DBS expects ART to be the prime beneficiary among hospitality REITs to ride on the coming of warm weather in the northern hemisphere that should see a corresponding easing of domestic and possibly regional movement restrictions.
DBS Group Research has added Ascott Residence Trust (ART), Far East Hospitality Trust (FEHT) and CapitaLand as its equity picks for Singapore on the back of recovery prospects post-Covid-19.
In a research note dated March 17, DBS highlights that the Straits Times Index (STI) has risen is up 9.2% year-to-date, buoyed by a rising yield environment that boosted the banks as well as corporate developments by the Jardine Group.
