SINGAPORE (July 2): As daily new confirmed cases reached 80,000 in the US last week, the UOB Kay Hian Singapore REIT (S-REIT) Index corrected 0.8% week-on-week to 247.7 in the same week.
Analysts Jonathan Koh and Peihao Loke remain unfazed at the correction. In fact, they see it as an opportunity to accumulate retail REITs such as CapitaLand Mall Trust (CMT) and Frasers Centrepoint Trust (FCT) with target prices of $2.60 and $2.85 respectively.
Koh and Loke also recommend stocking on units in Ascott Residence Trust (ART) with a target price of $1.16; Far East Hospitality Trust (FEHT), with a target price of 62 cents; and Keppel REIT (KREIT) with a target price of $1.30.
