ESR-REIT
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weird transactions!
Cambridge Reit - UBS Owns...Disowns...Owns..Disowns..
14-10-2008 - UBS increases from 4.98% ---> 5.02%
13-10-2008 - UBS reduces from 5.00% ---> 4.98%
29-09-2008 - UBS increases from 1.97% ---> 5.38%
24-09-2008 - UBS reduces from 5.88% ---> 2.37%
19 -09-2008 - UBS increases from 2.56% ---> 5.82%
Wow...won't they be incurring some transaction costs there! Anyway this stock is a stock to watch given its many weird transactions by UBS.
Maybe Schroder was "dulan" and reduced their holdings from 6.05% ---> 5.988% on 10 -10-2008.
High dividend yield..yes..lock in long leases..yes ..but small scale tenants amid these troubled times. Watch this stock!
The yield going to hit 20% if continue lau sai like this !!
Schroder Investment Management Group's stake in Cambridge Industrial Trust has been reduced from 6.075% to 5.988%, owing to sale on behalf of clients by SIMHK acting as Investment Advisors.
http://info.sgx.com/webcorannc.nsf/37e9d50ee377b2304825735f00233861/c83196c723bb0010482574e2005e0cd7?OpenDocument
| CAMBRIDGE |
DPU per quarter 1.561 |
Price 0.5200 |
Yield 12.01 |
SGX MAS Research Incentive scheme
Cambridge Industrial Trust
BUY; S$0.64; CREIT SP; Price Target: S$0.92 (prev: S$0.88)
derektanresearch@dbsvickers.com
Analyst: Derek Tan +65 6398 7966
CIT to acquire Natural Cool Lifestyle Hub for
S$55.2m; to turn Shariah Compliant
Story:
entered into a put & call agreement to purchase
another industrial asset, Natural Cool Lifestyle Hub
located at 29 Tai Seng Avenue for S$55.2m. This asset
is the first out of two assets (total S$63.8m) that CIT
has lined up for future injection into its portfolio and
was already highlighted in our initiation report dated
02 July 08.
Cambridge REIT ( CIT ) announced that it has
Point:
assets with a combined appraised asset value of c
S$1.02bn. Post completion of the sale, Natural Cool
Investments Holdings Ltd will lease back the asset for a
period of 7 years.
We have assumed both assets to be injected into the
portfolio by year end. Hence, our FY09 DPU estimate is
adjusted upwards by 3% to 6.5 cts, while maintaining
our FY08 forecast of 6.2cts.
When completed, CIT's portfolio will grow to 44
Relevance:
upwards to $0.92 (from S$0.88). At the current price
of $0.64, CIT offers an attractive FY08-FY09 DPU yield
of 9.6% and 10.2% respectively.
CIT to turn into a Shariah Compliant REIT
In a separate announcement, CIT is seeking
unitholders approval to convert itself into a Shariah
compliant REIT.
CIT cites the following benefits:
(a) Capitalising on the rising demand for such products
in the REIT domain.
(b) Creating a new investor pool for the REIT.
We note that under Shariah law, CIT will not be able
to pay or receive interest. In this regard, CIT has about
$369m worth of interest bearing loans and will be
seeking advise on arranging a Shariah compliant
financing solution in this matter. We await
management to advise further on this proposed
change.
Maintain BUY on CIT with TP revised
DBS Group Research . Equity 14 July 2008
Singapore
FLASH NOTES
DBS Vickers starts Cambridge Industrial Trust at Buy with $0.88 target. Likes REIT for attractive 9% yield, backed by secured rental income, avenue for acquisition growth through strategic network with partners; "strategic alliances with Oxley Capital Group and Mitsui & Co. can provide valuable experience and network into the Asia Pacific, forming a platform for potential portfolio growth through its established wide business." Says potential pipeline of $62.8 m worth of acquisition assets could add additional $0.04 to its target price.
Announcement Date For Release Of CIT's Unaudited Results For The 2nd Quarter Ended 30 June 2008 : 29 July 2008.
Is the recent slight drop of the counter (~72-> 69) due to Oxley's interests ? I tot that is a good news..
178investors ( Date: 10-Jun-2008 15:15) Posted:
BNP take on CIT.... (i took profit last year at 89 cents cum a few quarters of divvy, now waiting to collect lower.)
Dow Jones] STOCK CALL: BNP Paribas starts Cambridge Industrial Trust (J91U.SG) at Buy with S$0.90 target; "we like CREIT for its bondlike characteristics anchored by its defensive business structure, which sets it apart from most other REITs." Notes long tenant leases of 6.5 years, high levels of bank-guaranteed security deposits of 17 months, built-in portfolio rental escalation of 2%/year, 100% occupancy, diversified tenant mix. Forecasts DPU growth of 6%-10% in 2008-2009. Says while REIT has been trading at 20% below industrial peers, opportunistic acquisitions will be key catalyst for DPU growth, as well as prospect of REIT being acquired; "CREIT offers a compelling value proposition for potential takeovers given its fragmented shareholding structure and attractive yield." REIT off 1.4% at S$0.70. |
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BNP take on CIT.... (i took profit last year at 89 cents cum a few quarters of divvy, now waiting to collect lower.)
Dow Jones] STOCK CALL: BNP Paribas starts Cambridge Industrial Trust (J91U.SG) at Buy with S$0.90 target; "we like CREIT for its bondlike characteristics anchored by its defensive business structure, which sets it apart from most other REITs." Notes long tenant leases of 6.5 years, high levels of bank-guaranteed security deposits of 17 months, built-in portfolio rental escalation of 2%/year, 100% occupancy, diversified tenant mix. Forecasts DPU growth of 6%-10% in 2008-2009. Says while REIT has been trading at 20% below industrial peers, opportunistic acquisitions will be key catalyst for DPU growth, as well as prospect of REIT being acquired; "CREIT offers a compelling value proposition for potential takeovers given its fragmented shareholding structure and attractive yield." REIT off 1.4% at S$0.70.
Hi soloman. I got it from Reuters. Unfortunately I can't because it's live, streaming news.
soloman ( Date: 09-Jun-2008 19:36) Posted:
Dear Zhuge Liang
an you attach the link to the BNP report ? |
|
thank u for your encouragement.. i think i may pick up some at 65 cents
Hope it can plunge to 65 cents.
Why listen to analysts? Those follow strictly to analysts advice may be a victim since 2008. Be caution! Market sure will fructuate up and down, as long as within individual limits should be fine.
I am welcome any stock sharings.
Http://www.freewebs.com/henryhts
Dear Zhuge Liang
an you attach the link to the BNP report ?
walao! today, Citi downgrades many Reits. Some say Citi analysts not to be trusted. They say when Citi say sell, retail players should read that as signal to buy instead.
Personally, i think there are some good value Reits out there... especially the one trading at high end of the yield spectrums if the Reits have no large refinancing needs in the next 12 mths.
BNP Paribas has started coverage of Cambridge Industrial Trust with a "buy" rating and a price target of $0.90.
BNP Paribas analyst Jonathan Ng said acquisitions may spur Cambridge's price in the short-term. He added the property trust could receive potential takeover offers, which may boost the stock in the medium term.
Buy trust, mostly for long term investment and yield play. Those like to have quick return should look at S-chip! But high risk as well.
slightly can go up beware, almost peak high liao.
pls do yr research
