CMT Updated Target Price following Q1 2011 result release

CMT Updated Target Price following Q1 2011 result release:

Brokerage	Recommendation	Target Price (S$)	Date
DMG	NEUTRAL	2.000	21/04/11
CIMB	NEUTRAL	2.000	21/04/11
OCBC	BUY	2.020	21/04/11

 

Latest updates at Stock Target Price.

Related Posts

• CMT Q1 2011 Quarterly Earnings Report

CMT Q1 2011 Quarterly Earnings Report

CMT Q1 2011 Quarterly Earnings Report:

• Press Release
• Financial Statements
• Presentation Slides

Key Points

• DPU of 2.29 cents for the reporting quarter.
• This translates to an annualised distribution yield of 4.99% based on CMT’s closing price of S$1.86 per unit on 20 April 2011.
• Unitholders can expect to receive their 1Q 2011 DPU on 30 May 2011. The Books Closure Date is on 3 May 2011.
• CMT raised S$300.0 million by issuing two-year retail bonds in February 2011. With this issuance, CMT’s average cost of debt and gearing ratio were 3.7% and 38.2% respectively as at 31 March 2011.
• NAV per unit of S$1.55 as at 31 March 2011.

Author's Note
The quarterly DPU of 1.55 cents will be paid on 30 May 2011. Book closure is on 3 May 2011.

Note that the above estimated Distribution is computed on the basis that none of the Convertible Bonds are converted into Units before the Books Closure Date. Accordingly, the actual quantum of the Distribution may differ from the above estimated Distribution if any of the Convertible Bonds are converted into Units before the Books Closure Date. The actual quantum of the Distribution will be announced by 12 May 2011, after the closure of the Transfer Books and Register of Unitholders.

The DPU was 2.361 cents in the previous quarter.

Related Posts

• Results Release 
• DPU Information Page   
• CMT Q3 2010 Quarterly Earnings Report
• CMT Q4 2010 Quarterly Earnings Report

CMT, Ascott Reit, MIT - Date of Result Release for Q1 2011

Updated date of Result Release for Q1 2011:

CapitaMall Trust APR 20

Ascott Reit APR 20
MapletreeInd APR 26

Latest Update at Results Release.

CAPITAMALL TRUST TO ACQUIRE ILUMA FOR S$295 MILLION

CAPITAMALL TRUST TO ACQUIRE ILUMA FOR S$295 MILLION:

• Press Release
• Announcement
• Presentation Slides

Key Points

• CMT has entered into a sale and purchase agreement to acquire Iluma for S$295 million from Jack Investment Pte Ltd.
• Iluma is a new shopping mall in Singapore located at Victoria Street opposite the popular Bugis Junction, one of CMT’s existing properties. The mall has a net lettable area (“NLA”) of 185,190 square feet (“sq ft”) and is connected by an overhead link-bridge to the second storey of Bugis Junction.
• The Manager intends to wholly finance the Acquisition through internal sources of funds.
• Following the Acquisition, CMT’s aggregate leverage will remain unchanged at 38.2%

Related Posts

• CMT Q4 2010 Quarterly Earnings Report 
• REIT Financial News - 9 FEB 2010: CMT to acquire Clarke Quay from CapitaMalls Asia for S$268 million

CMT - Updated Target Price following retail bond issue

CMT - Updated Target Price following retail bond issue:

REIT	Brokerage	Recommendation	Target Price (S$)	Date
CMT	OCBC	BUY	1.98	22/02/11

Latest updates at Stock Target Price.

CMT announces actual quantum of DPU for Q4 2010

CMT announces actual quantum of DPU for Q4 2010:

• Press Release

Key Points

• The actual quantum of distribution per unit in CMT (“Unit”) for the period from 1 October 2010 to 31 December 2010 remains unchanged from the estimated distributable taxable income of 2.36 cents per Unit.

