The Business Times
business-time-50
SUBSCRIBERS

Brokers’ take: Analysts see resurgent fountain of wealth in Suntec Reit

google-preferred-sourceAdd BT as a preferred source
Sharanya Pillai

Sharanya Pillai

Published Thu, Jul 28, 2022 · 11:56 AM
    • Suntec Reit posted a 15.8 per cent increase in DPU to S$0.0481 for H1 FY2022. Amidst recovery in office occupancy, it enjoyed positive rental reversions of 5.5 per cent for its office portfolio.
    • Suntec Reit posted a 15.8 per cent increase in DPU to S$0.0481 for H1 FY2022. Amidst recovery in office occupancy, it enjoyed positive rental reversions of 5.5 per cent for its office portfolio. PHOTO: SAVILLS SINGAPORE

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    OPTIMISM about Suntec Reit ’s office portfolio, as well as recovery in the retail and convention segments, has prompted at least 1 broker to upgrade its call on the counter. Most of the other analysts who cover the stock also see better prospects for the sectors in which Suntec Reit operates, although several have flagged its high leverage.

    CGS-CIMB on Wednesday (Jul 27) elevated its call on Suntec Reit from “hold” to “add”, while maintaining its target price at S$1.79.

    The research house had in fact lowered its distribution per unit (DPU) estimates for FY2022 to FY2024, to factor in slightly higher interest costs and Suntec Reit’s guidance for higher utilities costs in FY2023.

    Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.

    Suntec ReitBrokers' Take

    Copyright SPH Media. All rights reserved.

    Reuse this contentFeedback

    TRENDING NOW

    At MHA, Pang led the ministry’s efforts to deal with security threats such as foreign interference and scams, and its responses in critical and sensitive operations. 

    Ministry of Home Affairs Permanent Secretary Pang Kin Keong to retire

    Andrew Lee, chairman of OCBC (right), and group chief executive Tan Teck Long speaking at Thursday's (Apr 16) AGM.

    Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman

    Eu Yan Sang group chairman Richard Eu has been with the company since 1989 and has seen plenty of change over the years, such as how employees view their jobs.

    Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant

    US President Donald Trump (left) with Chinese President Xi Jinping at a bilateral meeting on the sidelines of the Apec summit in Busan last October.

    China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More