Mapletree Greater China Commercial Trust (MGCCT) has posted an 11.9% year‐on‐year growth in DPU to 1.56 Singapore cents for the 2Q ended 30 June 2014 with strong rentals for its retail and office assets, beating its forecast by 9.3%. MGCCT's gross revenue rose 8.6% to S$63.8 million as Festival Walk and Gateway Plaza both raked in higher revenues. Net property income rose 9.9% to S$52.6 million, exceeding its forecast by 8.8%. MGCCT achieved an occupancy of 99.2% as at 30 June 2014.
MGCCT had been undervalued for many months ever since it hit the lowest of 78 cents few months ago. At current price of 93 cents based on today closing, there is still room for upside on this REIT. I will stay vested as long as it had been giving consistent 6% to 7% yield annually.
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