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.
Sentral REIT had on July 25 struck a deal with MRCB’s wholly-owned unit Puncak Wangi Sdn Bhd to acquire Menara CelcomDigi, a 27-storey office building.
We know city connectivity is a priority and rejuvenation is a necessity.
Gross revenue for the quarter increased by 11.
PIVB recommended to non-interested shareholders of MRCB to vote in favour of the resolution pertaining to the proposed acquisition at the extraordinary general meeting on Oct 24.
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