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KLSE: KIPREIT       KIP REAL ESTATE INVESTMENT TRUST
Last Price Avg Target Price   Upside/Downside Price Call
0.805 0.93     +0.125 (15.53%)
* Average Target Price, Price Call and Upside/Downside are derived from Price Targets in the past 6 months.
** Price Targets are adjusted for Bonus Issue, Shares Split & Shares Consolidation (where applicable).
Date Open Price Target Price Upside/Downside Price Call Source News
06/12/2018 0.805 0.95 +0.145 (18.01%) TRADING BUY KENANGA Price Target News
24/09/2018 0.83 0.91 +0.08 (9.64%) BUY Rakuten Price Target News


Price Target Research Article/News (past 6 months)
06/12/2018  KENANGA KIP REIT - Great Yields On Stable Assets
24/09/2018  Rakuten KIP REIT - Attractive dividend yield



  Patrick13 likes this.
 
malinfan Under value? .... can buy more. LoL'...
10/07/2018 14:59
malinfan most of those AGM attendees comes with packaging for food "tabau"...hehehe.
24/07/2018 09:53
MasterCard Any good news?
24/07/2018 12:28
malinfan stingy boss, what do u expect?
24/07/2018 16:19
monorail Q4 should register higher profit due to ramadhan + hari raya festival as stated in the financial result notes last year
25/07/2018 14:04
shortinvestor77 Sure!
25/07/2018 22:41
malinfan paying 10+ sen more for just 1 or 2 sen dividend ... ?
27/07/2018 08:50
Lim Tek Wai Good stock, nice to buy
27/07/2018 10:17
Yael Jasper Never regret to buy this
27/07/2018 10:53
CFTrader malinfan is now salivating because of missing the boat as he/she/it sold at a lower price and now the price had gained to 86.5c.

He/She/It is still waiting for 55c KIPREIT which in my humble opinion , with a probability of 99% he wont get the stock at that price.

Sincerely
CFTrader
01/08/2018 20:22
yuanlong57 Consumer sentiment index at 21-year high https://www.thestar.com.my/business/business-news/2018/08/02/consumer-sentiment-index-at-21year-high/#hSTWUQJQhFIqvJ5s.41
02/08/2018 09:41
malinfan don't worry, no hurry. after x date it fall like shit.... with 1%, i can wait.
02/08/2018 11:56
shortinvestor77 Then it goes up like rocket. Don't wait!
02/08/2018 16:53
yuanlong57 KIP REIT aims high and big - Business News | The Star Online https://www.thestar.com.my/business/business-news/2018/08/04/kip-reit-aims-high-and-big/#GKgrAqxpOH1jGpSE.41
08/08/2018 05:20
nkk53 Div yield so far has been reasonable.Why are these institutions continue disposing??????
11/08/2018 10:19
CFTrader generally, most of the REITS climbed to a level where i deemed it is a bit on the high side ....

Sincerely
CFTrader
23/08/2018 09:13
CFTrader 9share published an article of KIPREIT.

KIPREIT planned to acquire AEON MALL KINTA Shopping Mall for 280 milllion Ringgit Malaysia.
Previous owner had performed AEI (Asset Enhanced Initiative) for 32 million Ringgit Malaysia.

(Valuation CH Williams Talhar & Wong Sdn Bhd valued the 21-year old structure at a price of 220 million Ringgit Malaysia)

The rental agreement last for 10 years which start from 2015 to 2025, with the yearly rental rate of 16.31 million Ringgit Malaysia.

Sincerely
CFTrader
29/08/2018 13:13
Jackiee kip use 208m to buy not 280m
29/08/2018 13:31
shortinvestor77 Right but the market price is 230 million. This seen is a good business on top of rental rate.
30/08/2018 11:20
cong5895 More asset more dividend.
30/08/2018 11:25
Lim Tek Wai Never regret for buying this stock, profit is real
30/08/2018 11:28
CFTrader sorry, the earliest news 9share informed me that the price is 280m.
It is actually 208m with 7.8% gross rental yield.
Should be additive effect.