Related Posts

• CMT Q4 2010 Quarterly Earnings Report

CMT Q4 2010 Quarterly Earnings Report

CMT Q4 2010 Quarterly Earnings Report:

• Press Release
• Financial Statements
• Presentation Slides
• Annexes

Key Points

• Fourth Quarter 2010 DPU of 2.361 cents.
• Unitholders can expect to receive their 4Q 2010 distribution of 2.361 cents per unit on 28 February 2011.
• This translates to an annualised distribution yield of 4.93% based on CMT’s closing price of S$1.90 per unit on 19 January 2011. 
• The Books Closure Date is on 28 January 2011.
• Gross revenue for 4Q 2010 increased by 8.0% to S$151.3 million, compared to that for Fourth Quarter 2009 (“4Q 2009”).
• For 4Q 2010, NPI grew by 5.7% year-on-year. 
• Renewal rental rates for CMT’s portfolio increased by 6.5% over preceding rental rates, compared to the 2.3% growth attained in 2009. 
• CMT continued to enjoy strong portfolio occupancy of 99.3% as at 31 December 2010, maintaining its consistently strong occupancy track record since listing in 2002.
• Repurchased S$100.0 million of convertible bonds in October 2010, reducing CMT’s outstanding amount of convertible bonds to S$550.0 million.
• CMT’s debt profile remains healthy with gearing of 35.9% and average borrowing costs of 3.7% as at 31 December 2010. 
• Interest cover of 3.6 times is also in the healthy range.

Author's Note
The quarterly DPU of 2.361 cents will be paid on 28 Feb 2011. Book closure is on 28 Jan 2011.

Note that the above estimated Distribution is computed on the basis that none of the Convertible Bonds are converted into Units before the Books Closure Date. Accordingly, the actual quantum of the Distribution may differ from the above estimated Distribution if any of the Convertible Bonds are converted into Units before the Books Closure Date. The actual quantum of the Distribution will be announced by 9 February 2011, after the closure of the Transfer Books and Register of Unitholders.

The DPU was 2.36 cents in the previous quarter.

Related Posts

• Results Release 
• DPU Information Page   
• CMT Q3 2010 Quarterly Earnings Report

CMT - Date of Result Release for Q4 2010

Updated date of Result Release for Q4 2010:

CMT   JAN 20 (AM) 

Latest Update at Results Release.

Updated Target Price by DBS

Updated Target Price by DBS:

REIT	Brokerage	Recommendation	Target Price (S$)	Date
CacheLog	DBS Vickers	BUY	1.74	17/12/10
FrasersCT	DBS	BUY	1.11	17/12/10
MapleTreeLog	DBS Vickers	BUY	1.01	17/12/10
CDL H-Trust	DBS Vickers	BUY	2.28	17/12/10
CapitaMall	DBS Vickers	BUY	2.09	17/12/10
PLife	DBS Vickers	BUY	1.84	17/12/10
AscottReit	DBS Vickers	BUY	1.38	17/12/10

Latest updates at Stock Target Price.

Updated Target Price by OCBC for various Reits

Updated Target Price by OCBC:

REIT	Recommendation	Target Price (S$)	Date
AscendasReit	HOLD	2.210	10/12/10
AscottReit	BUY	1.380	10/12/10
CapitaComm	HOLD	1.520	10/12/10
CapitaMall	HOLD	2.050	10/12/10
FrasersComm	BUY	0.180	10/12/10
FrasersCT	HOLD	1.500	10/12/10
LippoMapleTrust	BUY	0.590	10/12/10
MapleTreeLog	BUY	1.000	10/12/10
Starhill Gbl	BUY	0.660	10/12/10
Suntec	HOLD	1.500	10/12/10

 
Latest updates at Stock Target Price.

CMT actual quantum of DPU for the period from 1 July 2010 to 30 Sep 2010 - 3 NOV 2010

CMT actual quantum of DPU for the period from 1 July 2010 to 30 Sep 2010. See press release.

Key Points
Further to the announcement on 22 October 2010, the actual quantum of distribution per unit in CMT (“Unit”) for the period from 1 July 2010 to 30 September 2010 remains unchanged from the estimated distributable taxable income of 2.36 cents per Unit.

Related Posts

CMT Q3 2010 Quarterly Earnings Report

CMT - Updated Target Price following Q3 2010 result release

Updated Target Price for CMT following Q3 2010 result release:

DMG	NEUTRAL	S$2.05	21/10/10
DBS Vickers	BUY	S$2.09	25/10/10
OCBC	HOLD	S$2.05	25/10/10
Kim Eng	BUY	S$2.27	25/10/10
CIMB	UNDERPERFORM	S$1.98	25/10/10

Latest updates at Stock Target Price.

