Post Reply
1721-1740 of 1859
Thanks for sharing but I suspect the rebound today was because of spillover effect on MUST... rather than investors from Tiger platform?
SmallSmall ( Date: 23-May-2023 20:35) Posted:
|
Corporate Presentation
https://links.sgx.com/1.0.0/corporate-announcements/5A47SQD27XEP5HDN/760145_Corporate%20Presentation%20to%20Tiger%20Brokers.pdf
https://links.sgx.com/1.0.0/corporate-announcements/5A47SQD27XEP5HDN/760145_Corporate%20Presentation%20to%20Tiger%20Brokers.pdf
Good luck to those vested
Latest Analysts Target Price
(issued after recent result)
UOB KH 19 May 2023 - TP 61c
Phillips 15 May 2023 - TP 46c
RHB 11 May 2023 - TP 57c
DBS 11 May 2023 - TP 33c
Average - TP 49.25c
From UOB KH : Maintain BUY. Target price: US$0.61. Valuation is attractive with 2024 distribution yield at 17.4% and P/NAV at 0.44x.
(issued after recent result)
UOB KH 19 May 2023 - TP 61c
Phillips 15 May 2023 - TP 46c
RHB 11 May 2023 - TP 57c
DBS 11 May 2023 - TP 33c
Average - TP 49.25c
From UOB KH : Maintain BUY. Target price: US$0.61. Valuation is attractive with 2024 distribution yield at 17.4% and P/NAV at 0.44x.
Next to rebound :) $0.25 minimum :)
To follow Manulife Reit up soon?
UOB KH
Prime US REIT (PRIME SP) BUY
1Q23 - Resiliency From Diversified Tenant Mix Bombed-out Valuations
Analysts: Jonathan Koh, CFA, MSc Econ Tel: (65) 6590 6620
We factor in potential valuation losses and the cost to reduce gearing to correctly appraise the valuation for PRIME. We estimate fair value of investment properties to drop 10% and aggregate leverage to hit 48% at end-23. PRIME could raise US$145m through a 1,000:873 rights issue with issue price at US$0.14 (33% discount) to lower aggregate leverage to 38%.
Maintain BUY. Target price: US$0.61. Valuation is attractive with 2024 distribution yield at 17.4% and P/NAV at 0.44x.
Prime US REIT (PRIME SP) BUY
1Q23 - Resiliency From Diversified Tenant Mix Bombed-out Valuations
Analysts: Jonathan Koh, CFA, MSc Econ Tel: (65) 6590 6620
We factor in potential valuation losses and the cost to reduce gearing to correctly appraise the valuation for PRIME. We estimate fair value of investment properties to drop 10% and aggregate leverage to hit 48% at end-23. PRIME could raise US$145m through a 1,000:873 rights issue with issue price at US$0.14 (33% discount) to lower aggregate leverage to 38%.
Maintain BUY. Target price: US$0.61. Valuation is attractive with 2024 distribution yield at 17.4% and P/NAV at 0.44x.
Analysts lower Prime US Reit&rsquo s target price, expect earnings to stabilise
ANALYSTS have lowered their target prices for Prime US Reit : OXMU +2.44% amid a fluctuation in occupancy and higher management fees paid in cash.
DBS Group Research reduced the real estate investment trust&rsquo s (Reit) target price to US$0.33 from US$0.63, while RHB lowered it to US$0.57 from US$0.67.
Both brokerages on Thursday (May 11) maintained &ldquo buy&rdquo calls on the counter.
DBS analysts noted that Prime US Reit&rsquo s estimated headline distribution per unit for Q1 fell 30 per cent year on year to US$0.0125, below the brokerage&rsquo s estimates.
This was largely due to the Reit raising management fees paid in cash to 100 per cent, from 20 per cent previously, they said.
The Reit reported a fall in portfolio occupancy to 88.6 per cent, from 89.1 per cent the previous quarter, and negative rental reversions of 2.6 per cent.
Though occupancy is likely to have slight fluctuations due to tenant movements, RHB analyst Vijay Natarajan expects it to remain above 85 per cent with slight positive rental reversions.
He also noted that the Reit has no refinancing due until 2024 and remains well within its loan covenant.
