Suntec REIT's Fundamentals Appear to Be Improving -- Market Talk

Dow Jones

Oct 29, 2024

0518 GMT - Suntec REIT's fundamentals appear to be improving, Maybank Research's Li Jialin says in a research report, citing results for the first nine months of 2024. There are signs that the REIT's U.K. assets are bottoming out and the occupancy of its Australian portfolio is improving, the analyst says. Positive rent growth of mid to high single digits for Suntec offices is likely to extend into 2025, and management has seen demand for office space of about 5,000 square feet. Management expects rental rate increases of 10%-15% in 2025, and stronger top-line contribution from the retail portion, the analyst notes. Maybank raises the REIT's target price to S$1.25 from S$1.10 with an unchanged hold rating. Units are 0.8% lower at S$1.22. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

October 29, 2024 01:18 ET (05:18 GMT)

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There are signs that the REIT's U.K. assets are bottoming out and the occupancy of its Australian portfolio is improving, the analyst says. Positive rent growth of mid to high single digits for Suntec offices is likely to extend into 2025, and management has seen demand for office space of about 5,000 square feet. Management expects rental rate increases of 10%-15% in 2025, and stronger top-line contribution from the retail portion, the analyst notes. Maybank raises the REIT's target price to S$1.25 from S$1.10 with an unchanged hold rating. Units are 0.8% lower at S$1.22. (ronnie.harui@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 29, 2024 01:18 ET (05:18 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Suntec REIT's Fundamentals Appear to Be Improving -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSuntec REIT's Fundamentals Appear to Be Improving -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-10-29 13:18</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0518 GMT - Suntec REIT's fundamentals appear to be improving, Maybank Research's Li Jialin says in a research report, citing results for the first nine months of 2024. There are signs that the REIT's U.K. assets are bottoming out and the occupancy of its Australian portfolio is improving, the analyst says. Positive rent growth of mid to high single digits for Suntec offices is likely to extend into 2025, and management has seen demand for office space of about 5,000 square feet. Management expects rental rate increases of 10%-15% in 2025, and stronger top-line contribution from the retail portion, the analyst notes. Maybank raises the REIT's target price to S$1.25 from S$1.10 with an unchanged hold rating. Units are 0.8% lower at S$1.22. (ronnie.harui@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 29, 2024 01:18 ET (05:18 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SG9999007892.SGD","symbol_name":"PHILLIP SINGAPORE REAL ESTATE INCOME FUND \"A\" (SGD) INC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2479448053","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2479448053","pubTimestamp":1730179080,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0518 GMT - Suntec REIT's fundamentals appear to be improving, Maybank Research's Li Jialin says in a research report, citing results for the first nine months of 2024. There are signs that the REIT's U.K. assets are bottoming out and the occupancy of its Australian portfolio is improving, the analyst says. Positive rent growth of mid to high single digits for Suntec offices is likely to extend into 2025, and management has seen demand for office space of about 5,000 square feet. Management expects rental rate increases of 10%-15% in 2025, and stronger top-line contribution from the retail portion, the analyst notes. Maybank raises the REIT's target price to S$1.25 from S$1.10 with an unchanged hold rating. Units are 0.8% lower at S$1.22. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"SG9999007892.SGD":"PHILLIP SINGAPORE REAL ESTATE INCOME FUND \"A\" (SGD) INC","REIT":"ALPS Active REIT ETF","BK6512":"房地产股","T82U.SI":"新达产业信托","CFA.SI":"NikkoAM-STC Asia REIT","BK6072":"多样化房地产投资信托v","SG9999007918.USD":"PHILLIP SINGAPORE REAL ESTATE INCOME FUND \"A\" (USDHDG) INC"},"translate_title":"新达房地产投资信托基金的基本面似乎正在改善——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"REIT":1,"T82U.SI":0.9,"CFA.SI":1},"content_text":"0518 GMT - Suntec REIT's fundamentals appear to be improving, Maybank Research's Li Jialin says in a research report, citing results for the first nine months of 2024. There are signs that the REIT's U.K. assets are bottoming out and the occupancy of its Australian portfolio is improving, the analyst says. Positive rent growth of mid to high single digits for Suntec offices is likely to extend into 2025, and management has seen demand for office space of about 5,000 square feet. Management expects rental rate increases of 10%-15% in 2025, and stronger top-line contribution from the retail portion, the analyst notes. Maybank raises the REIT's target price to S$1.25 from S$1.10 with an unchanged hold rating. Units are 0.8% lower at S$1.22. (ronnie.harui@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  October 29, 2024 01:18 ET (05:18 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}