Elite Commercial REIT - Strengthening Its Portfolio
- 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 2022-03-01
Read also CGS-CIMB's most recent report:
2022-11-09 Elite Commercial REIT - Model Update.