Singapore REITs - UOB Kay Hian 2024-11-21: Steady 3Q24 But Battered By Macro Headwinds

• Many blue-chip S-REITs share prices are trading at attractive yields of 6-7% after the recent correction. Maintain OVERWEIGHT on S-REITs.
• Top S-REIT picks are:
  • - Read this at SGinvestors.io -
  • Frasers Centrepoint Trust (Target price: S$2.79),
  • Lendlease REIT (Target price: S$0.77) and
  • Mapletree Industrial Trust (Target price: S$3.05).

Majority met expectations for 3Q24.

• - Read this at SGinvestors.io -
• Keppel DC REIT (SGX:AJBU) (positive reversion of >40% for a major colocation contract in Singapore) and
• Far East Hospitality Trust (SGX:Q5T) (benefitting from a surge in Chinese tourists).

Data centre REITs: Positive surprise from hefty positive rental reversion.

• Read more at SGinvestors.io.

Jonathan KOH CFA UOB Kay Hian Research | https://research.uobkayhian.com/ 2024-11-21 SGinvestors.io

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