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OCBC on Hospitality Sector with reference to CDL HTrust
http://sg-shares.blogspot.com/2012/02/hospitality-sector.html
CDL HTrust triggered a " Bearish counterattack" candlestick pattern today. Hit resistence at 2.10 today. RSI showing signs of weakening. caution needed.
http://sgsharemarket.com/home/2011/07/singapore-stock-market-screener-05072011/?=CDLHTrust
CDL Hospitality Trusts (J85.SG) is flat at $1.97, with a low volume of 454,000 units traded, a muted response to news the trust is buying Studio M Hotel for $154 million, though analysts are largely positive on the acquisition.
DBS Vickers notes the property has an initial yield at 6.1% based on historical numbers. “We believe there is more upside this year, given the strong demand for rooms in 2011...we view this acquisition as positive and believe this is the re-rating catalyst that investors have been waiting for.” It keeps its $2.30 target and Buy call.
DMG says “the acquisition would be fully funded by debt. Assuming a debt cost of 3.5%, the acquisition is expected to be highly accretive, adding about 0.41 cents (or 3.5%) to FY11 DPU.”
It raises its FY11-FY12 DPU estimates by 3.4%-3.5%, and target price to $2.46. OCBC notes the proposed Master Lease of at least 20 years will provide a “long term stream of quality income.” It doesn’t have a rating on the units.
/theedge
chiong ah!!!
looking to enter this stock soon, looks good on the technical charts :)
from ST today,...
Mice industry bullish after 20% growth last year
By
Ng Kai Ling
LAST year was a good year for the meetings, incentives, conventions and exhibitions (Mice) industry, as organisers and venues registered strong growth following the 2009 slump brought about by the global economic crisis.
Organisers put together about 20per cent more events last year compared with the previous year.
yes, this a sure win bet. the question mark is only how much.
Phillips recommends BUY with Target Price at $2.38
Tourist arrivals hit another record in Nov’10, registering 960k which is the best record for a
November month. Tourist arrivals from Jan-Nov have already crossed the ten million mark at
10,508,000. Cumulative 3-months total showed an improving trend with each successive
quarter surpassing the previous quarter. Average RevPar also registered the highest value for
the year during the Oct-Nov period. Traditionally, December is another strong tourist month
and we are expecting the Oct-Dec period to be the best quarter of 2010. 2010 is a good year
for the tourism industry. CDL HT benefitted greatly from being in an industry that directly
services the tourism industry. CDL HT has managed to outperform the industry averages in
terms of hotel occupancy and RevPar.
CDL HT has performed strongly in the first 9 months of 2010. Revenue improved 35.5%
compared to the same period a year ago. Revenue of $88.9 million is approximately the same
as FY09 revenue of $91.8 million. Hotel occupancy rate has improved 7 percentage points
over FY09 and RevPar is 26.8% higher. Besides the general improvement in the Singapore
hotel portfolio, there was also additional contribution from the Australia hotels portfolio which
CDL HT acquired in Feb 2010. There might be some concern over the flood in Australia
affecting CDL HT Australia hotels portfolio. Revenue contribution is approximately 13% out of
which approximately 1% is the variable component. We had also checked with management
and understand that operations were not affected.
We believe FY10 will be a record year for CDL HT, topping off with a record 4Q10. We are
forecasting 4Q10 revenue of $33.4 million and DPU of 2.39 cents. Bringing full year FY10
revenue to $122.3 million representing growth of 33.2%, and DPU of 9.82 cents. We think the
tourism industry will continue its momentum in FY11. We maintain our buy recommendation
on CDL HT with target price of $2.38 which represents 1.6x book value, in line with mid cycle
valuation.
Life Is Great
CDL Hospitality Trust featured among Asian Small Cap Stock Picks by Credit Suisse
Potential Upside of over 24%
With projected profit growth of 17% YoY, Asian small caps are
now at 11.4x 2011E P/E, or 10-year P/E average. They are not
particularly undervalued on their 11% valuation discount to the
large caps, after the outperformance in the past two years.
● In view of the valuation discounts to the large caps and P/E to
growth ratios, Hong Kong, Taiwan and China are the most
attractive markets for small caps. With the lowest valuation in the
region of 9.6x 2011E P/E and share price underperformance after
the financial crisis, Korea small caps are interesting laggard plays.
● The small cap outperformance patterns in different Asian markets
may be different in the course of a bull market. We attach
importance to valuations and unique stories when we pick the
Davids with potential to beat Goliath.
● We have picked 20 value small caps (CDL Hospitality Trust and Wing Tai from Singapore) in the region with an average
12-month potential upside of 39% and market cap of US$1.4 bn.
At an average 2011 P/E of 9.3x, they are 32% less expensive
than the MSCI Asia ex. Japan. 12 of the picks are from Greater
China and Korea, with the most attractive valuations in the region.
Make love more, don't make more enemies
Yes on the uptrend and in the top gainer list today. Hotels should be doing well.
Trending up?
oceanblue ( Date: 19-Aug-2010 12:00) Posted:
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More good news for Hotel industry in the new few months. See the report on TODAY newspaper:
http://www.todayonline.com/Business/EDC100819-0000104/Hotels-face-room-shortage
YOG this month and F1 next month should be good for hotels industry.
Testing $2.00?
28-07-2010 08:24:03
Singapore Hot Stocks-CDL Hospitality, SGX in focus
CDL Hospitality Trusts said its net profit for the second quarter rose 43 percent to S$20.6 million ($15.12 million) from S$14.4 million a year ago. It had a distribution per unit of 2.57 Singapore cents for April-June, 36 percent higher than the same period a year earlier.
Today CDL has another massive sell down due to shares placement and closed lower at $1.75 with huge volume of 8.08 million shares traded. (6 times average volume)
Black candle stick with long upper shadow similar to “inverted hammer” shows that traders are coming in for bargain hunting.
RSI & MACD are bearish as both indicators turned sharply downwards.
Important Resistance of CDL: $1.80
Immediate Support of CDL: $1.75
We would never encourage investors to buy stocks when the counter is trading at high volume (High volume = Volatile)
If really interested in the fundamental of CDL, buying at $1.75 technical/ 20days MA support on Monday (Ensure normal trading volume) may be a wise choice since 2 “reversal” candle stick already occurred. But cut loss immediately if important neckline at $1.66 is breached.
SEE ANALYSIS FOR INNOTEK
However it is important to note that CDL dividend record date is at 30 Jun 2010 and this could be one of the possible reasons that the prices can still hold. Thus CDL may dip further upon reach ex-dividend.