REITs – Singapore
S-REITs Bi-Weekly Updates (1-15 Jun 21)
S-REITs gained 3.5% during 1-15 June. Yield for 10-year Singapore government bond dropped 6bp to 1.42%, reflecting easing of concerns that economic growth would be overheated. We recommend a balanced mix of blue chip and laggard S-REITs. BUY blue chips AREIT (Target: S$3.83), FCT (Target: S$3.06), KREIT (Target: S$1.49) and MINT (Target: S$3.62). BUY laggards ALLT (Target: S$0.89), FEHT (Target: S$0.71), LREIT (Target: S$1.01) and UHU (Target: US$0.95). Maintain OVERWEIGHT.