Far East Hospitality Trust - DBS Research 2022-08-05: On Track To Hit Pre-Pandemic DPUs Next Year

Far East Hospitality Trust (FEHT)'s 1H22 Results

• Far East Hospitality Trust (SGX:Q5T) reported a gross revenue of S$41mil for 1H22 (-1.4% y-o-y).
• NPI rose 3.5% y-o-y to S$37.5mil despite disposal of Central Square.
• - Read this at SGinvestors.io -
• DPU surged 40% y-o-y to S$0.0154, exceeding our half yearly estimates of S$0.0147 (full year forecast at S$0.0293).
• Far East Hospitality Trust will be sharing divestment gains from Central Square divestment – of approximately S$8mil per year for 3 years (FY22-25).
• Capital gains top up this year has been quantified to be S$6.2mil this year, or approximately 9 months pro-rated for this year to cover 9 months income lost from central square, ~S$0.0031 per share. This translates to an additional ~S$0.0040 per share per annum in capital gains distribution, which poses as an upside to our current estimates.
• - Read this at SGinvestors.io -

Potential for variable hotel rents in 2H22

• Read more at SGinvestors.io.

Above is an excerpt from a report by DBS Group Research.
Clients of DBS may access the full PDF report @ https://www.dbs.com/insightsdirect/.

Read also DBS's most recent report:
2025-02-13 Far East Hospitality Trust - Acquisitions The Way Forward.

Previous report by DBS:
2023-02-15 Far East Hospitality Trust - Full DPU Recovery To Drive Share Price Higher.

Price targets by other brokers at Far East Hospitality Trust Target Prices.

Listing of research reports at Far East Hospitality Trust Analyst Reports.

Relevant links:
Far East Hospitality Trust Share Price History,
Far East Hospitality Trust Announcements,
Far East Hospitality Trust Dividend Payout Dates & Corporate Actions,
Far East Hospitality Trust News