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Should i sell my suntec reit and buy back later? Average 1.36
https://www.businesstimes.com.sg/companies-markets/sea-to-replace-suntec-reit-on-msci-singapore-index
FOLLOWING the results of MSCI' s May 2021 semi-annual index review (SAIR), Singapore-based Sea Ltd is to be included in the MSCI Singapore Index while Suntec Real Estate Investment Trust (Suntec Reit) will be deleted as of the close of May 27, 2021.
This comes after MSCI announced in November 2021 that foreign listings will become eligible for the MSCI Singapore Indices from the May 2021 SAIR, after the Singapore market met the foreign listing materiality requirements.
In a press statement dated Monday, the global index provider named Sea A ADR (Singapore) as one of the three largest additions to the MSCI World Index by full company market capitalisation alongside Volvo A (Sweden) and Palantir Technologies A (US). Sea, which is currently listed on the New York Stock Exchange (NYSE), will be among 109 securities added to the flagship global equity index. Ninety-six other securities will be deleted.
Sea to replace Suntec Reit on MSCI Singapore Index
FOLLOWING the results of MSCI' s May 2021 semi-annual index review (SAIR), Singapore-based Sea Ltd is to be included in the MSCI Singapore Index while Suntec Real Estate Investment Trust (Suntec Reit) will be deleted as of the close of May 27, 2021.
This comes after MSCI announced in November 2021 that foreign listings will become eligible for the MSCI Singapore Indices from the May 2021 SAIR, after the Singapore market met the foreign listing materiality requirements.
In a press statement dated Monday, the global index provider named Sea A ADR (Singapore) as one of the three largest additions to the MSCI World Index by full company market capitalisation alongside Volvo A (Sweden) and Palantir Technologies A (US). Sea, which is currently listed on the New York Stock Exchange (NYSE), will be among 109 securities added to the flagship global equity index. Ninety-six other securities will be deleted.
Yes , should be , just announced so that ' s so active ..funds and institutions doing their own adjustments...
.but I will wait until 27/5 closing to pick durians.....that day hope got magic..,,
.but I will wait until 27/5 closing to pick durians.....that day hope got magic..,,
hokpin ( Date: 12-May-2021 13:13) Posted:
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Is it the reason why the volume so heavy today? If it is so, why not wait till 26 May and kio durian?
Contratrader ( Date: 12-May-2021 10:15) Posted:
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Usually u look out for durians on closing 27/5...last round YZJ ' s durians at 88c...now 146......that was the lowest then...
ZERO99 ( Date: 12-May-2021 10:16) Posted:
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Can buy on 27/5?
Contratrader ( Date: 12-May-2021 10:15) Posted:
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This one downgraded in MSCI 2021 review...have to be careful....effective 27/5 ...see can get durians by then
' Buy' Suntec REIT on better demand for assets potential divestments: RHB
As Singaporeans return to the workplace following the recent relaxation of safe management measures, RHB Group Research analyst Vijay Natarajan believes Suntec REIT will see a boost in demand for its assets.
He maintained his &lsquo buy&rsquo call for the counter with an unchanged target price of $1.79 in an April 15 research note, translating to 14% upside and 6% FY2021 ending December yield.
The government lifted the maximum percentage of staff allowed to return to the office from 50% to 75% beginning April 5, with split teams no longer mandatory.
Natarajan says this bodes well for Suntec REIT&rsquo s Grade-A office space, as more tenants are likely to firm up on their leasing commitments after postponing them due to the COVID-19.
Citing a report by CBRE, he highlights that the office net absorption rate turned positive in 1Q2021 after three negative quarters, with Grade-A property rentals remaining stable q-o-q.
&ldquo Although a recent news report said that DBS is surrendering 75,000 square feet of space in MBFC Tower 3, we believe this has been largely priced in and will not have a direct impact on the REIT&rsquo s performance. For FY2021, we expect its portfolio office occupancy rate to stay high, at around 90% with low- to-mid-positive rental reversions,&rdquo he adds.
On the retail front, Natarajan notes that Suntec City Mall saw new store openings including the 40,000 square feet SuperPark Singapore which reopened under new management on April 9, as well as Singapore&rsquo s largest Lego-certified store and Japanese discount chain store Don Don Donki.
He believes this will drive more crowds to the mall, while the return of office workers will also boost weekday tenant sales.
Management expects the mall occupancy rate to improve to > 95% by end-2021, from 90% in end-2020. Rental rates are, however, expected to remain under pressure, with negative reversions estimated between 8% and 12%.
Natarajan also highlights the REIT is looking to divest some mature assets to mitigate its high gearing, which stands at 44.3%
&ldquo A potential near-term divestment target, in our view, is 9 Penang Road (30% stake) which is valued at $279 million. Separately, Suntec REIT [is] also looking at potential redevelopment options for Southgate Complex, and at repositioning some of its convention space to extract better value,&rdquo he says.
