Following the release of SPH REIT’s 1HFY2021 ended February results, analysts from Maybank Kim Eng and OCBC Investment Research have maintained their ‘hold’ ratings on SPH with unchanged target prices of 80 cents and 88 cents respectively.

The REIT reported a distribution per unit (DPU) of 1.24 cents for the 2QFY2021, bringing the REIT’s 1HFY2021 DPU to 2.44 cents, in line with both brokerages’ expectations.

Maybank Kim Eng analyst Chua Su Tye says that the REIT’s Australian properties boosted its performance, with 1HFY2021 revenue from its Australian portfolio up 68.2% y-o-y driven largely by Westfield Marion in Adelaide, which it acquired in December 2019.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook