Highlights

SGX Stocks and Warrants

Author: kimeng   |   Latest post: Wed, 20 Nov 2019, 5:50 PM

 

Cache Logistics Trust: 2Q19 Results Missed Expectations

Author:   |    Publish date:


Cache Logistics Trust (CACHE) posted results that were below expectations. 2Q19 gross revenue decreased 7.4% YoY to S$27.8m, mainly due to the 1) the conversion from a master lease to a multitenancy lease structure at Precise Two, 2) absence of contribution from 40 Alps Ave and Jinshan Chemical Warehouse, and 3) transitory downtime between replacement tenants at Commodity Hub. This was partially offset by the contribution from an Australian warehouse acquired in Apr 2019.

2Q19 DPU dropped 6.9% YoY to 1.321 S cents, which we consider to be below expectations. The drop in DPU was mainly due to lower NPI and a one-off reversal of professional fees associated with the 51 Alps Ave’s legal proceedings in 2Q18.

We maintain HOLD but place our fair value of S$0.74 under review.

Source: OCBC Research - 25 Jul 2019

Share this

Related Stocks

Chart Stock Name Last Change Volume 
Cache Log Trust 0.71 0.00 (0.00%) 372 

  Be the first to like this.
 


 

79  52  119  853 

ActiveGainersLosers
Top 10 Active Counters
 NameLastChange 
 Tritech 0.038-0.005 
 Rex Intl 0.161+0.007 
 YZJ Shipbldg SGD 1.01+0.015 
 Dyna-Mac 0.124+0.006 
 Golden Agri-Res 0.24+0.005 
 LION-PHILLIP .. 1.138+0.001 
 Mapletree Com Tr 2.33+0.04 
 Citic Envirotech 0.5350.00 
 SingTel 3.30+0.04 
 GSS Energy 0.089+0.007 

TOP ARTICLES

1. Dairy Farm Residences preview draws crowd of 1,000 PropertyInvestment
2. SMT TV Episode 52 - Save money in insurance or bank (TRUTH!) Collin Seow Remisier Blog
3. ATFX Market Update - 2019.11.21 ATFX News Update_Martin
4. Geo Energy - Continuation of Perceived Weakness in The Near Future A Path to Forever Financial Freedom
5. ATFX Morning Brief - 2019.11.21 ATFX Market Update_Alejandro Zambrano
Partners & Brokers