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09:34 PM EST, 01/26/2025 (MT Newswires) -- CDL Hospitality Trusts' (SGX:J85) total distribution per stapled security or DPS fell 12% year over year in the second half of 2024 to SG$0.0281 from SG$0.0319 a year earlier, according to a filing with the Singapore Exchange on Monday.
Total distribution to stapled securityholders stood at SG$35.4 million, down 11% year over year from SG$39.8 million in the comparable period.
Net property income declined 9% to SG$68.7 million from SG$75.5 million a year earlier.
Revenue was down 4% year over year to SG$132.9 million from SG$138.3 million in the year-ago period, as demand in some markets continued to normalize. Analysts polled by Visible Alpha projected revenue of SG$156.1 million.
Total distribution to stapled securityholders stood at SG$35.4 million, down 11% year over year from SG$39.8 million in the comparable period.
Net property income declined 9% to SG$68.7 million from SG$75.5 million a year earlier.
Revenue was down 4% year over year to SG$132.9 million from SG$138.3 million in the year-ago period, as demand in some markets continued to normalize. Analysts polled by Visible Alpha projected revenue of SG$156.1 million.
good pay dividend 2.8 cents on 28 feb. tiome for shorty to pay the cost of borrowing cash by shorting.
Upupupupup $1.00
they still have debt headroom of 600+m. base on 50% of limit.
but each purchase will increased asset base. new units issue will
always be options. main unit holders will have to come out with more cash.
so u think it happen?
but each purchase will increased asset base. new units issue will
always be options. main unit holders will have to come out with more cash.
so u think it happen?
DBS likes CDLHT&rsquo s strategy of expanding longer-stay lodging exposure with Liverpool PBSA acquisition
Following the acquisition of a purpose-built student accommodation (PBSA) asset in Liverpool for GBP37.3 million ($63.9 million) by CDL Hospitality Trusts J85 (CDLHT), the team of analysts at DBS Group Research have highlighted the move as a positive one, keeping their &ldquo buy&rdquo call at a target price (TP) of $1.20.
The property provides amenities spanning over 1,092 square metres (11,754 sq ft), supporting the living preferences for modern students.
They add that the deal price of GBP40.6 million translates to a price per bed of GBP92,000, which is below both the asset&rsquo s last valuation by about 5.4% and replacement cost of around 18%.
Additionally, the acquisition price includes a small fee of GBP1 million for land rights to an adjacent land site next to the property, which the team at DBS notes could serve as an extension to the original building to yield another 144-keys if deployed.
&ldquo The added option for further development will also allow CDLHT to increase longer-stay bed exposure in the future and translate to higher valuations and yields.&rdquo
Overall, the team sees that CLDHT has been selective in acquiring properties that offer both strong accretion and entry below replacement cost. While the Initial acquisition price translates to a yield of 5.6%, they note that it should see stabilisation past the 6% mark.
With the property serving a community of some 55,000 students in Liverpool, occupancy is expected at around 95% thanks to its prime location, with further upside in rents expected from the current GBP184 fee per week in this leasing cycle.
The team writes: &ldquo The acquisition is expected to be distribution per unit (DPU) accretive at 1.3%, which is strong in consideration to asset&rsquo s size within the overall portfolio, which we believe should stand out to investors.&rdquo
&ldquo We continue to like CDLHT&rsquo s strategy to expand its longer-stay lodging exposure, which provides both stability and income visibility to its hotel-heavy portfolio.&rdquo
Quote: " 1) CDLHT had entered into a forward purchase turnkey arrangement for a lifestyle hotel, Moxy Singapore Clarke Quay, with a subsidiary of City Developments Limited (" CDL" ) under a conditional development and sale agreement. Moxy Singapore Clarke Quay is expected to achieve Temporary Occupation Permit (" TOP" ) in 2026."
They may be going to resort to fund raising aka rights issue to pay for the Moxy hotel , i think $500+million if i am not wrong. So fund raising usually no good for share price
They may be going to resort to fund raising aka rights issue to pay for the Moxy hotel , i think $500+million if i am not wrong. So fund raising usually no good for share price
pasttime ( Date: 24-Dec-2024 08:29) Posted:
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saw bus load of toursit at their hotel. no know how that will appear in their p& l
competition in singapore has become more intense with more hotels in city compared to precovid.
no know if w is hit by previous oil spill. really think sentosa should have a layer of floating divider to suround the island to protect it from oil spill.
genting crowded. wonder it is local or foreigner.
competition in singapore has become more intense with more hotels in city compared to precovid.
no know if w is hit by previous oil spill. really think sentosa should have a layer of floating divider to suround the island to protect it from oil spill.
genting crowded. wonder it is local or foreigner.
CDL Hospitality Trusts ventures into student accommodation with £ 37.3 million UK deal
The purchase also includes vacant land that is adjacent to the student accommodation asset
CDL Hospitality Trusts is venturing into the student accommodation business for the first time, with the purchase of a purpose-built student accommodation (PBSA) in Liverpool, United Kingdom.
