Latest Forum Topics /
EliteUKREIT GBP
Last:0.335
-0.005
|
 Post Reply
|
|
Elite REIT - the only GBP-denominated REIT today.
|
||||||||||||||||||||||||||||||||||||||
|
Joelton
Supreme |
22-Feb-2022 09:43
|
|||||||||||||||||||||||||||||||||||||
|
x 1
x 0 Alert Admin |
Elite Commercial Reit' s H2 DPU rises 12.4% to 2.80 pence
ELITE Commercial Reit EliteComREIT GBP: MXNU +1.5% achieved a distribution per unit (DPU) of 2.80 pence for the half-year ended Dec 31, up 12.4 per cent from 2.49 pence the previous year on higher revenue and distributable income.
In its results filing on Monday (Feb 21), the real estate investment trust (Reit) manager attributed its strong performance to contributions from the Reit' s maiden acquisition and a reduced headline tax rate following its successful admission to the UK' s The International Stock Exchange (TISE).
Gross revenue for H2 FY2021 grew 61.7 per cent on-year to £ 18.8 million (S$34.4 million) from £ 11.6 million previously, boosted by contributions from the Reit' s newly acquired portfolio in the UK.
Net property income rose by 62 per cent to £ 18.3 million compared to £ 11.3 million in H2 FY2020.
Distributable income for the half year stood at £ 13.4 million, up 60.2 per cent from the Reit' s H2 FY2020 distributable income of £ 8.3 million.
The latest set of results brings Elite Commercial Reit' s FY2021 DPU to 5.43 pence, representing a 22.3 per cent increase from its FY2020 DPU of 4.44 pence and beating its IPO (initial public offering) projection by 11.3 per cent.
This marks the eighth consecutive quarter where the Reit outperformed its IPO projections, said the manager, with full-year revenue and distributable income projections for FY2021 exceeding IPO projections by 49.2 per cent and 49.4 per cent, respectively.
The distribution will be paid out on Mar 31 after the record date on Mar 1.
Elite Commercial Reit' s manger said the portfolio remains 100 per cent occupied as at end-2021, with 99.9 per cent of rent for the 3 months to March 2022 collected in advance, and within 7 days of the due date.
It highlighted that the Reit portfolio' s properties have built-in inflation-linked rental escalation clauses, in view of the rising inflation rate in the UK. This presents potential upside at the upcoming rent review in the fifth year of the leases where new rental rates will start in April 2023, said the manager.
Additionally, the manager has secured a new 5-year lease for East Street, Epsom, with about 11 per cent in rental uplift to start in April 2023 and a break option at the third year.
Meanwhile, the lease break option for the Reit' s Sidlaw House, Dundee property has been exercised. The manager said multiple options - which include disposal, re-marketing or redevelopment of the site - are being evaluated for the asset.
|
|||||||||||||||||||||||||||||||||||||
| Useful To Me Not Useful To Me | ||||||||||||||||||||||||||||||||||||||
|
Rokawa
Member |
21-Feb-2022 08:56
|
|||||||||||||||||||||||||||||||||||||
|
x 1
x 0 Alert Admin |
Lease to break still hanging. | |||||||||||||||||||||||||||||||||||||
| Useful To Me Not Useful To Me | ||||||||||||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||||||||||
|
prophetjul
Master |
21-Feb-2022 08:44
|
|||||||||||||||||||||||||||||||||||||
|
x 0
x 0 Alert Admin |
https://links.sgx.com/1.0.0/corporate-announcements/ZBKDM4J4O9K9VRKB/efa386e19068f8c7e0b1249dc0ec1a4dc286b6c3e72453fac0c9642442e6aaf4 Excellent results! |
|||||||||||||||||||||||||||||||||||||
| Useful To Me Not Useful To Me | ||||||||||||||||||||||||||||||||||||||
|
coco66
Member |
15-Feb-2022 16:17
|
|||||||||||||||||||||||||||||||||||||
|
x 0
x 0 Alert Admin |
Oh I see. Useful info. Thanks for sharing
|
|||||||||||||||||||||||||||||||||||||
| Useful To Me Not Useful To Me | ||||||||||||||||||||||||||||||||||||||
|
prophetjul
Master |
15-Feb-2022 16:16
|
|||||||||||||||||||||||||||||||||||||
|
x 0
x 0 Alert Admin |
I wrote to their IR asking about the lease break option for 63% of the property in March 2023. This option break decision should be known by March 2022. Lets see how it goes.
