HEKTAR REIT has won the gold award at The Edge Malaysia ESG Awards 2024 in the outstanding ESG performance and dividend return category. While having a 4.7% increase in occupancy and a 10% rise in footfall across its properties in 2023, Hektar energy consumption has maintaned at 2022 levels, showing its commitment to operational efficiency.
Posted by MrMoptop3 > 26 minutes ago | Report Abuse
HEKTAR REIT has won the gold award at The Edge Malaysia ESG Awards 2024 in the outstanding ESG performance and dividend return category. While having a 4.7% increase in occupancy and a 10% rise in footfall across its properties in 2023, Hektar energy consumption has maintaned at 2022 levels, showing its commitment to operational efficiency.
HEKTAR REITS OWN THE MAKOTA PARADE IN MELAKA NEAR THE ICONIC TOURISM HEARTLAND
WITH FAN BINGBING HELPING TO PROMOTE SURE GOING TO DO VERY WELL
Hektar REIT trading at a big discount! With it being 48% below the FY25 NAV, it's definitely worth looking into for a long-term buy. High potential for upside!
9% distribution yield in FY25 with higher occupancy rates? This HEKTAR is looking better and better, especially with new tenants boosting cash flow stability 🤗
Teruja melihat Hektar mempelbagaikan harta Kolej Yayasan Saad. Pajakan 30 tahun ke atas harta pendidikan membawa tahap kestabilan baharu. Tindakan hebat oleh pihak pengurusan
cut loss sold all remaining HEKTAR at 0.520 (cut queue at morning session open price, 27 november 2024). QR EPS is not up to my satisfactory despite without the one off expenses to acquire new subsidiary
Average occupancy rate of malls dipped slightly to 85.6% in 3QFY24 but is expected to improve in 4QFY24 with new tenants secured. New tenants have been secured for Subang Parade, Mahkota Parade, Central Square and Segamat Central. These new tenants are expected to increase the overall average occupancy rate of its malls to 92% by end of FY24.
We project higher distributable income in FY25F with new tenants secured for existing shopping malls, coupled with the rent contribution of Kolej Yayasan Saad after completing the acquisition of the asset in July 2024. We maintain BUY on Hektar REIT with an unchanged TP of RM0.86/unit based on DDM with a WACC assumption of 7.4% Current unit price of RM0.53 represents a discount of 47% from our FY25F NAV per unit of RM1.00.
The distribution yield of HEKTAR is projected to increase to 8.9% in FY25F, up from 6.5% in FY24F, driven by improved mall occupancy rates and steady rental income from the newly acquired asset.
The real estate investment trust (REIT) segment, which has been performing commendably this year, is expected to maintain its steady momentum into 2025 !
All REIT are performing except Hektar that even had obtained low-rate loan. Hard to believe!!! May be KYS purchase is the root cause. .........hehehe.......................
Retail property-focused Hektar Real Estate Investment Trust (Hektar-REIT) is expected to see higher revenue and distributional income from the entry of new tenants to several malls under its portfolio for the financial year ending Dec 31, 2025 (FY25).
“We expect the overall weighted average occupancy rate of Hektar malls to increase from 85.6% in the third quarter of financial year 2024 (3Q24) to 88.2% in 4Q24 and 91.1% in 1Q25 driven by the entry of new tenants,” AmInvestment Bank Research said.
It added that the REIT has completed the first phase of its asset enhancement initiatives (AEI) with replacement of lifts and escalators as well as new tenants secured for 4Q24 in Subang Parade.
The research house maintained a “buy” call on the stock but revised the target price slightly lower to 85 sen per unit from 86 sen to reflect the delayed start of a new anchor to one of Hektar-REIT’s six malls.
“We expect an improvement in the unit price from rise in occupancy rates of existing shopping malls with new tenants secured,” it said.
Hektar-REIT’s acquisition of its first ever education asset, Kolej Yayasan Saad, would start to contribute to gross revenue with a steady yearly rental reversion rate of 2.5% throughout the lease period of 30 years.
“With the second phase of the AEI underway for Subang Parade, new tenants secured recently would raise the mall’s occupancy rate to 85.1% in 4Q24 from 77.5% in 3Q24, while two mini anchor tenants expected to start operations in 1Q25 would raise the mall’s occupancy rate to 86.5%.
“We expect the rental from these new tenants to increase Hektar-REIT’s revenue in FY25,” it said.
As for Hektar-REIT’s mall property, Central Square in Sungai Petani in Kedah, the research house expects an uplift in gross revenue from 1Q25 from rental from two anchor tenants, which would occupy a combined net lettable area of up to 45,000 sq ft, raising the occupancy rate to 89.9% by 1Q25 from 75.4% in 3Q24.
“Expect improvements in the rental yield and occupancy rate for Segamat Central due to the ongoing reconfigurations of lower ground floor space, tenant remixing initiatives and a new anchor tenant entry,” it said.
Hektar-REIT’s reconfiguration strategy involves subdividing floor space from a large anchor tenant into smaller lots to boost rental yields with a higher rent per sq ft.
To create a more diverse tenant mix aligning to consumer preference, Hektar-REIT has plans to introduce more food and beverage outlets and lifestyle stores to Segamat Central, with a new anchor tenant to begin operations in 1Q25, bringing the occupancy rate to 81.4% from 72.4% in 3Q24.
“We expect the overall weighted average occupancy rate of Hektar malls to increase from 85.6% in the third quarter of financial year 2024 (3Q24) to 88.2% in 4Q24 and 91.1% in 1Q25 driven by the entry of new tenants,” AmInvestment Bank Research said.
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Posted by OppenHermes > 2024-10-14 11:44 | Report Abuse
NTA is around RM1.05 but the current share price is only 52 cents. Big discounts