Soilbuild Business Space REIT (Soilbuild REIT)

Soilbuild REIT kept at 'hold' by analysts on upcoming challenges
SINGAPORE (Apr 22): The manager of Soilbuild Business Space REIT (Soilbuild REIT) declared that its 1Q19 DPU dropped 9.5% to 1.198 cents from 1.324 cents in 1Q18. Income attributable to unitholders fell 8.7% to $12.7 million in 1Q19, from $14.0 million a year ago. This was mainly due to property operating expenses, finance expenses, other trust expenses and perpetual securities coupons ...
Soilbuild REIT posts 9.5% drop in 1Q DPU to 1.198 cents despite higher revenue
SINGAPORE (Apr 17): The manager of Soilbuild Business Space REIT (Soilbuild REIT) has announced distribution per unit (DPU) of 1.198 cents for the 1Q19 ended March, some 9.5% lower than DPU of 1.324 cents a year ago. Income attributable to unitholders fell 8.7% to $12.7 million in 1Q19, from $14.0 million a year ago. The manager says that this was due to property operating expenses, finance ...
Soildbuild REIT posts 4.9% increase in 4Q DPU to 1.451 cents
SINGAPORE (Jan 21): The manager of Soilbuild Business Space REIT (Soilbuild REIT) has declared distribution per unit (DPU) of 1.451 cents for the 4Q18 ended December, some 4.9% higher than DPU of 1.383 cents a year ago. This brings total DPU for FY18 to 5.284 cents, some 7.5% lower than total DPU of 5.712 cents a year ago. Gross revenue grew 24.3% to $25.8 million in 4Q18, from $20.7 ...
Soilbuild REIT valuations are now attractive, but is it worth a 'buy'?
SINGAPORE (Apr 18): OCBC Investment Research is maintaining its “buy” call on Soilbuild Business Space REIT (SB REIT) with a higher fair value estimate of 71 cents compared to 70 cents previously. On the contrary, Jefferies has downgraded its call on the REIT from “buy” to “hold” with an unchanged target price of 70 cents after lowering FY18 and FY19 DPU estimates for SB REIT by ...
Soilbuild REIT upgraded to 'buy' by OCBC after overhang on NK Ingredients lifted
SINGAPORE (Mar 29): OCBC is upgrading Soilbuild Business Space REIT to "buy" from "hold" now that there is greater clarity on the NK Ingredients issue. To recap, Singapore High Court granted a temporary moratorium on Soilbuild REIT's proceedings to take possession of the asset following an agreement between Soilbuild REIT and tenant NK Ingredients. This moratorium is subject to certain ...
Soilbuild REIT reports 11.9% lower 4Q DPU of 1.383 cents
SINGAPORE (Jan 17): The manager of Soilbuild Business Space REIT (Soilbuild REIT) announced a DPU of 1.383 cents for the 4Q17 ended Dec. This was 11.9% lower compared to 4Q16 DPU of 1.57 cents. SB REIT Management says gross revenue and net property income (NPI) fell by 4.3% to $20.7 million and 6.0% to $17.8 million respectively mainly due to lower contribution from 72 Loyang Way. For FY17 ...
Soilbuild REIT to explore investment opportunities in Australia
SINGAPORE (Nov 27): The manager of Soilbuild Business Space REIT (Soilbuild REIT) announced Monday that it is expanding its investment mandate to include Australia. SB REIT Management says it is “actively exploring” investment opportunities in Australia for the REIT. The manager says venturing beyond Singapore will help increase Soilbuild REIT’s pool of investment targets, provide ...
Soilbuild REIT announces 1.8% lower 3Q DPU of 1.374 cents
SINGAPORE (Oct 13): Soilbuild Business Space REIT of business parks and industrial properties, has declared a DPU of 1.374 cents for the 3Q17 ended Sept, 1.8% lower compared to 1.399 cents from a year ago. Gross revenue rose 4.1% to $20.5 million while net property income rose 3.0% to $17.8 million due to higher revenue from Bukit Batok Connection, West Park BizCentral, Solaris, Tuas ...
Uncertainty for Soilbuild REIT as master lease tenant in arrears
SINGAPORE (Sept 20): OCBC Investment Research is maintaining its “hold” call on Soilbuild Business Space REIT (Soilbuild REIT) with a marginally lower fair value estimate of 66 cents, from 67 cents previously. The trustee of Soilbuild REIT has issued a letter of demand to master lease tenant NK Ingredients for arrears amounting to $3.4 million and has called upon an insurance guarantee of ...
Uncertainties remain for Soilbuild REIT
SINGAPORE (April 13): OCBC Investment Research is keeping its “hold” call on Soilbuild Business Space REIT with an unchanged fair value estimate of 64 cents. Soilbuild REIT on Wednesday announced a 4.4% decline in distribution per unit (DPU) to 1.489 cents for the first quarter ended March 31, despite a 6.6% increase in distributable income to $15.6 million. “The dip was attributed to ...