0744 GMT - OUE REIT's 2025 outlook appears positive, CGS International's Lock Mun Yee says in a research report. Management expects positive rental adjustments to continue in 2025 for the REIT's office portfolio, supported by favorable demand and supply dynamics, the analyst notes. Recent developments, such as Chinese tourists favoring Singapore as a destination due to safety concerns, should benefit the REIT's Hilton Singapore Orchard, given its strong brand name, according to management. However, the brokerage has cut its 2025-2027 DPS forecasts for the REIT by 3.4%-5.8% to account for the income gap resulting from its Lippo Plaza Shanghai divestment. It has also lowered the target price to S$0.32 from S$0.34, maintaining a hold rating. Units closed unchanged at S$0.30. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
January 28, 2025 02:44 ET (07:44 GMT)
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