Brokers' take

SPH Reit | Hold Target price: S$1.02 Dec 20 close: S$1.01 Maybank Kim Eng, Dec 19

SPH Reit has announced its first overseas acquisition: an 85 per cent interest in Figtree Grove shopping centre in New South Wales Australia for A$188.2 million (S$188.2 million).

SPH Reit's acquisition cost includes a stamp duty (A$9.6 million), acquisition fee (A$1.8 million) and professional expenses (A$1.7 million), with a 12-month rental guarantee capped at A$0.8 million. To be fully debt-funded, …