asset recycling

CapitaLand injects two Shanghai office buildings to discretionary equity fund as seed assets

SINGAPORE (May 24): CapitaLand is injecting two prime Shanghai office buildings into CapitaLand Asia Partners I – the group’s maiden discretionary real estate equity fund which first closed on April 22 this year – as seed assets.

In a Friday filing, the group says it is divesting its interests in companies holding Innov Center to CapitaLand Asia Partners I, at a price that takes into account an agreed property value of RMB3.1 billion ($621 million).

Analysts like Mapletree Log on stable CWT situation, positive 4Q results

SINGAPORE (Apr 30): Analysts like Mapletree Logistics Trust (MLT) given its positive 4Q19 results, stable CWT situation and capital recycling strategy.

See: Analyst sentiments on Mapletree Logistics Trust turn lukewarm due to valuations

The manager of MLT on Apr 26 announced that its 4Q19 DPU of 2.024 cents, 4.5% y-o-y , as the amount distributable to unitholders increased by 23.8% y-o-y to $73.3 million.

Cache Logistics Trust acquires logistics warehouse and office facility in Australia for $42.6 mil

SINGAPORE (Mar 20): ARA Trust Management, the manager of Cache Logistics Trust, announced that it has acquired a warehouse and office facility located in Melbourne, Australia for a total consideration of A$44.3 million ($42.6 million), with an initial property yield of 6.8%.

This acquisition was made through Cache Logistic Trust’s wholly-owned sub-trust Altonia (VIC) Trust.

Located within the industrial suburb of Altona, the freehold property’s land area is about 83,020 sqm and its net lettable area is about 37,853 sqm.

Ascendas Hospitality Trust kept at 'buy' on strong earnings visibility

SINGAPORE (Jan 30): DBS Vickers Securities is maintaining its “buy” call on Ascendas Hospitality Trust (A-HTRUST) with a target price of 98 cents, and is of the view that the trust’s asset-recycling strategy will continue to provide it earnings stability going forward.

The move comes after the manager of A-HTRUST posted a 3Q19 distribution per stapled security (DPS) of 1.45 cents, up 2.8% from a year ago and in line with expectations.

Analysts in favour of Sembcorp Industries' latest UK acquisition for earnings & growth prospects

SINGAPORE (June 4): CGS-CIMB Research and DBS Vickers Securities are maintaining their “add” and “buy” calls on Sembcorp Industries as they like the group’s latest acquisition of UK Power Reserve (UKPR), the UK’s largest flexible distributed energy generator.

The deal marks one of the first major steps the group has taken in recycling its utilities assets post its strategic review in early-2018.

Small is beautiful for Roxy-Pacific

SINGAPORE (May 15): OCBC Investment Research is reiterating its “buy” rating on Roxy-Pacific with a fair value estimate of 60 cents.

This came on the back of the group announcing that its 1Q18 earnings have increased 19% to $7.0 million, compared to $5.91 million in 1Q17.

Revenue came in at $46.4 million, 29% lower than $65.4 million a year ago, mainly due to lower contribution from the Property Development and Property Investment segments, partially offset by higher revenue from Hotel Ownership segment.

Parkway Life REIT kept at 'buy' on strong earnings visibility

SINGAPORE (Jan 29): DBS is keepings its “buy” rating on Parkway Life Real Estate Investment Trust (PLife REIT) with an increased target price of $3.15.

In a Monday report, analyst Rachel Tan says, “PLife REIT offers one of the strongest earnings visibility profiles among SREITs, with a weighted average lease expiry (WALE) of close to nine years.”

On Friday, the REIT announced its 4Q17 results, with its DPU rising 10.6% to 3.38 cents from 3.06 cents due to the one-off distribution of divestment gains, bringing total FY17 DPU to 13.35 cents.

Ascendas REIT kept at 'hold' amid positive rental reversions in Singapore

SINGAPORE (Jan 26): OCBC is maintaining its “hold” call on Ascendas Real Estate Investment Trust (AREIT) with a higher fair value of $2.69.

This is despite consensus recommending a “buy” on the REIT.

See: Analysts keep Ascendas REIT at 'buy' despite a drop in 3Q DPU

The REIT on Thursday announced its 3Q17/18 results, which were in line with the research house’s expectations.

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