The analyst views the REIT&rsquo s valuation as &ldquo still attractive&rdquo at 0.8 times FY2021 P/B, versus the sector average of 1.2 time
tenants come and go. difficult to say.
business cessations statistics
from jan21 to mar21 total 11400
business formation statistics
from jan 21 to mar 21 total 16355
there are more business being form then cease opearations.
some of these will need office space. retail etc.
business cessations statistics
from jan21 to mar21 total 11400
business formation statistics
from jan 21 to mar 21 total 16355
there are more business being form then cease opearations.
some of these will need office space. retail etc.
Will both Suntec REIT and Keppel REIT affected by DBS decision to give up some office spaces in MBFC ?
beneficiary of covid-19 travel bubble, economic recovery.
definitely not suntec
from sgx web page. " The STI Reserve List (in order of highest market cap) are Frasers Logistics & Commercial Trust, Keppel REIT, Suntec REIT, Frasers Centrepoint Trust and NetLink NBN Trust. Should the Jardine Strategic amalgamation resolution be approved at the EGM, the STI Reserve stock with the highest market cap at the close two days prior to the Index deletion of Jardine Strategic will join the STI."
as of today market close.
frasers l& c 4.6648b
keppel reit 4.2822b
suntec reit 4.3605b
fraser center point trust 4.08b
netlink nbn trust 3.6855b
will there be a push to the pole position?
what happens to reits when the us gov bond auction is over and if interest rate start falling again?
as of today market close.
frasers l& c 4.6648b
keppel reit 4.2822b
suntec reit 4.3605b
fraser center point trust 4.08b
netlink nbn trust 3.6855b
will there be a push to the pole position?
what happens to reits when the us gov bond auction is over and if interest rate start falling again?
this counter like no momentum
Higher office space demand from TMT to benefit Suntec Reit, say analysts
ANALYSTS across four research houses are expecting rising demand for office space from the technology, media and telecommunications (TMT) sector to benefit Suntec Reit as more technology giants look to set up their regional headquarters in Singapore.
UOB Kay Hian and CGS-CIMB both reiterated their " buy" and " add" call respectively, on expectations that the positive rental reversions in the office sector will continue the uptrend in 2021.
CGS-CIMB has raised its target price for Suntec Reit to S$1.76 from S$1.73 previously. In a research note on Tuesday, its analysts said they are optimistic that the Reit will recover in the upcoming FY2021 on the back of a " faster than expected recovery of its retail and convention business from Covid-19 disruptions" .
UOBKH has however downgraded its target price on the Reit to S$1.72 from S$1.75 previously, after trimming its 2021 distribution per unit (DPU) forecast by 3 per cent to 9.2 Singapore cents, due to continued negative rental reversions for Suntec City Mall. In a report on Wednesday, the research house nonetheless highlighted that at the unit price of S$1.55, Suntec Reit is trading at a discount of 25 per cent to its net asset value to share ratio (NAV/share) of S$2.055.
Meanwhile, OCBC Investment Research has raised its fair-value estimate for Suntec Reit to S$1.59 from S$1.57 previously with a " hold" recommendation. This comes as the Reit performed above OCBC analysts' expectations despite the easing of its FY2020 DPU by 22.1 per cent to 7.4 Singapore cents.
" Looking ahead, we expect (Suntec Reit' s) retail segment to continue its gradual but uneven recovery. Its convention segment' s performance will continue to be adversely impacted by the Covid-19 pandemic," said the analysts in a report on Tuesday.
They also expect the Reit' s office portfolio to achieve positive rental reversions, although at a smaller magnitude as compared to FY2020. In particular, they believe growth in the trust' s office portfolio in Australia will be underpinned by firm occupancy and long weighted average lease expiry despite the risk of a volatile Australian dollar.
On the other hand, Maybank Kim Eng has maintained its " sell" call on the Reit, slightly lowering its target price to S$1.19 from S$1.20 previously amid expectations of weak operational metrics in Singapore.
Citing the management' s view that rental reversions will remain negative in 2021, Maybank KE analyst Chua Su Tye noted that the Reit' s gearing remains the highest among its peers, foreseeing an overhang from a potential dilutive equity raise as the trust continues to pursue acquisition opportunities.
" Suntec Reit is keen on asset recycling to further lower gearing, but we see a neutral DPU impact given weak pricing power in this cycle," said Mr Chua.
