“Cromwell European REIT’s indicative 1QFY2024 DPU came in slightly below on a timing mismatch from divestment income losses and contributions from redevelopment projects,” notes Natarajan in his May 2 report.
Analysts from CGS International, RHB Bank Singapore and PhillipCapital have kept their “add” and “buy” calls on Cromwell European REIT after its results for the 1QFY2024 ended March 31.
However, CGS International analysts Natalie Ong and Lock Mun Yee, as well as RHB analyst Vijay Natarajan have lowered their target prices after the REIT’s 1QFY2024 distribution per unit (DPU), which fell by 10.2% y-o-y to 3.505 Euro cents (5.1 cents), missed their expectations.
