- 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 the excerpt from report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full report in PDF @ https://www.stocksbnb.com/.
Liu Miao Miao Phillip Securities Research | https://www.stocksbnb.com/ 2024-07-31
Previous report by Phillip:
2024-05-02 Far East Hospitality Trust - Higher RevPAR By Ramping Up Occupancy.
Price targets by 2 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 Dividends & Corporate Actions,
Far East Hospitality Trust News Articles
