- Cromwell European REIT (SGX:CWBU)’s results met our expectations. Maintain BUY and EUR2.15 target price, 27%upside with ~ 10% yield.
- Despite challenging market conditions, Cromwell European REIT's occupancy rose to a record high, coupled with positive rent reversions reinforcing managers’ superior leasing abilities and under-rented nature of its assets. Valuation fell marginally and gearing remains below 40%.
- - Read this at SGinvestors.io -
Portfolio rebalancing at work.
- - Read this at SGinvestors.io -
- A successful rebalancing will also accelerate its portfolio to its medium-term pivot of deriving 60% of income from logistics/light industrial assets with the balance from office.
- Gearing remains comfortable at slightly below 40% and Cromwell European REIT is not focusing on acquisitions at present considering market volatility.
Occupancy reaches record high 96%
- Read more at SGinvestors.io.
Vijay Natarajan RHB Securities Research | https://www.rhbgroup.com/ 2023-02-27
Read also RHB's most recent report:
2024-11-13 Cromwell European REIT - Maintaining Its Pole Position; BUY.
Previous report by RHB:
2024-05-27 Cromwell European REIT - Minimal Impact From The Change Of Sponsor.
Price targets by 2 other brokers at Cromwell REIT Target Prices.
Listing of research reports at Cromwell REIT Analyst Reports.
Relevant links:
Cromwell REIT Share Price History,
Cromwell REIT Announcements,
Cromwell REIT Dividends & Corporate Actions,
Cromwell REIT News Articles