|
|||||||||||||||||||||||||||||||||||||
| Useful To Me Not Useful To Me | ||||||||||||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||||||||||
|
coco66
Member |
15-Feb-2022 16:10
|
|||||||||||||||||||||||||||||||||||||
|
x 0
x 0 Alert Admin |
I' m not aware of any changes. Which is why I' m collecting today. Maybe I' m wrong (let' s see results in few days time).
|
|||||||||||||||||||||||||||||||||||||
| Useful To Me Not Useful To Me | ||||||||||||||||||||||||||||||||||||||
|
prophetjul
Master |
15-Feb-2022 15:58
|
|||||||||||||||||||||||||||||||||||||
|
x 0
x 0 Alert Admin |
Any news on Elite? High volume on dropping share price today. |
|||||||||||||||||||||||||||||||||||||
| Useful To Me Not Useful To Me | ||||||||||||||||||||||||||||||||||||||
|
prophetjul
Master |
03-Nov-2021 11:35
|
|||||||||||||||||||||||||||||||||||||
|
x 0
x 0 Alert Admin |
Analysts maintain ' buy' on Elite Commercial REIT on attractive yieldAtiqah Mokhtar Published on Wed, Nov 03, 2021 / 11:06 AM GMT+8 / Updated 15 minutes ago
Analysts remain positive on Elite Commercial REIT after its 3QFY2021 ended September business update was announced on Nov 1.
See: Elite Commercial REIT posts 3Q21 DPU of 1.48 pence, 20.3% above IPO projection DBS Group Research has maintained its &ldquo buy&rdquo rating for the REIT with an unchanged target price of 80 British pence ($1.47). UBS also retained its &ldquo buy&rdquo rating and target price of 76 pence. Meanwhile, CGS-CIMB Research kept its &ldquo accumulate&rdquo call but with a lower target price of 76.9 pence, down from 82.6 pence previously. CGS-CIMB analysts Lock Mun Yee and Eing Kar Mei highlight that the REIT&rsquo s 3Q earnings was boosted mainly by contributions from the new acquisitions and to a lesser extent, a lower effective tax rate with the successful listing of its UK entity, Elite UK Commercial Holdings Ltd, on The International Stock Exchange (TISE). Its 3QFY2021 distribution per unit (DPU) of 1.48 pence is 20.3% higher y-o-y and in line with Lock and Eing&rsquo s expectations at 75.4% of their FY2021 forecast. The analysts' lower target price is underpinned by a cut in FY2022-2023 DPU estimates by 9.21% to 9.41%, reflecting the manager&rsquo s indication it has opted to receive 100% of its fees in cash from FY2022 onwards. &ldquo We believe this move will likely result in a lower near-term DPU but could bolster longer-term DPU growth, with less DPU dilution from additional units issued for management fees,&rdquo Lock and Eing comment. Despite the lower target price, they highlight that the REIT still offers an attractive FY2022 dividend yield of around 7.5%. &ldquo We like Elite Commercial REIT&rsquo s stable income portfolio, with inbuilt growth through its inflation-linked rental structure and inorganic growth potential,&rdquo they state. For DBS analyst Dale Lai, his target price of 80 pence implies 19% potential upside, with attractive yields between 8% to 8.2% for FY2022 and FY2023. &ldquo Elite Commercial occupies a unique position in the REITs space, where it functions as a social infrastructure, given its 99% exposure to the UK government,&rdquo he says in a Nov 2 research note. He highlights that there is no impact on the REIT&rsquo s rent collection as 100% of rent is collected in advance even during Brexit and UK lockdowns. As such, dividend payout will not be affected by the pandemic. UBS analysts Wai Fai Kok and Michael Lim note the REIT&rsquo s 3QFY2021 DPU was ahead of their estimates largely due to a favourable funding mix for the last acquisition. &ldquo The increase was partly driven by a property rent review and tax savings from a successful technical listing on TISE,&rdquo they remark. Besides highlighting that the REIT&rsquo s portfolio occupancy remains at 100% supported by strong government tenants, the analysts note that management expects the elevated unemployment rate to continue supporting demand for job centres. As at 11am, units in Elite Commercial are trading flat at 67.5 pence. |
|||||||||||||||||||||||||||||||||||||
| Useful To Me Not Useful To Me | ||||||||||||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||||||||||
|
Rokawa
Member |
02-Nov-2021 21:36
|
|||||||||||||||||||||||||||||||||||||
|
x 0
x 0 Alert Admin |
Thanks. Understood. 1 yr in advance. So this next 5 mths is key to see how sustainable it is.