DBS Recommended buy with $1.85 TP
Suntec REIT : BUY
Last Traded Price: S$1.55 Price Target (12-mth): S$1.85 (Upside 19.4%)
FY20 results
&bull FY20 DPU declined 22.1% y-o-y to 7.40Scts as COVID-19 outbreak affected both the retail and convention businesses
&bull Portfolio occupancy at its Singapore assets declined (office -1.4ppts to 96.7% retail -3.2ppts to 90.2%) while occupancy at its Australian properties remained stable
&bull Suntec recorded rental reversion of +7.7% in FY20 and management expects FY21 rental reversions to remain positive given low expiring rents
&bull We are expecting potential downsizing and vacancy risks in its office portfolio, but occupancy should remain at the mid-90% level (currently 95.6%)
Suntec REIT : BUY
Last Traded Price: S$1.55 Price Target (12-mth): S$1.85 (Upside 19.4%)
FY20 results
&bull FY20 DPU declined 22.1% y-o-y to 7.40Scts as COVID-19 outbreak affected both the retail and convention businesses
&bull Portfolio occupancy at its Singapore assets declined (office -1.4ppts to 96.7% retail -3.2ppts to 90.2%) while occupancy at its Australian properties remained stable
&bull Suntec recorded rental reversion of +7.7% in FY20 and management expects FY21 rental reversions to remain positive given low expiring rents
&bull We are expecting potential downsizing and vacancy risks in its office portfolio, but occupancy should remain at the mid-90% level (currently 95.6%)
Seems like it is heading for a bull run
Suntec Reit posts 3.7% fall in DPU to 2.261 S cents for Q4
SUNTEC Real Estate Investment Trust (Suntec Reit) posted on Tuesday a 3.7 per cent fall in distribution per unit (DPU) to 2.261 Singapore cents for the fourth quarter compared with 2.347 cents for the year-ago period.
Gross revenue fell 12 per cent at S$165.9 million for H2, compared to S$188.7 million a year ago. This was due to a fall in rental income, most significantly from its office and retail properties such as Suntec Singapore, for which revenue fell by 65.9 per cent.
The gains from 55 Currie street, 177 Pacific Highway, 21 Harris Street and newly completed property Olderfleet at 477 Collins street were offset by the fall in revenue from Suntec City and Suntec Singapore.
The net property income (NPI) for H2 FY2020 was S$109.0 million, S$12.7 million or 10.4 per cent lower year on year, mainly attributable to rent assistance granted to Suntec City retail tenants and lower occupancy at Suntec Singapore.
Distributable income dipped 19.8 per cent to S$106.1 million for H2, from S$132.2 million last year.
Unitholders will receive a total DPU of 4.109 cents, which includes the S$10.3 million distributable income that the Reit retained in the first half of FY2020.
The distribution will be paid out on Feb 26, after books closure on Feb 3.
Full-year DPU was 22.1 per cent lower at 7.402 cents, down from 9.507 cents in 2019. Distributable income for the year was 20.4 per cent lower at S$209.2 million, from S$262.7 million the previous year. Gross revenue was 14 per cent lower at S$315.4 million, while NPI eased 15.4 per cent to S$199.9 million for the full year.
The Reit expects a stable recovery for the office sector in 2021 as workers begin to return to offices with a hybrid working arrangement.
A slow recovery is to be expected in the retail sector, supported largely by domestic consumption, the manager said, while convention revenue will continue to see a downward pressure due to weak international travel.
Noting the national lockdown in the UK, the manager reassured that its UK office portfolio &ldquo will remain resilient underpinned by full occupancy, long weighted average lease expires and no lease expiry until 2027&rdquo .
NOTICE OF RECORD & DISTRIBUTION PAYMENT DATE
NOTICE IS HEREBY GIVEN that the Transfer Books and Register of Unitholders of Suntec Real Estate Investment Trust (&ldquo Suntec REIT&rdquo ) will be closed at 5.00 p.m. on 3 February 2021 being the Record Date for the purpose of determining unitholders' entitlements to Suntec REIT&rsquo s distribution. Suntec REIT has announced a distribution of 2.261 cents per unit in Suntec REIT (&ldquo Unit&rdquo ) for the period of 1 October 2020 to 31 December 2020 (the &ldquo Distribution&rdquo ), comprising a taxable income component of 1.614 cents per unit and a tax-exempt income component of 0.647 cents per unit.
ex date 2-2-2021
Pay Date 26/02/2021
NOTICE IS HEREBY GIVEN that the Transfer Books and Register of Unitholders of Suntec Real Estate Investment Trust (&ldquo Suntec REIT&rdquo ) will be closed at 5.00 p.m. on 3 February 2021 being the Record Date for the purpose of determining unitholders' entitlements to Suntec REIT&rsquo s distribution. Suntec REIT has announced a distribution of 2.261 cents per unit in Suntec REIT (&ldquo Unit&rdquo ) for the period of 1 October 2020 to 31 December 2020 (the &ldquo Distribution&rdquo ), comprising a taxable income component of 1.614 cents per unit and a tax-exempt income component of 0.647 cents per unit.
ex date 2-2-2021
Pay Date 26/02/2021
Loaded yesterday at $1.53 and will hold for some time. Trend is back to very healthy bullish set. All short-term MAs are above long-term MAs. Looking forward to a steady climbing up back to 1.80 range.