Maybank’s top “buy” picks remain A-REIT, CDL Hospitality Trusts (CDL HT) and Frasers Centrepoint Trust (FCT) with the respective target prices of $3.10, $1.85 and $2.60.
SINGAPORE (April 4): Maybank Kim Eng is remaining “positive” on the Singapore REIT (S-REITs) sector on expectations of continued outperformance, while highlighting Ascendas REIT (A-REIT) as the best proxy to overall recovery across S-REITs.
The research house has adjusted its FY19-21 distribution per unit (DPU) estimates by between -2% and +4%. It is also raising its target prices by 2-9% after adjusting for interest rate assumptions, although operating estimates remain mostly unchanged ahead of S-REITs’ results reporting over the coming weeks.
