Elite Commercial REIT's Valuation Looks Attractive -- Market Talk

Dow Jones2023-11-28

0225 GMT - Elite Commercial REIT's valuation looks attractive, with asset monetization underway, Phillip Securities Research analyst Liu Miaomiao says in a research report. The units' valuation is at 0.59X price-to-net-asset value, below Singapore REITs' average historical valuation. For the first nine months of 2023, Elite Commercial REIT has been monetizing assets, selling its Openshaw Jobcentre in Manchester, Cardwell Place in Blackburn and Leeds Road in Bradford, the analyst says. That netted it total gross proceeds of GBP11.4 million and reduced gearing by 60bps to 45.4%, the analyst adds. The brokerage initiates coverage of the REIT with a buy rating and a target price of GBP0.36. Units closed 1.5% lower at GBP0.335 on Monday. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

November 27, 2023 21:25 ET (02:25 GMT)

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The units' valuation is at ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK6132","symbol_name":"办公室房地产信托","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2386166745","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2386166745","pubTimestamp":1701138300,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0225 GMT - Elite Commercial REIT's valuation looks attractive, with asset monetization underway, Phillip Securities Research analyst Liu Miaomiao says in a research report. 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