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Stocks to watch: CDLHT, Starhill Global, CitySpring, MGCCT, Parkway Life, OUE H-T, Cache Logistics
THE following counters made announcements after market close on Tuesday evening that could affect trading on Wednesday morning:
CDL Hospitality Trusts (CDLHT) posted a 7.2 per cent increase in its distribution per stapled security (DPS) to 3.13 Singapore cents for the fourth quarter ended Dec 31, 2014, up from 2.92 Singapore cents a year ago.
The group recorded higher gross revenue of S$45.1 million, up 14.4 per cent, as it recognised the full hotel revenue from Jumeirah Dhevanafushi and a S$1.3 million rental sum from Angsana Velavaru in Maldives.
Starhill Global Reit on Tuesday posted a distribution per unit (DPU) of 1.29 Singapore cents for its fourth quarter ended Dec 31, 2014, up 4.9 per cent from a year ago.
Gross revenue dipped 0.4 per cent to S$48.9 million, mainly due to weaker contribution from Renhe Spring Zongbei in China's Chengdu as well as its properties in Japan. Net property income rose 2 per cent to S$39.6 million on lower property expenses. The counter closed half a cent higher at S$0.835 before the announcement of its results.
CitySpring Infrastructure Trust's distribution per unit remained unchanged at 0.82 Singapore cents for the quarter ended Dec 31, 2014. This was despite a 7.3 per cent drop in revenue to S$120 million, hurt by lower contributions from its City Gas, SingSpring and CityNet segments. For the quarter, the trust posted cash losses of S$13.5 million, a reversal from cash earnings of S$14.7 million a year ago.
Mapletree Greater China Commercial Trust (MGCCT) posted a 9.5 per cent year-on-year rise in distribution per unit of 1.662 Singapore cents for the third quarter ended Dec 31, 2014, translating into an annualised yield of 6.5 per cent. This beat its own forecast by 17 per cent.
Parkway Life Reit's distribution per unit for the fourth quarter ended Dec 31, 2014, rose 2.8 per cent to 2.90 Singapore cents, as acquisitions and rental growth of existing properties boosted distributable income by 2.9 per cent to S$17.5 million. Gross revenue was 1.5 per cent higher at S$25.1 million, aided by rental income contributions from Japanese properties acquired in the second half of 2013 and in 2014.
OUE Hospitality Trust's (OUE H-Trust) fourth-quarter distributable income rose 7.5 per cent on the back of better per-unit revenues in its hotel and mall assets. Income available for distribution rose to S$23.6 million in the quarter ended Dec 31, 2014, about 1.3 per cent more than the trust's own forecast. Distribution per unit increased by 6.6 per cent to 1.78 Singapore cents.
Cache Logistics Trust on Tuesday reported a distribution per unit of 2.146 Singapore cents for its fourth quarter ended Dec 31, 2014, slightly higher than the 2.137 Singapore cents it paid out a year ago. The trust's gross revenue dipped 0.4 per cent to S$20.6 million, while net property income dipped one per cent to S$19.4 million.