This comes after the REIT manager on Monday posted a 1Q18 DPU of 1.324 cents, down 11.1% on-year from a DPU of 1.489 previously on lower revenue, which was in line with OCBC estimates at 25.9% of the research house’s initial full-year forecast.
SINGAPORE (Apr 18): OCBC Investment Research is maintaining its “buy” call on Soilbuild Business Space REIT (SB REIT) with a higher fair value estimate of 71 cents compared to 70 cents previously.
On the contrary, Jefferies has downgraded its call on the REIT from “buy” to “hold” with an unchanged target price of 70 cents after lowering FY18 and FY19 DPU estimates for SB REIT by 1.6% and 3.9%, respectively, to account for lower contributions from multi-tenanted properties.
