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RHB keeps ‘buy’ on Prime US REIT with promising leasing momentum

Chloe Lim
Chloe Lim5/20/2022 05:26 PM GMT+08  • 3 min read
RHB keeps ‘buy’ on Prime US REIT with promising leasing momentum
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RHB Group Research analyst Vijay Natarajan has kept a “buy” rating on Prime US REIT with a target price of US$1.02 ($1.40).

According to Natarajan, he believes that the stock has underperformed YTD largely due to misplaced concerns on a prolonged and deep impact to office assets from work from home impact and recession concerns.

“While risks have increased on the back of persistent inflation and ongoing Russia-Ukrainian war, we believe the valuation of 0.8x P/B and 10% yield are unjustified,” says the analyst.

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