DBS believes Prime US Reit has a well-diversified portfolio of Class A US office assets. The brokerage noted that it is set to benefit from &ldquo return-to-office trends in the US&rdquo , although recovery might be rocky.
The Reit on Wednesday posted a 22.5 per cent fall in distributable income to US$14.9 million for the first quarter of 2023, from US$19.2 million the previous year.
Despite the potential impact of inflation and higher interest costs on earnings, DBS noted that these headwinds are expected. It anticipates earnings to stabilise from its FY2023 forecasts.
The brokerage added that the Reit currently trades at 0.3 times its net asset value &ndash below the pandemic trough in March 2020 &ndash and offers a forecast FY2023 yield of 20 per cent.
&ldquo At the current price level, we believe the headwinds are largely priced in, and the stock is at an interesting level to monitor for any potential short-term inflexion in macroeconomic sentiment,&rdquo said DBS analysts.
The US is an awfully big place. We have seen the population of downtown core cities (such as Portland, NYC, LA, Chicago, San Francisco) impacted since the pandemic, increase in housing cost, gun violence, car jacking, crime, etc. But remember that just as there is population displacement, people need go elsewhere. When it comes to commercial real estate, you have to be a little thoughful about these things e.g. type of properties being held (Class A, B or C), their city locations, possibility of suspension or reversal of the rate hikes, etc.
Buy more to keep.
Market' s reaction seems quite extreme...? Will this be the next MUST to break below 20c psychological barrier?
Joelton ( Date: 11-May-2023 09:08) Posted:
|
Prime US Reit Q1 net property income down 7.2% to US$23.6 million
PRIME US Reit : OXMU -2.08% posted a 7.2 per cent fall in net property income to US$23.6 million for its first quarter ended Mar 31, 2023, from US$25.4 million the year before.
Gross revenue for the quarter dropped 1.7 per cent to US$40.2 million, from US$40.8 million, said the real estate investment trust (Reit) manager in a business and operational update on Wednesday (May 10).
Distributable income in Q1 slipped 22.5 per cent to US$14.9 million, from US$19.2 million in the year-ago period.
In terms of leasing activity, Prime US Reit booked a total of 64,400 sq ft leased at a negative rental reversion of 2.6 per cent, impacted by two renewals requiring minimal upfront capital expenditure, but with positive net effective rent reversion.
The Reit&rsquo s portfolio has a weighted average lease expiry of 3.9 years, with a debt headroom of US$200 million at a leverage limit of 43.7 per cent.
In its update, the Reit manager said it has a &ldquo well-diversified portfolio, both in terms of assets and cities&rdquo , and strategic footprints in &ldquo non-gateway affordable cities with individual merits&rdquo .
It noted that rent growth continues to be positive, albeit with increased lease incentives amid relative scarcity of high-quality direct space.
The manager also identified move-in ready spaces as an &ldquo increasingly attractive&rdquo asset, given the reluctance of both sublessors and landlords to fund the upfront capital expenditure associated with build-outs.
Think Maple Ind and Acendas reit going to drop next as both also expose to US !
Assuming the dividend drop by 50%, i still get back my full capital in 10 years time (10% yield). Hope downside is taking care of and able to enjoy the potential upside.
n3wbie ( Date: 10-Apr-2023 21:04) Posted:
|
Unsure if the yield is sustainable at 20%... also how are they going to grow even current gearing and how would they be able to undertake accretive acquisitions?
asianguy ( Date: 03-Apr-2023 11:04) Posted:
|
Bought some to average down my cost last Friday at 31 cents.
With 20% dividend yield now, I hope to get back my capital in 5 years time.
With 20% dividend yield now, I hope to get back my capital in 5 years time.
Seems like its KORE' s turn today...
fatpig ( Date: 28-Mar-2023 07:19) Posted:
|
Investors Seek to Pull $20 Billion From Core Real Estate Funds
There have been material concerns on the US commercial real estate sector in recent weeks. Goldman Sachs and JPM have last week also issued some sector reports last week the outline the same - one major concern is commercial mortgate based securities. Not sure if it is directly related to the share price performance of Prime but suffice to say that funds are pretty spooked about the sector in the US.
asianguy ( Date: 27-Mar-2023 18:50) Posted:
|
Everyday dropping. Today drop another 3 cents to 30.5 cents..
Anyone know what happen ?
Anyone know what happen ?