|
|||||||||||||||||||||||||||||||||||||
| Useful To Me Not Useful To Me | ||||||||||||||||||||||||||||||||||||||
|
prophetjul
Master |
02-Nov-2021 08:37
|
|||||||||||||||||||||||||||||||||||||
|
x 0
x 0 Alert Admin |
The option to break the 60+% leases is in March 2023. However, the tenant needs to give a ONE year notice meaning by March 2022, we will know what leases will be terminated and what will continue for another 6 years. | |||||||||||||||||||||||||||||||||||||
| Useful To Me Not Useful To Me | ||||||||||||||||||||||||||||||||||||||
|
Rokawa
Member |
01-Nov-2021 22:47
|
|||||||||||||||||||||||||||||||||||||
|
x 0
x 0 Alert Admin |
so is it like 63.7% of lease can be broken between like eh apr 2022 and mar 2023? | |||||||||||||||||||||||||||||||||||||
| Useful To Me Not Useful To Me | ||||||||||||||||||||||||||||||||||||||
|
prophetjul
Master |
01-Nov-2021 15:56
|
|||||||||||||||||||||||||||||||||||||
|
x 0
x 0 Alert Admin |
Elite Commercial Reit posts 20.3% rise in Q3 DPU to 1.48 penceMON, NOV 01, 2021 - 9:03 AM
UPDATED MON, NOV 01, 2021 - 9:52 AM
 ELITE Commercial Reit' s distribution per unit (DPU) rose by 20.3 per cent to 1.48 pence for its third quarter ended Sep 30, from 1.23 pence a year ago.
PHOTO: ELITE COMMERCIAL REIT
ELITE Commercial Reit' s EliteComREIT GBP: MXNU +1.5% distribution per unit (DPU) rose by 20.3 per cent to 1.48 pence for its third quarter ended Sep 30, from 1.23 pence a year ago. The DPU was also 20.3 per cent higher than the 1.23 pence the real estate investment trust (Reit) had forecast upon its initial public offering (IPO), completed in February 2020. Revenue was up 61.7 per cent to £ 9.4 million (S$17.4 million) for the quarter, from £ 5.8 million a year ago, and also up 60.4 per cent from its IPO projection of £ 5.9 million. The Reit' s results were bolstered mainly by contributions from its maiden acquisition of 58 properties in the UK for £ 212.5 million, the manager said in its Q3 business update on Monday (Nov 1). Income available for distribution rose 71.8 per cent on year to £ 7.1 million from £ 4.1 million, and was also 70.6 per cent higher than its IPO forecast. Meanwhile, the listing of the Reit' s wholly-owned subsidiary, Elite UK Commercial Holdings (ECHL), on The International Stock Exchange, has qualified ECHL and its subsidiaries as a UK Reit group. This put its tax treatment on par with that of other listed UK Reits, with headline tax for ECHL reduced to 15 per cent from 19 per cent, the manager said. With the qualification, the Reit' s individual properties' historical valuation are also allowed to be rebased to their current valuations, which eliminates previously recognised deferred tax liabilities due to latent capital gains. Following these corporate developments, net asset value of the Reit has improved slightly from £ 0.62 as at Jun 30 to £ 0.63 as at Sep 30, the manager said. Shaldine Wang, chief executive of the manager, said: " Our consistent growth is attributed to the stable income generated by our unique and defensive portfolio, and the resilient nature of our tenants." " We are constantly looking for growth opportunities as well as ways to augment distributable income for our unitholders and improve our capital structure," she added. The Reit' s portfolio remains 100 per cent occupied as at Sep 30, 2021, with 100 per cent of rent for the 3-month period of October to December collected in advance and within 7 days of the due date. The manager said it continues to be focused on growth opportunities via acquisition of yield-accretive assets that are