Stock With Momentum: AmanahRaya Real Estate Investment Trust

This article first appeared in The Edge Financial Daily, on September 4, 2018.
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AmanahRaya Real Estate Investment Trust (REIT) (+ve)
Trading of shares in AmanahRaya Real Estate Investment Trust (REIT) (fundamental: 0.15/3, valuation: 1.7/3) triggered our momentum algorithm yesterday for the first time this year. The REIT settled 0.5 sen or 0.58% higher at 86 sen, with a market capitalisation of RM492.97 million.

The counter saw 509,700 shares change hands, compared with its 200-day average volume of 56,764 shares.

AmanahRaya REIT’s net rental income jumped to RM79.5 million in second quarter ended June 30, 2018 from RM8.06 million a year ago. AmanahRaya REIT said the increase was mainly contributed by the acquisition of Vista Tower, a fair value gain of RM3 million raised from the disposal of Silver Bird, and an increase in fair value of its investment properties (unrealised gain) amounting to RM67.14 million.

AmanahRaya REIT said its gross rental grew 55.6% to RM23.54 million, from RM15.13 million in the same quarter a year ago.