Our website is made possible by displaying online advertisements to our visitors.
Please consider supporting us by disabling your ad blocker.

Affin Hwang Capital raises target price for YTL Hospitality REIT to RM1.38

TheEdge Mon, Dec 31, 2018 08:58am - 8 months ago


KUALA LUMPUR (Dec 31): Affin Hwang Capital Research has maintained its “Buy” rating on YTL Hospitality REIT at RM1.19 with a higher target price of RM1.38 (from RM1.32) after incorporating the earnings contribution from its recently-acquired Green Leaf Niseko Village hotel.

In a note today, the research house said with an initial gross yield of 5.25%, against a borrowing cost of c.1%, it expects the deal to be yield accretive.

“Elsewhere, we have trimmed our profit forecasts for the Australian hotels, in view of the lower-than-expected RevPar in YTD FY19E.

“Overall, we are lifting our FY19-21E distributable EPU by 0.5-2.9%. At a 6.8% FY19E yield, YTLREIT’s valuation looks attractive, in our view. Reaffirm BUY call,” it said.

 








Related Stocks

AFFIN 1.980
YTL 0.980
YTLREIT 1.360

Comments

Login to comment.