Brokers' take
Soilbuild Business Space Reit I HOLD (changed) Jan 23 close: S$0.62 Target price: S$0.62 OCBC Investment Research, Jan 23
SOILBUILD REIT's Q4 2018 results were above expectations due to a one-off item. Q4 2018 distribution per unit (DPU) increased 16.5 per cent quarter-on-quarter and 4.9 per cent year-on-year to 1.451 Singapore cents mainly due to S$3.25 million in liquidation proceeds received from Technics Offshore Engineering.
On a full-year basis, FY18 DPU fell 7.5 per cent year-on-year to 5.284 Singapore cents or 104.5 per cent of our initial full-year forecast. Without the one-off item, Q4 2018 DPU would have fallen 8.1 per cent quarter-on-quarter and 17.3 per cent year-on-year to 1.144 Singapore cents, while FY18 DPU would have fallen 12.9 per cent year-on-year to 4.98 Singapore cents or 98.5 per cent of our initial full-year forecast.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
TikTok tells advertisers: ‘We are not backing down’
EV automakers get reprieve in US tax credit rules
Nomura, Mizuho face losses on All Blue fund’s failed trades
Stablecoin Tether steps up monitoring in bid to combat illicit finance
HSBC asked by US$890 billion investor group to set energy goal
BHP’s biggest rivals sit on the sidelines of Anglo M&A drama