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Starhill Global REIT's Operating Metrics Show Much Stronger Resilience -- Market Talk
0315 GMT - Starhill Global REIT's operating metrics show much stronger resilience, RHB Research analyst Vijay Natarajan says in a report, noting its FY 2023 results. The REIT has full committed occupancy for its Singapore retail and office assets, and a positive outlook for rents, the analyst says. Negotiations on its master leases with Toshin Development are progressing well, with extension and rents likely to be better than existing terms, the analyst adds. Importantly, around 84% of its debts are hedged with no immediate refinancing needs until 2H 2024, putting the REIT in a better position against rising rates, the analyst adds. RHB raises the unit's rating to buy from neutral and the target price to S$0.56 from S$0.55. Units are unchanged at S$0.495.
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