SPOT_ON
09-06

CROMWELL REIT TARGET EURO 1.91

$Cromwell Reit EUR(CWBU.SI)$  

$Cromwell Reit SGD(CWCU.SI)$  

> 20% UPSIDE

CERT remains focused on maintaining high portfolio occupancy and rental income growth,

managing the November 2025 bond maturity, and completing the remaining €90mn of nonstrategic divestments.

Maintain BUY with an unchanged DDM TP of €1.91

The current share price implies an FY24e/25e DPU yield of 10.2%/9.7%, and a P/NAV of 0.65x

Modified in.09-06
Which S-REITs Bring You the Most Profit?
Fed is set to cut interest rates in September. In a low-interest-rate environment, the return on fixed-income assets declines, making REITs more attractive. Higher Yield: The average dividend yield for S-REITs is 7.1%, significantly higher than the yield on Singapore government bonds. Regular Income: S-REITs usually distribute dividends quarterly or semi-annually, providing investors with a steady cash flow. Tax Benefits: REITs that invest in Singapore real estate can enjoy tax transparency by distributing at least 90% of their taxable income to unit holders, thereby avoiding double taxation
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.

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