OCBC calls ‘Buy’ on Starhill Global REIT despite macro headwinds

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With delays in redevelopment approvals, falling property valuations, and consecutive years of distribution per unit (DPU) declines, Starhill Global REIT may seem like it is going through a rough patch.

However, the REIT’s financial results are within expectations, said OCBC Research in a recently released note to investors.

The REIT’s DPU for 4Q 2019 came in at 1.10 Singapore cents, a marginal growth of 0.9% on a year-on-year basis.

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