Suntec REIT - RHB Invest 2023-10-24: Lacking Catalysts

• Suntec REIT (SGX:T82U)’s 3Q23 results are in line. Its Singapore operations continues to perform well, with improvement seen across all three segments, but the outlook for overseas assets has dimmed.
• - Read this at SGinvestors.io -

3Q operational DPU rose by 4% q-o-q

• Suntec REIT's 3Q23 operational DPU rose by 4% q-o-q (-15% y-o-y), aided by higher contributions from Suntec City’s office, mall and convention segments. The y-o-y decline was mainly due to sharply higher financing costs and a weaker AUD. Including a S$5.8m capital top-up, DPU rose 2% q-o-q (-14% y-o-y).
• - Read this at SGinvestors.io -
• For 3Q, the convention segment was a star performer, with NPI more than doubling vs1H23 and 3Q22 levels.

Singapore office and retail continues to shine...

• Read more at SGinvestors.io.

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

Read also RHB's most recent report:
2025-01-27 Suntec REIT - Backstop In Place; Keep BUY.

Previous report by RHB:
2024-10-28 Suntec REIT - Steadily Improving; BUY.

Price targets by 2 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