Stocks to watch: CDLHT, Sabana Reit, CapitaLand Ascott Trust, Keppel Corp, Keppel Reit

THE following companies saw new developments that may affect trading of their securities on Monday (Jan 30):

CDL Hospitality Trusts (CDLHT): Its distribution per stapled security (DPS) rose 17.3 per cent to S$0.0359 for the second half of 2022 ended December, compared with S$0.0306 a year ago. The stapled group on Monday said it saw positive momentum in rate growth across all its portfolio markets due to continued global travel recovery during the half-year period. Stapled securities of CDLHT rose 0.8 per cent or S$0.01 to close at S$1.35 on Friday. Sabana Industrial Real Estate Investment Trust (Sabana Reit): It has posted a distribution per unit (DPU) of 1.46 Singapore cents for the half-year ended Dec 31, 2022, down 7 per cent from a year ago despite higher gross revenue and steady net property income. Its manager on Monday attributed the lower DPU to higher interest expenses. Units of the Reit ended Friday unchanged at S$0.45.

CapitaLand Ascott Trust (Clas): Its manager on Monday reported DPS of S$0.03 for the second half-year ended Dec 31, 2022 after adjusting for one-off items. The strong performance was attributed to higher portfolio revenue per available unit growth and accretive acquisitions. Stapled securities of Clas closed at S$1.07, down 0.9 per cent or S$0.010 on Friday.

Keppel Corporation : The group on Monday said Keppel Offshore & Marine (Keppel O&M) has made full payment of the fines and damages payable to Brazil under a leniency agreement that had been earlier set out. Singapore’s Attorney-General’s Chambers and the Corrupt Practices Investigation Bureau have also allowed Keppel O&M to seek crediting of up to US$52.8 million in fines payable by Keppel O&M to the Brazilian authorities. Keppel Corp closed up S$0.03, or 0.4 per cent higher at S$7.55 on Friday before the announcement.

Keppel Reit : The Reit announced positive rental reversions of 23.4 per cent in Q4 2022 for its office assets in Singapore’s Central Business District on Friday. The portfolio’s reversions for FY2022 stands at 10 per cent, and they now expect reversions in the “mid to higher single digits” for leases expiring in 2023. Units of Keppel Reit closed at S$0.97, up 3.7 per cent or S$0.035 before the announcement. 

Parkway Life Real Estate Investment Trust (Parkway Life Reit): The Reit reported a 2.1 per cent increase in its DPU to 14.38 Singapore cents for FY2022 ended Dec 31, 2022, from 14.08 cents for FY2021. Gross revenue for the full year was up 7.7 per cent at S$130 million from S$120.7 million, it said in a bourse filing on Friday. Units of Parkway Life Reit closed at S$4, up 1 per cent or S$0.04 before the announcement. 

Starhill Global Real Estate Investment Trust (Starhill Global Reit): The Reit announced on Friday its DPU was up 2.2 per cent at S$0.0182 for the first half of FY2022/2023 ended Dec 31, 2022, compared with S$0.0178 a year ago. The Reit’s gross revenue was up 4.1 per cent year on year at S$94.7 million from S$91 million. Units of Starhill Global Reit closed at S$0.59, up 0.9 per cent or S$0.005 before the announcement.