Stock Name: PerennialCRT
Company Name: PERENNIAL CHINA RETAIL TRUST
DBS Vickers Securities in a Mar 1 research report says: "PCRT reported a maiden distribution income of $26.4 million since listing on Jun 9, 2011, inclusive of earn out deed amount of $19.8 million. This translates to a DPU of 2.35 cents (annualized yield 6.9%).
"Meanwhile, the furniture mall is experiencing some teething hiccups as occupancy declined due to a slowdown in residential sales, which has affected demand for furniture. Occupancy stands at 56% as at Dec 11. It has also revalued its Shenyang assets up by 1.5-4.6%.
"Meanwhile, the Shenyang office component is schedule to commence operations in 4Q12. The Foshan development is likely to complete ahead of schedule and start operations by 1Q13 while the Chengdu Qingyang is on track to begin in 2Q14. Target price of 83 cents. MAINTAIN BUY."
Company Name: PERENNIAL CHINA RETAIL TRUST
| Research House: DBS Vickers | Price Call: BUY | Target Price: 0.83 |
DBS Vickers Securities in a Mar 1 research report says: "PCRT reported a maiden distribution income of $26.4 million since listing on Jun 9, 2011, inclusive of earn out deed amount of $19.8 million. This translates to a DPU of 2.35 cents (annualized yield 6.9%).
"Meanwhile, the furniture mall is experiencing some teething hiccups as occupancy declined due to a slowdown in residential sales, which has affected demand for furniture. Occupancy stands at 56% as at Dec 11. It has also revalued its Shenyang assets up by 1.5-4.6%.
"Meanwhile, the Shenyang office component is schedule to commence operations in 4Q12. The Foshan development is likely to complete ahead of schedule and start operations by 1Q13 while the Chengdu Qingyang is on track to begin in 2Q14. Target price of 83 cents. MAINTAIN BUY."
No comments:
Post a Comment