IREIT Global's Distributions Likely to Be Hit by Upcoming Asset Redevelopment -- Market Talk

Dow Jones

01/02

0423 GMT - IREIT Global's distributions are likely to be hit by upcoming redevelopment of its biggest asset, Berlin Campus, RHB Research's Vijay Natarajan says in a research report. This move comes as Europe's largest pension fund will be vacating Berlin Campus following its lease expiry at end-December 2024, the analyst notes. Capital expenditure is estimated around 130 million euro to 160 million euros, which will probably be funded via debt and possible asset disposals. RHB cuts its 2025 distribution-per-unit forecast for the REIT by 34% and lowers the unit's target price to S$0.34 from S$0.40. However, this move provides the best path for the REIT to unlock long-term value and diversify its income base, says RHB, which maintains its buy rating. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

January 01, 2025 23:23 ET (04:23 GMT)

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This move comes as Europe's largest pension fund will be vacating Berlin Campus following its lease expiry at end-December 2024, the analyst notes. Capital expenditure is estimated around 130 million euro to 160 million euros, which will probably be funded via debt and possible asset disposals. RHB cuts its 2025 distribution-per-unit forecast for the REIT by 34% and lowers the unit's target price to S$0.34 from S$0.40. However, this move provides the best path for the REIT to unlock long-term value and diversify its income base, says RHB, which maintains its buy rating. (ronnie.harui@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 01, 2025 23:23 ET (04:23 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>IREIT Global's Distributions Likely to Be Hit by Upcoming Asset Redevelopment -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIREIT Global's Distributions Likely to Be Hit by Upcoming Asset Redevelopment -- Market Talk\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time smaller\">2025-01-02 12:23</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0423 GMT - IREIT Global's distributions are likely to be hit by upcoming redevelopment of its biggest asset, Berlin Campus, RHB Research's Vijay Natarajan says in a research report. This move comes as Europe's largest pension fund will be vacating Berlin Campus following its lease expiry at end-December 2024, the analyst notes. Capital expenditure is estimated around 130 million euro to 160 million euros, which will probably be funded via debt and possible asset disposals. RHB cuts its 2025 distribution-per-unit forecast for the REIT by 34% and lowers the unit's target price to S$0.34 from S$0.40. However, this move provides the best path for the REIT to unlock long-term value and diversify its income base, says RHB, which maintains its buy rating. (ronnie.harui@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 01, 2025 23:23 ET (04:23 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK6099","symbol_name":"辦公房地產投資信託","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2500199556","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2500199556","pubTimestamp":1735791780,"columns":[],"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":"0423 GMT - IREIT Global's distributions are likely to be hit by upcoming redevelopment of its biggest asset, Berlin Campus, RHB Research's Vijay Natarajan says in a research report. 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","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK6099":"办公房地产投资信托","UD1U.SI":"IREIT全球","CFA.SI":"NikkoAM-STC Asia REIT","BK6132":"办公室房地产信托","BK6512":"房地产股"},"translate_title":"IREIT Global的分配可能会受到即将到来的资产重建的打击——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CFA.SI":0.71,"UD1U.SI":0.9},"content_text":"0423 GMT - IREIT Global's distributions are likely to be hit by upcoming redevelopment of its biggest asset, Berlin Campus, RHB Research's Vijay Natarajan says in a research report. This move comes as Europe's largest pension fund will be vacating Berlin Campus following its lease expiry at end-December 2024, the analyst notes. Capital expenditure is estimated around 130 million euro to 160 million euros, which will probably be funded via debt and possible asset disposals. RHB cuts its 2025 distribution-per-unit forecast for the REIT by 34% and lowers the unit's target price to S$0.34 from S$0.40. However, this move provides the best path for the REIT to unlock long-term value and diversify its income base, says RHB, which maintains its buy rating. (ronnie.harui@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  January 01, 2025 23:23 ET (04:23 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}