Elite Commercial REIT - CGS-CIMB Research 2022-03-01: Strengthening Its Portfolio

Elite Commercial REIT - Strengthening Its Portfolio

ELITE COMMERCIAL REIT (SGX:MXNU)

Elite Commercial REIT's announced it has entered into separate agreements with The Secretary of State for Levelling Up, Housing and Communities of the United Kingdom, to re-gear certain leases of its properties occupied by the Department for Work and Pensions (DWP).
These will likely strengthen the income visibility and sustainability metrics of its portfolio in the medium term.
We keep our FY22-24F estimates and DDM-based target price of £0.76 pending more details on the agreements. At current price, Elite Commercial REIT (SGX:MXNU) offers an attractive FY22F dividend yield of ~7.7%.

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 2022-03-01

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

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