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DBS stays bullish on Cromwell European REIT

Stanislaus Jude Chan
Stanislaus Jude Chan5/11/2018 04:35 PM GMT+08  • 2 min read
DBS stays bullish on Cromwell European REIT
SINGAPORE (May 11): DBS Group Research is keeping its “buy” call on Cromwell European Real Estate Investment Trust (CEREIT) with a slightly higher target price  of 66 Euro cents, up from 63 Euro cents previously.
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SINGAPORE (May 11): DBS Group Research is keeping its “buy” call on Cromwell European Real Estate Investment Trust (CEREIT) with a slightly higher target price of 66 Euro cents, up from 63 Euro cents previously.

“We continue to be bullish on [CEREIT’s] prospects, given expectations of rising rents on the back of an improving European economy as well as benefits from having inbuilt rental escalations in the majority of its leases,” says lead analyst Mervin Song in a Friday report.

The manager of CERT declared a DPU of 1.45 Euro cents (2.32 cents) from its listing on Nov 30 2017 to March 31, exceeding the IPO forecast by 3.5%.

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