| Latest Forum Topics / PARAGONREIT |
 Post Reply
|
|
Viva Industrial Trust
|
|||||
|
stockwatch8877
Senior |
13-Oct-2023 06:36
|
||||
|
x 0
x 0 Alert Admin |
Bought the wrong shares at 89.5 cent. Price is 83cents | ||||
| Useful To Me Not Useful To Me | |||||
|
Alignment
Elite |
01-Oct-2023 18:34
|
||||
|
x 0
x 0 Alert Admin |
Correct - it' s owned by SPH not SPH (Paragon) REIT. | ||||
| Useful To Me Not Useful To Me | |||||
|
|
|||||
|
n3wbie
Elite |
30-Sep-2023 12:32
|
||||
|
x 0
x 0 Alert Admin |
The Woodleigh Mall is not part of Paragon REIT' s portfolio.
|
||||
| Useful To Me Not Useful To Me | |||||
|
stockwatch8877
Senior |
30-Sep-2023 11:59
|
||||
|
x 0
x 0 Alert Admin |
Paragon Reit shares price drop to 82.5.
Hope that Woodleigh Mall at upper serangonn road can boost the stock price.
|
||||
| Useful To Me Not Useful To Me | |||||
|
Joelton
Supreme |
08-Aug-2023 12:54
|
||||
|
x 0
x 0 Alert Admin |
|
||||
| Useful To Me Not Useful To Me | |||||
|
|
|||||
|
Joelton
Supreme |
09-May-2023 09:32
|
||||
|
x 0
x 0 Alert Admin |
Paragon Reit Q1 gross revenue rises 0.6% to S$72 million
PARAGON Reit : SK6U +0.53% reported on Monday (May 8) a 0.6 per cent year-on-year increase in first-quarter gross revenue for its portfolio on the back of higher revenue both in Singapore and Australia.
In a business update filed on the Singapore Exchange, the real estate investment trust&rsquo s manager said that portfolio gross revenue had increased to S$72 million for the three months ended Mar 31, 2023, from S$71.6 million in the year-ago period.
In local currency terms, Singapore assets gross revenue grew 0.7 per cent on year, while Australia assets gross revenue rose 8.1 per cent year on year, the manager said. However, the Australian dollar had a weaker exchange rate against the Singapore dollar in Q1 FY23 compared to a year earlier.
For its Singapore properties &ndash which includes Paragon, The Clementi Mall and The Rail Mall &ndash tenant sales rose 12 per cent on year in the first quarter, while footfall was up 37 per cent on year.
This was mainly due to pandemic restrictions that were still in place during the prior year period.
Similarly in Australia, tenant sales and footfall rose 21 per cent and 6 per cent on year respectively during the first quarter as pandemic restrictions eased.
The manager noted that there was &ldquo near full occupancy&rdquo across its portfolio, and a weighted average lease expiry of 5.3 years by net lettable area.
|
||||
| Useful To Me Not Useful To Me | |||||
|
zjd1975
Member |
17-Apr-2023 12:51
|
||||
|
x 0
x 0 Alert Admin |
Reits did well this year for Q1. Better that STI. And received dividends too from REITS in Q1. | ||||
| Useful To Me Not Useful To Me | |||||
|
pikachu
Master |
17-Apr-2023 06:12
Yells: "Holy Cow!" |
||||
|
x 0
x 0 Alert Admin |
How are REITS doing these days? | ||||
| Useful To Me Not Useful To Me | |||||
|
|
|||||
|
zjd1975
Member |
16-Apr-2023 21:18
|
||||
|
x 0
x 0 Alert Admin |
Tomorrow is AGM day. Anyone can please share past year experience at AGM? Worth going for AGM? Thanks | ||||
| Useful To Me Not Useful To Me | |||||
|
Joelton
Supreme |
15-Feb-2023 09:32
|
||||
|
x 0
x 0 Alert Admin |
Paragon Reit, formerly SPH Reit, sees recovery in tenant sales to near pre-pandemic levels
SINGAPORE - With the easing of virus curbs, Paragon Reit saw a strong recovery in tenant sales to near pre-Covid-19 levels, its manager said in a business update on Monday.
Previously known as SPH Reit, it declared a distribution per unit (DPU) of 1.72 cents for the four months ended Dec 31, 2022, unchanged from a year ago.
This represents an annualised yield of 5.7 per cent and puts the DPU for the 16 months ended Dec 31, 2022, at 7.24 cents. The distribution will be paid on March 28.
The real estate investment trust (Reit) announced in July 2022 a change to its financial year-end from Aug 31 to Dec 31, resulting in a 16-month financial year between September 2021 and December 2022. After this, its financial year will return to a 12-month period ending on Dec 31 each year.