on long-term leases to various UK government agencies, available to the Reit through its sponsors' right of first refusal pipeline and from third-party transactions in the open market. Additionally, after the recent exercise of the lease break option for the Reit' s East Street, Epson property, the manager said it is evaluating between the potential sale of the asset at £ 2.9 million - 21 per cent above its valuation of £ 2.4 million, and a proposal to retain the Reit' s major tenant, the Department for Work and Pensions. The manager is also evaluating various re-marketing and development options available for its John Street, Sunderland property, after its lease break option was exercised. Units of the Reit closed at 66.5 pence on Friday (Oct 29), down 0.5 pence or 0.8 per cent. |
|||||||||||||||||||||||||||||||||||||
| Useful To Me Not Useful To Me | ||||||||||||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||||||||||
|
Joelton
Supreme |
04-Oct-2021 09:30
|
|||||||||||||||||||||||||||||||||||||
|
x 0
x 0 Alert Admin |
Elite Commercial Reit targets S$1 billion market cap to wow investors
Besides more acquisitions, it enjoys stability with a recession-proof tenant base as 99% of its portfolio is leased to the UK government.
SHALDINE Wang, chief executive officer of the manager of Elite Commercial Reit, is on a mission to whet investor appetite with more acquisitions, bump up the Reit' s market value and reassert its recession-proof appeal.
Elite Commercial Reit made its debut in February last year as the first UK-focused real estate investment trust (Reit) to be listed in Singapore. It is also the first Reit here to be denominated in the British pound.
On Feb 6, 2020, it opened 3.7 per cent higher than the initial public offering (IPO) price of £ 0.68 or S$1.21 per unit. Just over a week later, on Feb 18, it hit a high of £ 0.755.
Then, the world descended into coronavirus chaos.
" The Reit, unfortunately, listed at the time when everyone was going into a lockdown and hibernation," said Ms Wang. " Right out of the gate, we were struck with C
A month after its debut on the Singapore bourse, Elite Commercial Reit sank to a low of £ 0.485. Since then, the counter is right back where it started. Units of Elite Commercial Reit closed at £ 0.67 on Oct 1 - just shy of its IPO price in February last year. To date, the counter has barely moved from the £ 0.665 it recorded at the start of the year.
" We had rebounded quite quickly, so our recession-proof investment strategy has proven itself. The Reit has been performing well," Ms Wang said.
" We are probably not as exciting as people who are in the high tech space today. . . but this provides a very different kind of strategy and should have a place in everybody' s portfolio, when you look at a balanced portfolio in terms of investments," Ms Wang said.
Pandemic- and recession-proof
At the heart of this stability is the Reit' s tenant base. Over 99 per cent of the Reit' s portfolio is leased to the AA-rated UK government.
Its largest tenant by far is the Department for Work and Pensions (DWP), which accounts for 92.8 per cent of the Reit' s portfolio by gross rental income. Other tenants include the Ministry of Defence, the National Records of Scotland, and HM Courts and Tribunals Service.
" Although these are commercial offices, they are actually being used by the government as crucial social infrastructure buildings instead," said Ms Wang. " And because of the importance of these buildings, they' re all fully occupied. We don' t have any vacancies in our portfolio."
