Time to take profit on Hutchison Port Holdings Trust, says OCBC

SINGAPORE (July 20): OCBC Investment Research is downgrading its rating on Hutchison Port Holdings Trust (HPHT) to “sell” from “hold” with an unchanged fair value of 42 US cents (57 cents) on the belief that it is time for investors to take profit on the container port business trust.

HPHT on Wednesday declared a 1H distribution per unit (DPU) of 9.5 HK cents (1.66 cents), down 32% from a year ago, which was in line with the research house’s expectations.