Cromwell European REIT (CEREIT)

Broker's Calls

Phillip Securities ‘overweight’ on S-REITs; expects three rate cuts next year, not five

S-REITs will take time to benefit from interest rate cuts given the high percentage of fixed-rate loans, says Phillip Securities, while naming three top picks.
Fitch Ratings raised its outlook on Cromwell European REIT to 'positive', affirmed its default rating at 'BBB-' - THE EDGE SINGAPORE

Broker's Calls

Fitch Ratings raises outlook on Cromwell European REIT to 'positive', affirms its default rating at 'BBB-'

This re-rating reflects the REIT’s significant progress in making logistics and light industrial properties the majority of its portfolio, says Fitch.

Broker's Calls

RHB and DBS lower target prices to EUR1.90 for Cromwell European REIT after its 1HFY2024 results

Both brokerages keep their “buy” calls, in anticipation of decreasing interest rates and steady portfolio valuations.

Results

Cromwell European REIT reports 1HFY2024 DPU of 7.05 Euro cents, 9.5% lower y-o-y

Unitholders will receive their DPUs on Sept 27.

REITs

CEREIT’s portfolio valuation up by 0.6% as at June 30

Stabilising market conditions in Europe and lower risk-free rates have helped lift CEREIT's portfolio valuation recently.

Broker's Calls

RHB sees minimal impact from Cromwell European REIT’s change of sponsor

RHB Bank Singapore analyst Vijay Natarajan has kept his “buy” call and target price of EUR2.05 ($3) on the REIT.

Broker's Calls

Analysts keep ‘buy’ on Cromwell as the REIT's portfolio transformation remains on track

CGS International and RHB lower their target prices and DPU estimates after factoring in divestments.
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