The PBSA is part of CDL Hospitality Trusts : J85 0%&rsquo (CDLHT) wider acquisition of freehold land, which also comprises a piece of vacant land adjacent to the student accommodation asset, said the trusts&rsquo managers in a bourse filing on Thursday (Dec 19).
The whole site &ndash the PBSA and adjacent vacant land &ndash was acquired for £ 37.3 million (S$63.9 million).
The total cost of the acquisition is about £ 40.6 million, which includes an estimated £ 3.3 million in transaction costs.
The deal will be funded through debt financing, with CDLHT&rsquo s pro forma gearing ratio to increase to 40.2 per cent, from 38.8 per cent pre-acquisition.
The PBSA, Benson Yard, was opened in February 2023. It will continue to be managed by the existing operator, Fresh Property, after the transaction is completed.
The vacant freehold land has planning consent for a 144-key hotel to be built. However, CDLHT said that feasibility studies will still need to be conducted to determine the best use of the land.
Other options include building another PBSA block, instead of a hotel, as it could complement the existing Benson Yard.
CDLHT said this acquisition follows its revised principal investment strategy made in 2021 to diversify into adjacent living assets.
It added that Benson Yard will contribute to a more diversified and balanced income profile, aligning with CDLHT&rsquo s broader strategic objectives for stable long-term growth and income resilience. This is because PBSAs operate on different demand drivers compared to traditional hospitality assets.
The asset&rsquo s attractive location will support its occupancy and profile as a defensive asset, the trusts&rsquo managers said. As at Dec 10, Benson Yard has an occupancy of 95 per cent for the academic year running from Sep 1, 2024 to Aug 31, 2025.
Based on rents for the leases signed in the academic year, the pro forma net property-income yield is about 5.6 per cent. This does not include any additional leases to be signed, as well as summer income during the rest of this academic year.
The deal is expected, on a pro forma basis, to achieve a 1.3 per cent growth in CDLHT&rsquo s distribution per stapled security.
CDLHT also said that there is upside potential in future academic years as Benson Yard solidifies its reputation and garners more brand awareness, given that the PBSA has not fully stabilised.
Vincent Yeo, chief executive officer of the managers, said: &ldquo Importantly, we were able to secure this acquisition from administrators at a meaningful discount relative to current replacement cost and independent valuation, positioning the asset for capital appreciation in the future, amid elevated institutional investment interest.&rdquo
CDLHT is a stapled group comprising CDL Hospitality Real Estate Investment Trust and CDL Hospitality Business Trust, and the securities of each entity are listed and traded as one unit, known as stapled securities.
As we have established , it is largely seasonal
Arrival has been going up.
Sept and Oct 2023 was 1.13million for both mth
Sept and Oct 2024 is 1.27million and 1.31million
==> tourism still improving
Sept and Oct 2023 was 1.13million for both mth
Sept and Oct 2024 is 1.27million and 1.31million
==> tourism still improving
pasttime ( Date: 08-Nov-2024 06:46) Posted:
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10 year yields had already been falling just before rate cut announcements (since ytd) in anticipation of 25 bps cut.
We are not sure how 10 year yields will proceed from here. Its entirely market dependent and not entirely on the fed.
We are not sure how 10 year yields will proceed from here. Its entirely market dependent and not entirely on the fed.
luckyguy3 ( Date: 08-Nov-2024 07:37) Posted:
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after rate cut, 10y yield tanked and chance of Dec rate cut increased.
Looks like those who sold ytd will regret.
Ytd it was less than 70% of a rate cut in Dec but after FED cuts rate, now increase to 74%
Looks like those who sold ytd will regret.
Ytd it was less than 70% of a rate cut in Dec but after FED cuts rate, now increase to 74%
pasttime ( Date: 08-Nov-2024 06:46) Posted:
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Reits still under pressure as rates cuts are expected to be more gradual and data dependent. There are no set plan cuts. All depends on how us politicians decided fiscally and then fed will adapt correspondingly. So uncertainty is there especially with change in us administration. We cannot therefore assume quick successive rate cuts from henceforth. Reits will take time to recover.
fed cut interest rate by 1/4 % to 4.5% .
nice for all reits who needs to borrow and
especially good for cdl htrust as they have more floating rates.
nice for all reits who needs to borrow and
especially good for cdl htrust as they have more floating rates.
I'll be sleepng deeply. Pls dun wake me up until next spring when dividend paid. If you make anything in Nov, drop by my cave and leave me some honey. Will be very grateful.
luckyguy3 ( Date: 31-Oct-2024 18:43) Posted:
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come back to this thread end of Nov and we will see.. cheers
MrBear12 ( Date: 31-Oct-2024 18:41) Posted:
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All the best then. You need all the good news.
I neutral , because I sleep in caves and not hotels.
I neutral , because I sleep in caves and not hotels.
hahaha... nothing is 100% one.. but if just want to gamble abit.. but agrees with u , this one keep for long term
dividend investment
dividend investment
MrBear12 ( Date: 31-Oct-2024 18:39) Posted:
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Wad if it falls?
luckyguy3 ( Date: 31-Oct-2024 18:35) Posted:
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