Darren Chan Reiterates Buy on Suntec REIT, Citing Strong Singapore Core, High Occupancy and Attractive Yield at NAV Discount
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Phillip Securities analyst Darren Chan has reiterated a Buy rating on Suntec REIT (SURVF) due to strong core operations in Singapore, high occupancy rates, and attractive yields at a discount to net asset value. The 1Q26 distribution per unit increased significantly, supported by lower financing costs and robust contributions from Singapore's office and retail sectors. Chan highlights the REIT's stable cash flows and management's strategy to divest foreign properties to maintain leverage. DBS also maintains a Buy rating with a S$1.60 price target.
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