Amid current strong liquidity, best strategy for Singapore REIT investors is to accumulate names offering above-average DPU yield, positive DPU growth, says Daiwa, according to Dow Jones.
“In Singapore’s current liquid market, with private-housing prices at all-time highs, Sibor reaching new lows, and the Singapore dollar strengthening to record levels against the US dollar, the S-REIT sector has become a natural target for liquidity,” says Daiwa.
Research house says Ascott (A68U.SG), Mapletree Logistics (M44U.SG) have highest yield, DPU growth; rates both at Outperform with respective $1.38, $1.00 targets.
Upgrades Ascendas (A17U.SG) to Outperform from Underperform, lifts target to $2.50 from $1.68; “as the only big-cap S-REIT with above-average yield and positive DPU growth, we believe AREIT is the ideal destination for liquidity in the S-REIT sector.”
Upgrades CapitaRetail China (AU8U.SG) to Hold from Underperform, lifts target to $1.24 from $1.11, on view valuation attractive.
Cuts Frasers Centrepoint (J69U.SG) to Hold from Outperform on limited upside to its $1.53 target.
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