- 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 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 | http://www.poems.com.sg/ 2024-10-29
Previous report by Phillip:
2024-07-29 Suntec REIT - Resilient Singapore Assets & Improving Overseas Outlook.
Price targets by 4 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 Dividends & Corporate Actions,
Suntec REIT News Articles
