“This [surprising] strength implies that investors are willing to ‘look beyond the operational hump’ and towards a recovery, which is likely to be immediate if Singapore can swiftly contain the community spread by the middle of June 2021,” write Wong and Tan.
DBS Group Research analysts Geraldine Wong and Derek Tan have identified Frasers Centrepoint Trust (FCT) and Lendlease Global Commercial REIT (LREIT) as their top picks among the retail-focused Singapore REITs.
The report, dated May 19, comes as share prices of retail-focused S-REITs have recovered from the initial share price weakness of up to -5% when the government announced the tightening of measures to contain the spread of community Covid-19 cases.
