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Break 140 first. Go back 165
UOB also bullish alot meat to 45cents 🤑 🤑 🤑
SmallSmall ( Date: 26-Feb-2024 10:39) Posted:
https://research.uobkayhian.com/content_download.jsp?id=77442& h=e38942fd08ba0de5ff9fcee972ba481f
For those interested
Prime US REIT (PRIME SP) BUY
2H23: Preserving Capital But Charting A Unique Course Of Action
Analysts: Jonathan Koh, CFA Tel: (65) 6590 6620
- Portfolio occupancy inched up 0.4ppt qoq to 85.4% in 4Q23. Leasing momentum has picked up and significant leasing discussions are underway for Park Tower and One Washingtonian Center. PRIME retained US$25.6m and payout ratio was only 10.4% in 2H23 to preserve capital.
- Management targets to execute up to US$100m of deleveraging in 2024.
- Maintain BUY. Target price: US$0.45. Valuation is attractive with distribution yield at 20% for 2024 and 42% for 2025 and P/NAV at 0.22x.
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Phillip so bullish on prime? Now 133, a lot of meat to 300 la!
See can kiss 140 before lunch anot.. hehehe. Panick sell finish soon
@PhillipCapital
PRIME US REIT &ndash No breach, but refinancing risks persist
Recommendation: BUY (Maintained), Last Done: US$0.132
Target price: S$0.30, Analyst: Darren Chan
-FY23 DPU of 2.71 US cts (-58.6% YoY) was below our estimates due to Prime paying only 0.25 US cts in 2H23 (c.10% of 2H23 distribution) to preserve capital for capex needs. Assuming a 100% payout ratio, FY23 DPU of 4.86 US cts would have aligned with our FY23e forecast at 99%. Prime also announced a 1-for-10 bonus issue (c.43% of 2H23 DI), translating to a value of 1.03 US cts, based on a unit price of US$0.103.
-The YoY decline in FY23 distributable income (-25%) was due to Prime increasing management fees paid in cash from 20% to 100%, higher interest expense, and lower portfolio occupancy. Excluding the change in management fees paid in cash, distributable income is down 18.9% YoY. Portfolio valuations fell 8.7%, taking gearing to 48.4%, just under the MAS limit of 50%.
-Maintain BUY, DDM-TP lowered from US$0.37 to US$0.30 as we roll over our forecasts. FY24e DPU estimate lowered by 77% after factoring in the enlarged share base from the bonus issue, a lower portfolio occupancy, and a payout ratio of 25%. The key risk entails refinancing US$478mn (68% of total) debt under its main credit facility expiring in July 24, though management has expressed confidence in their ability to do so. Prime is now focusing on deleveraging and has set a target to execute US$100mn of deleveraging in 2024. Assuming a 25% payout ratio in FY24e, the current share price implies an FY24e DPU yield of 8%. Prime is currently trading at 0.22x P/NAV.
https://www.stocksbnb.com/reports/prime-us-reit-no-breach-but-refinancing-risks-persist/
https://research.uobkayhian.com/content_download.jsp?id=77442& h=e38942fd08ba0de5ff9fcee972ba481f
For those interested
Prime US REIT (PRIME SP) BUY
2H23: Preserving Capital But Charting A Unique Course Of Action
Analysts: Jonathan Koh, CFA Tel: (65) 6590 6620
- Portfolio occupancy inched up 0.4ppt qoq to 85.4% in 4Q23. Leasing momentum has picked up and significant leasing discussions are underway for Park Tower and One Washingtonian Center. PRIME retained US$25.6m and payout ratio was only 10.4% in 2H23 to preserve capital.
- Management targets to execute up to US$100m of deleveraging in 2024.
- Maintain BUY. Target price: US$0.45. Valuation is attractive with distribution yield at 20% for 2024 and 42% for 2025 and P/NAV at 0.22x.
Next uptrend coming.. hehehe
piscesmonkey ( Date: 26-Feb-2024 09:01) Posted:
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Chiong ah🚀
Nah, close will be below 12.6
piscesmonkey ( Date: 23-Feb-2024 15:57) Posted:
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Shorting cover soon 🚀
V astute. But ppl r shorting still.
