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GLP full-year in line with expectations though strategic review stays under wrap

PC Lee
PC Lee5/22/2017 12:5 PM GMT+08  • 2 min read
GLP full-year in line with expectations though strategic review stays under wrap
SINGAPORE (May 22): UOB Kay Hian is maintaining its ‘hold’ on Global Logistic Properties, recommending investors enter the stock at $2.55 and exit at a target price of $2.75, or 19% discount to RNAV of $3.39/share.
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SINGAPORE (May 22): UOB Kay Hian is maintaining its ‘hold’ on Global Logistic Properties, recommending investors enter the stock at $2.55 and exit at a target price of $2.75, or 19% discount to RNAV of $3.39/share.

UOB says GLP’s FY17 results came in line with its expectations although management refrained from divulging further details on the ongoing strategic review of its business. And while China operating metrics softened this quarter, plans for a China income fund remain on the drawing board.

“Proposed dividend payout of 6 cents, unchanged from last year,” says Chang, “This represents a payout ratio of 25.3% from headline FY17 earnings and 74.7% payout from core FY17 earnings.”

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