, while the worst is likely over for its overseas portfolio. The market&rsquo s main concerns over Suntec REIT' s low debt hedge position and high gearing should start to assuage with rates peaking.

FY23 DPU Declined 20% Y-O-Y

Suntec REIT' s FY23 DPU declined 20% y-o-y as higher income from Singapore assets was offset by higher financing and operational costs as well as weaker overseas performance. Final DPU includes a capital top-up of S$23m from past divestment gains from Park Mall, and with the entire amount now distributed, no capital top-up is expected in FY24F.

Portfolio Value Rose 0.7% Y-O-Y

Market concerns over valuation decline were unfounded as overall portfolio value of Suntec REIT rose 0.7% y-o-y, aided by Singapore assets which saw 3% valuation uplift mainly from income growth that more than offset the declines in Australia (-5%) and the UK (-10%).
Financing costs rose 90bps y-o-y to 3.84% in FY23 and we expect this to peak this year at ~4.1% in FY24F and fall slightly in FY25F.

Singapore Office Portfolio Continued To Shine

Singapore office portfolio continued to shine, with healthy 99.7% occupancy (+0.2ppt q-o-q) and strong positive rent reversions of 12.3% for FY23. While office rents are expected to moderate, overall rent reversions are expected to be in the positive mid to high-single digits for FY24.
With regards to WeWork, it currently occupies three floors of office space at Suntec City office and has been current in payments so far while its space is seeing healthy utilisation levels (~90%).
Australia office occupancy has been impacted by a key tenant exiting 55 Currie Street, but is expected to improve this year while UK assets are mainly on long-term leases.

Suntec City Mall Saw Strong Rent Reversion Of +21.8%

Suntec City Mall saw strong rent reversion of +21.8% (FY23), indicating healthy recovery post COVID-19 and good leasing efforts by better repositioning the mall to various trade categories. Rent reversion (FY24) is expected to remain strong at 10-15%, based on management guidance.
However, occupancy fell 3.1ppts q-o-q to 95.6% mainly due to the exit of Pure Fitness and Pure Yoga. Management expects to reposition the space for the F& B and entertainment sectors and targets to achieve healthy positive rent reversions on it.
Suntec REIT' s convention segment revenue (FY23) too has exceeded pre COVID-19 levels, with a stronger FY24 on cards.

DPU Forecast & Target Price

We have revised up our FY24F-26F DPU forecast for Suntec REIT by 3-4% by fine tuning our interest costs lower and adjusting rent growth. Our cost of equity is also adjusted lower by 20bps with concerns on gearing now mitigated.
Suntec REIT&rsquo s ESG score of 3.3 (out of 4.0) is two notches above our country median, so we applied a 4% ESG premium to our DDM-derived Suntec REIT' s target price.
The current Suntec REIT' s share price is trading at attractive valuation of > 40% discount to book, and presents a good medium-term entry level.

Vijay Natarajan

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trentlim
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14-Mar-2024 17:52

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still went down to 1.04 anyways

Suntec REIT - RHB Invest 2024-01-25: Operational Strength To Continue Upgrade To BUY

Suntec REIT - Operational Strength To Continue Upgrade To BUY

Upgrade Suntec REIT (SGX:T82U) to BUY from Neutral, with new S$1.35 target price from S$1.20, 10% upside and ~5% yield. Suntec REIT&rsquo s 4Q23 results came in slightly better than expected, backed by strong Singapore operational performance.
Growth outlook for Singapore office and retail portfolio is expected to moderate but remains positive, while the worst is likely over for its overseas portfolio. The market&rsquo s main concerns over Suntec REIT' s low debt hedge position and high gearing should start to assuage with rates peaking.

FY23 DPU Declined 20% Y-O-Y

Suntec REIT' s FY23 DPU declined 20% y-o-y as higher income from Singapore assets was offset by higher financing and operational costs as well as weaker overseas performance. Final DPU includes a capital top-up of S$23m from past divestment gains from Park Mall, and with the entire amount now distributed, no capital top-up is expected in FY24F.

Portfolio Value Rose 0.7% Y-O-Y

Market concerns over valuation decline were unfounded as overall portfolio value of Suntec REIT rose 0.7% y-o-y, aided by Singapore assets which saw 3% valuation uplift mainly from income growth that more than offset the declines in Australia (-5%) and the UK (-10%).
Financing costs rose 90bps y-o-y to 3.84% in FY23 and we expect this to peak this year at ~4.1% in FY24F and fall slightly in FY25F.

Singapore Office Portfolio Continued To Shine

Singapore office portfolio continued to shine, with healthy 99.7% occupancy (+0.2ppt q-o-q) and strong positive rent reversions of 12.3% for FY23. While office rents are expected to moderate, overall rent reversions are expected to be in the positive mid to high-single digits for FY24.
With regards to WeWork, it currently occupies three floors of office space at Suntec City office and has been current in payments so far while its space is seeing healthy utilisation levels (~90%).
Australia office occupancy has been impacted by a key tenant exiting 55 Currie Street, but is expected to improve this year while UK assets are mainly on long-term leases.