Gross revenue for the 2022 16-month financial year was 1.8 per cent higher than the previous corresponding 16-month period at $376.4 million, while net property income rose 3.3 per cent to $279.9 million. The portfolio occupancy rate was 98.5 per cent, and tenant retention ratio was 80 per cent.
The Reit attributed its boost in performance to a return of travel and leisure demand as pandemic restrictions eased. This resulted in &ldquo increased visitation and spending&rdquo , with its Singapore mall portfolio &ndash namely Paragon, Clementi Mall and Rail Mall &ndash seeing a 24 per cent jump in tenant sales and footfall, said the Reit manager.
Sentiment was weaker in Australia, with footfall decreasing by 1 per cent due to pandemic restrictions in the country. Still, most of Australia&rsquo s social distancing requirements had eased in early 2022, resulting in a 7 per cent hike in tenant sales.
Paragon Reit also posted a better rental reversion rate to minus 4.1 per cent in the 16-month 2022 financial year, from minus 8.4 per cent in the corresponding previous period, mainly due to recovering retail sentiment. Weighted average lease expiry stood at 5.2 years by net lettable area and 2.8 years by gross rental income.
Paragon Reit chief executive Susan Leng said: &ldquo As we return to normalcy, our operating metrics in terms of tenant sales and footfall continue to improve. We will continue to proactively manage our assets and work closely with our stakeholders to ensure we remain at the forefront of evolving retail and consumer trends.&rdquo
|
||||
| Useful To Me Not Useful To Me | |||||
|
Joelton
Supreme |
14-Feb-2023 09:43
|
||||
|
x 0
x 0 Alert Admin |
Paragon REIT reports DPU of 1.72 cents for 4MFY2022
Paragon REIT SK6U 0% , formerly SPH REIT, has reported a distribution per unit (DPU) of 1.72 cents for the 4MFY2022 ended Dec 31, 2022, unchanged y-o-y compared to the same period the year before. The DPU for the 4MFY2022 is expected to be paid on March 28.
The REIT changed its name in December 2022. Just five months before, the REIT changed its financial year-end to Dec 31, 2022, from Aug 31, 2022 previously. The change resulted in its current reporting period spanning 16 months from Sept 1, 2021, to Dec 31, 2022.
For the 16MFY2022, the REIT&rsquo s DPU stood at 7.24 cents, 34.1% higher than the DPU of 5.40 cents in the 12MFY2021. The 16MFY2022 DPU also represents an annualised yield of 6.03% based on the closing price of 90 cents per unit on Dec 30, 2022. The distributable income for the FY2021 includes $14.5 million, which was carried over from FY2022 under the Covid-19 relief measures. The $14.5 million is equivalent to around 0.52 cents per unit.
For the 4MFY2022, gross revenue increased by 2.1% y-o-y to $94.6 million mainly due to atrium income as atrium activities returned after the pandemic stabilised.
Net property income (NPI) increased by 2.6% y-o-y to $70.2 million.
Distributable income to unitholders fell by 3.4% y-o-y to $49.5 million.
See also: Pec reports 43% lower 1HFY2023 earnings of $2.9 mil wins $128 mil worth of new contracts
Distribution to unitholders, however, increased by 0.3% y-o-y to $48.3 million.
The total return for the 4MFY2022 fell by 42.3% y-o-y to $47.2 million mainly due to the fiar value gain on investment properties of $31.5 million in the 4MFY2021. There was also a fair value loss on the REIT&rsquo s Australian investment properties of $5.1 million in the 4MFY2022 almost that had no impact on the income available for distribution.
Revenue for the 16MFY2022 stood at $376.4 million, up by 35.8% over the 12MFY2021 due to the stronger performance of the REIT&rsquo s properties in Singapore.
NPI rose by 38.1% y-o-y to $279.9 million.
Distributable income to unitholders increased by 33.2% y-o-y to $210.2 million.
Distribution to unitholders rose by 35.3% y-o-y to $203.2 million.
During the 16MFY2022, the REIT reported a total return of $243.5 million, which includes the fair value gain on investment properties of $33.8 million. Investment properties recorded a fair value gain of S$34.9 million for Singapore and was offset by a $1.1 million loss mainly due to capital expenditure written down for investment properties in Australia. Again, the fair value gain/loss has no impact on the income available for distribution.
As at Dec 31, 2022, the REIT&rsquo s portfolio occupancy stood at 98.5%. It had a weighted average lease expiry (WALE) of 5.2 years by a net lettable area (NLA) of 2.7 million sq ft and 2.8 years by gross rental income (GRI).
