0133 GMT - Suntec REIT likely faces some headwinds at home and abroad, OCBC Investment Research says in a note. Rental adjustments for the REIT's Singapore office assets are expected to moderate in the future, and there continues to be uncertainty over the longer-term impact of work-from-home trends, OCBC says. In Australia and the U.K., the REIT's office portfolio has been affected by impairments to asset valuations given increases in capitalization rates and some pressure on occupancy rates. Other headwinds include the REIT's relatively high aggregate leverage ratio. OCBC lowers the REIT's fair value estimate to S$1.14 from S$1.19 with an unchanged hold rating. Units are unchanged at S$1.14. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
February 11, 2025 20:33 ET (01:33 GMT)
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