Festive Spending Set to Drive Pavilion REIT's 4Q Earnings

Dow Jones10-23 10:30

0230 GMT - Pavilion Real Estate Investment Trust's 4Q earnings could strengthen, driven by year-end festive spending, improving occupancy and the early-November opening of the redeveloped space at Pavilion Kuala Lumpur mall, CIMB Securities' Ivy Ng Lee Fang says in a note. The outlook appears positive to the analyst given continued rental increases on renewed leases, improving occupancy following the completion of ongoing property upgrades, and the extension of the Malaysian government tourism campaign until December 2027. She expects the REIT to offer dividend yields of 6.6%-7.0% for 2026-2027. CIMB cuts the target price to 2.04 ringgit from 2.13 ringgit due to a higher cost of equity assumption but maintains a buy rating. Pavilion REIT trades 1.3% lower at 1.55 ringgit.

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