0541 GMT - OUE REIT may achieve more interest-expense savings in 2025-2027, CGS International analysts say in a research report. Lower cost of debt in 1Q translated into interest-expense savings of roughly S$3 million, the analyst notes. Management expects further savings from a lower base rate when its share of OUE Allianz Bayfront's borrowing is re-financed in 2H, the analysts note. The brokerage raises its 2025-2027 distribution-per-unit estimates for the REIT by 3.8%-4.5% to reflect interest savings in 2025-2027. It upgrades the REIT's rating to add from hold, and raises the unit's target price to S$0.33 from S$0.32. Units are 1.8% lower at S$0.275. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
April 29, 2025 01:41 ET (05:41 GMT)
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