In a Tuesday report, analyst Mervin Song says the trust’s 0.1% increase y-o-y in 1Q18 DPU of 1.85 cents was in line with expectations, although 1Q18 was hit by higher property taxes at Festival Walk, which was absent in 1Q17. Stripping out the tax impact, 1Q18 DPU would have been up around 2-3% y-o-y.
SINGAPORE (Aug 1): DBS Vickers is maintaining its “buy” call on Mapletree Greater China Commercial Trust (MAGIC) with a target price of $1.25.
This is due to MAGIC’s attractive valuations that offer a prospective FY18 yield of 6.7%, which is the highest among large-cap REITs.
