Pavilion REIT issues 3.12 million units for part payment of management fees
PETALING JAYA: (Feb 19) Pavilion Real Estate Investment Trust (Pavilion REIT) will issue 3.
PETALING JAYA: (Feb 19) Pavilion Real Estate Investment Trust (Pavilion REIT) will issue 3.
KUALA LUMPUR (Jan 30): Pavilion Real Estate Investment Trust (KL:PAVREIT) saw its net property income (NPI) in the fourth quarter rise 11.
The REIT said retail remains the cornerstone of its performance, contributing RM652.
While Pavilion REIT continues to benefit from a rebound in tourism with expected drive spending and traffic at key assets such as Pavilion Kuala Lumpur and Pavilion Elite, the research house said the recent share price rally had already priced in much of this optimism and “tilted its risk-reward to be less compelling”.
The trust, which mainly manages retail and hospitality assets, declared an interim income distribution of 0.
The issue price represents a discount of 3.
The REIT's distributable income came in at RM98.
Post-acquisition, the hotels will comprise approximately 5.
The REIT’s distributable income for 4QFY2024 stood at RM88.
After acquiring two premier hotels namely Banyan Tree Hotel and Pavilion Hotel in Kuala Lumpur for a sum of RM480 million.