Keppel DC Reit ( former K-Reit Asia )

Re: K-Reit

Postby mini-investor » Sat Dec 17, 2011 2:43 pm

K-REIT price is falling and staying below rights price... Rights issue is not oversubscribed which I thought was a bad news... Looking closely...

http://s-reitinvestmentblog.blogspot.co ... ia_13.html
mini-investor
Loafer
 
Posts: 25
Joined: Wed Jan 19, 2011 9:23 pm

Re: K-Reit

Postby winston » Fri Jul 06, 2012 12:05 pm

not vested

Maybank upgrades K-REIT to hold

Maybank Kim Eng upgraded K-REIT Asia , which owns commercial buildings, to 'hold' from 'sell' and raised its target price to S$0.99 from S$0.83, citing steps the trust took to improve unitholders' returns.

By 0257 GMT, units of K-REIT were flat at S$1.075, and have gained about 29.6 percent since the start of the year, compared to the FT ST Real Estate Investment Trust's <.FTFSTAS8670> 18 percent rise.

Maybank said a move by K-REIT to convert a vehicle to limited liability partnership from private limited company will result in greater tax transparency and estimated annual tax savings of S$2.2 million to S$5.2 million for 2012-2015, leading to higher distributions to unitholders.

K-REIT also acquired additional 12.4 percent stake in Ocean Properties, bringing its interest to 99.9 percent.

As a result, Maybank has raised its distribution per unit estimates for K-REIT by 6-12 percent for 2012-2014.


Source: Reuters
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118528
Joined: Wed May 07, 2008 9:28 am

Re: K-Reit

Postby winston » Tue Jul 17, 2012 9:14 am

And the leasing continues

OUTPERFORM - Maintained
Share Price S$1.12
Tgt. S$1.21

--------------------------------------------------------------------------------

K-REIT’s portfolio remains hardy with continued lease take-ups at some key assets.

Management also highlighted that it is not looking at an acquisition of MBFC Tower for now, allaying fears of near-term equity fund raising.

We think yields of 7% remain compelling for now.

2Q12/1H12 DPUs were in line with our estimates at 26/51% of our full-year numbers, but slightly above consensus.

We raise our DPUs and DDM target price (disc. rate: 8.2%) on adjustments to interest costs and rental support.

Maintain Outperform on favourable risk-reward.


Source: CIMB
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118528
Joined: Wed May 07, 2008 9:28 am

Re: K-Reit

Postby mini-investor » Wed Sep 19, 2012 12:51 pm

One new insights and analysis posted in this blog on K-REIT Asia.

http://s-reitinvestmentblog.blogspot.sg/
mini-investor
Loafer
 
Posts: 25
Joined: Wed Jan 19, 2011 9:23 pm

Re: K-Reit

Postby winston » Tue Oct 16, 2012 8:23 am

not vested

K-REIT Asia, which owns offices, has changed its name to Keppel REIT.

The trust said its third-quarter distribution per unit was 1.96 Singapore cents, up 84.5 percent from a year earlier, helped by higher rents and property income.


Source: Reuters
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118528
Joined: Wed May 07, 2008 9:28 am

Re: Keppel Reit ( former K-Reit Asia )

Postby winston » Tue Oct 16, 2012 9:23 am

not vested

STOCKS NEWS SINGAPORE-UOB upgrades Keppel REIT to 'buy'

UOB Kay Hian upgraded Keppel REIT , previously known as K-REIT Asia, to 'buy' and raised its target price to S$1.36 from S$1.26, on expectations of improving office rentals.

Units of Keppel REIT, which owns office buildings, were up 2.5 percent at S$1.22. They have jumped 47.3 percent since the start of the year, compared with the FTSE ST Real Estate Industrial Trust's <.FTFSTAS8670> 34 percent gain.

Keppel REIT said its third-quarter distribution per unit was 1.96 Singapore cents, in line with UOB's expectations and up 84.5 percent from a year earlier, helped by higher rents and property income.

"We anticipate office rentals to bottom out in the next 2-3 quarters, with K-REIT expected to remain resilient due to its near-full occupancies, long weighted leases and its highest exposure to Grade-A office assets in Singapore," UOB said in a report.

