Brokers' take
Mapletree Greater China Commercial Trust | Buy Target price: S$1.11 Jan 31 price: S$0.955 DBS Group Research, Jan 31
WHILE MAGIC faces the challenge of a stronger Singapore dollar and higher property taxes at Gateway Plaza, we believe these factors are only speed humps in the near term.
As MAGIC cycles through these headwinds over the next few quarters, the strength of core asset Festival Walk (about 70 per cent of net property income (NPI) as well as the boost from the Sandhill acquisition will shine through. Moreover, MAGIC offers an attractive yield in excess of 7 per cent which we believe is high considering its portfolio of quality properties.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
UBS weighs synthetic risk transfer amid capital boost proposals
Oil settles higher on supply concerns in the Mid-East, economic woes subdue gains
S-Reits falter as investors weigh possibility of zero rate cuts in 2024
CapitaLand Investment posts total revenue of S$650 million for Q1
Europe: Stoxx 600 logs best day in three months as banks shine
US: Stocks rally after strong tech results