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Big boost for Reits trusts
Industrial real estate investment trusts (Reits) will likely benefit as the Govt pushes for more higher-value-add businesses, said a new report yesterday.
Underpinned by the new economy, which is expected to boost demand for hi-specifications factories and business park space even as the current supply glut tapers off.
" We see a sustained interest in the Reits, given their steady cashflow and DPU (distribution per unit) resilience in the absence of stronger assurance on Singapore' s growth outlook," he said, adding that those with strong balance sheets and visible growth drivers will likely outperform their peers.
OUT H Trust call in 2017.
http://mystocksinvesting.com/singapore-reits/how-investments-are-reacting-to-surprising-us-events/
From DBSV 9 May
Well located assets
Well located hotels. We reiterate our BUY call with a revised TP of S$0.75. We believe OUEHT is one of the best-positioned hospitality REITs to ride out the near term headwinds in the Singapore hospitality market as demonstrated by the 1% y-o-y increase in RevPAR in 1Q16. This is due to the superior location of its properties. Mandarin Orchard is located in the heart of Orchard Road, which will not see any major new hotel supply in 2016. Meanwhile, Crown Plaza Changi Airport (CPCA) and its upcoming extension (CPEX) is the only hotel within the Changi Airport submarket and well placed to take advantage of the c.72% expansion of Changi Airport&rsquo s passenger capacity.
Opportune time to BUY during earnings lull.
With expectations of an improvement in earnings in 2H16 due to the acquisition of CPEX and opening of Michael Kors and Victoria Secret stores, we believe now is the opportune time for investors to gain exposure to a portfolio of well located hotels/malls. Its earnings are currently soft, affected by the fit out period at Mandarin Gallery, and it would benefit from the potential pick up in the Singapore hospitality market in 2017.
Removal of overhang.
OUEHT&rsquo s share price corrected over the past year due to the overhang from (1) potential capital raising to fund the acquisition of CPEX and (2) gearing that was over 40%. However, these concerns have now been addressed, following the recent rights issue which is expected to result in OUEHT&rsquo s gearing falling to c.38%.
Valuation
After accounting for the recent rights issue which raised more equity than our earlier expectations and moderating the contribution from Mandarin Gallery, we lowered our DCFbased TP to S$0.75 from S$0.85.
Key Risks to Our View
Competitive landscape. The key risk to our view is a weaker than expected outlook for the Singapore hospitality market, if our projection for a 3% recovery in tourist arrivals in FY16 does not eventuate. In addition, rents at Mandarin Gallery may fall below expectations should we see a significant deterioration in the Singapore retail scene.
On 13th April rights shares converted to mother and start trading, shares may come down as more shares flooded
teeth53 ( Date: 23-Mar-2016 07:19) Posted:
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Shares of Real Estate Investment Trusts should get a bump up this year as mutual fund managers buy ahead of a September move by Standard & Poor' s to create a new real estate sector in its classification systems.
S-Reits is back in flavour as more raising or keeping overweight call after US Fed' s decision to slow interest rate hikes.
Buy when it is cheap. Changi crown plaza hotel is at a good location. The new extension is expected to be completed in June. Hopefully the dividend will increase.
wangerism ( Date: 21-Mar-2016 14:38) Posted:
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its another dilution... become milo ice but ice melted feeling... lol
long term wise the acquisition should be a positive one. dydd
vested, will add.
VINUASAM ( Date: 21-Mar-2016 14:20) Posted:
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Any views on this rights issue. is it better to subscribe or sell of?
OUE Hospitality REIT Management Pte. Ltd., as manager of OUE Hospitality Real Estate Investment Trust (&ldquo OUE H-REIT&rdquo ) (the &ldquo REIT Manager&rdquo ), and OUE Hospitality Trust Management Pte. Ltd., as trustee-manager of OUE Hospitality Business Trust (the &ldquo Trustee-Manager&rdquo ), wish to announce that they are undertaking an underwritten and renounceable rights issue (the &ldquo Rights Issue&rdquo ) of 441,901,257 new stapled securities in OUE Hospitality Trust (&ldquo OUE H-Trust&rdquo ) (&ldquo Rights Stapled Securities&rdquo ) to raise gross proceeds of approximately S$238.6 million.
Pursuant to the Rights Issue, the Rights Stapled Securities will be offered at the rights ratio (&ldquo Rights Ratio&rdquo ) of 33 Rights Stapled Securities for every 100 existing stapled securities in OUE HTrust (&ldquo Existing Stapled Securities&rdquo ) held as at the time and date on which the transfer books and register of stapled securityholders of OUE H-Trust (&ldquo Stapled Securityholders&rdquo ) will be closed to determine the provisional allotments of Rights Stapled Securities to the Eligible Stapled Securityholders (as defined herein) (the &ldquo Rights Issue Books Closure Date&rdquo ) (fractional entitlements to be disregarded). 2 The Rights Issue would provide Stapled Securityholders with the opportunity to subscribe for their pro rata entitlement to the Rights Stapled Securities (the &ldquo Rights Entitlement&rdquo ) at an issue price of S$0.540 per Rights Stapled Security (&ldquo Issue Price&rdquo ),
Flagship store will have more revealing items...
Hmm...maybe time to pop in take a look..then order online
Lee Yi Shyan joins OUE Hospitality Trust' s managers
http://www.straitstimes.com/business/companies-markets/lee-yi-shyan-joins-oue-hospitality-trusts-managers
Actually what they mean by first South-east Asia flagship store in Singapore? I already see them everywhere here.
Secret_Squirrel ( Date: 09-Jan-2016 21:07) Posted:
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Strait times reported that Victoria' s Secret will open its first South-east Asia flagship store in Singapore by year-end and unveil a full assortment of its sexy wares.
The international lingerie brand will open its 12,000 sq ft outlet in the fourth quarter of the year at Mandarin Gallery in Orchard Road.
teeth53 ( Date: 05-Jan-2016 08:14) Posted:
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With current trading price. Dividend distribution csn be higher. Last closed at 0.755 cents
Its hotels have good locations. But the rates has gone down. Have just check under trivago . Crown plaza best rate per night from 3 jan to 4 jan is only $245, orchard manadrin is $303.05. Seems that room rates had drop after new year.
teeth53 ( Date: 02-Jan-2016 20:04) Posted:
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One of the best Reits with solid 8% ++ dividends.
This boring counter started to inch up.
victortan ( Date: 13-May-2015 17:20) Posted:
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test
OUE Htrust XD liao. :) Last closed@$0.935c with volume of 1,631,600 share traded.
Secret_Squirrel ( Date: 07-May-2015 21:47) Posted:
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At the current price, OUE-HT trades at 6.9% annualized 1Q15 yield and 1.04x P/B.
Latest broker ratings:
CIMB downgrade to Hold with TP of $1.01
KGI downgrade to Hold with TP of $0.99 (prev. $1.04)
OCBC maintains Hold with TP of $0.92 (prev. $0.94)