MapleTree NAC Trust

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TehSi99

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MNACT has been weak for some time and now it has fallen below $1. Not sure the prospects.
 
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Bedokahlau

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1. I am not a financial expert but I think Mapletree North Asia share is a good buy if the price is below $1.
2. I buy some at 1.01, 0.96 and 0.95.
3. Now the price has risen to 0.98 which is still extremely sexy (for brothers and sisters who dun want to wait).
4. I actually thought this share will go to 0.94 (my intention is to buy even more at this price).
5. I buy this reit shares to keep and hold (my mentality is different from many other people who may panic sell if they are uncomfortable with price changes).
 
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Andrew833

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Bedokahlau said:
1. I am not a financial expert but I think Mapletree North Asia share is a good buy if the price is below $1.
2. I buy some at 1.01, 0.96 and 0.95.
3. Now the price has risen to 0.98 which is still extremely sexy (for brothers and sisters who dun want to wait).
4. I actually thought this share will go to 0.94 (my intention is to buy even more at this price).
5. I buy this reit shares to keep and hold (my mentality is different from many other people who may panic sell if they are uncomfortable with price changes).
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Good price, I previously brought at 0.965, recently add more at 1.01.
Just hold long term and don't panic sell, just relax and collect dividend.
 
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lzydata

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A) 1H FY21/22 DPU higher by 19.1% compared to 1H FY20/21
 Lower rental reliefs to retail tenants as footfall and retail sales increased at Festival Walk mall
 Contributions from acquisitions in Japan and South Korea
B) Portfolio occupancy edged up to 97.9% as at 30 September 2021
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DPU up 19.1% from last year, annualised distribution yield is 7.1%. DRP to be applied for coming semi-annual distribution of 3.426c.

https://links.sgx.com/FileOpen/2_MNACT_PressRelease_28Oct21.ashx?App=Announcement&FileID=688575
https://links.sgx.com/FileOpen/3_MN...s_28Oct21.ashx?App=Announcement&FileID=688576
https://links.sgx.com/FileOpen/1_MN...28Oct2021.ashx?App=Announcement&FileID=688574
 
Shion

Shion

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CGS-CIMB reiterates 'add' for Mapletree North Asia Commercial Trust towards a more stable 2H​


https://www.theedgesingapore.com/ca...tree-north-asia-commercial-trust-towards-more
CGS-CIMB Research analysts Lock Mun Yee and Eing Kar Mei have maintained their ‘add’ rating for Mapletree North Asia Commercial Trust (MNACT), with an unchanged target price of $1.12.

Lock and Eing have also kept their distribution per unit (DPU) estimates for the FY2022 and FY2024 unchanged.

In an Oct 29 note, the analysts say MNACT is trading at an inexpensive 6.8% FY2022 DPU yield and much of the weak retail outlook at Festival Walk has been factored into the current share price.

In the 1HFY2022, MNACT reported gross revenue and net property income (NPI) of $215.4 million and $161.9 million respectively, 13.1% and 15.8% higher y-o-y. This is due to lower rental relief of $4.7 million granted to retail tenants at Festival Walk, contributions from Hewlett-Packard Japan headquarters as well as a stronger Renminbi.

The figures were partly offset by lower average rental rates at Festival Walk and Gateway Plaza as well as a weaker Hong Kong dollar. This led to a higher NPI margin of 75.1% for 1HFY3/22, the analysts highlight.

Distributable income grew 19.1% y-o-y at $119.5 million, translating to a DPU of 3.426 cents. Portfolio occupancy ticked up slightly q-o-q to 97.9%.

In terms of balance sheet, MNACT’s gearing stood at 41.4% at end-1HFY22, with interest cover of 4.1 times, while effective interest cost declined h-o-h to 1.84%.

Gross revenue at Festival Walk grew 21.4% y-o-y to $106.6 million, while NPI grew a higher 26.1% y-o-y, boosted by lower rent reliefs. Retail sales and shopper traffic at Festival Walk expanded 22% and 29% respectively y-o-y, in tandem with overall improvements in Hong Kong’s retail sales.

While occupancy remained fairly stable at 99.9%, leasing conditions were soft as retailers remained cautious on outlook, say Lock and Eing. MNACT reported a 30% decline in rental reversion in 1H.

The company has a remaining 5% of portfolio gross rental income coming from Festival Walk’s lease expiries for 2HFY3/22F. MNACT expects the quantum of negative reversions for 2HFY22F to remain similar to that of 1H.

The analysts add that interior recovery works at Festival Walk have been completed and exterior works are being carried out progressively and are expected to complete by end-2021.

Meanwhile, Gateway Plaza saw higher occupancy of 95.4% but recorded a negative reversion of 24%. Looking ahead, with ample incoming supply, the analysts think the weak outlook is likely to continue to drag on upcoming lease renewals.

“MNACT also indicated that one of the major tenants at Gateway Plaza, whose current lease is due to expire by Dec 2022, has extended its lease in advance by another year. Meanwhile, Sandhill Plaza and the Japan portfolio continue to be steady performers, delivering a 5% and 1% rental reversion and stable occupancy of 99.7% and 87.8% respectively.

“The Pinnacle Gangnam reported a 58% rental reversion on renewal of one lease and management guided that rental reversions are likely to remain healthy. MNACT has another 1.2% of leases in Japan and Seoul to be re-contracted in 2HFY22F,” the analysts add.

CGS-CIMB’s target price for MNACT is $1.12, presenting a 12.3% upside.

As at 4.15 pm, units in MNACT are trading flat at $1.02.
 
H

hahaman111

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How to apply the scrip via DBS digibot?

I received the letter liao. But can't find the way to do it leh.
 
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Andrew833

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singqian said:
what is this? current holder can purchase additional share at this price? worth to execute?
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MNACT this DPU have 2 choices;
1) Cash
2) DRP - new share
Last dividend I didn't choose DRP cos DRP is too low. This DRP, have not decide yet, depend on DRP price.
 
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Andrew833

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My dividend $342.60
DRP $0.963
355.76 shares
Current price $1.01
Odd lot is a problem.
 
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