Yik Ban Chong, an analyst from Phillip Securities, maintained the Buy rating on Centurion Corporation Limited. The associated price target remains the same with S$2.01.
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Yik Ban Chong’s rating is based on the strategic developments surrounding Centurion Corporation Limited (CCL), particularly the upcoming listing of Centurion Accommodation REIT (CENT REIT). The REIT is expected to provide a robust distribution per unit yield, driven by high occupancy rates in Singapore’s worker accommodations and the demand for student housing in the UK and Australia.
Additionally, CCL’s significant stake in CENT REIT, alongside the anticipated management fees, is projected to sustain its adjusted profit after tax and minority interests (PATMI) over the coming years. The strategic divestment and distribution plans, including a dividend in specie, further enhance shareholder value, supporting the Buy rating. The valuation of CCL’s remaining assets at a discount to peers and the projected yields of CENT REIT contribute to a positive outlook for the company’s financial performance.
According to TipRanks, Ban Chong is ranked #1695 out of 9983 analysts.