OUE REIT - OCBC Investment Research 2025-01-24: Spring Cleaning Ahead Of The New Year

• OUE REIT (SGX:TS0U) reported a stable set of results, in-line with our expectations. Revenue and net property income (NPI) was +1.7% and -2.3% y-o-y to S$148.8m and S$116.9m, respectively.
• - Read this at SGinvestors.io -

Rental reversions and RevPAR growth began to taper off

• Good rental reversions and revenue per room (RevPar) growth for the year across OUE REIT's assets, coming in at +10.7%/9.2%/19.8% for office/hospitality/retail, respectively. In our previous update, we noted that growth in these sectors in Singapore could moderate.
• Consequently, rental reversions and RevPAR growth for OUE REIT began to taper off in 4Q24. Nevertheless, these results remain healthy, and management anticipates mid-single-digit rental reversion in the near to medium term.

Slight decline of 1.4% y-o-y in FY24 DPU but above our forecast due to higher payout

• - Read this at SGinvestors.io -

Successfully divested out of China, which could be immediately accretive if proceeds are used to pare down debt

• 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:
2025-04-25 OUE REIT - A Tale Of Two Cities.

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