Investor Relations

[2024.04.12] Puts shareholder returns at forefront - SAMSUNG SECURITIES

2024.04.12

- SK REIT announced two a shareholder return policy with two key provisions: 1) the

  disposal of two gas stations and distribution of gains to shareholders; and 2) share

  buybacks.

- We see dividend upside for the REIT given that it should be able to: 1) refinance a

  loan due to mature in July at a lower interest rate than it previously assumed; and 2)

  raise rental fees at underlying asset Jongno Tower in September.

- SK REIT’s shares pulled back following the incorporation of a water treatment facility

  in Sep 2023—though we find the correction to be excessive. Now is the time to focus

  on the positive effects of the REIT’s improving fundamentals.

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