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about time. Still attractive at current prices
Going into unchartered territory!
Just saw 2 million shares snapped up at 90c.
Published September 09, 2014
Broker' s take: OUE Hospitality Trust to see better days in H2
OUE Hospitality Trust should benefit from seasonally higher hospitality demand in the second half of this year.
Preliminary hotel statistics published by the Singapore Tourism Board painted an improved hospitality outlook in July - revenue per available room (RevPAR) grew 5.4 per cent month-on-month to S$223.4 while average occupancy rate increased to 90 per cent from 84.9 per cent in June.
" While the international tourist arrivals to Singapore declined by 2.5 per cent for the first seven months of 2014, we note that the number of arrivals in July represented a 19.2 per cent month-on-month jump to 1.4 million. More importantly, the arrivals from Asia registered a 16.7 per cent month-on-month increase in July," said Kevin Tan, investment analyst, OCBC Investment Research, in a report issued on Tuesday.
" Given that Asia formed about 74 per cent of OUE Hospitality Trust' s Mandarin Orchard Singapore customer profile for H1 2014, we believe that OUE Hospitality Trust is likely to put on a better showing in H2 should the demand be sustained."
last day cum-dividend, get this 7% yield stock w good gearing while stock last!
Well-positioned for 2H
OUE-HT&rsquo s interims are in line with our forecast, with 2Q and 1H earnings
accounting for 23% and 47% of our full-year forecast, respectively. As
management has been proactive in speeding up the AEI of 160 rooms in 2Q to
take advantage of a seasonally stronger 2H and is negotiating to acquire
Crowne Plaza at Changi Airport, we maintain our Add rating with an
unchanged DDM-based (discount rate: 7.93%) target price of S$0.96.
Stable quarter largely supported by stronger F& B
OUE Hospitality Trust (OUE-HT) delivered S$28.3m gross revenue in 2Q14, in
line with the forecast made by management during its IPO. In view of a slower
hospitality market, management accelerated and completed the AEI for 160
rooms in 2Q to take advantage of a seasonally stronger 2H. As a result, RevPAR
dipped by 4.7% yoy to S$242 while occupancy was maintained at 90%.
Excluding the impact of the AEI, RevPAR for the quarter would have been
flattish from a year ago. During the quarter, food and beverage sales continued
to perform, with higher patronage and stronger banquet sales. This, in turn,
mitigated the impact of lower room revenue in 2Q. Mandarin Gallery&rsquo s gross
revenue remained in line with forecast, registering a passing rent of S$23.7
psf/mth (vs S$23.6 psf/mth in 1Q14).
Further room to grow
We expect OUE-HT to benefit from a stronger 2H, particularly from the
recently refurbished 160 rooms. These rooms could fetch an additional S$30
per room/night, translating into c.11% higher room rates. In addition, OUE-HT
is well-positioned to benefit from the 5.7% yoy rise in Indonesian visitors in the
first five months of 2014 as Indonesians make up 25-30% Mandarin Orchard&rsquo s
customers. With a further 270 rooms awaiting renovation, all the rooms at
Mandarin Orchard are expected to be fully refurbished by FY15.
Maintain Add
We continue to see value in OUE-HT which offers dividend yields of 7.8% for
FY14 and 8.0% for FY15 and an FY14 P/BV of 0.98x. This compares with yields
of 7.0% and 7.2% and 1.0x P/BV for its peers. We maintain our Add rating.
...................CIMB
DYODD
Mandatory Cash Dividend/ Distribution
OUEHT_SGX_31Jul2014_Notice_on_BCD_Distribution_payment_2Q2014.pdf
OUE HOSPITALITY TRUST HAS ANNOUNCED A DISTRIBUTION OF 1.64 CENTS PER STAPLED SECURITY FOR THE PERIOD FROM 1-APRIL-2014 to 30-JUNE-2014, COMPRISING ENTIRELY TAXABLE INCOME DISTRIBUTION FROM OUE HOSPITALITY REAL ESTATE INVESTMENT TRUST.
Delivering good consistent results so far, coupled with high dividend yield & strong sponsor support too! Vested. =)
MtFaber ( Date: 31-Jul-2014 18:55) Posted:
For period Apr - Jun 2014 DPU declared is 1.64c. Ex date is 6 Aug and payout date is 2 Sept 2014
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For period Apr - Jun 2014 DPU declared is 1.64c. Ex date is 6 Aug and payout date is 2 Sept 2014
This one also has strong sponser.
ash902 ( Date: 04-Jul-2014 11:08) Posted:
compared to fraser H trust (coming IPO), this one got higher dividend and also lower gearing. Seems like a better choice to me
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compared to fraser H trust (coming IPO), this one got higher dividend and also lower gearing. Seems like a better choice to me
http://reitdata.com/ (highest returned yield, good dividend)
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Q1 &ndash Mar14
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DPU cts-1.680
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mkt-$0.885
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yield-7.593%
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NAV-$0.910
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Gearing-32.20%
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Hotel (69%) + Retail (31%)
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teeth53 ( Date: 08-Jun-2014 10:43) Posted:
Mkt cap 1.2bil. Total return yr to date 6.5% and dividend yield of 7.6%.
3rd highest dividend paid among billionaire counters yields above 3%
teeth53 ( Date: 06-May-2014 14:16) Posted:
This one gave good return dividend...:)
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2004 Q1 distributable income is $22.1 million generated from Mandarin Orchard Hotel and Mandarin Gallery. That is very lucrative business. 1.68 cents dividend per share for 1st quarter.
