by winston » Mon Jul 18, 2011 10:00 am
Not vested
RESEARCH ALERT-Phillip starts Sabana REIT at buy, target S$1.11
SINGAPORE, July 18 (Reuters) - Phillip Securities has initiated coverage of Singapore's Sabana Shari'ah Compliant REIT , which owns industrial properties, at buy with a target price of S$1.11.
STATEMENT: Phillip said it expects Sabana's assets to be revalued at higher valuations this year, due to a buoyant industrial property market, and an increase in its book value may be a catalyst for the REIT's share price to re-rate.
"With Sabana REIT set forth to cross S$1 billion portfolio by the year end, further upsides are expected in the second half to drive up the share price," Phillip said in a report.
Sabana also has ample capacity to raise more debt before hitting 34 percent gearing, which allows the trust to take advantage of acquisition growth, Phillip said.
At 0138 GMT, shares of Sabana were 0.53 percent higher at S$0.94, but have fallen 3.6 percent since the start of the year.
Source: Reuters
It's all about "how much you made when you were right" & "how little you lost when you were wrong"