SINGAPORE (Dec 13): DBS is downgrading SPH REIT to “hold” from "buy" with a target price of S$1.07 as the stock price closes in on its target price.
Supported by sticky occupancies, SPH REIT’s earnings have been resilient while its low 26% gearing enables the REIT manager to undertake value accretive acquisitions.
In a Thursday report, analyst Derek Tan says, “We upgraded the REIT in March 2017 on the back of potential acquisition of The Seletar Mall... (Click here to read the full story.)