RHB cautious on office and hospitality Reits
It cites unfavourable supply-demand dynamics in these two Reit sub-sectors
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Singapore
RHB has downgraded the real estate investment trust (Reit) sector to "underweight", joining the likes of Maybank Kim Eng which has a similar rating, and other houses which recently reported pessimistic outlook on the traditionally resilient sector.
RHB is especially bearish on the office and hospitality sub-sectors. On Wednesday, it downgraded CapitaLand Commercial Trust, Keppel Reit and Suntec Reit to "sell" from "neutral" with lower target prices.
