SINGAPORE (May 3): DBS Group Research is reiterating its “buy” call on Mapletree North Asia Commercial Trust (MNACT) with a higher target price of $1.60 from $1.45 previously.
The research house likes MNACT for its resilient and steady DPU profile combined with quality Grade A assets in Hong Kong, China and Japan. MNACT also remains to be the research house’s key picks and has been one of its best-performing S-REITs year to date.
In its latest 4Q19/FY19 results announcement, MNACT recorded 4Q DPU of 1.956 cents, 2.7% higher y-o-y and FY19 DPU of 7.69 cents, 2.8% higher y-o-y.
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