CDL Hospitality Trusts (CDLHT)

Better earnings ahead for CDL HT as it rides local hospitality market recovery

SINGAPORE (Jan 30): Analysts are keeping a positive stance on CDL Hospitality Trusts (CDL HT) following Tuesday results announcement.

The managers of 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 in 4Q17.

CDL Hospitality Trusts kept at 'add' on acquisition of Florence hotel

SINGAPORE (Nov 19): CGS-CIMB Securities is maintaining CDL Hospitality Trusts (CDLHT) at “add” given the acquisition of Hotel Cerretani Florence will be DPU-accretive and provide the REIT exposure to the historic city of Florence, which ranks among Italy’s most visited cities.

In a Monday report, analyst Eing Kar Mei says the city also has a vibrant exhibition and fair calendar, which includes the popular ‘Pitti Immagine Uomo’, a biannual international fashion exhibition that attracted more than 30,000 visitors in June.

CDL Hospitality Trusts' Oct uptick in Singapore RevPAR a pleasant surprise

SINGAPORE (Nov 1): RHB Research and OCBC Investment Research are pleasantly surprised after CDL Hospitality Trusts (CDLHT) reported Singapore RevPAR (Revenue per available room) for the first 29 days of Oct was up 7.2% y-o-y.

Management says the high RevPAR growth was on the back of strong leisure and corporate demand with some of its hotels reaching close to 100% occupancy.

As a result, management remains optimistic on 2019 outlook and is guiding for the industry’s RevPAR growth at 3-5%.

Flight to safety driving investor interest in SREITs

SINGAPORE (Aug 24): There has been good interest in SREITs over the last couple of months with the sector bouncing 4.6% from the lows in June, says DBS Group Research.

The rebound was due to property funds switching from developers due to the additional property cooling measures in Singapore and generalist funds seeking yield given the uncertain macro backdrop arising from the trade war between China and the US.

CDL Hospitality Trusts to ride on another likely record year of visitor arrivals: UOB

SINGAPORE (June 14): UOB KayHian is maintaining its “buy” on CDL Hospitality Trusts (CDLHT) with $1.95 target given 2018 is shaping up into another record year for visitor arrivals in Singapore amid a slowdown in the supply of new hotel rooms.

UOB recently met with CDLHT management to hear the outlook on its operating performance, acquisition plans and the Singapore hospitality segment.

On the cusp of recovery, office and hospitality S-REITs worth a closer look

SINGAPORE (May 31): DBS Group Research says this could be a good time to scoop up S-REITs of selected office and hotel names given supply pressures in these sub-sectors have eased.

In a Thursday report, lead analyst Mervin Song says the oversupplied market over the past few years which resulted in muted S-REIT performance and decline in DPUs for several REITs has given way to a turnaround in the Singapore property market.

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.

Pick-up expected in performance of office and hotel S-REITs despite rising interest rates

SINGAPORE (Apr 12): Expect a pick-up in office and hotel S-REITs, while the retail and industrial logistics segments should see a slowdown, says UOB in its REITs' results preview.

With the Fed signalling two more rate hikes in 2018, S-REITs could face higher financing costs in the near term although UOB expects pickup in growth to offset the impact of higher financing cost.

In addition, REITs are also more insulated against rate hikes with a higher proportion of their financing in fixed-rate and longer-term maturity instruments.

CDL Hospitality Trusts declares 5.7% lower DPS of 2.83 cents for 4Q on rights issue

SINGAPORE (Jan 26): The managers of CDL Hospitality Trusts have declared a distribution per stapled security (DPS) for 4Q17 2.83 cents.

This is 5.7% lower than the 3.00 cents DPS announced in 4Q16 due to the enlarged stapled security base from its rights issue.

For FY17, DPS was 9.22 cents, lower compared to 9.63 cents in the same period last year.

Excluding the effect of the rights issue, DPS for FY17 would be 11.04 cents, an increase of 10.4% y-o-y.

CDL Hospitality Trusts declares 3% lower 3Q DPSS of 2.29 cents on rights issue

SINGAPORE (Oct 27): The trustee-managers of CDL Hospitality Trusts (CDLHT) has announced a Distribution per Stapled Security (DPSS) for 3Q17 of 2.29 cents, down 3% compared to 2.36 cents in 3Q16.

Excluding the effect of the rights issue which was completed in August, DPS for 3Q17 would have been 2.74 cents, an increase of 12.3%.

Revenue increased 20.7% to $54.8 million while net property income increased 15.9% to $40.4 million.

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