Koh and Loke also recommend stocking on units in Ascott Residence Trust (ART) with a target price of $1.16; Far East Hospitality Trust (FEHT), with a target price of 62 cents; and Keppel REIT (KREIT) with a target price of $1.30.
S-REITs’ top performers last week include data centre REITs Keppel Data Centre REIT (KDCREIT) and Mapletree Industrial Trust (MIT), which gained 4% and 2.8% respectively.
Keppel Data Centre REIT entered into a joint venture with SPH subsidiary Times Properties on June 29 to incorporate a new joint venture company at 82 Genting Lane.
Mapletree Industrial Trust acquired the remaining 60% stake in 14 data centres in the US on June 23. “The transaction is expected to boost pro-forma FY20 DPU by 3.4% to 12.66 cents, and net asset value (NAV) per share by 3.7% to $1.68,” say Koh and Loke.
Defensive S-REITs United Hampshire REIT and Parkway Life REIT, as well as industrial REITs Ascendas REIT (A-REIT), and Mapletree Logistics Trust (MLT) increased 1.75, 1.2%, 1.6%, and 1% respectively.
Conversely, CDL Hospitality Trusts (CDLHT), Ascott Residence Trust (ART), Frasers Hospitality Trust (FHT), and FEHT fell 8%, 6.6%, 6%, and 4.7% respectively. Lendlease Global Commercial REIT (LREIT) and Starhill Global REIT (SGREIT) dropped 6.8% and 6.4% respectively.
Units in CapitaLand Mall Trust closed 3 cents higher, or 1.5% up at $2.03.
Units in Frasers Centrepoint Trust closed 2 cents higher, or 0.9% up at $2.34.
Units in Keppel Data Centre REIT closed 1 cent lower, or 0.4% down, at $2.55.
Units in Mapletree Industrial Trust closed 4 cents higher, or 1.4% up, at $2.94.
Units in United Hampshire US REIT closed 0.5 cents lower, or 0.8% down, at 59.5 cents.
Units in Parkway Life REIT closed 6 cents higher, or 1.8% up, at $3.41.
Units in Ascendas REIT closed 9 cents higher, or 2.8% up, at $3.28.
Units in Mapletree Logistics Trust closed 6 cents higher, or 3.0% up at $2.03.
Units in CDL Hospitality Trust closed 1 cent higher, or 1.0% up, at $1.05.
Units in Ascott Residence Trust closed 2 cents higher, or 2% up at $1.02.
Units in Frasers Hospitality Trust closed 1 cent higher, or 2.2% up at 47.5 cents.
Units in Far East Hospitality Trust closed 2.5 cents higher, or 5% up at 52.5 cents.
Units in Lendlease Global Commercial REIT closed 0.5 cents higher, or 0.7% up at 68 cents.
Units in Starhill Global REIT closed 1 cent higher, or 1.9% up, at 52.5 cents.
