Analysts are generally positive on Suntec REIT with strong FY2021 results led by newly acquired and completed assets. With the exception of Maybank Securities’ “hold” recommendation, analysts from DBS Group Research and RHB Group Research have kept their “buy” calls on the REIT.
Suntec REIT, on Jan 26, reported a distribution per unit (DPU) of 4.512 cents for the 2HFY2021 ended December, up 9.8% y-o-y. The higher DPU was helped by contributions from its new UK properties and higher income from Suntec City mall.
In addition to his “buy” rating, RHB analyst Vijay Natarajan has given the REIT a higher target price of $1.77 from $1.72.