0759 GMT - APAC Realty faces an earnings hit from likely lower transaction volume and higher operational costs, says RHB Research, which cuts its 2023-2025 earnings estimates for the real-estate services provider by 22%-24%. These headwinds will probably continue amid a highly competitive real estate agency market in Singapore, says analyst Vijay Natarajan in a research report. Private residential transaction volumes in Singapore have been slowing amid a pricing mismatch in a rising rate environment, with this trend expected to continue until 1H 2024, the analyst says. RHB cuts the stock's target price to S$0.46 from S$0.54, with an unchanged neutral rating. Shares are 1.0% higher at S$0.50. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
November 14, 2023 02:59 ET (07:59 GMT)
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