Suntec REIT - Phillip Securities 2023-09-11: The Discounted Gem

• 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.
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• 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.
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About Suntec REIT

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Above is an excerpt from a report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full PDF report @ https://www.stocksbnb.com/.

Read also Phillip's most recent report:
2025-02-10 Suntec REIT - Resilient Singapore Performance Sustained.

Previous report by Phillip:
2024-10-29 Suntec REIT - Overseas Performance Subdued.

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 Dividend Payout Dates & Corporate Actions,
Suntec REIT News