Far East Hospitality Trust - Phillip Securities 2024-07-31: RevPAR Continues Trending Up Despite Muted ADR Growth

• While the majority of REITs are still registering negative DPU growth, Far East Hospitality Trust managed to deliver a 2.2% rise to S$1.96 cents, which is at 47% of our FY24e. The positive growth is attributed to a 1% y-o-y uptick in NPI to S$49.5mil and an additional S$2.2mil of distribution from the divestment of Central Square, which still leaves S$15.8mil to buffer against interest rate uncertainties.
• - Read this at SGinvestors.io -
• We reiterate our BUY recommendation with a lower DDM-based Far East Hospitality Trust target price of S$0.75 (prev: S$0.79), and we reduced our FY24e/25e DPU forecasts by 4% to 4.19/4.29 cents.
• - Read this at SGinvestors.io -

The Positives

Recovery of occupancy rates to drive RevPAR growth.

• Read more at SGinvestors.io.

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:
2025-05-02 Far East Hospitality Trust - Lower Hospitality Contribution Due To High Base Effect.

Previous report by Phillip:
2025-02-13 Far East Hospitality Trust - RevPAR Growth Is Expected To Continue In FY25e.

Price targets by other brokers at Far East Hospitality Trust Target Prices.

Listing of research reports at Far East Hospitality Trust Analyst Reports.

Relevant links:
Far East Hospitality Trust Share Price History,
Far East Hospitality Trust Announcements,
Far East Hospitality Trust Dividend Payout Dates & Corporate Actions,
Far East Hospitality Trust News