real estate

Singapore's main real estate brokerages offer great value and defense, say analysts

SINGAPORE (June 7): Phillip Capital and CGS-CIMB Research are initiating positive coverage on both APAC Realty and PropNex, the two main market players within Singapore’s real estate brokerage sector.

In a Monday report, Phillip analyst Tara Wong says she likes both stocks for their market dominance within the real estate brokerage market in Singapore, which in turns allows to them to capture a substantial amount of transactions in both buyer and seller markets.

Why RHB remains positive on APAC Realty despite 1Q earnings miss

SINGAPORE (May 29): RHB Research is reiterating its “buy” call on APAC Realty while lowering its target price on the stock to 67 cents from 72 cents previously after cutting FY19-21F earnings to account for reduced private resale volume assumptions.

Blackstone pushes 2018 global real estate AUM to US$3.2 trillion mark with a record-breaking year

SINGAPORE (May 22): Total real estate assets under management (AUM) for 2018 rose 12% to US$3.2 trillion ($4.4 trillion) from US$2.8 trillion in 2017, according to this year’s ANREV/INREV/NCREIF Fund Manager Survey.

This year’s total global AUM growth was led by the largest contributor Blackstone Group as the firm made history by breaching the US$200 billion mark, followed by Brookfield Asset Management which saw a 20.5% y-o-y surge in total real estate AUM to US$187.3 billion.

iREIT Global reports 2.7% lower 1Q DPU of 1.42 cents on higher expenses, forex changes

SINGAPORE (May 16): The manager of iREIT Global has declared a 1Q19 distribution per unit (DPU) 1.42 cents, declining 2.7% from 1.46 cents a year ago due to higher property operating expenses and a weaker SGD/EUR exchange rate.

This represents an annualised distribution yield of 7.6% based on the REIT’s closing price of 74.5 cents on the last trading day of 1Q.  

In euro terms, DPU for 1Q fell 1.1% to 0.89 euro cent from 0.90 euro cent a year ago due to higher property operating expenses.

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.

Ascott Residence Trust's 1Q DPU rises 7% to 1.45 cents on improved operating performance

SINGAPORE (April 30): The manager of Ascott Residence Trust (ART) has declared a 1Q19 distribution per unit (DPU) of 1.45 cents, rising 7% on-year from the 1.35 cents it posted a year ago due to better operating performance, lower financing costs and a one-off realised exchange gain.

Revenue for 1Q grew 3% y-o-y to $115.9 million from $112.8 million previously on improved performance from properties across Singapore, Philippines and the UK.

Manulife US REIT acquires Virginia asset for US$122 mil; proposes US$94 mil private placement to fund deal

SINGAPORE (April 29): Manulife US REIT has agreed to acquire a freehold 11-storey Class ‘A’ office asset at the Washington Metropolitan area in Fairfax, Virginia, for a consideration of US$122 million ($166.1 million) from Carr Properties.

Comprising two towers dubbed Centrepointe I and II, the property is located along 4000 and 4050 Legato Road and features a total net lettable area (NLA) of 419,981 sq ft with 1,456 parking spaces.

Suntec REIT looks to expand Australia footprint with $150 mil private placement

SINGAPORE (April 24): Suntec REIT’s manager ARA Trust Management is proposing to issue 84.7 million new units of the REIT at $1.77 to $1.81 per new unit in its bid to raise up to $150 million of gross proceeds, with the possibility of increasing the size of the private placement by up to an additional $50 million.

The price range of the unit placement represents a discount of between 5.8% and 3.7% of the volume weighted average price of $1.879 per unit in the REIT as at the close of Wednesday.

Sabana REIT posts 14.8% lower DPU of 0.75 cent amid market challenges, portfolio optimisation

SINGAPORE (April 22): The manager of Sabana Shari’ah Compliant Industrial Real Estate Investment Trust (Sabana REIT) has announced a 1Q19 DPU of 0.75 cent, down 14.8% y-o-y from 0.88 cents a year ago due to lower revenue and net property income (NPI).

This was largely attributed by the manager to a challenging market and portfolio optimisation, which saw the REIT divest non-performing and mature properties in recent quarters.

Macro jitters propel S-REIT inflows to $240 mil in 1Q19

SINGAPORE (Apr 4): Singapore REITs (S-REITs) have a seen net institutional inflows of $82.7 million, $42.7 million and $114.2 million for the respective first three months of 2019, according to recent SGX data for 1Q19.

This brings the sector’s inflows to $239.6 million for 1Q19, with S-REITs being the top net buy sector in Jan 2019.

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