Far East Hospitality Trust - CGS-CIMB Research 2022-04-28: Operations Continue To Improve

Far East Hospitality Trust - Operations Continue To Improve

FAR EAST HOSPITALITY TRUST (SGX:Q5T) | SGinvestors.ioFAR EAST HOSPITALITY TRUST (SGX:Q5T)
  • Far East Hospitality Trust (SGX:Q5T)'s 1Q22 income available for distribution grew 17.2% y-o-y, slightly above expectations at 28% of our FY22F forecast, thanks to lower interest expense following the completion of the divestment of Village Residences Clarke Quay (VRCQ)
  • 1Q22 RevPAR/RevPAU increased y-o-y on higher rates and occupancy.
  • We adjust up our FY22-24F DPU estimates for Far East Hospitality Trust by 4.7-5.8% on lower interest expense due to lower debt level. Consequently, our DDM-based target price for Far East Hospitality Trust (SGX:Q5T) is raised to S$0.78.
  • We believe Far East Hospitality Trust will continue to benefit from the expected increase in tourist arrivals following Singapore‚Äôs relaxation of border restrictions.



Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.



LOCK Mun Yee CGS-CIMB Research | https://www.cgs-cimb.com 2022-04-28
SGX Stock Analyst Report ADD MAINTAIN ADD 0.78 UP 0.746




Previous report by CGS-CIMB:
2022-02-15 Far East Hospitality Trust - A Better 2022F

Target prices by 3 other brokers at Far East Hospitality Trust Target Prices.
Listing of broker reports at Far East Hospitality Trust Analyst Report.

Relevant links:
Far East Hospitality Trust Share Price History,
Far East Hospitality Trust Announcements,
Far East Hospitality Trust Dividends & Corp Actions,
Far East Hospitality Trust News Articles





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