Stocks to watch: OUE C-Reit, AA Reit, Great Eastern, Aztech, LHN

THE following companies saw new developments that may affect trading of their securities on Friday (May 5):

OUE Commercial real estate investment trust (OUE C-Reit): Its manager on Thursday announced a net property income of S$56.6 million for the first quarter of 2023, an 18 per cent increase from the same period last year. While revenue for the quarter was higher, steep interest rate hikes are expected to affect upcoming distributions for the full year. Units of OUE C-Reit rose 1.5 per cent or S$0.005 to close at S$0.33, before the news. 

Aims Apac Reit (AA Reit): The Reit posted an 11.3 per cent increase in its distribution per unit to S$0.05244 for the second half of FY2023. This came as gross revenue and net property income surged, buoyed by higher rental and recoveries from the Reit’s assets, along with full-year revenue contribution from the acquisition of Woolworths’ headquarters in Australia, said its manager on Friday. Units of AA Reit closed up S$0.03 or 2.2 per cent at S$1.39 before the news on Thursday.