APAC Realty - Supported By High Dividend Yield
- APAC Realty (SGX:CLN)'s 2H net profit surged 111.3% y-o-y to S$18.3m. FY21 net profit rose 115.3% to S$35.4m. Final dividend of S$0.04 brings APAC Realty's FY21 ordinary dividend to S$0.075.
- 2H/FY21 earnings per share (EPS) of S$0.0516/S$0.0996 in line, at 51.1%/98.5% of our FY21 forecast
- Slower market activity likely in the near term due to cooling measures.
- We cut our FY22-23F earnings per share forecast for APAC Realty by 15.1-17.1% to reflect the slower property transaction environment in FY22-23F. Accordingly, our target price for APAC Realty dips to S$0.93. Reiterate ADD.
- APAC Realty's share price's share price likely to be supported by high dividend yield.
Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.
LOCK Mun Yee CGS-CIMB Research | https://www.cgs-cimb.com 2022-02-23 2022-02-23
Read also CGS-CIMB's most recent report:
2022-06-17 APAC Realty - Supported By Attractive Valuations & Yield
Check out the most recent target prices at APAC Realty Target Prices. Listing of analyst research reports at APAC Realty Analyst Report.
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