In a Monday report, analyst Carmen Tay highlights SG REIT as a proxy to an anticipated uptrend in tourist arrivals and spending, as she forecasts steady dividends over FY19-20F with an attractive yield of 7%.
SINGAPORE (Dec 11): DBS Group Research is maintaining its “buy” on Starhill Global REIT (SG REIT) with an unchanged target price of 75 cents, which reflects more conservative discount rate assumptions due to a less-optimistic outlook of the trust’s retail portfolio in Singapore.
This is especially so for Wisma Atria, where DBS believes operating metrics have been soft although the bottom could be near, as recent material changes made to its trade mix on the ground floor could augur well for the mall.
