Suntec REIT Suntec City REITsWeek

DBS has slashed its target price on Suntec REIT, posting to the impending divestment of strata units, higher vacancy, and higher refinancing costs in FY2024.

Suntec REIT is a Singapore-heavy landlord of mostly Grade A office spaces and it also has a portfolio of assets in Australia and the UK.

The REIT recently reported a 14% year-on-year decline in its 3Q 2023 distribution per unit.

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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.