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PhillipCapital and RHB reaffirms ‘buy’ recommendation on Elite UK REIT following recent site visit

Teo Zheng Long
Teo Zheng Long • 3 min read
PhillipCapital and RHB reaffirms ‘buy’ recommendation on Elite UK REIT following recent site visit
PhillipCapital analyst Hashim Osman highlighted that Elite UK REIT’s portfolio of 148 properties across the United Kingdom (UK) are predominantly led to the Department for Work and Pensions (DWP). Photo: Elite UK REIT
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PhillipCapital and RHB Bank Singapore analysts have kept their respective “buy” calls on Elite UK REIT following a recent site visit of the REIT's assets in London, Kent and Cardiff.

The REIT owns a portfolio of 148 properties across the United Kingdom (UK) are predominantly rented to the Department for Work and Pensions (DWP), which operates Jobcentre Plus, a government-funded employment agency and social security office, which aims to help people of working age find employment in the UK.

At the same time, DWP also administers claims for benefits such as income support, incapacity benefit, universal credit, jobseeker’s allowance, and employment support allowance.

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