SINGAPORE (Nov 30): RHB Research is starting coverage on APAC Realty at “buy” with a target price of $1.20 which is 15 times FY18 earnings or 15% lower than P/E of global peers.
In a Thursday report, analyst Vijay Natarajan notes that the stock offers an attractive 4.45% dividend yield for FY18, based on a management guided payout ratio of 50%.
Natarajan says APAC Realty as the “best proxy for investors looking to tap into the surging residential volumes in Singapore”.
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