Quick takes from around the market
• RL Commercial REIT [RCR 7.00 1.41%] [link] declared a P0.0965/share Q1 cash dividend, payable on May 31 to shareholders of record as of May 26. This dividend is 4.9% larger than RCR’s Q4/21 dividend, and once annualized, increases RCR’s estimated annualized yield to 5.51% relative to yesterday’s closing price (up from 5.26%). The REIT sector has been hammered, but it’s been producing.
• Monde Nissin [MONDE 13.34 0.45%] [link] Q1 net income was down 13.5% y/y. Gross margin improved q/q, but was down 35% y/y due to higher input costs. EBITDA fell 9.9% y/y. These are not good outcomes, and the headwind caused by increased input costs does not look like it’s going away any time soon.
• IPO Carnage: All 5 of the last IPOs are now trading below their IPO offer prices. Thanks to the downturn, even relatively strong IPOs like Bank of Commerce [BNCOM 11.92 1.53%] and Citicore Energy REIT [CREIT 2.46 1.20%] are marginally lower. CTS Global [CTS 0.95] dipped below the mysteriously-defended P1.00/share level, and stayed there for a day (so far). Haus Talk [HTI 1.04 2.80%] and Figaro [FCG 0.50] are still down considerably, but these circumstances don’t make their plight any easier to handle for bagholders.
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Merkado Barkada's opinions are provided for informational purposes only, and should not be considered a recommendation to buy or sell any particular stock. These daily articles are not updated with new information, so each investor must do his or her own due diligence before trading, as the facts and figures in each particular article may have changed.
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