0327 GMT - Singapore REITs may face near-term profit-taking, given the strong rebound in their unit prices, DBS Group Research analysts say in a research note. Following this rebound, their FY 2024 yields have fallen to roughly 6.5%, the analysts note, adding that the REITs may outperform in 2024 with interest rates expected to decline this year. DBS favors value over safety and prefers retail REITs--Frasers Centrepoint Trust and Lendlease Global Commercial REIT--over the others. DBS has a buy rating on both and target prices of S$2.60 and S$0.90 for Frasers Centrepoint Trust and Lendlease Global Commercial REIT, respectively. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
January 02, 2024 22:27 ET (03:27 GMT)
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