PhillipCapital Research

Broker's Calls

Investors 'disappointed'? OCBC's 'sector-leading' CET-1 reserves overshadow 'solid' FY2023 results: analysts

OCBC’s dividend payout ratio of 53% caps off record earnings of $7.02 billion for FY2023, up 27% y-o-y.
Analysts slash Prime US REIT target price on US$600 mil debt expiring July, enlarged share base - THE EDGE SINGAPORE

Broker's Calls

Analysts slash Prime US REIT target price on US$600 mil debt expiring July, enlarged share base

Gearing, at 48.4%, is “a little too high for comfort”, says DBS Group Research.
DBS, CGS International trim Elite Commercial REIT's target price after FY2023 DPU miss - THE EDGE SINGAPORE

Broker's Calls

DBS, PhillipCapital, CGS International trim Elite Commercial REIT's target price after FY2023 DPU miss

Elite Commercial REIT reported a distribution per unit of 3.42 British pence for FY2023, 28.9% lower y-o-y, at 100% payout.
PhillipCapital 'overweight' on S-REITs even as distributions shrink; FCT, CLAS top picks - THE EDGE SINGAPORE

Broker's Calls

PhillipCapital 'overweight' on S-REITs even as distributions shrink; FCT, CLAS top picks

S-REITs fell 4.4% in January after gaining 8.9% in December 2023. The top performer for the month was Frasers Centrepoint Trust.

Broker's Calls

Silverlake Axis's quality of earnings improving, analysts maintain 'buy' with lower TPs

The company’s overall GPM may start trending towards a new lower run rate.

Broker's Calls

With gearing at a low 31.3%, 'buy' Far East Hospitality Trust ahead of likely Japan acquisitions, Taylor Swift concerts

FEHT proposed on Feb 14 a distribution to stapled securityholders (DPS) of 4.09 cents for FY2023, 25.1% higher y-o-y.

Broker's Calls

PhillipCapital downgrades Keppel DC REIT to 'accumulate', lowers TP to $1.86

The analyst has cut his FY2024, FY2025 and FY2026 DPU estimates for Keppel DC REIT by 14%, 11% and 8% respectively.
FCT ‘king of suburban retail malls’, analysts raise TPs following higher NEX stake acquisition  - THE EDGE SINGAPORE

Broker's Calls

FCT ‘king of suburban retail malls’, analysts raise TPs following higher NEX stake acquisition

NEX is a high-quality asset and a good strategic fit for FCT’s diversified prime suburban retail portfolio.

Broker's Calls

SGX 'leaning on' FX, commodities as equities business stays 'unexciting': analysts

“Despite robust growth from the FICC segment, we reckon that there are no near-term catalysts to justify a higher valuation.”
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