SINGAPORE (Dec 13): DBS is downgrading SPH REIT to “hold” from "buy" with a target price of $1.07 as the stock price closes in on its target price.
Supported by sticky occupancies, SPH REIT’s earnings have been resilient while its low 26% gearing enables the REIT manager to undertake value accretive acquisitions.
See: SPH REIT posts 0.7% rise in 4Q17 DPU to 1.42 cents
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