Published: Monday July 16, 2012 MYT 8:49:00 AM
Updated: Monday July 16, 2012 MYT 9:11:12 AM
RHB Research maintains Market Perform on Quill
KUALA LUMPUR: RHB Research Institute is maintaining its Market Perform on Quill Capita with a DDM-based fair value of RM1.29.
It said on Monday growth profile is unexciting as compared to its retail peers, as the expected entry of new supply into the office segment could have an adverse impact on future rental growth.
"However, we do note that QC continues to deliver decent gross dividend yield of around 7% (slightly above the current MREIT sector's average of 6.6%) and valuations continue to appear somewhat undemanding as QC currently trades at 0.9 times price/net asset value versus the MREIT sector average of about 1.07 times," it said.