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661-680 of 758
Should be fine for those who got in earlier
Yield not attractive for Suntec REIT at current price.
http://mystocksinvesting.com/singapore-reits/singapore-reit-fundamental-analysis-comparison-table-14-dec-2014/
Being to Suntec City again yesterday after such a long time and noticed it was nicely done up and with many more new eateries and restaurants. Especially like the basement fountain area where many nice and cosy eateries are located for one to have a nice meal and chit-chat while viewing the fountain outside. Brought back many of my teenager memories before Suntec was renovated.
From investment point of view, i think it makes a good investment because Suntec is one of our most iconic shopping malls and located at the heart of our city. 2 new Circle Line Mrt Stations are also opened which makes it more accessible. The whole place after renovation also looks more spacious and cosy at the same time, with many more new tenants and fashion stores, small-bites and eatery stores, restaurants, etc...
But technically, does it seem too high to enter? Am personally thinking of entering if it can retrace to 1.86. Any advice??
Suntec REIT will be included in the MSCI Singapore Index, following a semi-annual review by the global market index provider.
Suntec takes the place of Olam International, which has been dropped.
Four companies made it to the MSCI Singapore Small-Cap Index. They are Accordia Golf Trust, Frasers Hospitality Trust, Japfa and PACC Offshore Services.
They replace Keppel Infrastructure Trust, Stamford Land, Suntec REIT and Swiber Holdings.
The changes take effect from the close of trading on Nov 25.
what happened?
ANyone can decode how suntec perform over this 3Q FY14? After so long waiting only up 1.7%?! Will investor shift their funds else where?
SINGAPORE (Oct 21): Suntec Real Estate Investment Trust (Suntec REIT), has announced a distribution per unit (DPU) of 2.328 cents for 3Q FY14 ended Sept, says manager ARA Trust Management (Suntec).
This is 1.7% higher than the DPU of 2.289 cents announced a year ago in 3Q FY13.
For 3Q FY14, Suntec REIT&rsquo s gross revenue came in at $71.5 million, 8.5% higher than a year ago.
This was mainly due to the opening Phase 2 of Suntec City mall following the completion of the AEI works compared to 3Q FY13.
Net property income came in 21.1% higher at $48.8 million led by the opening of Suntec City Phase 1 and Phase 2.
Total distribution income came in at $58.3 million, up 12.4% from a year ago.
As at Sept 30, debt-to-asset ratio stood at 34.4%.
Yeo See Kiat, Chief Executive Officer of ARA Trust Management (Suntec), says &ldquo Our current priorities are to focus on the execution and completion of the remaking of Suntec City, the marketing of Phase 3 as well as proactive lease management to strengthen the lease commitments and maintain the high occupancy levels of both our office and retail portfolios.&rdquo
Suntec REIT closed the day 0.3% higher at $1.80.
hmm... seem like FA and TA both got the same picture.
http://www.theedgemarkets.com/sg/article/suntec-reit-downgraded-%E2%80%98sell%E2%80%99-deutsche-165-price-target
SINGAPORE (Oct 16): Deutsche Bank Market Research has downgraded Suntec REIT to &ldquo sell&rdquo with a price target of $1.65, given that its valuations are at a premium.
With office constituting more than 60% of its portfolio, Suntec REIT has enjoyed the recovery and growth in the office market in Singapore, while carrying out its major AEI to remake the retail component of Suntec City.
AEI completion, together with near-term strength in the office market, should drive its DPU growth, says Deutsche.
In fact, the research house now sees downside risk, given its below-consensus DPU estimates versus the market&rsquo s strong growth expectation and its-above average valuation.
With the ramp-up of Suntec City AEI, set to be completed in 4Q14, and the recent acquisition in Australia, Deutsche is forecasting 8% and 5% DPU growth for FY15 and FY16, respectively.
The street, however, is looking at even higher growth, of 11% and 6%, respectively.