In the DWP, the UK' s biggest public service department responsible for welfare, pensions and child maintenance policy, the Reit manager sees a counter-cyclical and recession-proof occupier.
Ms Wang explains that even in normal times, when the economy is performing fairly well, there is always a base level of claimants, including for pensions and disability benefits. During downturns, such as the global financial crisis and the current Covid-19 pandemic, there is a surge of claimants due to an increase in unemployment.
" If you are unemployed, you go to a Jobcentre Plus (under the DWP), and they will try to help you to get back to work," Ms Wang said. " They have actually increased the number of centres throughout this period, and they were so desperate that they were taking up empty slots at shopping centres on a temporary basis to address the needs."
Elite Commercial Reit enjoys a long weighted average lease expiry of 6.6 years. The majority of its leases, however, have a break clause after a certain tenure.
A key risk for the Reit is that just under two-thirds of its total portfolio rent have lease break options that will come into effect at the end of March 2023, with a minimum one-year notice to be served. If the break options are not exercised by March 31, 2022, the leases will continue up to the end of March 2028.
As pundits see it, it is " unlikely" that the tenants will choose to exercise the lease break option.
" The properties in the portfolio are assets that provide important social services to close to 30 per cent of the UK population and they are strategically chosen to serve the local communities," said DBS analyst Dale Lai in a recent report. DBS has a " buy" call on Elite Commercial Reit with a target price of £ 0.80.
The bad news for the Reit is that the lease break for East Street, Epsom has been exercised. The Reit manager says it has received an offer for the property at £ 2.9 million, about 21 per cent above the valuation of £ 2.4 million as at end-December 2020, and is undertaking due diligence on the offer and purchaser.
It added that it is also reviewing potential asset enhancement initiatives, as the building also offers potential for continued commercial use as well as conversion or redevelopment for alternative uses.
" The option was exercised as the property could not accommodate DWP' s expansion plans. We believe that the likelihood of tenants exercising the lease break options for the other properties is fairly low as there are social implications involved when government agencies move offices," Mr Lai said.
" We also believe that these agencies have to undergo a rigorous assessment exercise before any relocation or commitment is made for long leases, making it unlikely for the tenants to exercise the lease break option," he added.
A case in point is The Forum, Stevenage, whose lease expiry will be extended to March 31, 2028, as the lease break option was not exercised.
Analysts see the end of March 2022 as a potential " key catalyst" for the Reit.
" Our current book values are conservative as we have assumed that half of the break options will be exercised. Given that it is highly unlikely that the tenants will exercise this break option, we can expect to see a significant uplift in book valuations," Mr Lai said.
Double threat
For the six-month period ended June 30, Elite Commercial Reit posted distribution per unit (DPU) of 2.63 pence - beating its IPO forecast of 2.42 pence by 8.7 per cent. The H1 DPU was also up 34.9 per cent from DPU of 1.95 pence in the year-ago period.
Gross revenue was up 37.7 per cent to £ 15.9 million for the half-year period, from its IPO projection of £ 11.5 million, while net property income of £ 15.4 million was 37 per cent higher than its IPO forecast of £ 11.2 million.
The stellar H1 results were driven by contributions from the Reit' s maiden acquisition of 58 properties in the UK for £ 212.5 million in March this year.
The acquisition - just over a year into its listing, and amid a protracted recovery from the pandemic - came as a surprise to some market watchers. But the Reit manager sees it as part of its plans to attract investors.
" When we were listing this portfolio, we were cognisant that it is a very small Reit compared to a lot of big players in the market," said Ms Wang.
She noted that smaller Reits tend to be dogged by the double threat of lower market capitalisation and poorer liquidity, and hence face challenges with attracting investors.
One of her biggest challenges has been reaching out to potential investors amid the Covid-19 pandemic that has plagued most of the Reit' s listed lifetime.
