1. Flattish earnings. TOWER REIT ("TWRREIT") reported 2Q13 EPS of 2.51 sen (+2% YoY against 2.47 sen last year). The slight increase of 2% in EPS is in line with 2% increase in revenue to RM13.2m.
2. Income distribution of 5.09 sen was announced. Ex date will be on 7-Aug-2013. Payment date is 27-Aug-2013. However, this is 8% lower compare to last year distribution of 5.48 sen.
3. Some background: The three assets of the company are Menara HLA, HP Towers and Menara ING.
4. Just a dividend play. Despite flattish earnings, dividend remain attractive with net yield of more than 6.5%.
This blog is related to observations regarding stocks traded in Malaysia. Disclaimer: The company analysis that appear in this blog is merely facts gathered from different sources and the author's personal view. It is not a buy or sell recommendation. The author do not guarantee the accuracy of the facts being presented. Please consult your investment advisors before acting on any information provided by the analysis above.
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