3 S-REITs to ‘buy’ as sector retains ‘overweight’ rating

SINGAPORE (July 21): UOB Kay Hian has kept its “overweight” rating on Singapore REITs, following the release of 2Q16 results by CapitaLand Commercial Trust (CCT), Ascott Residence Trust (ART) and Cache Logistics Trust (Cache).

UOB lead analyst Vikrant Pandey maintained the research house’s “buy” call on CapitaLand Commercial Trust with an unchanged target price of $1.93.

CCT on Wednesday posted DPU of 2.20 cents in 2Q, up 0.5% from 2.19 cents in the same period last year, on the back of higher contributions from CapitaGreen and Raffles City Singapore.

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