But with a still challenging retail operating environment and a gestation period for new openings, in addition to a peaking office market, there are more risks on the downside.
dropping lo! Anyone hop in?
Coming down soon lo. Anyone?
I prefer Maple GCCT.Upside is better.Strong growth going forward.Conservative TP1.05.Solid high yield.
john_ric ( Date: 12-May-2014 22:42) Posted:
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. look like suntec can reach $1.80 or higher,
Interest rate expected to rise only middle of next year to plenty of time more
john_ric ( Date: 12-May-2014 13:47) Posted:
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..
notice this and many other REIT counters are inching up.
Thought interst rate up soon ??
ANNOUNCEMENT
The Straits Trading Company Limited wishes to announce that Straits Real Estate Pte. Ltd., a subsidiary of the
Company, has, pursuant to a series of transactions, purchased from the open market an
aggregate number of 35,068,000 units in Suntec Real Estate Investment Trust (&ldquo
, representing approximately 1.4% of the Units..
No wonder today sunT price up.
Suntec Reit (AD, TP:S$1.83) - The signs of strength
Target S$1.20 (Stock Rating: ADD)
SUN kept its DPU unchanged yoy at 2.2 cts (25% of our full-year forecast) in 1Q14 despite strong revenue growth of 32.8% yoy. The strong growth, which was in line with our estimate, came mainly from the opening of Suntec Singapore following the completion of Phase 1 of the AEI. We stress that the DPU being paid comes entirely from organic contribution, i.e. there is no dipping into the capital pool. We maintain our Add rating with an unchanged DDM-based (discount rate: 8.0%) target price of S$1.83 on the back of further income contribution from the upcoming Phase 2 of AEI at Suntec City.
Phase 2 of Suntec AEI
Phase 2 of the AEI (scheduled to open before the end of 2Q14) registered a strong 95.0% pre-committed occupancy as at 31 March though we speculate that it is closer to full occupancy at the moment. During the results briefing, management indicated that the AEI remains on track for a 10.1% ROI, securing an average rental rate of S$12.69 psf/mth for Phases 1 and 2. Based on our calculations, this translates into an average passing rent of c.S$12.15 psf/mth for Phase 2, a level which we deem fair given that the majority of Phase 2 tenants are non-fashion tenants who usually pay lower rental rates.
No financing requirements until 2016
In terms of its financing needs, SUN has fully refinanced all the debts in FY14 and FY15 via a recently secured S$800m, 5-year loan facility together with the proceeds from the recent S$350m placement. With no further risks in financing, together with a low all-in financing cost of 2.49% and 65% of total debt subject to a fixed rate, we believe that SUN is well-shielded from any upcoming hike in interest rates. Furthermore, barring any future potential acquisitions, we believe that capital raising is unlikely.
Maintain Add on bright prospects
Looking ahead, Phase 2 AEI will begin to contribute in 3Q14. Marketing for Phase 3 (scheduled to complete in 4Q14) has also commenced and, based on our background checks, is relatively well received by potential tenants. In addition, with further room for positive rental reversion in its office portfolio, coupled with the commencement of coupon payment from Leighton Tower, we maintain an Add rating with an unchanged target price of S$1.83.
Phase 2 of the AEI (scheduled to open before the end of 2Q14) registered a strong 95.0% pre-committed occupancy as at 31 March though we speculate that it is closer to full occupancy at the moment. During the results briefing, management indicated that the AEI remains on track for a 10.1% ROI, securing an average rental rate of S$12.69 psf/mth for Phases 1 and 2. Based on our calculations, this translates into an average passing rent of c.S$12.15 psf/mth for Phase 2, a level which we deem fair given that the majority of Phase 2 tenants are non-fashion tenants who usually pay lower rental rates.
