Suntec REIT SGXT82Us 1Q22 DPU rose 17 y-o-y and 5 q-o-q driven by improvement at Suntec City contribution from Londons Minister Building and resumption of capital distributions S02cts per quarter to 4Q23Occupancy improved with demand recovery and we expect fundamentals for Suntec REITs Singapore office and retail assets to strengthen. The counter was trading 17 per cent or S002 higher at the time.
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Maybank raised its target to S130 from S120 implying a potential upside of 74 per cent from Keppel Reits last trading price of S121 as at 329 pm on Thursday.
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