SINGAPORE (Oct 10): SPH REIT put in another resilient performance in the fourth quarter despite a muted retail environment. But analysts say the REIT could get an earnings boost from a possible acquisition.
“The Seletar Mall acquisition is around the corner,” says DBS Group Research lead analyst Derek Tan in a Tuesday report. He expects SPH REIT to complete the acquisition of The Seletar Mall from its sponsor in 2019.
As such, the brokerage is keeping its “buy” recommendation on SPH REIT, with a higher target price of $1.07, raised from $1.04 previously.