Brighter days ahead for OUE Hospitality Trust

SINGAPORE (Aug 2): Religare has downgraded OUE Hospitality Trust (OUE-HT) to “hold”, with a lower target price of 74 cents.

This comes as the REIT reported a 9.2% y-o-y decline in 2Q16 revenue, as well as a 19.1% dip in DPU in the corresponding period.

Describing it as a “weak quarter”, Religare analyst Pang Ti Wee says that the REIT’s 2Q16 earnings fell below estimates, with revenue and DPU accounting for 21% and 16.9% of full-year forecasts respectively.

---

Related Stories

• Lim & Tan Securities maintains ‘buy’ on Grand Banks Yachts; almost doubles TP to $1.05
• Brokers’ Digest: AEM, Prime US REIT, Hyphens Pharma, Seatrium, Valuetronics, DFI Retail Group, CDG, Centurion, Sembcorp
• Citi maintains ‘buy’ on Keppel DC REIT after acquisition of two data centres in Genting Lane

---