Stock Name: Starhill Gbl
Company Name: STARHILL GLOBAL REIT
OCBC Investment Research in a July 26 research report says: "Starhill Global REIT reported 2Q11 revenue of $44.2 million, up 18.9% y-o-y. This came in broadly in line with the street's and our estimates and constituted 24% of our FY2011 forecast.
"The incremental revenue was mainly attributed to the contribution from the Malaysian properties acquired Jun 10, and improved performance from Renhe Spring Zongbei and David Jones Building, offset by lower numbers from the Singapore and Japan assets.
"Distributable income for 2Q11 came in at $20.2 million which was 14.3% higher y-o-y. This translates to a DPU of 1.04 cents, bringing 1H11 DPU to 2.11 cents. Based on the last unit price of 65.5 cents, this represents an annualized yield of 6.49%. Fair value estimate of 70 cents. MAINTAIN BUY."
Company Name: STARHILL GLOBAL REIT
| Research House: OCBC | Price Call: BUY | Target Price: 0.70 |
OCBC Investment Research in a July 26 research report says: "Starhill Global REIT reported 2Q11 revenue of $44.2 million, up 18.9% y-o-y. This came in broadly in line with the street's and our estimates and constituted 24% of our FY2011 forecast.
"The incremental revenue was mainly attributed to the contribution from the Malaysian properties acquired Jun 10, and improved performance from Renhe Spring Zongbei and David Jones Building, offset by lower numbers from the Singapore and Japan assets.
"Distributable income for 2Q11 came in at $20.2 million which was 14.3% higher y-o-y. This translates to a DPU of 1.04 cents, bringing 1H11 DPU to 2.11 cents. Based on the last unit price of 65.5 cents, this represents an annualized yield of 6.49%. Fair value estimate of 70 cents. MAINTAIN BUY."
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