Lippo Malls Indonesia Retail Trust (LMIRT): Post 4Q14 results, CIMB consider LMIRT to be inexpensive as it is currently trading at 9.0% FY15 dividend yield and 0.8x P/BV vs. 6.9% FY15 dividend yields and 1.0x P/BV for other SGX-listed REITs with large overseas exposure.
In the quarter, portfolio remained strong, with occupancy at 94.7%, while achieving a positive rental reversion of 10.8%.
House reckons LMIRT has room for further growth, both organically and inorganically.
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