ATRIUM Real Estate Investment Trust (+ve)

ATRIUM Real Estate Investment Trust (REIT) (fundamental: 1.3/3, valuation: 1.2/3), which made it into our Stocks with Momentum list yesterday for the first time since April 28, 2017, closed 1.83% or two sen higher at RM1.11. The counter saw 708,200 units traded, over eight times its 200-day average trading volume of 84,451 units.

The REIT posted a 69.73% jump in net rental income for its fourth quarter ended Dec 31, 2019 to RM8.13 million from RM4.79 million in the corresponding quarter a year prior, as revenue grew 62.26% to RM8.22 million from RM4.9 million previously.

The REIT declared a distribution of 2.23 sen per unit, bringing its full-year total to 6.63 sen — down from 8.1 sen in the previous financial year.

For the financial year ended Dec 31, 2019, Atrium REIT’s net rental income grew 24% to RM21.41 million from RM17.26 million as gross revenue expanded 19.05% to RM22.6 million from RM18.78 million.