Elite Commercial REIT - CGS-CIMB Research 2022-02-21: Resilient Portfolio

Elite Commercial REIT - Resilient Portfolio

ELITE COMMERCIAL REIT (SGX:MXNU) | SGinvestors.ioELITE COMMERCIAL REIT (SGX:MXNU)
  • Elite Commercial REIT (SGX:MXNU) posted 2H21 revenue/net property income of £18.8m/£18.3m (+65.7%/+64.9% y-o-y). 2H/FY21 DPU of 2.80/5.43 pence, is within expectations, at 51.4%/99.7% of our FY21F forecast.
  • Elite Commercial REIT is enjoying 100% portfolio occupancy, with active tenant engagement for FY23F leases with break options.
  • We cut our FY22-23F DPU estimates for Elite Commercial REIT by 1.6-2% post results. Accordingly, our DDM-based target price for Elite Commercial REIT is lowered to £0.76.
  • Nonetheless, Elite Commercial REIT still offers an attractive FY22F dividend yield of ~7.6%.




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 | EING Kar Mei CFA CGS-CIMB Research | https://www.cgs-cimb.com 2022-02-21



Read also CGS-CIMB's most recent report:
2022-11-09 Elite Commercial REIT - Model Update.

Previous report by CGS-CIMB:
2022-03-01 Elite Commercial REIT - Strengthening Its Portfolio.

Price targets by other brokers at Elite Commercial REIT Target Prices.
Listing of research reports at Elite Commercial REIT Analyst Reports.

Relevant links:
Elite Commercial REIT Share Price History,
Elite Commercial REIT Announcements,
Elite Commercial REIT Dividends & Corporate Actions,
Elite Commercial REIT News Articles















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