While Natarajan remains “neutral” on CDLHT, his Jan 31 report represents yet another cut to his target price for the REIT, which has only fallen since September 2023.
RHB Bank Singapore analyst Vijay Natarajan has again trimmed his target price on CDL Hospitality Trusts (SGX:J85
) to 93 cents from $1 after the REIT’s results for FY2024 ended Dec 31, 2024 missed estimates.
In particular, the analyst notes a “larger-than-expected drop” in revenue per available room (RevPAR) for CDLHT’s Singapore assets in FY2024, and Singapore’s hospitality demand is set to ease in 1QFY2025 with a softer event pipeline.
