Analysts from CGS-CIMB Research, Maybank Kim Eng and OCBC Investment Research (OIR) have all given “buy” or “add” calls on Far East Hospitality Trust (FEHT) with target prices of 63.9 cents, 70 cents and 66 cents respectively. 

The REIT reported distribution per unit (DPU) stood 36.7% lower y-o-y at 2.41 cents for the FY2020, which came relatively in line with expectations at CGS-CIMB and OCBC.

The REIT also saw lower gross revenue and net property income (NPI) dropping 34.8% and 38.0% y-o-y to $39 million and $33.6 million respectively for the 2HFY2020 mainly due to lower master lease rental income and rental rebates given to commercial tenants. 

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