CDLHT reported gross revenue of $63.4 million for 1QFY2025, 2.8% lower y-o-y, due to lower revenue seen across all of its markets except for the UK and Japan. Net property income (NPI) fell by 14.2% y-o-y to $30 million with declines across CDLHT's geographies except for Japan and the UK.
CGS International Research analysts Lock Mun Yee and Li Jialin have slashed their target price on CDL Hospitality Trusts (SGX:J85
) (CDLHT) by more than 18% to 87 cents, citing headwinds for both its Singapore and overseas assets.
That said, Lock and Li are maintaining their "add" call on CDLHT in a May 2 note.
