Keppel DC Reit ( former K-Reit Asia )

[winston]

K-REIT ASIA - K-REIT Asia said its net property income in the third quarter rose 42.4 percent to S$17.5 million from a year earlier, and its distribution per unit was up 25.2 percent at 1.69 Singapore cents.


Source: Reuters

[winston]

Not vested. From UOBKH:-

Valuation/Recommendation

Maintain BUY with an unchanged target price of S$1.60. We use the Dividend Discount Model (required rate of return: 7.7%, terminal growth: 2.5%) to value K-REIT.

Share Price Catalyst

Positive newsflow on pre-leasing activity, acquisitions, conversions, pickup in office rentals and improving liquidity at benchmark levels.

Liquidity enhancement initiatives

http://research.uobkayhian.com/research ... 187472.pdf

[winston]

Not vested

K-Reit's Q4 DPU at 1.71 cts, FY2010 DPU up 20.6%
By ANGELA TAN


K-Reit reported on Thursday a distribution per unit (DPU) of 1.71 cents for the fourt quarter ended December 31, 2010, boosting full year DPU to 6.37 cents, up 20.6 per cent from a year ago.

Distributable income to unitholders for the fourth quarter was S$23.16 million. As a result, distributable income to unitholders for FY 2010 was S$85.63 million, up 21.4 per cent from a year ago.

Turnover for FY2010 was S$84.6 million, an increase of S$21.7 million or 34.6% over that for FY2009. This improvement was due mainly to contributions from the additional six strata floors of Prudential Tower acquired in November 2009 and the 50% stake in 275 George Street acquired in March 2010.


Source: Business Times

[winston]

Not vested

RESEARCH ALERT-Daiwa ups K-Reit Asia to outperform, target S$1.48

SINGAPORE, July 8 (Reuters) - Daiwa has upgraded Singapore's K-Reit Asia to outperform from hold and raised its target price to S$1.48 from S$1.30.

STATEMENT: Daiwa said the discount on K-Reit Asia's net asset value could narrow due to a recovery in the office sector and if it makes acquisitions that it improves its yields.

The brokerage also said it expects K-Reit to see higher rents for its major properties.

However, if K-Reit failed to acquire one of the prime grade-A office properties in Singapore from its sponsor Keppel Land , this would represent a downside risk to K-Reit's share price.

At 0308 GMT, K-Reit Asia shares were 0.75 percent higher at S$1.345, and have fallen 4.6 percent since the start of the year.

Source: Reuters

[winston]

Not vested

K-Reit Asia said its distribution per unit in the second quarter rose 17.7 percent to 1.93 Singapore cents from 1.64 Singapore cents a year earlier, helped by an increase in contribution from its one-third stake in Singapore's Marina Bay Financial Centre.

Source: Reuters

[winston]

not vested

K-REIT Asia to raise $771 mln in rights issue to buy property

SINGAPORE Oct 17 (Reuters) - Singapore's K-REIT Asia said on Monday it plans to raise S$976.3 million ($771 million) through a 17-for-20 rights issue, with most of the money going towards funding the acquisition of a office property in the city-state.

The trust, which owns commercial properties in Singapore and Australia, said it will issue 1.16 billion rights units at S$0.85 each, which represents a discount of 17.5 percent to its last closing price of S$1.03 as of Monday.

K-REIT, which is managed by property developer Keppel Land , will also raise S$602.6 million through issuing new debt.

K-REIT plans to buy a 97.5 percent stake in Ocean Financial Centre in Singapore's central business district from Keppel Land, which owns about 46 percent of K-REIT.

Source: Reuters

[mini-investor]

I thought that this is a good investment with high yield and high secured NAV... just need to buy at the right price...

http://s-reitinvestmentblog.blogspot.co ... h-new.html

[ichew]

i used to think REITs are good investment too, esp those with high yields etc
the recent 2008 crisis changed my views

REITs r good investment only at the right price, d/e ratio, & good parentage
wat's a good price? i feel a significant discount to book value is a good start

last sat's businesstimes Show Me the Money article talked abt the REIT Myth
do read it. u can find it in the archives. BT online is available daily after 6pm.

[kennynah]

i used to think that michael douglas was a good actor...but after watching his latest movie "wallstreet - money never sleeps", i changed my mind

[tonylim]

Very much depend on the "parent", some parents are cruel and abusive to their own children also.