- As expected, the price declined after ex-div
- NPI up but headwind still strong, given that Festival Walk (HK) contributed 62% of revenue. https://sbr.com.sg/commercial-property/news/mapletree-north-asia-commercial-trusts-npi-13-in-q2
- Still no sign of peace from the HK protest and there's a recent incident at Festival Walk
- "Footfall for 1H20 fell 3.6% and tenant sales dipped 6.6% in 1H20. We estimate that 2Q20 metrics were slightly weaker (at -4.9% for footfall and -10% for tenant sales" https://www.dbs.com.sg/treasures/aics/templatedata/article/recentdevelopment/data/en/DBSV/102019/MAGIC_SP_10292019.xml
- Top of chart represented a head-and-shoulder pattern. Haven't found a support point for the lower low after shoulder
- Current yield of 6.27% may be attractive, but as we know yield (or DPU) is pegged to earnings. All eyes will be on April 2020 earning release. https://www.mapletreenorthasiacommercialtrust.com/Investor-Relations/Financial-Information/Latest-Financials.aspx
- Looking to pick up nearing region of $1.15 should it drop further
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ReplyDeleteHi Uncle8888,
ReplyDeleteIndeed, this one really "take lift down". Wait for selldown pressure to ease first.