Soilbuild REIT saw its distribution per unit (DPU) fall 6.3% to 1.466 cents in the second quarter ended June. This was partly due to payment of property management and lease management fees in cash instead of units.
SINGAPORE (July 17): OCBC Investment Research is maintaining its “hold” recommendation on Soilbuild Business Space REIT with a fair value estimate of 67 cents on the back of significant headwinds facing the group’s multi-tenanted assets.
However, lead analyst Deborah Ong believes that the REIT will be buffered by the stability of contributions from its numerous master leased assets and the prospect of a bottoming market in the industrial space this year.