While the Reit manager says it continues to engage with investors via virtual conferences and webinars, Ms Wang added: " We can' t really meet face-to-face, there are no retail events that are being held on a large scale &hellip So a lot of work needs to be done to just get people to understand who we are, what we do, and the things that we focus on.
" We think that if we can quickly acquire, we will be able to attract more investors. And true enough, that' s how we have gotten more institutional investors onto the books today," Ms Wang said. " We are continuing to look into acquisitions. Once it gets to a certain size that institutional investors are interested in, I guess you will see a bit more liquidity in the stock.
" There' s always the ideal market cap that everyone looks at - the S$1 billion target - so that investors, or institutional investors, start to look at you. So that' s our target as well."
Following its acquisition in March, the Reit' s portfolio has grown to £ 515.3 million. Its market capitalisation stood at £ 317.8 million as of Oct 1.
Maybank Kim Eng notes that the Reit is fast approaching the S$1 billion mark for assets under management.
" Elite Commercial Reit has been sizing up rapidly," said analysts Matthew Shim and Chua Su Tye in an " unrated" report on Oct 1. " Given its lease structures, inorganic growth is the priority. On this front, management is actively on the look-out for further acquisitions within the UK, specifically those that fit its ' social infrastructure' thematic.
" Potential third-party deals are aplenty, though its sponsor has another £ 150 million tailor-made portfolio of UK properties with public sector tenants in the pipeline."
Ms Wang pointed out that the Reit can potentially grow organically as well. " In terms of growth, something that maybe investors are not that aware of is that we do have some land bank," she said. " We have about 42 acres of land that has not been developed."
Notably, Elite Commercial Reit is one of 10 actively traded S-Reits not included in the FTSE EPRA Nareit global index series. This will see the Reit miss out on some expected benefits, including improved liquidity, investor visibility and potential investability, as well as lowered cost of equity and ease of making distribution per unit-accretive acquisitions via partial equity raising. All the 10 excluded S-Reits had market caps below S$1 billion.
Already, the March acquisition has pushed Elite Commercial Reit' s gearing ratio to 42.1 per cent. This gives the Reit an available debt headroom of approximately £ 29 million based on a gearing ratio of 45 per cent, or about £ 85 million based on the maximum gearing ratio of 50 per cent.
Well-capitalised
As at end-June, it had total debt of £ 228 million with an average weighted debt maturity of 2.5 years and interest coverage ratio of 6.4 times. The Reit manager says it is looking at ways to reduce its debt ratio, but adds that it remains well-capitalised with adequate working capital and debt headroom to meet its ongoing obligations. One of these avenues is the establishment of the distribution reinvestment plan (DRP), which was announced in June to allow unitholders to elect to receive new units in the Reit in lieu of cash.
In addition, the Reit' s wholly owned subsidiary, Elite UK Commercial Holdings, was listed on The International Stock Exchange (TISE) in August.
The TISE listing will see the tax treatment of the Reit be on par with other UK Reits. Elite Commercial Reit said its applicable principal tax rate will be reduced to 15 per cent, from the current 19 per cent, based on the double taxation treaty between the UK and Singapore. Any latent capital gains and corresponding deferred tax liabilities of the properties held by Elite Commercial Reit will be eliminated.
" This could ultimately improve distributable income and DPU for unitholders," said Maybank KE analysts.
For now, analysts are not too worried about the Reit' s finances. " Elite Commercial Reit remains well capitalised with a strong balance sheet," said CGS-CIMB analysts Lock Mun Yee and Darren Ong in a recent report. " (It) continues to maintain a healthy debt maturing profile and will not face refinancing risks until FY2023, in our view."
CGS-CIMB has an " add" recommendation on the Reit, with a target price of £ 0.826.
" Elite Commercial Reit currently offers the second-highest yield among the S-Reit offshore universe and trades below book value," said Maybank KE' s analysts. " This is despite its reported DPU figures over the last six quarters consistently surprising on the upside relative to initial IPO projections by an average of 4.4 per cent." .
