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counter party shows: Credit Suisse buying up on the big trade.
The chart showing uptrend and it has broken the $1 resistance. I went it at $1.01 believing more upside from this counter.
Good luck.
Other than the technicals which looks good, investors may want to consider the following fundamentals.
Current dividend yield is 5.5 %, based on the latest qrtrly div, annualised, compared with most of the other reits (office and retail, excluding industrial) that are trading at 3 % - 4.5 %.
I think that at least 50 % of its office space will be up for renewal in 2007/2008, and the rental will probably go up by 20-30 % (not sure of exact figures), although, the office space revenue is probably much less than its retail space. (maybe 30 % ? - have to check on that)
It is situated in Orchard road, and when the Orchard Turn project is completed, the whole place will be vibrant. When Macau had its casino, its tourist arrival increased annually, compounded by 13 % between 2000 - 2006 (citgrp report), and it has tourists of 20 million currently, compared with 9 million for Spore.
Imagine, when our 2 IRs are completed !
It has low gearing, approx 26 % (I think), and it can easily buy upto 500 million worth of property, without share placement. (read somewhere, in an analyst report).
It has continually said that it is looking at acquisition at Spore, China, Australia. It is a matter of time. When that happens, it will act as a catalyst for the share price to go higher.
Having said that, it must be borne in mind, thart most Reits are in the 'sweet spot' right now, where interest rates are deemed to have peaked, and maybe going down, while there is an on-going asset reflation story in Spore right now, with ever increasing rentals.
The Edge (Dec 4 issue) reported "Prime is poised for an upside break. Its quarterly momentum rising, ADX has turned up from a relatively low level & DIs positive. It said a successful break above $1 would indicate a target of $1.20."
With volume, it has potential to cheong. Why wait guys .. ..
zujzuj is right. Its on a strong uptrend now.
However, the volumes are slightly inconsistent.
However, the volumes are slightly inconsistent.
52 weeks high today....
From the charts, it's on a uptrend... more potential to cheong
i see... agreed... i have more spare cash i will buy some more now, given that the NTA is about $0.96 per share.... and not bad dividend payout.
deep pocket means have a lot of money.. can buy and buy ...
HI, i am new here.
What do u mean by "deep pocked"?
I have vested some in this counter.
anything u want to share?
keep on buying properies.. got deep pocket ?