Stock Name: SuntecReit
Company Name: SUNTEC REAL ESTATE INV TRUST
DBS Vickers Securities in a Sept 13 research report says: "UBS is understood to have renewed its lease for about 150,000sf at Suntec Tower 5 for three years. As at June 2011, the trust has about 74,313sf and 449,023sf of offices leases expiring in FY11 and FY12 respectively.
"Tying UBS's lease, which represent 30% of next year's expiring NLA, will mean that the trust will have a smaller tranche of leases to renew going into next year. We understand from management that they will continue to carry out early negotiations for some of the other tenants progressively.
"The group proactive efforts in lease management will help to minimize downside risk to Suntec's occupancy which is currently at a high of 99.5%. Target price of $1.69. MAINTAIN BUY."
Company Name: SUNTEC REAL ESTATE INV TRUST
| Research House: DBS Vickers | Price Call: BUY | Target Price: 1.69 |
DBS Vickers Securities in a Sept 13 research report says: "UBS is understood to have renewed its lease for about 150,000sf at Suntec Tower 5 for three years. As at June 2011, the trust has about 74,313sf and 449,023sf of offices leases expiring in FY11 and FY12 respectively.
"Tying UBS's lease, which represent 30% of next year's expiring NLA, will mean that the trust will have a smaller tranche of leases to renew going into next year. We understand from management that they will continue to carry out early negotiations for some of the other tenants progressively.
"The group proactive efforts in lease management will help to minimize downside risk to Suntec's occupancy which is currently at a high of 99.5%. Target price of $1.69. MAINTAIN BUY."
No comments:
Post a Comment