This comes despite lower y-o-y office revenue in 2Q, which was due to transitory downtime from replacement leases that were signed earlier, of which a majority were larger floor plates.
SINGAPORE (July 26): CGS-CIMB Research and DBS Vickers Securities are maintaining their “add” and “buy” calls with the respective price targets of $2.08 and $2.30, after the REIT manager on Wednesday posted a 2Q DPU of 2.47 cents which came in line with both research houses’
In a Wednesday report, CGS-CIMB analyst Lock Mun Yee says she continues to like the stock as it continues to see robust office leasing interest, which is evident from the 187,000 sq ft of leases which it signed in 2Q with tenants in technology, media and telecom (TMT) as well as real estate, co-working and consultancy sectors.
