- Suntec REIT (SGX:T82U)’s 2H23 gross revenue increased 6.6% y-o-y to S$238.4m but net property income (NPI) fell 1.8% y-o-y to S$159.8m due to higher maintenance fund contribution and commencement of sinking fund contribution in FY23. DPU declined by a larger magnitude of 10.2% y-o-y to S$0.03659 due to higher finance costs and lower finance income, but partially offset by a strong rebound in its convention business. See Suntec REIT's distribution dates.
FY23 DPU slumped ~20%
- - Read this at SGinvestors.io -
- - Read this at SGinvestors.io -
Continued robust rental reversions in Singapore & Australia; Occupancy fell for both its retail & office portfolios
- Operationally, Suntec REIT reported another round of robust rental reversions in Singapore (both retail and office) and Australia.
- Read more at SGinvestors.io.
Above is the excerpt from report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full report in PDF @ https://www.iocbc.com/.
OCBC Research Team OCBC Investment Research | https://www.iocbc.com/ 2024-01-25
Read also OCBC's most recent report:
2024-10-28 Suntec REIT - Balance Sheet Metrics Unlikely To Improve In Near Term.Previous report by OCBC:
2024-09-20 Suntec REIT - Not Getting Carried Away.Price targets by 5 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
