Stock Name: StamfordLd
Company Name: STAMFORD LAND CORPORATION LTD
DMG & Partners Research in an Apr 23 research report says: "The group’s Australian hotels continue to benefit from strong domestic demand with occupancies hovering above 80%, while room rates have inched up in tandem. "Management allowed the MOU for the sale-and-leaseback of three of its hotels to lapse recently as it wanted to maintain flexibility to pursue other monetisation options. Revenue of its 87%-sold development project in Sydney was booked upon completion in 3QFY12, bringing in $195 million of proceeds. "Property investment continthues to perform well, underpinned by lease income in excess of A$9 million p.a. for its Perth office property. We revise our FY12-13 earnings by -24% and +6% respectively. Target price of $73 cents, pegged to 35% discount to RNAV. MAINTAIN BUY."
Company Name: STAMFORD LAND CORPORATION LTD
| Research House: DMG | Price Call: BUY | Target Price: 0.73 |
DMG & Partners Research in an Apr 23 research report says: "The group’s Australian hotels continue to benefit from strong domestic demand with occupancies hovering above 80%, while room rates have inched up in tandem. "Management allowed the MOU for the sale-and-leaseback of three of its hotels to lapse recently as it wanted to maintain flexibility to pursue other monetisation options. Revenue of its 87%-sold development project in Sydney was booked upon completion in 3QFY12, bringing in $195 million of proceeds. "Property investment continthues to perform well, underpinned by lease income in excess of A$9 million p.a. for its Perth office property. We revise our FY12-13 earnings by -24% and +6% respectively. Target price of $73 cents, pegged to 35% discount to RNAV. MAINTAIN BUY."
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