KUALA LUMPUR (May 22): Maybank IB Research has downgraded AmanahRaya REIT (ARREIT) to Hold with a target price of 95 sen.
It said ARREIT's 1Q12 results, which will be released by Wednesday, were likely to be subdued with an expected year-on-year decline in earnings mainly due to the loss of rental income at Wisma UEP since Jul 2011 and higher refurbishment costs.
In a note Tuesday, the research house said near-term catalysts could come from: 1) the sale of the Wisma UEP building in Subang Jaya and 2) new acquisitions.
"We maintain our forecasts and 95 sen target price for now. ARREIT is fairly valued at the current price (7.9% gross yield)," it said.
TOP PICKS BY EDGEPROP
Kota Damansara | Freehold Condo Walk To UNIVERISTY
Kota Damansara, Selangor
Residence [email protected] [Foc Mot & Free Furniture]
Bandar Botanic/Bandar Bukit Tinggi, Selangor
Cyberjaya | Cash Back Up To 35K New Condo
Cyberjaya DUAL KEY CONDO FREE FURNISHED+RENOVATED
You Buy property , We help you pay Installments !!
Nilai, Negeri Sembilan
You buy Property , We Help you pay installments !
2.5 Storey Bungalow House Kg Kubu Gajah
Sungai Buloh, Selangor
(CMCO Offer) 5R6B Villa Style Super Link, Puchong
Cheras Semi D Below Market Price Left *7Units*
Cheras, Kuala Lumpur
Mont Kiara | New Condo Below Market Price
Mont Kiara, Kuala Lumpur