Retail continues to be thorn in Suntec REIT’s side

SINGAPORE (Oct 21): Maybank Kim Eng and CIMB are reiterating their “hold” calls on Suntec REIT after its manager, ARA Trust Management, reported a distribution per unit (DPU) of 2.535 cents for 3Q16, just 0.5% higher than its DPU of 2.522 cents a year ago.

(See also: Suntec REIT’s 3Q DPU marginally higher at 2.535 cents on divestment and lower revenue)

While Maybank has lowered its price target to $1.77 from $1.81 previously, CIMB is leaving its target price of $1.68 unchanged.

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