“Management has been prudent on capital management, keeping gearing below 40% and refraining from acquisitions. The stock is trading at attractive levels at 30% below book, while offering stable dividend yields of [more than] 7%,” he writes.
Starhill Global REIT (SGREIT) is “underappreciated” despite delivering “steady operational performance over the last five years” in a challenging environment, says RHB Bank Singapore analyst Vijay Natarajan.
The REIT remains “well-poised” to navigate an evolving retail landscape with a balanced mix of master leases and an actively managed portfolio, along with strong sponsor support, adds Natarajan in an April 1 note.
