Suntec REIT's Southgate Complex in Melbourne, Australia. (Photo: Dexus Property Group)

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.

To read the full article, please login or subscribe.

By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.