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DBS downgrades Sabana REIT to 'hold' on valuations

Felicia Tan
Felicia Tan1/21/2022 1:57 PM GMT+08  • 3 min read
DBS downgrades Sabana REIT to 'hold' on valuations
The brokerage has kept its target price on the REIT at 48 cents.
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DBS Group Research has downgraded its recommendation on Sabana REIT from “buy” to “hold” after the REIT delivered a “strong set” of results for the FY2021 ended Dec 31, 2021, on Jan 20.

The REIT’s distribution per unit (DPU) for the FY2021 increased 10.5% y-o-y to 3.05 cents, in part due to the lower base in FY2020.

During the year, Sabana REIT also reported an improved portfolio occupancy, which was mainly attributable to its multi-tenanted buildings.

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