- Elite UK REIT (SGX:MXNU)'s gross revenue for 1H24 slid by 0.6% y-o-y owing to the 7.7% vacancy rate in the portfolio to £18.6mil, which was 48% of our FY24e estimates. NPI is in line with our forecast and down by 4.7% to £18.7mil as vacancy holding cost continues to hurt the margin.
- - Read this at SGinvestors.io -
- We reiterate our BUY recommendation with an unchanged DDM-based Elite UK REIT's target price of £0.32.
The Positives
Picking up in leasing momentum.
- - Read this at SGinvestors.io -
Valuation gain.
- 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/.
Liu Miao Miao Phillip Securities Research | https://www.stocksbnb.com/ 2024-08-08
Read also Phillip's most recent report:
2024-11-06 Elite UK REIT - DPU Back To Growth.
Price targets by 2 other brokers at Elite UK REIT Target Prices.
Listing of research reports at Elite UK REIT Analyst Reports.
Relevant links:
Elite UK REIT Share Price History,
Elite UK REIT Announcements,
Elite UK REIT Dividends & Corporate Actions,
Elite UK REIT News Articles
