0518 GMT - Far East Hospitality Trust looks capable of delivering steady distributions, given its master-lease structure, low-geared balance sheet and top-ups from divestment gains, Maybank Research analyst Krishna Guha says in a research report. The REIT's operating metrics are sound, with its hotel segment's revenue per available room up roughly 20% on year in 2H, aided by solid demand from corporate groups and the recovery in leisure bookings, the analyst notes. Maybank lifts its 2024-2025 distribution-per-unit estimates for the REIT by 2%-3%, and raises its target price to S$0.80 from S$0.75. It keeps a buy rating on units, which are 0.8% higher at S$0.64. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
February 15, 2024 00:18 ET (05:18 GMT)
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