Lippo Malls Trust: (S$0.37) 2Q16 results beat on new acquisitions; two more in pipeline
-2Q16 rose 16.3% to 0.85¢, ahead of estimates.
- Revenue ($46.8m, +10.8%) and NPI ($43.1, +10.4%) were boosted by the acquisition of Lippo Plaza Batu and Palembang Icon
- Occupancy inched up 0.1ppt q/q to 94.8%, aggregate leverage was steady at 35.7%.
-The proposed acquisitions of Lippo Mall Kuta and Lippo Plaza Yogjakarta are expected to provide income growth when completed
- Trading at 9.1% annualized 2Q yield, and 1x P/B.
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