- Suntec REIT (SGX:T82U)'s 1H23 results were below expectations due to higher-than-expected operating and interest costs. Operational performance continued to demonstrate resilience with high occupancy rates and healthy rent reversions, but these are expected to moderate in the coming quarters.
- - Read this at SGinvestors.io -
1H operational DPU down 30% y-o-y
- Suntec REIT's 1H23 operational DPU is down 30% y-o-y due to higher financing costs, FX impact, and higher operating expenses. See Suntec REIT's dividend date. The REIT continued with a capital top-up of S$11.5m for 1H, and has a S$11.5m balance top-up from past gains, which is expected to be distributed in 2H.
- - Read this at SGinvestors.io -
- While no revaluations were done in 1H, based on its peer Keppel REIT’s (KREIT SP, BUY, Target price: S$1.08) results and the REIT manager’s guidance, overall valuations are expected to remain stable and unlikely to see a large decline of more than 3%.
Evaluating more divestment options.
- Read more at SGinvestors.io.
