Wednesday’s closing price is 11.9 percent higher than RCR’s initial public offering price of P6.45 per share.
Among the four other REITs listed on the exchange, RCR has the biggest portfolio and asset size, the widest geographical coverage, longest lAnd lease tenure and largest market capitalization at P71.8 billion.
RCR is poised to grow even bigger with the expected infusion of as much as 100,000 square meters of existing RLC office developments within the next 18 months.
Its portfolio currently comprises 14 high-quality commercial assets valued at P73.9 billion, spanning across 425,315 sqm of gross leasable area.
These assets are strategically located in nine cities across Luzon, Visayas, and Mindanao, including the major central business districts of Makati, BGC, Mandaluyong, Ortigas, and Quezon City.
Apart from this, RCR has access to RLC’s business process outsourcing (BPO) spaces located within its various commercial centers, as well as projects that are in various stages of construction.
From its office business portfolio alone, RLC’s potential pipeline for infusion to RCR could reach a total GLA of approximately 422,000 sqm over time.
RCR also continues to look for opportunities to acquire assets to further boost its stock performance and dividend yield.
RCR’s dividend yield forecast for 2022 is at 5.96 percent, one of the highest among REITs, calculated based on a 90% payout of the projected distributable income for next year.
SOURCE: Bilyonaryo
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