Related Posts
CMT Q3 2010 Quarterly Earnings Report

CMT Q3 2010 Quarterly Earnings Report

Q3 2010 results for CMT:

• Press Release
• Financial Statements
• Presentation Slides

Key Points

• DPU for the reporting quarter is 2.36 cents. 
• Gross revenue grew 6.3% year-on-year to S$148.2 million in 3Q 2010 while net property income was higher by 7.1% over that of 3Q 2009. 
• CMT continued to register strong portfolio occupancy of 99.6% as at 30 September 2010. 
• With the issuances of the four-year and seven-year medium term notes, CMT’s average cost of debt was 3.7% and gearing ratio was 37.2% as at 30 September 2010. 
• Interest cover remained strong at approximately 3.7 times.
• Book closure is at 5.00 pm on 1 Nov 2010 for the purpose of determining unitholders’ entitlements to distribution.
• The distribution that will be paid on 29 Nov 2010. 

Author's Note
The DPU of 2.36 cents will be paid on 29 Nov 2010. Books closure is on 1 Nov 2010. Note that the DPU is computed on the basis that none of the outstanding S$550.0 million in principal amount of the S$650.0 million convertible bonds due in 2013 are converted into Units before the books closure date (BCD). The actual quantum of DPU may differ if any of the outstanding CBs are converted into Units before the BCD.

DPU was 2.29 cents in the previous quarter.

Date of Result Release for Q3 2010 for CMT

Updated date of Result Release for Q3 2010:
CMT   Oct 22 (AM)


Latest Update at Results Release.

Updated Target Price for Ascott Reit, CapitaMall Trust, FrasersCT, LippoMapleTrust, MapletreeLog, Starhill Global, SUNTEC Reit by OCBC

Updated Target Price by OCBC:

AscottReit	BUY	S$1.33	30/09/10
CapitaMall	HOLD	S$2.01	30/09/10
FrasersCT	HOLD	S$1.49	30/09/10
LippoMapleTrust	BUY	S$0.52	30/09/10
MapleTreeLog	BUY	S$0.90	30/09/10
Starhill Gbl	BUY	S$0.65	30/09/10
Suntec	HOLD	S$1.44	30/09/10

Latest updates at Stock Target Price.

Updated Target Price for CMT

Updated Target Price for CMT:

OCBC

BUY

S$2.01

24/09/10

 
Latest updates at Stock Target Price.

Stock Target Price - Updated Target Price for CMT following its 2Q 2010

Updated Target Price for CMT following its 2Q 2010 Earnings Results:

DBS Vickers	BUY	S$2.09	22/07/10
DMG	NEUTRAL	S$1.90	22/07/10
CIMB	NEUTRAL	S$1.93	23/07/10
Kim Eng	BUY	S$2.23	23/07/10

Latest updates at Stock Target Price.

REIT Financial News - Q2 2010 Quarterly Earnings Report for CMT

Second quarter 2010 results for CMT:

• Press Release
• Financial Statements
• Presentation Slides

Key Points

• The DPU for the quarter (2Q 2010) is 2.29 cents.  
• The Books Closure Date is on 30 July 2010.
• Unitholders can expect to receive their 2Q 2010 DPU on 27 August 2010.
• Completed acquisition of Clarke Quay on 1 July 2010.
• Portfolio occupancy continued to be strong at 99.5% as at 30 June 2010.
• Average cost of debt and gearing ratio were 3.7% and 34.8% respectively as at 30 June 2010. Interest cover stood at approximately 3.3 times. 

Author's Note
The quarterly DPU for 2Q 2010 of  2.29 cents will be paid on 27 Aug 2010.
The DPU was 2.231 cents for the previous quarter.

Note that the DPU of 2.29 cents is computed on the basis that none of the Convertible Bonds is converted into Units on or prior to the Books Closure Date. The actual amount may differ if any of the Convertible Bonds is converted into Units on or prior to the Books Closure Date.

Stock Target Price - Updated Target Price for Ascendas Reit, Ascott Reit, Capitacomm, CapitaMall Trust, FrasersCT, LippoMapleTrust, MapletreeLog, Starhill Global, SUNTEC Reit by OCBC

Updated Target Price and Recommendation by OCBC:

Ascendas Reit HOLD S$1.85
Ascott Reit BUY S$1.32
Capitacomm HOLD S$1.26
CapitaMall Trust BUY S$1.95
FrasersCT BUY S$1.50
LippoMapleTrust BUY S$0.55
MapletreeLog BUY S$0.84
Starhill Global BUY S$0.65
SUNTEC Reit BUY S$1.44

Latest updates at Stock Target Price.

REIT Financial News - Date of Result Release for Q2 2010 for CMT

Updated date of Result Release for Q2 2010:
CMT   Jul 22 (AM)


Latest Update at Results Release.