SINGAPORE (June 1): When SPH REIT cut its distributions to unitholders for 2QFY2020 by 79% to a DPU of 0.3 cent, analysts were not so positive on the REIT’s outlook on the possible near-term challenges arising from the Covid-19 global pandemic.

However, DBS Group Research analyst Dale Lai and the Singapore research team has upgraded SPH REIT to “hold” from “fully valued” in a May 29 report, on the REIT’s retained income from its lowered DPU. The income was used to offset tenant rentals during the circuit breaker period.

SPH REIT, which will be providing up to 2.3 months of rent relief to selected tenants, is the most generous amongst the retail landlords.

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