Stock Name: Cambridge
Company Name: CAMBRIDGE INDUSTRIAL TRUST
DBS Vickers Securities in an Oct 14 research report says: "Gross revenues and net property income were up by 13.9% and 10.3% to $20.7 million and $17.6 million respectively. Distributable income came in at $12.9 million, +19% y-o-y.
"DPU was lower by 8.8% y-o-y due to increased share base from share placement in April 2011, but is an improvement from a quarter ago. Ongoing asset recycling by the manager will ensure that CREIT's portfolio remain fresh and relevant. Gearing of 33% is comfortable and with no debt refinancing over the next 2 years.
"Prospective FY2011-2012 DPU yield of 9.5-11.1% is attractive. Revised target price of 58 cents. We slightly raised our FY2012/2013 earnings to account for new acquisitions/BTS projects. BUY"
Company Name: CAMBRIDGE INDUSTRIAL TRUST
| Research House: DBS Vickers | Price Call: BUY | Target Price: 0.58 |
DBS Vickers Securities in an Oct 14 research report says: "Gross revenues and net property income were up by 13.9% and 10.3% to $20.7 million and $17.6 million respectively. Distributable income came in at $12.9 million, +19% y-o-y.
"DPU was lower by 8.8% y-o-y due to increased share base from share placement in April 2011, but is an improvement from a quarter ago. Ongoing asset recycling by the manager will ensure that CREIT's portfolio remain fresh and relevant. Gearing of 33% is comfortable and with no debt refinancing over the next 2 years.
"Prospective FY2011-2012 DPU yield of 9.5-11.1% is attractive. Revised target price of 58 cents. We slightly raised our FY2012/2013 earnings to account for new acquisitions/BTS projects. BUY"
No comments:
Post a Comment