Stock Name: Starhill Gbl
Company Name: STARHILL GLOBAL REIT
OCBC Investment Research in an Apr 27 research report says: "Starhill Global REIT (SGREIT) reported 1Q12 NPI of $37.3 million and DPU of 1.07 cents. The results were in line with both our and consensus expectations, with headline numbers forming 24.7-25.5% of our/consensus full-year forecasts.
"Singapore portfolio contributed $22.2 million (59.4%) to 1Q12 NPI, up 1.0% y-o-y. Growth in NPI was also registered at its assets in other geographical locations such as Japan and Australia. Management intends to embark on a series of tenancy works over next two quarters to enhance the property’s retail offerings and boost its advertising activities.
"SGREIT also maintains that Wisma Atria redevelopment is on track for completion in 3Q. SGREIT’s aggregate leverage is at a healthy 30.4%, while average lease term is strong at 6.6 years (99.0% overall occupancy). Unchanged fair value of 70 cents. MAINTAIN BUY."
Company Name: STARHILL GLOBAL REIT
| Research House: OCBC | Price Call: BUY | Target Price: 0.70 |
OCBC Investment Research in an Apr 27 research report says: "Starhill Global REIT (SGREIT) reported 1Q12 NPI of $37.3 million and DPU of 1.07 cents. The results were in line with both our and consensus expectations, with headline numbers forming 24.7-25.5% of our/consensus full-year forecasts.
"Singapore portfolio contributed $22.2 million (59.4%) to 1Q12 NPI, up 1.0% y-o-y. Growth in NPI was also registered at its assets in other geographical locations such as Japan and Australia. Management intends to embark on a series of tenancy works over next two quarters to enhance the property’s retail offerings and boost its advertising activities.
"SGREIT also maintains that Wisma Atria redevelopment is on track for completion in 3Q. SGREIT’s aggregate leverage is at a healthy 30.4%, while average lease term is strong at 6.6 years (99.0% overall occupancy). Unchanged fair value of 70 cents. MAINTAIN BUY."
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