WanSiTong ( Date: 24-Jun-2014 15:44) Posted:
OUE Hospitality Trust - Milking its prime assets
Written By Stock Fanatic on Tuesday, June 24, 2014 |
■ Initiate at BUY and TP of SGD0.93 (cost of equity =8%, Tg=1.5%), offering a decent 13% total return.
■ Offers the highest yield among Singapore-based hospitality and retail S-REITs, supported by its two prime assets.
■ Good quality sponsor&rsquo s ROFR to drive future growth.
Initiate with BUY and TP of SGD0.93
OUE Hospitality Trust (OUEHT), the only trust with pure Orchard Road play, owns the integrated 125,000-sq ft high-end fashion mall Mandarin Gallery (MG 30% of revenue and portfolio value) and the upscale 1,077-room Mandarin Orchard Singapore hotel (MOS 70% of revenue and portfolio value). In our view, it stands to benefit from the growing hospitality segment in Orchard Road. OUEHT looks attractive as it offers a FY14E DPU yield of 7.3%, the highest among Singapore-based hospitality and retail S-REITs.
Positive business dynamics to drive DPU growth
Modest room additions in Orchard Road and the ongoing refurbishments to upgrade 430 rooms at MOS, will ensure RevPar for MOS remains resilient. Limited new retail space (0.31m sq ft of NLA) on Orchard Road over the next three years and measures to optimise the tenant mix at MG suggest scope for rental upside at MG. Their close proximity to key tourist attractions, commercial and medical clusters puts them in good stead to continue to ride the leisure, business and medical tourism wave. We expect visitor arrivals to be supported by new tourist attractions, and deeper penetration into the MICE and medical businesses.
Technical Analysis
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Catalyst: Crowne Plaza Changi Airport
The sponsor, OUE Limited, is a leading real-estate owner, developer and operator, who manages the Meritus hospitality brand. The sponsor&rsquo s right of first refusal (ROFR) includes Singapore&rsquo s first airport hotel, Crowne Plaza Changi Airport (320 rooms). Post development of an adjacent site, the enlarged hotel will offer 563 rooms. (Read Report)
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OUE Hospitality Trust - Milking its prime assets
Written By Stock Fanatic on Tuesday, June 24, 2014 |
■ Initiate at BUY and TP of SGD0.93 (cost of equity =8%, Tg=1.5%), offering a decent 13% total return.
■ Offers the highest yield among Singapore-based hospitality and retail S-REITs, supported by its two prime assets.
■ Good quality sponsor&rsquo s ROFR to drive future growth.
Initiate with BUY and TP of SGD0.93
OUE Hospitality Trust (OUEHT), the only trust with pure Orchard Road play, owns the integrated 125,000-sq ft high-end fashion mall Mandarin Gallery (MG 30% of revenue and portfolio value) and the upscale 1,077-room Mandarin Orchard Singapore hotel (MOS 70% of revenue and portfolio value). In our view, it stands to benefit from the growing hospitality segment in Orchard Road. OUEHT looks attractive as it offers a FY14E DPU yield of 7.3%, the highest among Singapore-based hospitality and retail S-REITs.
Positive business dynamics to drive DPU growth
Modest room additions in Orchard Road and the ongoing refurbishments to upgrade 430 rooms at MOS, will ensure RevPar for MOS remains resilient. Limited new retail space (0.31m sq ft of NLA) on Orchard Road over the next three years and measures to optimise the tenant mix at MG suggest scope for rental upside at MG. Their close proximity to key tourist attractions, commercial and medical clusters puts them in good stead to continue to ride the leisure, business and medical tourism wave. We expect visitor arrivals to be supported by new tourist attractions, and deeper penetration into the MICE and medical businesses.
Technical Analysis
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| Daily Chart |
Catalyst: Crowne Plaza Changi Airport
The sponsor, OUE Limited, is a leading real-estate owner, developer and operator, who manages the Meritus hospitality brand. The sponsor&rsquo s right of first refusal (ROFR) includes Singapore&rsquo s first airport hotel, Crowne Plaza Changi Airport (320 rooms). Post development of an adjacent site, the enlarged hotel will offer 563 rooms.
(Read Report)
Mkt cap 1.2bil. Total return yr to date 6.5% and dividend yield of 7.6%.
3rd highest dividend paid among billionaire counters yields above 3%
teeth53 ( Date: 06-May-2014 14:16) Posted:
This one gave good return dividend...:)
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http://infopub.sgx.com/FileOpen/OUEHT_Presentation_for_DBS_US_Conference_June2014.ashx?App=Announcement& FileID=300011
Crowne Plaza Changi Airport, Location &ndash The hotel has direct access to the passenger terminals. It is a five-minute drive to the Changi
Business Park and Singapore EXPO, and a 25-minute drive to the city.
Distribution Period 01 January to 31 March 2014.
Distribution Rate 1.68 cents per Stapled Security
Ex-Date 9 May 2014, 9 am.
Book Closure - 14 May 2014.
Payment - 6 June 2014.
Investment Properties 1,756.0
Total assets 1,820.8. Borrowings (secured)1 581.9.
Total liabilities 624.9
Net assets 1,195.8c. NAV per Stapled Security (S$) 0.91c
Closing price on 31 Mar 2014 0.845 Premium / (Discount) to NAV (%) (7.1)%
In addition this reit price has not gone up yet. Most reit price has already gone up.
teeth53 ( Date: 06-May-2014 14:16) Posted:
This one gave good return dividend...:)
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Put $1k in bank for one year don even can collect $3/-
DPU for period from 1st Jan 2014 to 31st March 2014 is 1.68c ($16.80)
This one gave good return dividend...:)
