Suntec REIT's Valuation Rich; Divestment May Act as Catalyst -- Market Talk

Dow Jones01-24

0351 GMT - Suntec REIT's current valuation of 5.6% of 2024 estimated yield looks expensive, but sustained efforts to sell its Suntec City Office strata units could be a major share price catalyst, Citi Research analyst Brandon Lee says in a note. Last year, Suntec sold units worth S$94.4 million, the bank notes. Citi maintains its sell rating and target price of S$1.13 on a cautious outlook for its business segments this year. Units are currently up 1.67% at S$1.22. (amanda.lee@wsj.com)

(END) Dow Jones Newswires

January 23, 2024 22:51 ET (03:51 GMT)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2405127456?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-01-24 11:51","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2405127456","market":"fut","top_or_hot":-1,"title":"Suntec REIT's Valuation Rich; Divestment May Act as Catalyst -- Market Talk","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0351 GMT - Suntec REIT's current valuation of 5.6% of 2024 estimated yield looks expensive, but sustained efforts to sell its Suntec City Office strata units could be a major share price catalyst, Citi Research analyst Brandon Lee says in a note. Last year, Suntec sold units worth S$94.4 million, the bank notes. Citi maintains its sell rating and target price of S$1.13 on a cautious outlook for its business segments this year. Units are currently up 1.67% at S$1.22. (amanda.lee@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 23, 2024 22:51 ET (03:51 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Suntec REIT's Valuation Rich; Divestment May Act as Catalyst -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSuntec REIT's Valuation Rich; Divestment May Act as Catalyst -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-01-24 11:51 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>0351 GMT - Suntec REIT's current valuation of 5.6% of 2024 estimated yield looks expensive, but sustained efforts to sell its Suntec City Office strata units could be a major share price catalyst, ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SG9999007918.USD","symbol_name":"PHILLIP SINGAPORE REAL ESTATE INCOME FUND \"A\" (USDHDG) INC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2405127456","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2405127456","pubTimestamp":1706068260,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0351 GMT - Suntec REIT's current valuation of 5.6% of 2024 estimated yield looks expensive, but sustained efforts to sell its Suntec City Office strata units could be a major share price catalyst, Citi Research analyst Brandon Lee says in a note. Last year, Suntec sold units worth S$94.4 million, the bank notes. Citi maintains its sell rating and target price of S$1.13 on a cautious outlook for its business segments this year. Units are currently up 1.67% at S$1.22. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"SG9999007918.USD":"PHILLIP SINGAPORE REAL ESTATE INCOME FUND \"A\" (USDHDG) INC","BK6512":"房地产股","REIT":"ALPS Active REIT ETF","CFA.SI":"NikkoAM-STC Asia REIT","SG9999007892.SGD":"PHILLIP SINGAPORE REAL ESTATE INCOME FUND \"A\" (SGD) INC","T82U.SI":"新达产业信托","BK6072":"多样化房地产投资信托v"},"translate_title":"新达房地产投资信托基金估值丰厚；撤资可能是催化剂——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CFA.SI":1,"REIT":1,"T82U.SI":0.9},"content_text":"0351 GMT - Suntec REIT's current valuation of 5.6% of 2024 estimated yield looks expensive, but sustained efforts to sell its Suntec City Office strata units could be a major share price catalyst, Citi Research analyst Brandon Lee says in a note. Last year, Suntec sold units worth S$94.4 million, the bank notes. Citi maintains its sell rating and target price of S$1.13 on a cautious outlook for its business segments this year. Units are currently up 1.67% at S$1.22. (amanda.lee@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  January 23, 2024 22:51 ET (03:51 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2405127456"}