Gut feeling is some parties are messing around for sure. The company fundamentals doesnt warrant such a price. Rather go long than short at this price. Once their game is up, the price should recover.
i get it that US treasury yields (3% est) are coming up, but this market price reeks overkill. At $1.10 , gross yield is about 7.45% (8.2 cents dividend) With all the talks/statistics about property over supply for this 2 years or so, mall prices and rentals have more or less maintained. Prices move fast in todays market. As swift as this came down , the recovery will be fast too
Posted by ks55 > Dec 22, 2014 09:11 AM | Report Abuse
Yes, I like retail REITs. But to invest in CMMT must have second thought. Just go to Sungai Wang, what do you see? Go to IOI City Mall in Putrajaya. What can you conclude? Hektar is most resilient and consistently pay out at least 10.4sen DPU. This work out to have DY 7.2% based on 1.45 share price.
As for office REITs, try to avoid QCT as PS acquisation is not at arms length. If waiver for PAC not granted, or PS acquisation aborted, then QCT is a good buy. Try to avoid any other office REITs because it will be getting harder and harder to find tenant.
Industrial REITs, best buy is still Atrium. No doubt Atrium Puchung is vacant right now, with able property manager, it will not be difficult to find tenant. Moreover, DPU for Jan 2015 will remain at 2.2sen (net profit from disposal of Rawang factory). This give DY 7.7% based on 1.17 share price.
For multi-dimension REITs, best choice is ARReit. Silverbird factory fiasco should be over in Jan 2015 with court proceeding (unless High5 play dirty trick again). Wisma Amanahraya in Jalan Semantan (Now rename Wisma ELM) is now lease to SEGI College University. In no time DPU will go back to 8 sen per unit.
Caution! Be caution!! Be most caution !!!! Don't trust MRCB will inject properties for new lease of life to QCT at arms length. Properties injected will be very much inflated. I don't trust QCM as someone has vested interest in these type of transactions.
Posted by ks55 > Dec 22, 2014 10:45 PM | Report Abuse X
Rental for Sg Wang will improve only after MRT is ready in 2017. Traffic too bad right now.
IOI City Mall in Putrajaya practically entice most residents from Putrajaya, Cyberjaya, Kajang, Sri Kembangan, Puchong South and nearby area. It is simply too good to resist. Why go to the Mines with ah pek appearance when you have a brand new first class mall nearby. Newly open less than a month and already near to 80% occupancy. Just pay a visit to appreciate it yourself.
TP of RM 1.00 for a stock that has a NAV RM 1.27 per unit, a P/NAV (based upon a sprive of RM 1.17) at RM 0.92 per unit and has historically paid a dividend of around RM 0.085 per annum??
How the hell do you establish a TP of RM 1.00 (or are you just talking from ass)?
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
JT James
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Posted by JT James > 2017-05-30 02:15 | Report Abuse
Win88, do you know why Queensbay Penang is not listed in the report? I thought Queensbay is under CMMT too?
http://capitamallsmalaysia.listedcompany.com/misc/CMMT%20FactSheet%20-%201Q2017.pdf