Suntec REIT | SGX Company Insights | 25 January 2024

Miaomiao Liu, a Research Analyst at Phillip Securities Research will be covering the Suntec REIT - Stock Analyst Research.

SUN is currently trading at FY24e yields of 6% and 0.58x P/NAV. We anticipate strong retail rental reversion to be persistent in FY24 as international visitors gradually return, and the office segment continues to achieve stable reversion in the mid-single digits. Our DDM-TP remains unchanged at S$1.47, with projected FY24-25e DPUs of S$7.30 to S$7.89 cents.

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