No financing requirements until 2016
In terms of its financing needs, SUN has fully refinanced all the debts in FY14 and FY15 via a recently secured S$800m, 5-year loan facility together with the proceeds from the recent S$350m placement. With no further risks in financing, together with a low all-in financing cost of 2.49% and 65% of total debt subject to a fixed rate, we believe that SUN is well-shielded from any upcoming hike in interest rates. Furthermore, barring any future potential acquisitions, we believe that capital raising is unlikely.
Maintain Add on bright prospects
Looking ahead, Phase 2 AEI will begin to contribute in 3Q14. Marketing for Phase 3 (scheduled to complete in 4Q14) has also commenced and, based on our background checks, is relatively well received by potential tenants. In addition, with further room for positive rental reversion in its office portfolio, coupled with the commencement of coupon payment from Leighton Tower, we maintain an Add rating with an unchanged target price of S$1.83.
Source: CIMB Daybreak
Suntec REIT - All eyes on Suntec City AEI
1Q14 results in line No DPU top-up for the first quarter since 4Q12.
Average rent for Phase 1 and 2 AEI hit SGD12.69 psf/mth, above original target of SGD12.59 psf/mth.
Maintain HOLD with a higher DDM-derived TP of SGD1.70.
Results in line with expectations
Suntec REIT' s 1Q14 DPU of 2.23 SGD cts marked a 13% QoQ contraction but flat YoY. The decline was mainly due to the absence of capital distribution from the sales proceeds of Chijmes (additional 0.120 SGD cts in 1Q13 and 0.175 SGD cts in 4Q13) and income loss following the start of Phase 3 AEI at Suntec City. Stripping out the top-up, 1Q14 DPU would have shrunk 6.6% QoQ but up 5.7% YoY. Suntec received cash proceeds of ~SGD147m from the sale of Chijmes in 1Q12. So far, management has topped up SGD19m in FY13 and did not rule out top-ups for the remainder of FY14. A SGD800m loan facility at a margin of 100+bps has been secured, extending its debt maturity to 4.2 years (4Q13: 2.44 years). This means no refinancing need for Suntec until 2016. Following its SGD350m private placement in March last year and loan reduction, gearing slid to 35.1% in 1Q14 from 38.4% in 4Q13.
Suntec City AEI on track
Following the completion of Phase 1 AEI, Suntec achieved 100% occupancy rate (4Q13: 99.6%), while 95% of Phase 2 NLA has been pre-committed (4Q13: 97%). Phase 2 will open in two stages before 31 Jun 2014, with GV cinema to start at the later phase. The combined average rent committed for both phases reached SGD12.69 psf/mth, above management' s original target of SGD12.59 psf/mth. We adjust our FY14E-16E DPU by 1.9-3.4% on revised rental assumptions and interest cost savings. This translates to a three-year FY13-16E CAGR of 3.4%. Maintain HOLD with a higher DDM-derived TP of SGD1.70 (previously SGD1.63).
Source: Maybank Kim Eng Research ...last:$1.725...
Suntec REIT has been running up too fast. IMO Not attractive to enter at this price now.
http://mystocksinvesting.com/singapore-stocks/suntec-reit/suntec-reit-still-attractive-to-chase-the-price/
Suntec: Raised $350m of equity on 19 Mar, raising free float market cap to $3.9b following it&rsquo s a$413m acquisition of 177 Pacific Highway in North Sydney in 4Q13. It is now the 2nd most liquid S-REIT. Gearing is expected to fall to 34% post equity raising, before rising to ~36% upon the expected completion of 177 Pacific Highway in 2016. StanChart thinks that Suntec REIT might buy Straits Trading Building in 2014 using debt, which will be neutral to the house. StanChart maintains O/PF on Suntec with slightly reduced TP to $1.83 from $1.88.