During the period, the REIT&rsquo s portfolio negative rental reversion slowed down to -4.1%, compared to the -8.4% in the 12MFY2021.
For the period ended Dec 31, 2022, the REIT&rsquo s fixed debt percentage stood at 84% with an average cost of debt of 2.05%. As at Dec 31, 2022, its gearing stood at 29.8% with debt headroom flexibility.
For more stories about where money flows, click here for Capital Section
Tenant sales stood at near pre-Covid-19 levels with the easing of pandemic restrictions. In Singapore, tenant sales for the 16MFY2022 increased 24% over FY2021. For the 12MFY2022, tenant sales increased by 35% y-o-y over the 12MFY2021.
In Australia, tenant sales increased by 7% over the FY2021 from the 16MFY2022 and 9% y-o-y over a 12-month like-for-like basis.
As at Dec 31, 2022, cash and cash equivalents stood at $125.6 million.
In its outlook statement, the REIT manager cautioned that high inflation, continued geopolitical tensions, and economic headwinds could potentially weigh on consumer behaviour despite the REIT being a key beneficiary of the domestic retail recovery and the return of international visitors.
&ldquo Our assets displayed strong operational recovery, which is proof of the quality of our portfolio, and the effectiveness of our strategies. This is evident from the higher retail sales across our portfolio,&rdquo says Dr Leong Horn Kee, chairman of Paragon REIT. &ldquo Paragon REIT remains well-positioned to capture the rebound in retail sales, and we will strive to maintain our resilience against potential headwinds.&rdquo
&ldquo As we return to normalcy, our operating metrics in terms of tenant sales and footfall continue to improve. Over the festive season, we saw encouraging tenant sales at our assets. The stable asset valuation reflects our strategic positioning, as well as the strong demand for our assets. We will continue to proactively manage our assets and work closely with our stakeholders to ensure that we remain at the forefront of evolving retail and consumer trends,&rdquo says Susan Leng, CEO of Paragon REIT.
|
||||
| Useful To Me Not Useful To Me | |||||
|
Joelton
Supreme |
27-Jan-2023 09:50
|
||||
|
x 0
x 0 Alert Admin |
DBS upgrades Paragon Reit to &lsquo buy&rsquo as China&rsquo s borders reopen
DBS Group Research has upgraded Paragon Real Estate Investment Trust : SK6U +0.51% (Reit) from &ldquo hold&rdquo to &ldquo buy&rdquo as it expects the Reit to be a prime beneficiary of China&rsquo s reopening, as well as a key proxy to Orchard Road&rsquo s recovery.
Its target price on the Reit has also been raised to S$1.10 from S$0.96 to reflect higher rental reversion assumptions for FY2023 to FY2025, as well as an estimated moderation in net property income margin in FY2023 to FY2024.
In a report on Thursday (Jan 26), DBS analysts said Paragon Reit currently trades at an &ldquo attractive&rdquo one time price-to-book value ratio, and has a projected FY2023 yield of 5.6 per cent.
The research house expects the return of Chinese travellers to bring about an increase of more than one million shopper footfall at Paragon Mall, where higher sales efficiency is also anticipated in 2023 due to a rise in luxury spending.
Coupled with anticipated positive reversions and a recovery of tenant sales to above pre-Covid levels, DBS foresees a boost to Paragon Reit&rsquo s topline revenue as tourist arrivals in Singapore see &ldquo full-year traction&rdquo this year.
&ldquo We believe that Paragon Mall ticks all the boxes for a recovery in tourist arrivals, specifically Chinese travellers and medical tourists,&rdquo said the analysts.
They further expect this asset to anchor Paragon Reit&rsquo s status as a reopening play, given that it gives the Reit portfolio 65 per cent exposure, by asset valuation, to Orchard retail.
Further developments on China&rsquo s reopening are projected to be a key catalyst for the Reit, along with the expected decline of electricity charges.
DBS also highlighted the possibility of a takeover, which could unlock value, given that the ultimate shareholders of Paragon Reit&rsquo s new sponsor Cuscaden Peak are sponsors of other listed Reits.
Cuscaden Peak as a sponsor could also offer the Reit opportunities to acquire stakes in Seletar Mall and Woodleigh Mall, which the DBS analysts highlighted as &ldquo potential injections into Paragon Reit in the medium term at opportune times&rdquo .
|
||||
| Useful To Me Not Useful To Me | |||||
|
|
|||||
|
kepoh88
Veteran |
26-Jan-2023 19:41
|
||||
|
x 0
x 0 Alert Admin |
https://www.theedgesingapore.com/capital/brokers-calls/paragon-reit-one-key-beneficiaries-singapores-reopening-upgrade-buy-dbs |
||||
| Useful To Me Not Useful To Me | |||||