“We see leasing strengthening in FY2023 with rising demand for office space and improving retail sentiment,” the analyst says in his April 21 report.
Maybank Group Research analyst Chua Su Tye has kept a “buy” rating on Mapletree Commercial Trust (MCT) with an unchanged target price of $2.35.
The REIT’s distribution per unit (DPU) for the 2HFY2022 ended March stood in line with Chua’s estimates, as well as the estimates of the street. During the period, MCT’s DPU rose 6% h-o-h or approximately 17% h-o-h if including capital distributions, with growth underpinned by higher occupancy and positive rental reversions.