They note that consensus estimates put Elite Commercial Reit' s yield at an average of 8.1 per cent for FY2021, and a price-to-book ratio of 0.94 time.
|
|||||||||||||||||||||||||||||||||||||
| Useful To Me Not Useful To Me | ||||||||||||||||||||||||||||||||||||||
|
PhillipTan
Supreme |
28-Aug-2021 01:43
|
|||||||||||||||||||||||||||||||||||||
|
x 0
x 0 Alert Admin |
Elite Commercial Reit unit listed on TISE to qualify for tax exemptionsElite UK Commercial Holdings (ECHL), a wholly-owned subsidiary of mainboard-listed Elite Commercial Reit, has been listed on The International Stock Exchange (TISE) from Aug 26, and has also also applied to become a group UK Reit, the manager of the real estate investment trust (Reit) said in a bourse filing on Friday.The admission on TISE is a required step for ECHL and its subsidiaries to qualify for corporation tax exemption for its property rental business income and gains under the UK Reit regime. On a pro forma basis, assuming completion of the listing on Jan 1, such an exemption would have increased Elite Commercial Reit' s distribution per unit for H1 2021 to 2.71 pence from 2.63 pence, and its net asset value per unit would have increased to £ 0.64 from £ 0.62. Pro forma profit after tax for the half year would have risen to £ 2.6 million, from its current loss after tax of £ 5.4 million. The listing does not involve any divestment or dilution of Elite Commercial Reit' s shareholding in ECHL, the Reit' s manager said. |
|||||||||||||||||||||||||||||||||||||
| Useful To Me Not Useful To Me | ||||||||||||||||||||||||||||||||||||||
|
chartistkao1
Supreme |
18-Aug-2021 10:03
|
|||||||||||||||||||||||||||||||||||||
|
x 0
x 0 Alert Admin |
go globally look for oversold good stocks
https://www.youtube.com/watch?v=XQTstegLBDo
https://images.app.goo.gl/zNEAbm6QLm14Nxjj9
|
|||||||||||||||||||||||||||||||||||||
| Useful To Me Not Useful To Me | ||||||||||||||||||||||||||||||||||||||
|
heluim
Member |
15-Aug-2021 00:15
|
|||||||||||||||||||||||||||||||||||||
|
x 0
x 0 Alert Admin |
I would also like to buy this using Standard Chartered Trading platform. Do anybody knows if we can buy this using Standard Chartered Trading Platform?
|
|||||||||||||||||||||||||||||||||||||
| Useful To Me Not Useful To Me | ||||||||||||||||||||||||||||||||||||||
|
aplinchris
Member |
12-Aug-2021 17:42
|
|||||||||||||||||||||||||||||||||||||
|
x 0
x 0 Alert Admin |
Hi, can you buy this REIT through the standard chartered trading platform? | |||||||||||||||||||||||||||||||||||||
| Useful To Me Not Useful To Me | ||||||||||||||||||||||||||||||||||||||
|
PhillipTan
Supreme |
06-Aug-2021 01:21
|
|||||||||||||||||||||||||||||||||||||
|
x 0
x 0 Alert Admin |
' Buy' ' pandemic-proof' Elite Commercial REIT for its unique UK positionWith its 1HFY2021 outperformance, Elite Commercial REIT enjoys " pandemic-proof distributions" with its unique position in the REITs space, says DBS Group Research analyst Dale Lai.In an Aug 4 note, Lai is maintaining his " buy" call on the REIT, with a target price of 80 pence ($1.50), which represents a 19% upside. Elite Commercial REIT is the only UK-focused Singapore REIT, established with the investment strategy of principally investing, directly or indirectly, in commercial assets and real estate-related assets in the UK. " Elite Commercial REIT occupies a unique position in the REITs space, where it functions as social infrastructure, given its 99% exposure to the UK government. With 100% of rent collected in advance even during Brexit and UK lockdowns, we do not foresee any impact on rent collection going forward, hence dividend payout will not be affected by the pandemic," writes Lai. " We revise our DPU estimates upwards for FY2021F/FY2022F by 8% and 2%, implying attractive yields of 8.0%/8.2%," he