Company Name: SUNTEC REAL ESTATE INV TRUST
| Research House: UOB KayHian | Price Call: BUY | Target Price: 1.67 |
Stock Name: AscottREIT
Company Name: ASCOTT RESIDENCE TRUST
| Research House: UOB KayHian | Price Call: BUY | Target Price: 1.42 |
Stock Name: MapletreeLog
Company Name: MAPLETREE LOGISTICS TRUST
| Research House: UOB KayHian | Price Call: BUY | Target Price: 1.21 |
S-REITs are likely to outperform in the prolonged low-interest rate environment spurred by QE3, UOB KayHian says. While the segment has outperformed the STI year-to-date, “we see potential for further
upside as the trend of yield compression continues.”
It tips Suntec REIT as its top office-segment pick as it fast-tracks asset renovations, rating it Buy with $1.67 target; it notes charts tip the next potential resistance at $1.60, with $1.40 support. Ascott Residence Trust is its hospitality pick for “good all-round performance,” with 3Q12 earnings likely boosted by higher UK demand during the Olympic Games; it rates ART Buy with a $1.42 target, noting an around 7% dividend yield. Charts tip ART is consolidating for a potential breakout toward $1.40, with $1.20 offering near-term support, it says.
It tips Mapletree Logistics Trust as a steady industrial-segment bet, with a defensive portfolio, long leases and diversification across geographies and customers, while its sponsor continues to build an over-$400 million potential pipeline of assets. It rates MLT Buy with $1.21 target, noting charts indicate it may test $1.30, with support above $1.05.
Suntec rises 0.3% to $1.49, MLT is down at $1.12 and ART gains 0.4% to $1.26.
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