The rate of decline for office rentals in Singapore is slowing, and UOB expects Keppel REIT to start seeing positive rental reversions, while acquisitions in Australia will also contribute to further growth.


Source: Reuters
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118528
Joined: Wed May 07, 2008 9:28 am

Re: Keppel Reit ( former K-Reit Asia )

Postby mini-investor » Sun Oct 21, 2012 5:14 pm

I disagree... It is still one of the highest yielding office REIT in Singapore.

http://www.s-reitinvestmentblog.blogspo ... -reit.html
mini-investor
Loafer
 
Posts: 25
Joined: Wed Jan 19, 2011 9:23 pm

Re: Keppel Reit ( former K-Reit Asia )

Postby winston » Fri Aug 30, 2013 9:11 am

vested

Best Grade A office play

Keppel REIT presented at Day Two of our Asean Conference in Singapore.

Singapore portfolio update. Keppel REIT sees broad-based demand in the office sector. Ocean Financial Centre (OFC) saw its occupancy rate increased further from 96.6% to 97.9% (with just half of the fifth floor left to lease). Major tenants at OFC will see rent reviews in 2015 (BNP) and ANZ (2016). As these leases were signed at low rates during the GFC, Keppel REIT expects positive rent uplift post review. Singapore portfolio occupancy rate is at 99.2% and Singapore accounts for circa 90% of assets.

Australian exposure at 10% of assets. This follows the recent acquisition of 8 Exhibition Street in Melbourne for A$160m. This will rise to 12% of assets once the Perth development is completed. Keppel REIT owns 5 office assets in four cities, all on long-term leases with annual rent escalations. 8 Chifley Square in Sydney is expected to be completed in Oct 2013 and precommitments reached 70%. The group hedges its income but not the equity.

Gearing of 43.9% post recent placement. Keppel REIT has one of the highest gearing in the sector but interest cover is high at 4.8x. In the event of a major acquisition, the group may look to divest some older assets to part fund the acquisition over and above some equity and debt issuance.

Earnings and target price revision

No changes to DPU estimates or TP.

Price catalyst

12-month price target: S$1.53 based on a DCF methodology.

Catalyst: Office rent recovery in 2H13 and into 2014.

Action and recommendation

KREIT offers the best Grade A office exposure in Singapore. It is trading on 0.94x P/BV and offers a yield of 6.3% in FY14.


Source: Macquarie
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118528
Joined: Wed May 07, 2008 9:28 am

Re: Keppel Reit ( former K-Reit Asia )

Postby winston » Tue Sep 03, 2013 8:02 pm

vested

More Compelling Valuations For The Best Office Portfolio In Singapore; Upgrade To BUY

Valuations of KREIT are more compelling as it offers a 40bp premium to the average 6.2% yield for office REITs. Equity overhang from a private placement and Keppel Corp’s distribution in-specie is largely removed.

KREIT offers the highest-quality Singapore office portfolio and will benefit from the improving office outlook. Upgrade to BUY (from HOLD) with an unchanged target price of S$1.46.


http://research.uobkayhian.com/content_ ... e2ff52bb6a
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118528
Joined: Wed May 07, 2008 9:28 am

Re: Keppel Reit ( former K-Reit Asia )

Postby winston » Mon Sep 09, 2013 7:51 pm

vested

Keppel REIT (KREIT SP, K71U) – More compelling for the best office portfolio in Singapore (BUY/Target: S$1.46)

Despite expectations of rising interest rates, we think the increase would be gradual and could commensurate with economic growth.
Hence, we believe stocks with high and sustainable dividend yields would continue to attract interest.

Valuations of KREIT are more compelling as it offers a 40bps premium to the average 6.2% yield for office REITs.

Equity overhang from a private placement and Keppel Corp’s distribution in-specie has been largely removed.

KREIT offers the highest-quality Singapore office portfolio and will benefit from the improving office outlook. We upgraded the stock to
BUY recently with a DDM-based target price of S$1.46.

Technically, KREIT is likely to be supported near S$1.14 and has a resistance level of S$1.31.

Source: UOBKH
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118528
Joined: Wed May 07, 2008 9:28 am

PreviousNext

Return to H to K

Who is online

Users browsing this forum: No registered users and 4 guests

cron