Suntec REIT - Phillip Securities 2024-10-29: Overseas Performance Subdued

• Suntec REIT's gross revenue for 3Q24 is in line with expectations, sliding by 4.6% y-o-y to S$117.7mil. 9M24 revenue forms 74% of our FY24e estimates, and the decline was due to lower contributions from the Suntec Convention and overseas properties.
• - Read this at SGinvestors.io -
• Rental reversion in Singapore was healthy, with office achieved at 10.8% and retail at 20.9%. Overseas assets were the main drag to the portfolio, with a 20.5% y-o-y drop in NPI for the UK and a 10.9% y-o-y decrease for Australia in 3Q24 due to increasing vacancy.
• - Read this at SGinvestors.io -

The Positives

Singapore rental reversion holds well.

• 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:
2025-02-10 Suntec REIT - Resilient Singapore Performance Sustained.

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