Stocks to watch: CDLHT, Cromwell E-Reit, CLI, Clas, IReit Global, Elite UK Reit
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THE following companies saw new developments that may affect the trading of their securities on Friday (Dec 20):
CDL Hospitality Trusts (CDLHT): The stapled group is venturing into the student accommodation business for the first time with the purchase of Benson Yard, a purpose-built student accommodation (PBSA) in Liverpool. The PBSA and the adjacent vacant land were both acquired for £37.3 million (S$63.9 million), announced its managers on Thursday. Stapled securities of CDLHT closed flat at S$0.85, before the announcement.
Cromwell European Real Estate Investment Trust (Cromwell E-Reit): The Reit is divesting two office assets in Italy for 20.9 million euros (S$29.6 million), which its manager on Friday noted to be a blended premium of 7.7 per cent over latest valuations. This is expected to reduce Cromwell E-Reit’s exposure to the Italian government. Units of the Reit ended Thursday 0.02 euro or 1.3 per cent higher at 1.59 euros.
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