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

Suntec REIT - The Discounted Gem

Suntec REIT (SGX:T82U) | SGinvestors.ioSuntec REIT (SGX:T82U)
  • 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 the excerpt from report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full report in PDF @

Liu Miao Miao Phillip Securities Research | 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 3 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


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