- Suntec REIT's 1H23 revenue rose 10.2% y-o-y driven by strong rental reversion of Singapore assets (+17.5% y-o-y for Suntec City Mall, +10.8% y-o-y for office portfolio). Revenue for Suntec Convection surged 95.2% y-o-y and is expected to be back to pre-COVID level in FY24e.
- - Read this at SGinvestors.io -
- We initiate coverage with a BUY recommendation on Suntec REIT with a DDM-based target price of S$1.47 and an annual dividend yield of 5.64% under the current Suntec REIT's share price.
- - Read this at SGinvestors.io -
About Suntec REIT
- Read more at SGinvestors.io.
Above is the excerpt from report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full report in PDF @ https://www.stocksbnb.com/.
Liu Miao Miao Phillip Securities Research | https://www.stocksbnb.com/ 2023-09-11
Read also Phillip's most recent report:
2024-04-26 Suntec REIT - Higher-for-longer Interest Rate Continue Eroding DPU.
Previous report by Phillip:
2024-01-25 Suntec REIT - Deeply Discounted Assets.
Price targets by other brokers at Suntec REIT Target Prices.
Listing of research reports at Suntec REIT Analyst Reports.
Relevant links:
Suntec REIT Share Price History,
Suntec REIT Announcements,
Suntec REIT Dividends & Corporate Actions,
Suntec REIT News Articles
