OCBC upgrades Suntec REIT in wake of 11% correction

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OCBC Investment Research has upgraded its call on Suntec REIT, in the wake of an 11.6% correction in unit price since January 2018.

The bank had previously issued a ‘Sell’ rating on the REIT, which owns a portfolio of office and retail properties across Australia and Singapore.

In its 1Q 2018 results, Suntec REIT’s distribution per unit (DPU) growth was flat, inching up 0.3% year-on-year at 2.433 Singapore cents.

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