adds. For 1HFY2021, revenue increased 70.6% y-o-y from £ 9.3 million to £ 15.9 million. Distributable income to unitholders at £ 11.2 million exceeded IPO projection by 37.1% and was up 71.3% y-o-y. 1HFY2021 DPU of 2.63 pence was 8.7% above IPO forecast and up 34.9% y-o-y, writes Lai. " The strong performance was boosted by some four months contribution from newly acquired portfolio of 58 UK commercial properties leased to the UK government. The portfolio enjoyed superior metrics of 100% occupancy as at 30 Jun 2021 with long weighted average lease expiry (WALE) of 6.6 years." The properties in the portfolio are assets that provide important social services to approximately 30% of the UK population, strategically chosen to serve the local communities, says Lai. " While the lease break option was exercised for one property in 2QFY2021, we believe that the likelihood of tenants exercising the lease break options for the other properties is fairly low." That said, Lai foresees UK unemployment rate to rise and usage of Department for Work and Pensions (DWP) services to increase. " With a new resurgence of Covid-19 cases driven by the Delta variant in the UK, we expect unemployment rate to continue rising. Coupled with the expiry of the Coronavirus Job Retention Scheme (furlough) in September 2021, DWP' s unemployment services are even more crucial to help people find jobs. The counter-cyclical portfolio with DWP as its main tenant will prove to be resilient." Meanwhile, CGS-CIMB Research analysts Lock Mun Yee and Darren Ong are maintaining " add" on the REIT, with an unchanged target price of 82.6 pence, which represents a 22.4% upside. As of June 30, 2021, Elite Commercial REIT has received in advance 99.7% of the rent for 3QFY2021F and the portfolio occupancy continues to be at 100% with 99% exposure by gross rental income to sovereign type tenants in the UK. The REIT experienced two lease events in 1HFY2021: one for The Forum, Stevenage, which had its lease extended to March 31, 2028 and the other at East Street Epsom, which exercised its lease break option. However, Elite Commercial REIT has received an offer from an undisclosed buyer to purchase East Street Epsom for £ 2.9 million, a 21% premium above valuation. According to Lock and Ong, the manager is undergoing due diligence for the offer but is also considering the possibility of asset enhancement initiatives. With unemployment rates in the UK expected to peak in 3QFY2021F at 5.5% according to the Bank of England, and the furlough scheme expiring in end-September 2021, Lock and Ong believe that this will drive claimant footfall and increase reliance on its key tenant DWP, raising relevance of its assets. " Elite Commercial REIT remains well capitalised with a strong balance sheet ECR continues to maintain a healthy debt maturing profile and will not face refinancing risks until FY2023F, in our view." At end-June 2021, the REIT' s gearing stood at 42.1% with an interest coverage ratio of 6.4 times and £ 6 million in undrawn facility. As at 2.07pm, shares in Elite Commercial REIT are trading flat at 68 pence. |
|||||||||||||||||||||||||||||||||||||
| Useful To Me Not Useful To Me | ||||||||||||||||||||||||||||||||||||||
|
chartistkao1
Supreme |
05-Aug-2021 09:32
|
|||||||||||||||||||||||||||||||||||||
|
x 0
x 0 Alert Admin |
|
|||||||||||||||||||||||||||||||||||||
| Useful To Me Not Useful To Me | ||||||||||||||||||||||||||||||||||||||
|
chartistkao1
Supreme |
05-Aug-2021 09:30
|
|||||||||||||||||||||||||||||||||||||
|
x 0
x 0 Alert Admin |
https://www.dividends.sg/view/MXNU
GBP/SGD - British Pound Singapore Dollar Real-time FX
Create Alert
Add to Portfolio
1.8771 +0.0010 +0.05%
|
|||||||||||||||||||||||||||||||||||||
| Useful To Me Not Useful To Me | ||||||||||||||||||||||||||||||||||||||