DBS Group Research analysts Dale Lai and Derek Tan have maintained their ‘buy’ rating on EC World REIT with an unchanged target price of 80 cents.

While rental rebates and retention of distributable income in light of Covid-19 impacted the REIT’s FY2020 performance with a lower than expected distribution per unit (DPU) of 5.36 cents, Lai and Tan note that portfolio occupancy has rebounded as of 4QFY2020.

SEE:EC World REIT reports lower 4QFY2020 DPU of 1.427 cents

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