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Prepare to DCA once it goes below 15cents as it will give a yield of 30% to offset further capital depreciation
20 cts opening tomorrow....for 25 cts otot..
checkmate ( Date: 09-Aug-2023 23:18) Posted:
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Now it's a question of how markets will react to this bad but better than expected results. Has it already been priced in already?
Extracted from Prime Result Announcement Slides
U.S. Office Trends
JLL Research Office Outlook Q2 2023
- Continued bifurcation across U.S. office markets. Tentative green shoots emerging with certain markets stronger than others.
- More than 60% of office vacancy concentrated in 10% of buildings
- Leasing momentum is tentatively improving. U.S. office leasing volume rebounded in 2Q2023, following three consecutive quarters of decline, with leasing activities growing 11.6% quarter-over-quarter (QoQ).
- RTO momentum continues. Office attendance rates trending 9% higher YoY. More companies shifted policies in favor of more office-centric attendance in 2Q202.
- Net absorption showed signs of an inflection point, with negative net absorption slowing 40% QoQ from 20 million sq ft in 1Q2023 to 12.5 million sq ft in 2Q2023.
- Asking rents nationally are continuing to grow, at 0.6% growth QoQ
- A slowing volume of deliveries, increased leasing activity, and accelerated demolitions and conversions of older vintage product are pointing to the increasing likelihood that U.S. office vacancy rates will peak over the near term, and begin to decline in 2024.
Observations on the ground in 2Q2023^
^ based on tour of assets in 2Q2023, includes direct feedback from leasing agents and direct large tenant engagement
- Anecdotal evidence that corporates are continuing to find ways to get people back to office & ndash from encouraging to mandating, they have not given up on this effort
- Several significant tenants at PRIME assets in latest visits have mandated (at least hybrid) return to work & ndash AGG (law firm, Atlanta), Goldman Sachs (financial services, 222 Main), Matheson (industrial gases, Tower 909) and Teleflex (medical tech, Crosspoint)
- While uneven across markets, there will be an inflection point where corporate decisions on RTO will influence others to follow suit
- Leasing activity is showing signs of recovery in several markets & ndash however not consistently deep, and some leasing markets are recovering at a faster pace
- People bring back people & ndash well-amenitized assets and activities at the assets are key & ndash we are on the right track
- Two-way communication with tenants critical & ndash what they need from landlords and what are delivering to them
U.S. Office Trends
JLL Research Office Outlook Q2 2023
- Continued bifurcation across U.S. office markets. Tentative green shoots emerging with certain markets stronger than others.
- More than 60% of office vacancy concentrated in 10% of buildings
- Leasing momentum is tentatively improving. U.S. office leasing volume rebounded in 2Q2023, following three consecutive quarters of decline, with leasing activities growing 11.6% quarter-over-quarter (QoQ).
- RTO momentum continues. Office attendance rates trending 9% higher YoY. More companies shifted policies in favor of more office-centric attendance in 2Q202.
- Net absorption showed signs of an inflection point, with negative net absorption slowing 40% QoQ from 20 million sq ft in 1Q2023 to 12.5 million sq ft in 2Q2023.
- Asking rents nationally are continuing to grow, at 0.6% growth QoQ
- A slowing volume of deliveries, increased leasing activity, and accelerated demolitions and conversions of older vintage product are pointing to the increasing likelihood that U.S. office vacancy rates will peak over the near term, and begin to decline in 2024.
Observations on the ground in 2Q2023^
^ based on tour of assets in 2Q2023, includes direct feedback from leasing agents and direct large tenant engagement
- Anecdotal evidence that corporates are continuing to find ways to get people back to office & ndash from encouraging to mandating, they have not given up on this effort
- Several significant tenants at PRIME assets in latest visits have mandated (at least hybrid) return to work & ndash AGG (law firm, Atlanta), Goldman Sachs (financial services, 222 Main), Matheson (industrial gases, Tower 909) and Teleflex (medical tech, Crosspoint)
- While uneven across markets, there will be an inflection point where corporate decisions on RTO will influence others to follow suit
- Leasing activity is showing signs of recovery in several markets & ndash however not consistently deep, and some leasing markets are recovering at a faster pace
- People bring back people & ndash well-amenitized assets and activities at the assets are key & ndash we are on the right track
- Two-way communication with tenants critical & ndash what they need from landlords and what are delivering to them
I came across article that big US corps are advocating people to return office. This is an eventuality as covid measures were never the norm. I believe employers will have the final say, unless you don' t need the paycheck.
So PrimeUS may be a beneficiary down the road.
Vested.
So PrimeUS may be a beneficiary down the road.
Vested.
Overall, really not as bad as expected, but still it's a pretty significant qoq degradation, especially the occupancy drop is still worrying, if it deepens in the following quarters.
Looking at the nav now makes no sense as there was no new valuation. I would be wary of the next release in valuation 6 months later.
Looking at the nav now makes no sense as there was no new valuation. I would be wary of the next release in valuation 6 months later.
Some inv theory advocates to assess Reits using NTA. At this depressed price vs its NTA, it should be pretty safe. With its declared dpu, is added insurance. I have used 5-10% of my spare cash to buy this at an avg USD0.165
Hope market see this results positively and accord higher valuation.
Vested.
Hope market see this results positively and accord higher valuation.
Vested.
As at Jun 30, the Reit&rsquo s total assets stand at US$1.6 billion. Net asset value per unit was US$0.75.
my errors!
my errors!
superstartup ( Date: 08-Aug-2023 23:29) Posted:
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Nice set of dividends. Infact leverage dropped slightly. Thanks prime, dividends around 36k USD this round.
Not 75c ?
tankoksee ( Date: 08-Aug-2023 22:43) Posted:
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Good job PRIME. Should benefit all the US commercial REITS positively with the reassurances and DPU.
Wow, still got 2.46 cts DPU...beat my very very pessimistic expectations :)
marketuncle ( Date: 25-Jul-2023 08:39) Posted:
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Later after mkt closing result announcement
Big or Small opening tonight !
Big or Small opening tonight !
Temasek disposed of 2.1m shares at average price of 17.5 cents.
Buy high sell low again.
If you are local but not a shareholder, you lose.
If you are a shareholder, you lose.
If you are a local shareholder, you lose two times over.
Buy high sell low again.
If you are local but not a shareholder, you lose.
If you are a shareholder, you lose.
If you are a local shareholder, you lose two times over.
Waiting for Prime result announcement on 8 Aug, analyst briefing on 10 Aug
KepPacOak - bingo !
KepPacOak - bingo !
superstartup ( Date: 24-Jul-2023 21:00) Posted:
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yo wrong way!
Wow~ my average cost is quite high. So I am a little worried that I am over exposed.
Fallingman ( Date: 30-Jul-2023 21:57) Posted:
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Same I have ard 1.5mil shares. Recently added 500k during the 0.16+ dip. Trying to work it up to 2mil shares.
RaoRao ( Date: 27-Jul-2023 15:34) Posted:
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Thanks for the input. I already hold a huge chunk of prime. Thinking of whether to cut lost or hold.
superstartup ( Date: 25-Jul-2023 09:22) Posted:
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break 20 cts..next is 25 cts otw..
tankoksee ( Date: 27-Jul-2023 10:13) Posted:
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