SINGAPORE (Nov 30): RHB Research is starting coverage on APAC Realty at “buy” with a target price of S$1.20 which is 15 times FY18 earnings or 15% lower than P/E of global peers.
In a Thursday report, analyst Vijay Natarajan notes that the stock offers an attractive 4.45% dividend yield for FY18, based on a management guided payout ratio of 50%.
Natarajan says APAC Realty as the “best proxy for investors looking to tap into the surging residential volumes in Singapore”... (Click here to read the full story.)