IGB reits 3rd Quarter 季报

IGB reits 3rd Quarter 季报

Review of performance
Current quarter results

For the current quarter, IGB REIT’s gross revenue was RM108.0 million, representing 8.8 times higher than corresponding quarter in 2012 of RM12.3 million. IGB REIT recorded a net property income for the current quarter of RM73.7 million, representing 8.3 times higher than corresponding quarter in 2012 of RM8.9 million. This was mainly due to the acquisition of the investment properties by IGB REIT was completed on 20 September 2012.

The distributable income for the current quarter amounted to RM62.5 million or 1.83 sen per unit, mainly from total income of RM53.8 million and the main non-cash adjustment arising from Manager fee payable in units of RM7.4 million.

Current period-to-date results

For the current period-to-date, IGB REIT’s gross revenue was RM316.4 million, representing 25.7 times higher than corresponding period-to-date in 2012 of RM12.3 million. IGB REIT recorded a net property income for the current period-to-date of RM213.3 million, representing 24.0 times higher than corresponding period-to-date in 2012 of RM8.9 million. This was mainly due to the acquis itions of the investment properties by IGB REIT were completed on 20 September 2012.

The distributable income for the current period-to-date amounted to RM179.5 million or 5.25 sen per unit, mainly from total income of RM153.9 million and the main non-cash adjustments arising from Manager fee payable in units of RM21.6 million.

B2 Material changes in quarterly results

For the current quarter, IGB REIT’s gross revenue was RM108.0 million, representing 0.9% increase over the immediate preceding quarter of RM107.0 million. This was mainly due to higher total rental income in current quarter.

IGB REIT recorded a net property income for the current quarter of RM73.7 million, approximately 4.4% higher, compared with net property income of RM70.6 million in the immediate preceding quarter. This was mainly due to higher total rental income and lower property costs in current quarter

  
Profit Forecast vs Actual Results - IGB reits

Net Property Income

Mid Valley 估计净利RM157, 816, 000。而实际做到的收入为RM158, 961, 000.


The Gardens Mall估计收入RM49,060,000, 而实际做到的是RM54, 382, 000。


sources


--------------
再看回Q2

预测DY

Q2 eps 1.49

Q3 eps 1.58

而*Q1+Q2+Q3 = 4.5cents eps

预测Q4与Q3的eps一样= 1.58

4.5 + 1.58 =6.08

如果扣10% witholding tax

预测租金收入 (RM60.80 - 10%) / RM1.25 股价= 4.3%  (很低）

IGB reits的价值在黄金地点，人潮和未来的租金上升机会。

*Q1的eps不足3个月， 所以再以估计未来每个季节至少1.58, 一年合计6.32cents。

以RM1.25 价格计算，也只得4.5%

所以，就要耐心等，等租金上涨，等三个月后的Q4，看是否有更进步。

再不然，就等股价跌跌跌~


 也许你也有兴趣阅读以下文章；

22082013 用老虎去接老谢的泻肚子 

22岁的他

买股投资本来就很简单

人总会慢慢老去

屋主的名字