SPH REIT kept at 'hold' with 99 cents fair value by OCBC

Stock Name: SPHREIT
Company Name: SPH REIT

Research House: OCBC

Price Call: HOLD

Target Price: 0.99

OCBC Investment Research is maintaining a "Hold" rating and $0.99 fair value estimate on SPH REIT amid higher rental reversion and attractive value of its assets.

In 1QFY15, SPH REIT reported revenue increased by 1.8% y-o-y to $50.6 million on the back of higher rental income.

Distribution to unitholders and distribution per unit grew 2.9% and 2.3% to $33.5 million and 1.33 cents respectively.

Within its portfolio, Paragon and The Clementi Mall both remained fully leased.