CDL Hospitality Trusts

Singapore REIT sector climbs 18.6% on average year-to-date, outperforms STI

SINGAPORE (Sept 20): Singapore’s 31 real estate investment trusts (REITs) and six stapled trusts have averaged a total return of 18.6% in the year to date, according to Singapore Exchange (SGX).

The SGX S-REIT 20 Index – an index of 20 of the largest and most tradeable REITs in Singapore – has performed even better on average, gaining 20.4% so far this year.

In comparison, the benchmark Straits Times Index has climbed 12.0%.

Stocks to stay volatile in Sept on geopolitics, central banks and lacklustre 2Q

SINGAPORE (Sept 6): DBS expects August’s market choppiness to continue into September over uncertainty policy actions over central banks, the risk of escalating geopolitical tensions in the Korean peninsula plus a lacklustre 2Q results season.

“Near-term resistance for the Straits Times Index is around 3,320 with downside risk to 3,210 technical support. Below this, base support is at 3,100,” says the research house in a Wednesday report.

The time to look into hospitality REITs is now

SINGAPORE (Aug 4): Chong Kee Hiong, CEO of OUE Hospitality Trust (OUE-HT)’s manager, senses from his regular interaction with investors that the market is looking for an inflection point in the hotel sector.

“More investors are looking into this segment and we are getting more enquiries, and the same group of investors is seeing other hospitality players. It’s a very macro picture for these investors,” Chong says.

The local hotel sector has been in a slump for years as a result of a surge in the supply of rooms that outpaced demand.

CDL Hospitality Trusts 1H DPS falls 4.7% to 4.10 cents on rights issue

SINGAPORE (July 28): The managers of CDL Hospitality Trusts (CDLHT) post a 4.7% decline in distribution per stapled security (DPS) of 4.10 cents for the first half ended June, from a restated DPS of 4.30 cents a year ago.

This is after taking into account a rights issue launched by CDLHT on June 27, 2017, with new stapled securities to be listed on Aug 2, 2017.

Excluding the effects of the rights issue, DPS would have increased by 10.3% to 4.91 cents in 1H 2017, from 4.45 cents a year ago.

Is it wise to invest in business trusts?

SINGAPORE (July 14): With NetLink NBN Trust marketing its $2.3 billion IPO — the largest since the US$5.5 billion offering of Hutchison Port Holdings Trust (HPHT) in 2011 — it seems a good time to take stock of the performance of other locally listed business trusts.

CDL Hospitality Trusts gets a DPU kick from The Lowry

Credit: Irish Times

SINGAPORE (May 8): DBS is maintaining its “buy” call on CDL Hospitality Trusts with a revised target price of $1.75, translating to 13% capital upside and 6.4% yield.

This comes after last week’s announcement the manager is buying  The Lowry Hotel in Manchester for GBP52.9 million ($94.7 million) and on a 7.3% proforma FY16 NPI yield.

Including stamp duty and fees, the total acquisition costs stands at GBP53.8 million.

CDL Hospitality Trusts buys The Lowry Hotel in Manchester for $95 mil

SINGAPORE (May 4): The trustee managers of CDL Hospitality Trusts have acquired The Lowry Hotel in Manchester city centre, the UK, for a consideration of £52.9 million ($94.7 million).

The five-star luxury hotel is best known for being block-booked by Manchester United Football Club before each home game so that the team can have a good rest the night before.

Turnaround in sight for this hospitality trust as supply headwinds abate

SINGAPORE (April 27): RHB is upgrading its call on CDL Hospitality Trusts (CDL HT) from “hold” to “buy”, raising its price target to $1.62 from $1.47 previously on the belief that the hospitality REIT is nearing inflection point.

To recap, the managers of CDL HT yesterday posted a 9% increase in 1Q17 distribution per stapled security (DPS) of 2.42 cents, supported by strong net property income (NPI) growth from Grand Millennium Auckland as a result of higher variable rental income.

CDL Hospitality Trusts reports 9% rise in 1Q17 DPS of 2.42 cents

SINGAPORE (April 26): The managers of CDL Hospitality Trusts reported 1Q17 distribution per stapled security of 2.42 cents, up 9% from a year ago.

Total distribution rose 10% to $24.1 million while net property income came in at $35.9 million, an increase of 6.4% compared to 1Q16.

The managers said this was supported by strong NPI growth from Grand Millennium Auckland as a result of higher variable rental income which was driven by stronger performance.

CDL HT, CRCT, Sembcorp, OUE HT, Keppel T&T, MCT, Union Steel

SINGAPORE (Jan 26): Here are some stocks that could move the market this Thursday morning.

CDL Hospitality Trusts has announced a DPU of 3.11 cents for the 4Q ended Dec, 3.3% higher than a year ago on the back of higher capital distribution. This brings FY16 total DPU to 10 cents, 0.6% lower than the 10 cents declared a year ago. CDLHT closed 2 cents lower at $1.39.

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