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

Far East Hospitality Trust - On Track To Hit Pre-Pandemic DPUs Next Year

Published:
FAR EAST HOSPITALITY TRUST (SGX:Q5T) | SGinvestors.ioFAR EAST HOSPITALITY TRUST (SGX:Q5T)

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




Geraldine WONG DBS Group Research | Derek TAN DBS Research | https://www.dbs.com/insightsdirect/ 2022-08-05



Read also DBS's most recent report:
2023-02-15 Far East Hospitality Trust - Full DPU Recovery To Drive Share Price Higher.

Previous report by DBS:
2022-10-28 Far East Hospitality Trust - Variable Hotel Rents Re-emerge!.

Price targets by 2 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 Dividends & Corporate Actions,
Far East Hospitality Trust News Articles





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