In February, FTSE ST Real Estate Investment Trusts Index corrected 0.5%, underperforming compared to Straits Times Index’s 0.1% fall, Koh points out.
UOB Kay Hian analyst Jonathan Koh has kept his “overweight” rating on Singapore REITs (S-REITs), focusing on defensive names with resilient balance sheets.
In his Apr 4 report, Koh says he is cautiously optimistic that inflation would ease gradually in 1HFY2023, although the external environment remains uncertain with persisting geopolitical rivalries. “S-REITs would benefit from the easing of interest rates in 2024 in the event economic growth slows down or falters,” adds Koh.
