They highlighted that the REIT’s PBWAs are well-located near construction workplaces in Singapore while its PBSA properties are situated within proximity to university campuses.
Lock Mun Yee and Li Jialin of CGS International has initiated coverage of Centurion Accommodation REIT (SGX:8C8U
) with an “add” call and $1.38 target price.
In their Jan 21 report, both Lock and Li points out that the REIT’s portfolio stands at $2.1 billion as of January, following the acquisition of Epiisod Macquarie Park (EMP) student accommodation (PBSA), with 64% of the portfolio comprising Singapore workers dormitories (PBWA) and the remaining 36% in both UK and Australia PBSA.
