CGS-CIMB and DBS Group Research have maintained their respective “hold” calls on SPH Reit while noting improved operating metrics and tenant sentiment as well as recovering portfolio reversions.

This comes after the real estate investment trust (Reit) reported a 2.2 per cent rise in distribution per unit (DPU) for the 12 months ended August 2022, boosted by increased footfall and subsequent tenant sales recovery at its Singapore assets.