- In the 1Q24 update, no financials were provided, but LHN (SGX:41O) reiterated that the occupancy of their portfolio of assets (industrial, commercial, co-living) is over 90%. The two major projects, 55 Tuas South and GSM Building, are proceeding as scheduled.
- - Read this at SGinvestors.io -
- We maintain our forecast and BUY recommendation. Our target price of S$0.39 is unchanged. We peg our valuations to 6.5x FY24e P/E, while the industry is trading around 13x.
Key Highlights
Strong occupancy over 90%.
- - Read this at SGinvestors.io -
- The two-week-old and 15th co-living property, Coliwoo Hotel Pasir Panjang, has already achieved 60% occupancy. A larger proportion of tenants are foreigners, mainly professionals and students. The average length of stay is 6 to 9 months.
- The 15 industrial properties are also 90% occupied with stable rents due to the current demand and supply conditions.
Major planned projects are proceeding well.
- Read more at SGinvestors.io.
Above is the excerpt from report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full report in PDF @ https://www.stocksbnb.com/.
Paul Chew Phillip Securities Research | https://www.stocksbnb.com/ 2024-03-07
Previous report by Phillip:
2023-12-12 LHN Limited - Co-living Revenue Doubles.
Price targets by 2 other brokers at LHN Target Prices.
Listing of research reports at LHN Analyst Reports.
Relevant links:
LHN Share Price History,
LHN Announcements,
LHN Dividends & Corporate Actions,
LHN News Articles
