Sentral REIT to buy UEM Sunrise’s Mont’Kiara retail assets for RM70m
The assets are currently fully tenanted with a mix of food and beverages (F&B), lifestyle, health and educational tenants, many of which are under a sales turnover rental model.
The assets are currently fully tenanted with a mix of food and beverages (F&B), lifestyle, health and educational tenants, many of which are under a sales turnover rental model.
In a note on Thursday, CIMB Securities said that the company's earnings are expected to grow 2.
Revenue increased 5.
Net property income for 3QFY2024 was RM37.
Calls on the REIT’s units remained mixed following the latest quarterly results, although analysts flagged its appealing distribution yield as compared to the sector average.
RHB Bank also kept its "buy" call, with a dividend discount model (DDM)-derived target price of 91 sen.
Finance costs rose 44.
Sentral REIT, which has 53% of its portfolio by valuation located in KL Sentral here, also has exposure in Cyberjaya (13% of portfolio) and Penang (6%).
In a note on Wednesday, RHB IB stated that Sentral REIT’s net profit for the fourth quarter of 2023 (4Q2023) came in at RM19.
The improvement in gross revenue was also due to the impact of revenue straight-lining over the lease term under requirements of Malaysian Financial Reporting Standard 16 Leases, said Sentral REIT in a bourse filing.