Bursa Malaysia Stock Watch
SUNREIT - OSK Research Neutral on Sunway REIT, TP 98c
kltrader
Publish date: Fri, 19 Nov 2010, 10:35 AM
kltrader
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Stock Name: SUNREIT
Company Name: SUNWAY REAL ESTATE INVT TRUST
Research House: OSK
KUALA LUMPUR: OSK Research has initiated coverage of Sunway Real Estate Investment Trust (Sunway REIT), which is the largest Malaysian REIT (M-REIT) with an asset size of RM3.7bn and a free float of about RM1.6bn.
It said on Friday, Nov 19 that it has accorded a Neutral call on Sunway REIT at 98 sen based on 1.0 times P/NAV with a Neutral call.
OSK Research said Sunway REIT provided investors with exposure to the retail, hospitality and office sub-sectors, Sunway REIT is a defensive REIT that offers unit holders a longer-term growth catalyst.
'Given its low dividend yield of 6.7% (vs the sector's 8.0%) and the fact that it will be trading at 1.0x P/NAV, Sunway REIT may likely to appeal to only certain classes of investors, especially those with a defensive investment strategy,' it said.
Company Name: SUNWAY REAL ESTATE INVT TRUST
Research House: OSK
KUALA LUMPUR: OSK Research has initiated coverage of Sunway Real Estate Investment Trust (Sunway REIT), which is the largest Malaysian REIT (M-REIT) with an asset size of RM3.7bn and a free float of about RM1.6bn.
It said on Friday, Nov 19 that it has accorded a Neutral call on Sunway REIT at 98 sen based on 1.0 times P/NAV with a Neutral call.
OSK Research said Sunway REIT provided investors with exposure to the retail, hospitality and office sub-sectors, Sunway REIT is a defensive REIT that offers unit holders a longer-term growth catalyst.
'Given its low dividend yield of 6.7% (vs the sector's 8.0%) and the fact that it will be trading at 1.0x P/NAV, Sunway REIT may likely to appeal to only certain classes of investors, especially those with a defensive investment strategy,' it said.
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