Elite Commercial REIT - CGS-CIMB Research 2024-02-19: Execution On Track

Elite Commercial REIT - Execution On Track

Published:
Elite Commercial REIT (SGX:MXNU) | SGinvestors.ioElite Commercial REIT (SGX:MXNU)

2H23/FY23 results highlights

  • Elite Commercial REIT (SGX:MXNU) posted a 0.9% y-o-y increase in 2H23 revenue to £18.5m due to rental escalations, while net property income was up a higher 21.1% y-o-y to £21.4m, with the inclusion of £5.1m of dilapidation settlements.
  • - Read this at SGinvestors.io -
  • 2H23 DPU of 1.33 pence was 40.9% lower y-o-y, based on a reduced 90% payout ratio and a 21.4% expansion in units base, following its preferential offer.
  • Elite Commercial REIT’s portfolio value was revalued down by 9.5% at end-FY23, bringing its book NAV to £0.43/unit.

Keeping portfolio occupancy high; exploring alternative asset uses

  • Read more at SGinvestors.io.




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 | Natalie ONG CGS-CIMB Research | https://www.cgs-cimb.com 2024-02-19



Previous report by CGS-CIMB:
2023-11-07 Elite Commercial REIT - Focusing On Building Balance Sheet Strength.

Price targets by other brokers at Elite Commercial REIT Target Prices.

Listing of research reports at Elite Commercial REIT Analyst Reports.

Relevant links:
Elite Commercial REIT Share Price History,
Elite Commercial REIT Announcements,
Elite Commercial REIT Dividends & Corporate Actions,
Elite Commercial REIT News Articles





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