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OUE REIT - Phillip Securities 2024-07-28: Sound Operational Performance Dragged By Financing Cost

OUE REIT - Sound Operational Performance Dragged By Financing Cost

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OUE REIT (SGX:TS0U) | SGinvestors.ioOUE REIT (SGX:TS0U)
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  • Despite the sound operational performance, with NPI inching up by 1.6% y-o-y and forming 48% of our FY24e estimates, OUE REIT's DPU declined 11.4% y-o-y at 46% of our FY24e forecast, landing at S$0.93 cents. This weakness was attributed to the rising financing costs (+18.5% y-o-y), higher retention of earnings for working capital (+67% y-o-y to S$5mil), and the payment of 100% base management fees in cash (65% in 1H23).
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    • The Positives

    Rental reversion to support earnings.

    • 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/.



    Liu Miao Miao Phillip Securities Research | Paul Chew Phillip Securities | https://www.stocksbnb.com/ 2024-07-28


    Read also Phillip's most recent report:
    2025-04-28 OUE REIT - Resilient Rental Reversion From SG Office.

    Previous report by Phillip:
    2025-01-27 OUE REIT - De-risked Portfolio.

    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



    OUE REIT Share Price Performance vs The STI
    OUE REIT Share Price vs STI Performance

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