ISSUE OF 218,069,000 NEW UNITS IN SUNTEC REIT PURSUANT TO THE PLACEMENT
1. Introduction
Further to its announcements dated 18 March 2014, 19 March 2014 and 24 March 2014 in
relation to the placement of 218,069,000 new units (?New Units?) in Suntec REIT at an
issue price of S$1.605 per New Unit (the ?Private Placement?), the Board of Directors of
ARA Trust Management (Suntec) Limited, in its capacity as manager of Suntec REIT (the
?Manager?), wishes to announce that the Manager has issued the New Units. With the
issue of 218,069,000 New Units, the total number of Units in issue is 2,488,608,850 as at
the date of this announcement. The New Units will commence trading on the Main Board
of Singapore Exchange Securities Trading Limited (the ?SGX-ST?) at 9.00 a.m. on 27
March 2014.
2. Status of the Private Placement New Units
The New Units issued pursuant to the Private Placement will, upon issue, rank pari passu
in all respects with the Units in issue immediately prior to the issue of the New Units
(?Existing Units?), other than in respect of the Advanced Distribution (as defined herein).
Suntec REIT?s policy is to distribute its distributable income on a quarterly basis to its
unitholders (?Unitholders?). In connection with the Private Placement, the Manager
however has declared, in respect of the Suntec REIT counter, a distribution of the
distributable income for the period from 1 January 2014 to 26 March 2014 (the ?Advanced
Distribution?).
2
The next distribution thereafter will comprise Suntec REIT?s distributable income for the
period from 27 March 2014 to 31 March 2014. Quarterly distributions will resume
thereafter.
The Advanced Distribution is intended to ensure that the distributable income accrued by
Suntec REIT up to and including 26 March 2014 (which at this point, will be entirely
attributable to the Existing Units) is only distributed in respect of the Existing Units, and is
being proposed as a means to ensure fairness to holders of the Existing Units.
1. Introduction
Further to its announcements dated 18 March 2014, 19 March 2014 and 24 March 2014 in
relation to the placement of 218,069,000 new units (?New Units?) in Suntec REIT at an
issue price of S$1.605 per New Unit (the ?Private Placement?), the Board of Directors of
ARA Trust Management (Suntec) Limited, in its capacity as manager of Suntec REIT (the
?Manager?), wishes to announce that the Manager has issued the New Units. With the
issue of 218,069,000 New Units, the total number of Units in issue is 2,488,608,850 as at
the date of this announcement. The New Units will commence trading on the Main Board
of Singapore Exchange Securities Trading Limited (the ?SGX-ST?) at 9.00 a.m. on 27
March 2014.
2. Status of the Private Placement New Units
The New Units issued pursuant to the Private Placement will, upon issue, rank pari passu
in all respects with the Units in issue immediately prior to the issue of the New Units
(?Existing Units?), other than in respect of the Advanced Distribution (as defined herein).
Suntec REIT?s policy is to distribute its distributable income on a quarterly basis to its
unitholders (?Unitholders?). In connection with the Private Placement, the Manager
however has declared, in respect of the Suntec REIT counter, a distribution of the
distributable income for the period from 1 January 2014 to 26 March 2014 (the ?Advanced
Distribution?).
2
The next distribution thereafter will comprise Suntec REIT?s distributable income for the
period from 27 March 2014 to 31 March 2014. Quarterly distributions will resume
thereafter.
The Advanced Distribution is intended to ensure that the distributable income accrued by
Suntec REIT up to and including 26 March 2014 (which at this point, will be entirely
attributable to the Existing Units) is only distributed in respect of the Existing Units, and is
being proposed as a means to ensure fairness to holders of the Existing Units.
CLSA notes that Suntec?s $350m placement came as a surprise given the manageable gearing and sterling track record of not having to raise equity to lower gearing. With no acquisition target in sight, House estimate a dilution of~5% (assuming proceeds used for debt repayment). However, CLSA expect an acquisition in Singapore or Australia to be announced soon. An acquisition in Australia would yield economic merits given higher NPI yields but negative on a strategic view while a Singapore acquisition makes most sense to us given the recovering office market. CLSA retains Outperform rating on Suntec REIT with $1.75 TP, on the back of good execution at Suntec mall and exposure to Singapore office recovery.