Looking at the trust’s latest 3QFY2022/9MFY2022 ended September update, net property income was $19.7 million in 3QFY2022 (+7.8%) and $57.2 million in 9MFY2022 (+4.9%), both of which was in line with the analysts’ estimates, as it formed 26.5% and 76.8% of their FY2022 estimates respectively.
CGS-CIMB Research is reiterating its “add” recommendation on Far East Hospitality Trust (FEHT) but with a lowered target price of 73 cents from 80 cents previously, as analysts Lock Mun Yee and Natalie Ong factor in higher risk-free rates amid a rising interest rate environment.
Nonetheless, Lock and Ong have also kept FEHT its top pick within the hospitality sector.
