Stock Name: AIMSAMPI Reit
Company Name: AIMS AMP CAP INDUSTRIAL REIT
SIAS Research in an Apr 23 research report says: "Gross revenue grew by 14.7% to $84 million due to (1) first full year contribution from 27 Penjuru Lane and North Tech and (2) built-in rental escalation of 2% p.a. from master leases. "Borrowing costs also fell from $18.3 million in FY2011 to $11 million this year, which helped boost net income (excluding revaluation gains) by 34.9% to $40.3 million. Distribution per unit (DPU) grew by 5.3% to 10.45 cents in FY2012. Upon the completion of 20 Gul Way, the management expects DPU to increase by another 1.465 cents. "We expect AA REIT to maintain a stable dividend payout of 10 cents over the next two years, with the potential to increase to 11.5 cents in FY2015. We increase our intrinsic value to $1.30 as we raise our dividend payout forecast for FY2013-2015. MAINTAIN INVEST."
Company Name: AIMS AMP CAP INDUSTRIAL REIT
| Research House: SIAS | Price Call: BUY | Target Price: 1.30 |
SIAS Research in an Apr 23 research report says: "Gross revenue grew by 14.7% to $84 million due to (1) first full year contribution from 27 Penjuru Lane and North Tech and (2) built-in rental escalation of 2% p.a. from master leases. "Borrowing costs also fell from $18.3 million in FY2011 to $11 million this year, which helped boost net income (excluding revaluation gains) by 34.9% to $40.3 million. Distribution per unit (DPU) grew by 5.3% to 10.45 cents in FY2012. Upon the completion of 20 Gul Way, the management expects DPU to increase by another 1.465 cents. "We expect AA REIT to maintain a stable dividend payout of 10 cents over the next two years, with the potential to increase to 11.5 cents in FY2015. We increase our intrinsic value to $1.30 as we raise our dividend payout forecast for FY2013-2015. MAINTAIN INVEST."
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