OUE REIT - DBS Research 2024-07-26: Hospitality-led Recovery Gains Momentum

• OUE REIT (SGX:TS0U)'s operational performance was steady with revenues up 5.7% y-o-y to S$146.7mil and net property income rising by 1.6% y-o-y to S$117.1mil respectively. This was mainly due to stable returns from the REIT’s Singapore properties and better hotel performance.

1HFY24 DPU slightly below estimates.

• - Read this at SGinvestors.io -
• Boosting distributions was the release of S$5.0m of gains from the sale of a 50% stake in OUE Bayfront in 2024, of which S$2.5mil was paid in 1H24.

Financial metrics steady.

• - Read this at SGinvestors.io -
• Looking ahead, we believe with the stabilisation of interest rates coupled with EBIT growth from its hospitality and office assets in 2024, this ratio will likely stabilise.

Our view

Robust Singapore metrics; hotel outlook remains bright.

• Read more at SGinvestors.io.

Above is an excerpt from a report by DBS Group Research.
Clients of DBS may access the full PDF report @ https://www.dbs.com/insightsdirect/.

Read also DBS's most recent report:
2025-10-27 OUE REIT - Riding The Interest Rate Tailwinds.

Previous report by DBS:
2025-07-25 OUE REIT - Interest Savings Cushion Hilton’s Drag.

Price targets by 3 other brokers at OUE REIT Target Prices.

Listing of research reports at OUE REIT Analyst Reports.

Relevant links:
OUE REIT Share Price History,
OUE REIT Announcements,
OUE REIT Dividend Payout Dates & Corporate Actions,
OUE REIT News