- OUE REIT (SGX:TS0U)'s gross revenue for FY24 grew by 3.7% y-o-y to S$295.5mil, in line with our forecast and achieving 99% of full-year estimates. Improvement driven by hospitality segment, where revenue surged by 8.9% y-o-y, while commercial premises delivered a stable performance, with revenue increasing by 1% y-o-y.
- - Read this at SGinvestors.io -
- OUE REIT's DPU for FY24 slipped by 1.4% y-o-y to 2.06 cents, outperforming our forecast by 12%, due to
- reduced capital retention (S$5mil in FY24 vs S$8mil in FY23) and
- an additional S$5mil capital top-up from the 50% divestment of OUE Bayfront.
- - Read this at SGinvestors.io -
- OUE REIT's share price is currently trading at an FY25e dividend yield of 6.3% and offers an attractive valuation at 0.52x P/NAV. A well-absorbed office supply, healthy occupier expansionary demand, and continued recovery in travel are expected to support FY25e DPU.
The Positives
Robust rental reversion sustained.
- 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/.
Liu Miao Miao Phillip Securities Research | Paul Chew Phillip Securities Research | https://www.poems.com.sg/ 2025-01-27
Previous report by Phillip:
2024-10-25 OUE REIT - DPU Supported By Resilient Rental Reversion.
Price targets by 2 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
