With Singapore Tourism Board (STB) expecting inbound arrivals to trend higher in 2HFY2022 ended June, Tan and Wong expect the REIT to benefit from a return in tourist footfall and spending in the coming quarters.
DBS Group Research analysts Geraldine Wong and Derek Tan have kept a “buy” rating on Starhill Global REIT with an unchanged target price of 75 cents.
“Starhill Global REIT stands out as one of the prime beneficiaries of a return of tourists,” write the analysts, seeing how the REIT’s tenant sales surged 5% above pre-Covid-19 levels in the latest quarter ended June.
