CGS-CIMB remains positive on ART and CDLHT on gradual resumption of travelling activities

Despite a mixed bag of performances by Ascott Residence Trust (ART) and CDL Hospitality Trusts (CDLHT) for the 1QFY2021, CGS-CIMB Research analysts Eing Kar Mei and Lock Mun Yee have maintained “overweight” on the Singapore REITs sector.

The analysts have also kept their “add” calls on ART and CDLHT with target prices of $1.20 and $1.43 respectively.

That said, Eing and Lock have indicated their preference for ART given its larger exposure to countries with strong domestic demand and lower rates of infection.