ART, FEHT downgraded to 'hold' by OCBC; hospitality sector grapples with weak RevPAR

SINGAPORE (Apr 16): OCBC Investment Research has downgraded its recommendations for both Ascott Residence Trust (ART) and Far East Hospitality Trust (FEHT) to “hold” from “buy”, after a strong rally so far this year for the two hospitality REITs.

“ART and FEHT have inched up toward our fair value,” says lead analyst Deborah Ong in a Monday report. “As our fair values for each remain the same, we are downgrading both ART and FEHT today.”