Stock With Momentum: AmanahRaya Real Estate Investment Trust

This article first appeared in The Edge Financial Daily, on June 22, 2017.
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Stock With Momentum: AmanahRaya Real Estate Investment Trust (+ve)

SHARES in AmanahRaya Real Estate Investment Trust (ARREIT) (fundamental: 0.7/3, valuation: 1.7/3), which triggered our momentum algorithm yesterday for the first time this year, settled 0.5 sen or 0.52% higher at 96 sen.

It saw 830,000 shares changing hands, compared with its 200-day average volume of 136,036 shares.

The company’s portfolio of properties comprises those from the retail, industrial, hospitality (hotels), education and office sectors. It currently has 10 properties in its portfolio.

On April 18, it said was looking to buy an office tower in Kuala Lumpur valued at around RM350 million to RM370 million, and was negotiating terms with the party concerned.

It hoped to conclude the deal by the second quarter of 2017 and complete the acquisition by year end.

At the current share price, ARREIT is trading at 0.81 times its book value.