- OUE REIT (SGX:TS0U) reported FY25 DPU of S$2.23 cents, up +8.3% y-o-y. The strong growth was underpinned by a 17.6% y-o-y saving in finance expense and resilient rental reversion.
- - Read this at SGinvestors.io -
Hospitality segment bottomed out
- FY25 revenue and NPI came in at S$273.6m and S$219.6m, up 0.1% and +1.6% y-o-y, respectively, on a like-for-like basis, led by strong office rental reversion of 9.1% and retail of 12.4%. Share of results from JV rose 49.3% y-o-y to S$14.5m. Portfolio valuation eased 1.2% y-o-y, dragged by hospitality segment (Hilton: -3.5% y-o-y).
- Mandarin Gallery suffered a 1.7ppt y-o-y drop in occupancy, leading to a 2.9% y-o-y valuation decline. Management is in active discussions with tenants for large leases due for renewal in FY26E (~19% of gross rental income), with retention demand indicated to be strong, although additional capex cannot be ruled out. We expect mid-single digit rental reversion for office and high-single digit for retail in FY26E.
- - Read this at SGinvestors.io -
Balance sheet position strengthened
- Read more at SGinvestors.io.
Above is an excerpt from a report by Maybank Research.
Clients of Maybank Securities may be the first to access the full PDF report @ https://www.maybanktrade.com.sg/.
Liu Miaomiao Maybank Research | https://www.maybanktrade.com.sg/ 2026-01-28
Read also Maybank's most recent report:
2026-04-22 OUE REIT - Resilient Start; Building Growth.
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
