Stock Name: Sabana REIT
Company Name: SABANA SHARI'AH COMPLIANT REIT
Phillip Securities Research in an Oct 21 research report says: "Sabana REIT reported slightly higher gross revenue and net property income, with an increase of 0.1% q-o-q to $17.4 million and $16.6 million respectively in 3Q11.
"Distributable income was $13.6 million, 1.5% q-q lower than previous quarter due to higher other trust expenses. With a dip in distributable income, DPU pared down to 2.14 cents. FY2013 DPU will slide down but recover in FY2014 and FY2015. Sabana REIT will keep refinancing risk at bay as loan will only mature in 2H 2013.
"We raised the cost of equity to 10% to take into consideration of escalating macro-economic risks. This trims our target price to $1.08 with a potential upside 19.3%. BUY"
Company Name: SABANA SHARI'AH COMPLIANT REIT
| Research House: Phillip Securities | Price Call: BUY | Target Price: 1.08 |
Phillip Securities Research in an Oct 21 research report says: "Sabana REIT reported slightly higher gross revenue and net property income, with an increase of 0.1% q-o-q to $17.4 million and $16.6 million respectively in 3Q11.
"Distributable income was $13.6 million, 1.5% q-q lower than previous quarter due to higher other trust expenses. With a dip in distributable income, DPU pared down to 2.14 cents. FY2013 DPU will slide down but recover in FY2014 and FY2015. Sabana REIT will keep refinancing risk at bay as loan will only mature in 2H 2013.
"We raised the cost of equity to 10% to take into consideration of escalating macro-economic risks. This trims our target price to $1.08 with a potential upside 19.3%. BUY"
No comments:
Post a Comment