Buy @ $0.84, $0.835
Results was out yesterday evening. DPU = 1.25ct, slightly better than last Q = 1.24ct, but slightly worse off on an annualised basis. Revenue was dragged down by the overseas assets (biggest drop was in Chengdu) but offset by better performance in Singapore and lower Expenses.
Vol = 2,602,000 ; Range = $0.83 to $0.845.
Perhaps the preferred Retail + Office REIT is now FCT, with CMT & Starhill Global falling out of favour?? 😀
Exracts fm CIMB,
Starhill Global Reit on Tuesday posted a distribution per unit of 1.25 Singapore cents for its second quarter ended June 30, a 5 per cent increase from its distribution a year ago. On an annualised basis, this translates to a yield of 6.07 per cent. Unitholders can expect to receive their payout on Aug 28. Net property income rose marginally by 0.2 per cent to S$39.2 million, while revenue fell 1.4 per cent to S$48.4 million. While revenue and net property income from its Singapore operations rose 3.6 per cent and 5.5 per cent, respectively, it was offset by weaker overseas contributions due to falling revenue from Renhe Spring Zongbei in Chengdu, and loss of income contribution from its Japan divestment, Holon L, in March 2014. (BT)