Natarajan notes that the REIT’s Singapore assets have rebounded nicely, with stronger rent growth seen for both its retail asset and office assets since the start of the year.
RHB Group Research has upgraded its call on Starhill Global REIT (SGREIT) to “buy”, with a new target price of 56 cents from 55 cents previously, on the backing of more resilient operating metrics for its Singapore portfolios, and a “healthy financial position”.
Analyst Vijay Natarajan says that the REIT’s 2HFY2022/2023 ended June 30 results were slightly ahead of his expectations.
