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'Hold' OUE Commercial REIT on mixed performance, divestment: analysts

Felicia Tan
Felicia Tan2/5/2021 12:56 PM GMT+08  • 2 min read
'Hold' OUE Commercial REIT on mixed performance, divestment: analysts
CGS-CIMB has reduced its TP to 41.5 cents while OCBC has upped its fair value estimate to 40 cents.
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CGS-CIMB analysts Lock Mun Yee and Eing Kar Mei have maintained their “hold” call on OUE Commercial REIT (OUE C-REIT) with a lower target price of 41.5 cents from 48.5 cents on a mixed performance from the REIT.

OUE C-REIT reported distribution per unit (DPU) of 1.43 cents for the 2HFY2020 ended December and 2.43 cents for the FY2020, which came in slightly below the analysts’ expectations at 92.4% of their forecast.

The analysts also noted that REIT’s office segment continued to perform well at a stable committed portfolio occupancy of 92.5% as at end December 2020, with its hospitality segment underpinned by master lease arrangements.

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