Suntec City Mall Saw Strong Rent Reversion Of +21.8%

Suntec City Mall saw strong rent reversion of +21.8% (FY23), indicating healthy recovery post COVID-19 and good leasing efforts by better repositioning the mall to various trade categories. Rent reversion (FY24) is expected to remain strong at 10-15%, based on management guidance.
However, occupancy fell 3.1ppts q-o-q to 95.6% mainly due to the exit of Pure Fitness and Pure Yoga. Management expects to reposition the space for the F& B and entertainment sectors and targets to achieve healthy positive rent reversions on it.
Suntec REIT' s convention segment revenue (FY23) too has exceeded pre COVID-19 levels, with a stronger FY24 on cards.

DPU Forecast & Target Price

We have revised up our FY24F-26F DPU forecast for Suntec REIT by 3-4% by fine tuning our interest costs lower and adjusting rent growth. Our cost of equity is also adjusted lower by 20bps with concerns on gearing now mitigated.
Suntec REIT&rsquo s ESG score of 3.3 (out of 4.0) is two notches above our country median, so we applied a 4% ESG premium to our DDM-derived Suntec REIT' s target price.
The current Suntec REIT' s share price is trading at attractive valuation of > 40% discount to book, and presents a good medium-term entry level.

Vijay Natarajan

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trentlim
Member

14-Mar-2024 17:33

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Suntec REIT' s Property Portfolio Valued at SG$11.9 Billion

24 January 2024

01:45 AM EST, 01/24/2024 (MT Newswires) -- Suntec Real Estate Investment Trust (SGX:T82U) said the portfolio of its investment properties has been valued at roughly SG$11.89 billion as of Dec. 31, 2023.

The independent valuations were carried out by Cushman & Wakefield VHS, Jones Lang LaSalle Advisory Services and Colliers International Property Consultants, according to a Wednesday filing.

The trust' s shares were up nearly 2% in recent trade.

Price (SGD): S$1.22, Change: S$+0.02, Percent Change: +1.67%

vivacious ( Date: 13-Mar-2024 10:48) Posted:

NAV is 2.09. Almost twice the current price

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trentlim
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14-Mar-2024 17:04

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Dropped > 20% from 1.27.. still not enough DPU meh?

right now 6.8% dividend, but I guess it based on 2023 ? When will 2024 dividend be announced ?

few days back when it was 1.12, big lots sold off but huge defenders at 1.05.. but I guess the music has stopped, and the defenders are waiting for prices to stablize before using their bullets bah

Alignment ( Date: 14-Mar-2024 16:34) Posted:

Not due to the board committee change, but due to the fall in distributable income which is likely to continue into 2024.

trentlim ( Date: 14-Mar-2024 16:00) Posted:

Was the recent crash caused by some share movements etc due to this ?

Suntec REIT announces board committee changes

Changes are effective from 13 March.

Suntec Real Estate Investment Trust (Suntec REIT) has announced adjustments to its Nominating and Remuneration Committee (NRC), with the inclusion of Shen Jinchu and Yap Chee Meng as members.

The appointments, effective from 13 March, mark a significant development within the managerial structure of Suntec REIT.

ALSO READ: Suntec REIT&rsquo s distributable income falls 13.3% YoY to $52m in 3Q23

The revised NRC now includes Jinchu and Meng alongside existing members Chan Pee Teck Peter as chairman and Chew Gek Khim, Lock Wai Han, Shen Jinchu, and Yap Chee Meng as members.

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trentlim
Member

14-Mar-2024 16:53

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bot today at 1.05 purly technical play, but my gutt dun feel gd looking at the sell downs

Even with top retail buys.. it managed to sink to 1.05.. I guess insitutions selling to us ?

Top 10 Retail Net Buy (+) Stocks (SGD M)	Week of 4th March 2024	Top 10 Retail Net Sell (-) Stocks (SGD M)	Week of 4 March 2024
SIA	34.8	Yangzijiang Shipbuilding	(16.9)
UOL Group	27.0	Singtel	(12.2)
DBS	20.3	OCBC	(10.2)
SATS	12.7	Frencken Group	(5.7)
Jardine Cycle & Carriage	12.6	ST Engineering	(5.6)
Seatrium	9.7	Wilmar International	(4.0)
Suntec REIT	8.9	Keppel	(4.0)
Mapletree Logistics Trust	8.8	CapitaLand Integrated Commercial Trust	(3.6)
Golden Agri-Resources	7.0	Aztech Global	(2.8)
CapitaLand Investment	6.8	Olam Group	(2.7)

Source: Singapore Exchange

Similarly, CICT was the top REIT disposed of by retail investors during the week.

The REIT saw an SGD3.6 million outflow of retail funds.

Meanwhile, Suntec REIT was the top REIT pick among retail investors during the week.

It saw an SGD8.9 million net inflow of retail funds

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