บทวิเคราะห์ (Research)

(EN) CPNREIT : Earnings preview - Operations on track We estimate core profit at Bt519m for 3Q24, falling 10% yoy but rising 17% qoq. Net profit should come in at Bt1b, falling 20% yoy but reversing from Bt348m net loss in 2Q24. Operations were stable with occupancy rate edging-down 2% yoy and 1% qoq but the impact should be offset by higher rents. We expect Bt0.26 DPU for 3Q24, implying 2.1% yield. We project better results qoq in 4Q and in 2H25 and beyond. IRR is attractive at 5.3%. Maintain Trading BUY rating.