Elite UK REIT's Portfolio Moves Could Support Steady Distribution
Dow Jones
Aug 11
0753 GMT - Elite UK REIT's higher occupancy and longer leases are likely to boost the real-estate investment trust's income visibility, says Maybank Securities' Liu Miaomiao in a note. The U.K.-focused REIT's 1H DPU rose 3.3% on year thanks to interest-cost savings and lower vacancy-related expenses, the analyst says. Portfolio occupancy for 1H improved to 99.9% after recent portfolio constitution initiatives, she adds. She maintains her forecasts given Elite UK REIT's in-line 1H results and progressing redevelopment works. Maybank Securities retains its buy rating and target price of 0.44 pound. Units are flat at 0.315 pound.
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