Suntec REIT - OCBC Investment 2024-10-28: Balance Sheet Metrics Unlikely To Improve In Near Term

• Suntec REIT’s 3Q24 business update reflected another quarter of divergence between its mostly solid operational trends and weak DPU performance due largely to borrowing cost pressures.

3Q24 DPU slipped 11.9% y-o-y to 1.58 Singapore cents and met our expectations

• - Read this at SGinvestors.io -
• Its joint venture income rose 5.0% to S$25.0m but overall DPU fell 11.9% y-o-y to 1.58 Singapore cents. This was due to higher borrowing costs and absence of capital distributions which amounted to 0.198 Singapore cents in 3Q23.
• - Read this at SGinvestors.io -

Robust rental reversions and improved occupancy for both office and retail portfolios

• Read more at SGinvestors.io.

Above is an excerpt from a report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full PDF report @ https://www.iocbc.com/.

Read also OCBC's most recent report:
2025-02-11 Suntec REIT - Negative Tax Impact.

Price targets by 2 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 Dividend Payout Dates & Corporate Actions,
Suntec REIT News