Stock Name: ARREIT
Company Name: AMANAHRAYA REITS
Maintain Buy. AAREIT's RM42.5m 2011 core net profit (+2.7% YoY) came in as expected. 2011 DPU of 7.2sen was also in line (7.8% yield; 97% payout). Positive earnings surprises could come from the potential sale of Wisma UEP while RM200m new assets target for 2012 would enlarge the earnings base. We fine-tune our earnings forecasts by +1.4-1.6% post actual 2011 results announcement. Our DCF-based target price remains intact at RM0.95.
Maybank Research 16 Feb 2012
Click here for full report
Company Name: AMANAHRAYA REITS
| Research House: MAYBANK | Price Call: BUY | Target Price: 0.95 |
Maintain Buy. AAREIT's RM42.5m 2011 core net profit (+2.7% YoY) came in as expected. 2011 DPU of 7.2sen was also in line (7.8% yield; 97% payout). Positive earnings surprises could come from the potential sale of Wisma UEP while RM200m new assets target for 2012 would enlarge the earnings base. We fine-tune our earnings forecasts by +1.4-1.6% post actual 2011 results announcement. Our DCF-based target price remains intact at RM0.95.
Maybank Research 16 Feb 2012
Click here for full report
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