Sincerely
CFTrader
30/08/2018 11:44
sg999 why keep dropping??????????
14/09/2018 19:00
XOX_ Who buy who die haha.
16/09/2018 09:49
XOX_ Buy Aeon Mall is suicidal with oversupply malls. RI coming?
16/09/2018 09:51
nuke How is KIP (we) paying for this mall?
16/09/2018 16:19
Yael Jasper Never regret for buying this stock, profit is real
18/09/2018 11:12
nuke KIP down sharply. GE still disposing?
20/09/2018 16:04
shortinvestor77 https://klse.i3investor.com/servlets/ptres/47360.jsp
26/09/2018 21:58
naruko anyone attend agm that can share some happenings?
27/09/2018 15:59
RonanOng Ready to be goreng by Kenanga/Rakuten :)
02/10/2018 01:23
LearningToInvest anybody looked at note 10 of their 2018 audited accounts? They have RM87mil in borrowings which will be repaid in 1 bullet payment 5 years from date of 1st drawdown. I cant find any disclosure on when it was drawndown. It is sitting there in their books for 2017 and 2018. So I can only assumethat they would need to pay it back between now and 2021. They have ~20mil in cash, makes about 40m FCF every year and i do not see any disclosure of how much cash is cordon of to pay for the RM87m. Anybody has any information on how they plan to pay back this RM87mil? Thanks.
10/10/2018 16:41
LearningToInvest simply put sometime between now and 2021... they will have to:
1. do an equity fund raising
2. refinance
3. reduce distributions
option 1: dilution means reducing the yields assuming all else equals
option 2: refinancing to defer the bullet payment is probably their best choice.... if via a normal term loan... it means yields goes down. if via the same terms then it would probably be the same yield as now.
option 3: Right now there is about 3 years left to pay the 87m bullet payment, roughly about 29m a year. Their distribution in 2018 ~37m... so they will have to cut distributions per year to about 8m.

That means the 8%+ yield that we are seeing is not sustainable.... my 2 cents.
Feel free to comment.... i am here to learn.
11/10/2018 17:23
shortinvestor77 BoD is trying their very best to generate increasing profit. Any deal that cannot give a recent yield will not be purchased. The existing business they have been improving and increasing its profit while reducing cost be installing solar panels onto the assets. Reits always carry suitable debts with a max gearing ratio of 0.5.
12/10/2018 08:34
Gen2 @LearningToInvest, they have 300m cash ( published in sinchew : http://www.sinchew.com.my/node/1797937 )
12/10/2018 10:05
LearningToInvest Gen2: thanks for the link.
12/10/2018 12:04
Gen2 Weird thing is, their BS don’t have the 300m cash ??!!
12/10/2018 12:31
kinuxian That's the model of most REIT player by leveraging where SC limit the gearing ratio below 50% as hard cap. Most of them will tap into gearing where confident their purchase is making higher return then loan interest. They'll issuing new commercial paper when time due.

I guess many reporter failed their math. :) Their current asset is about 30MM instead of 300MM in their final report.
12/10/2018 17:57
Gen2 @kinuxian
The news even stating after the cash call existing 300m cash will be increased to 400m.
May be who attended their AGM can enlighten us further ?
12/10/2018 21:59
LearningToInvest their cash call is only ~100m shares... assuming they can place out at 0.80... only get 80m cash. Their Aeon purchase... from circular looks to be 100% funded by debt... but assuming 80% financing at 5% interest rate for 20 years..maybe NPI additional RM4m a year. if they manage to place out the 100m shares (which they will have to) their yield will no longer be 8%... proforma ~5% only. If only going to get 5% yield IGB or PAV reit safer
15/10/2018 14:14
shortinvestor77 They know what to do for the benefit of shareholders..
15/10/2018 21:57
CFTrader (1) According to what i had read in the AR2018 , they DO NOT have 300m cash .

Cash and Bank Balance = 8.9M
Deposit with License Bank = 10.9M

Generally speaking it's 20M for cash, and 28M for short term asset.


(2) REITS usually will refinance their debt with the asset as backing. As long REITS can generate income more than
(i) the existing rate - eg. if average rate is 7.0% , and the latest acquisition give 7.5%, that is addictive effect AND (ii) higher rate compared to the cost of fund - which is the loan.

They will be off good with the dividend declaration.

(3) They cannot simply cut the dividend yield, it is MANDATORY for REITS to declare a minimum of 90% NPI to enjoy the taxation benefit. REITS are differerent compared to normal share.


Sincerely
CFTrader
16/10/2018 00:16
CFTrader I lazy to recalculate, but base on last AR2018 , they still have 218.977 M loan amount to reach the ceiling level of 50% gearing ratio.

The acquisition of the "mall" is 208M, which they have maximize the loan amount already.

Sincerely
CFTrader
16/10/2018 00:19
shortinvestor77 https://klse.i3investor.com/blogs/nomoneylahreitinvesting/178957.jsp
20/10/2018 15:31
shortinvestor77 No more kacau from Great Estern and OCBC.
https://klse.i3investor.com/insider/substantialShareholderNoticeOfCeasing/5280/23-Oct-2018/11939_618477176.jsp
23/10/2018 14:15
shortinvestor77 http://www.klsescreener.com/v2/news/view/455910
13/11/2018 08:41
naruko halt again for this kinta acquisition, what the...
30/11/2018 14:47
naruko 2billion asset, what a high target, but I like it
06/12/2018 08:49
Bursa999 Kenanga trading buy call with TP0.95 with stable dividend yield of around 8.4% range at least until FY2020 due to asset expansion and successful tenancy renewal
06/12/2018 23:03
Bursa999 2bil asset target by 2020 with AEON Kinta City done purchased next should be Kip Mall Kota Warisan
08/12/2018 00:56


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