{"id":331978,"date":"2025-03-26T01:40:44","date_gmt":"2025-03-25T17:40:44","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=331978"},"modified":"2025-03-26T01:40:46","modified_gmt":"2025-03-25T17:40:46","slug":"stock-in-focus-citicore-energy-reit-corp-creit-26-march-2025-by-regina-capital-development-corp","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/stock-in-focus-citicore-energy-reit-corp-creit-26-march-2025-by-regina-capital-development-corp\/","title":{"rendered":"Stock in Focus: Citicore Energy REIT Corp. (CREIT) – 26 March 2025 by Regina Capital Development Corp."},"content":{"rendered":"\n

Summary of Broker’s Recommendation<\/h2>\n\n\n\n
Stock Code<\/strong><\/td>CREIT<\/td><\/tr>
Company Name<\/strong><\/td>Citicore Energy REIT Corp.<\/td><\/tr>
Broker<\/strong><\/td>Regina Capital Development Corp.<\/td><\/tr>
Opinion Issued on<\/strong><\/td>26 March 2025<\/td><\/tr>
Recommendation<\/strong><\/td>Buy<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 3.43<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
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We maintain our BUY recommendation towards CREIT with a Target price of P3.43\/share.<\/p>\n\n\n\n

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Analysis and Opinion<\/h2>\n\n\n\n

As of 9-months (9M) 2024, Citicore Energy REIT Corporation (CREIT) recorded a +2% year-on-year (y\/y) growth in Net Income to P1.04 billion, driven primarily by a full take up of incremental revenues from acquired assets in 2023, consisting of properties in Batangas, Pangasinan and Pampanga. Revenues also increased by +5% y\/y to P1.38 billion, due to the use of proceeds from its green bond offering last Feb 10, 2023, which had a full period impact last 2024. The newly acquired land was leased out to new projects.<\/p>\n\n\n\n

To date, CREIT has 14 leasable assets, with a total leasable area of 7.1mn sqm. The firm boasts 100% portfolio occupancy, and the longest WALE among its comparable peers, amounting to 20.69 years. Bilateral contracts take up 75% of total contracted capacity, with FIT program taking up 25%. <\/p>\n\n\n\n

CREC has over 5GW of project pipeline with varying stages of development, and project construction for Batangas, Pangasinan and Pampanga in full swing. Leased properties consist of solar power plants with a total installed capacity of 145.0 MWdc, and 184 GWh annual net generation. Their aggregate appraised value amounts to around P20bn as of end-Sept 2024.<\/p>\n\n\n\n

Despite increasing concerns surrounding Trump\u2019s proposed tariff policies on Canada, Mexico, and China, the Philippines\u2019 economy appears to be generally insulated as 75% of the economy is domestic-driven, with a consumer-heavy GDP. <\/p>\n\n\n\n

Due to the government\u2019s recent push to focus on renewable energy programs, alongside reduced panel costs and shifting supply chain dynamics, US tariffs may have a less pronounced impact on CREIT. Feb\u2019s recent inflation rate also came out as better than expected, which may drive further investor confidence.<\/p>\n\n\n\n

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Check how many brokers recommend this stock<\/h2>\n\n\n\n
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All Stock Rankings<\/a><\/blockquote>