CDL Hospitality Trusts (CDL HT)

CDL Hospitality Trusts remains top sector pick for RHB, Maybank despite a weak 1Q

SINGAPORE (May 2): RHB Research and Maybank Kim Eng are maintaining “buy” on CDL Hospitality Trusts (CDL HT) with respective price targets of $1.77 and $1.80, while OCBC Investment Research reiterates its “hold” call as it places its $1.56 fair value under review, pending further details.

CDL Hospitality Trusts reports 3.7% lower 1Q DPU of 2.09 cents on revenue decline

SINGAPORE (April 30): The managers of CDL Hospitality Trusts (CDL HT) – a stapled group comprising CDL Hospitality Real Estate Investment Trust (H-REIT) and CDL Hospitality Business Trust (HBT) – have declared a DPU of 2.09 cents for the 1Q ended March, down 3.7% from its 1Q18 DPU of 2.17 due to lower revenue.

Ascendas REIT remains best proxy to the burgeoning S-REIT space: Maybank

SINGAPORE (April 4): Maybank Kim Eng is remaining “positive” on the Singapore REIT (S-REITs) sector on expectations of continued outperformance, while highlighting Ascendas REIT (A-REIT) as the best proxy to overall recovery across S-REITs.  

The research house has adjusted its FY19-21 distribution per unit (DPU) estimates by between -2% and +4%. It is also raising its target prices by 2-9% after adjusting for interest rate assumptions, although operating estimates remain mostly unchanged ahead of S-REITs’ results reporting over the coming weeks.

5 recommendations by Maybank as the S-REIT space eases into recovery mode

SINGAPORE (Feb 28): Maybank Kim Eng is remaining “positive” on the Singapore REIT space as it believes sector valuations will remain supported by recovering distributions per unit (DPUs), especially for hospitality; increased traction of capital recycling initiatives and acquisition momentum; and a backdrop of a slower rate hike cycle.

CDL Hospitality Trusts 4Q DPS falls 2.1% to 2.77 cents on divestment impact & ongoing AEI

SINGAPORE (Jan 29): The managers of CDL Hospitality Trusts (CDL HT), a stapled group comprising CDL REIT and CDL Hospitality Business Trust, posted a 2.1% decline in 4Q18 distribution per stapled security (DPS) to 2.77 cents from 2.83 cents a year ago.

This was mainly due to the absence of contribution from three properties, specifically two Brisbane hotels divested in Jan 2018, as well as Dhevanafushi Maldives Luxury Resort, which has been closed since June 2018 for renovations as it rebrands to Raffles Maldives Meradhoo.

CDL Hospitality Trusts reports 4.8% lower 3Q DPS of 2.18 cents amid ongoing asset enhancements

SINGAPORE (Oct 31): The managers of CDL Hospitality Trusts (CDL HT) have declared a distribution per stapled security (DPS) of 2.18 cents for 3Q18, down 4.8% from 2.29 cents a year ago in the absence of contributions from divested and temporarily closed properties.

CDL HT is a stapled group comprising CDL Hospitality Real Estate Investment Trust (H-REIT) and CDL Hospitality Business Trust (HBT).

Hospitality REIT sector kept at 'overweight' on valuations

SINGAPORE (Oct 4): CDL Hospitality Trusts remains CGS-CIMB Securities’ top pick for 2019 while Far East Hospitality Trust is its pick for the near term.

CDL-HT is expected to deliver stronger growth in 2019 due to its hotels on Orchard Road and in the Maldives.

FEHT is CGS-CIMB’s pick for the near term as iits RevPAR growth was also one of the strongest in 1H2018 due to the completion of acquisitions and AEIs.

CDL Hospitality Trusts kept at ‘add’ as proxy for recovering local hotel market

SINGAPORE (May 2): CGS-CIMB, RHB and UOB are maintaining CDL Hospitality Trusts at “add” after its results came in line with expectations.

Both 1Q18 gross revenue and NPI saw respective increases of 11.6% and 5.4% y-o-y, due to inorganic contribution from The Lowry Hotel in Manchester, UK, and Pullman Hotel Munich in Germany.

CDL Hospitality Trusts' 1Q DPS rises 7.4% to 2.17 cents on improved portfolio performance

SINGAPORE (Apr 28): The manager of CDL Hospitality Trusts (CDL HT) has announced a total distribution per stapled security (DPS) of 2.17 cents for the first quarter ended Mar 2018, up 7.4% from 2.02 cents a year ago on improved portfolio performance.

Revenue grew 11.6% to $51.8 million from $46.4 million previously, with net property income (NPI) registering a 5.4% rise over the quarter to $37.8 million from $35.9 million a year ago.

Can Singapore's hotels depend on automation to ease its manpower woes?

SINGAPORE (Apr 6): CDL Hospitality Trusts (CDL HT) is embracing automation amid a general lull in its local operations. The profitability of its Singapore hotels has been on a downtrend for the last five years, in line with the broader sector.

With the rise of sharing economy players such as Airbnb, which is now targeting business travellers and introducing features meant to entice human resource and travel managers, the pressure on hoteliers is on.

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