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
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