CGS-CIMB downgrades SPH Reit to 'hold' as recovery likely priced in
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
CGS-CIMB has downgraded its call on SPH Reit to "hold" from "add" as it expects the real estate investment trust's (Reit) recovery is already priced in, the brokerage said on Friday (Apr 1).
The research team maintained its target price of S$0.95 on the counter. It noted that the market has likely priced in a recovery as SPH Reit currently trades with a distribution per unit (DPU) yield of around 5.4 per cent, which is near its 5-year average of 5.3 per cent.
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.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Ministry of Home Affairs Permanent Secretary Pang Kin Keong to retire
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