That buy order could magically , disappear. Anytime.
Caesar ( Date: 23-Feb-2024 14:46) Posted:
Maybe it is that 'd' guy waiting from 118 to 120 to pick up his 1500 lots ...
Caesar ( Date: 23-Feb-2024 14:29) Posted:
| Low can go lower ... some would say entry below 120 would be even better ... there are big queues waiting from118 to 120 ... genuine buyers or short covering? Make your guess .. |
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Maybe it is that 'd' guy waiting from 118 to 120 to pick up his 1500 lots ...
Caesar ( Date: 23-Feb-2024 14:29) Posted:
Low can go lower ... some would say entry below 120 would be even better ... there are big queues waiting from118 to 120 ... genuine buyers or short covering? Make your guess ...
Midtermer ( Date: 23-Feb-2024 14:18) Posted:
| I think 130 is still good entry considering the worst is over for now. Let' s watch the closing later. Cheer |
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Sure! Wait another 6 months. Although I doubt you would hold that long ...
piscesmonkey ( Date: 23-Feb-2024 14:32) Posted:
| Once cut interest rate this year. All 3 US reits will chiong up liao. |
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Once cut interest rate this year. All 3 US reits will chiong up liao.
Low can go lower ... some would say entry below 120 would be even better ... there are big queues waiting from118 to 120 ... genuine buyers or short covering? Make your guess ...
Midtermer ( Date: 23-Feb-2024 14:18) Posted:
I think 130 is still good entry considering the worst is over for now. Let' s watch the closing later. Cheers
Caesar ( Date: 23-Feb-2024 14:01) Posted:
| You are deluding yourself ... tons of sellers que'ing from 129 to 141. Someone once said dont trade the same stock everyday. Or else you will lose all your profits ... you probably got carried away with your BIG profits from PRIME in the last 1 week. Anyway, good luck |
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Ya, go go go PRIME
piscesmonkey ( Date: 23-Feb-2024 14:22) Posted:
Since prime so cheap now. Later chiong up not cheap liao 🤑 🤑 🤑
Caesar ( Date: 23-Feb-2024 14:21) Posted:
| You are in luck. Someone just bought up everyrhing from 128 to 130. Hopefully they continue to buy all the way to 150. Then you can make away with another USD2K ... hah |
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Since prime so cheap now. Later chiong up not cheap liao 🤑 🤑 🤑
Caesar ( Date: 23-Feb-2024 14:21) Posted:
You are in luck. Someone just bought up everyrhing from 128 to 130. Hopefully they continue to buy all the way to 150. Then you can make away with another USD2K ... haha
piscesmonkey ( Date: 23-Feb-2024 13:18) Posted:
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You are in luck. Someone just bought up everyrhing from 128 to 130. Hopefully they continue to buy all the way to 150. Then you can make away with another USD2K ... haha
piscesmonkey ( Date: 23-Feb-2024 13:18) Posted:
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See going chiong up soon. Buyer start to come.
Midtermer ( Date: 23-Feb-2024 14:18) Posted:
I think 130 is still good entry considering the worst is over for now. Let' s watch the closing later. Cheers
Caesar ( Date: 23-Feb-2024 14:01) Posted:
| You are deluding yourself ... tons of sellers que'ing from 129 to 141. Someone once said dont trade the same stock everyday. Or else you will lose all your profits ... you probably got carried away with your BIG profits from PRIME in the last 1 week. Anyway, good luck |
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I think 130 is still good entry considering the worst is over for now. Let' s watch the closing later. Cheers
Caesar ( Date: 23-Feb-2024 14:01) Posted:
You are deluding yourself ... tons of sellers que'ing from 129 to 141. Someone once said dont trade the same stock everyday. Or else you will lose all your profits ... you probably got carried away with your BIG profits from PRIME in the last 1 week. Anyway, good luck.
piscesmonkey ( Date: 23-Feb-2024 13:18) Posted:
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