0645 GMT - OUE REIT stands to benefit from its high-quality and strategically located assets in Singapore, OCBC Investment Research's Donavan Tan says in a research report. The REIT's assets in Singapore are in prime areas and are likely to continue attracting demand. This will enable it to sustain resilient returns even amid in an environment of slowing growth, the analyst says. The REIT has made substantial progress optimizing its capital structure and enhancing financial flexibility since 2022, the analyst adds. OCBC forecasts the REIT's distribution yields at 6.7% for FY 2024 and 6.9% for FY 2025. OCBC initiates coverage of the units with a buy rating and a fair value estimate of S$0.340. Units are 1.7% higher at S$0.295. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
November 06, 2024 01:46 ET (06:46 GMT)
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