Key Indices
Top Stories
Company Update | United Hampshire US REIT (UHU SP/BUY/US$0.45/Target: US$0.63)
- Recent surveys indicate that young Americans have renewed their interest in spending a substantial amount of their time at retail malls. Rents at strip centres are rising due to limited new construction and expansion by grocery, discount and service-oriented retailers. Valuation is attractive with a 2027 DPU yield of 10.9% (Kimco Realty: 5.1% and Regency Centers: 4.2%). Maintain BUY on UHU with a target price of US$0.63.
Market Spotlight
- US stocks were lower on Wednesday. All indices fell as industrials, materials and real estate sectors slid. There were more decliners than advancers on the NYSE and NASDAQ.
- The FSSTI fell 93.10 points to 5,608.44, on the back of weakness in DBS and OCBC Bank. Both mid- and smallcap indices rose with a broad market decline on S$2.76b turnover.
Technical Analysis
DBS Group (DBS SP)
- Trading Sell Range: S$77.67-77.68
Yangzijiang Shipbuilding (YZJSGD SP)
- Trading Sell Range: S$5.07-5.08
Top Stories
Company Update | United Hampshire US REIT (UHU SP/BUY/US$0.45/Target: US$0.63)
- Recent surveys indicate that young Americans have renewed their interest in spending a substantial amount of their time at retail malls. Rents at strip centres are rising due to limited new construction and expansion by grocery, discount and service-oriented retailers. Valuation is attractive with a 2027 DPU yield of 10.9% (Kimco Realty: 5.1% and Regency Centers: 4.2%). Maintain BUY on UHU with a target price of US$0.63.
Market Spotlight
- US stocks were lower on Wednesday. All indices fell as industrials, materials and real estate sectors slid. There were more decliners than advancers on the NYSE and NASDAQ.
- The FSSTI fell 93.10 points to 5,608.44, on the back of weakness in DBS and OCBC Bank. Both mid- and smallcap indices rose with a broad market decline on S$2.76b turnover.
Technical Analysis
DBS Group (DBS SP)
- Trading Sell Range: S$77.67-77.68
Yangzijiang Shipbuilding (YZJSGD SP)
- Trading Sell Range: S$5.07-5.08
Key Indices
IMPORTANT NOTICE - DISCLOSURES AND DISCLAIMERS
This report is provided subject to, and must be read together with, the full Disclosures / Disclaimers available at this link, which are incorporated by reference into this report. In particular, this report is intended for general circulation and informational purposes only and does not constitute personal investment advice or a recommendation to buy or sell any investment product or security. You should independently evaluate the information and, where necessary, seek advice from a qualified financial adviser regarding the suitability of any investment. Analyst certifications required under applicable regulations, including SEC Regulation AC (where relevant), are included in this report. By accessing, receiving or using this report, you acknowledge that you have read, understood and agreed to be bound by the Disclosures / Disclaimers, as may be amended, supplemented or updated from time to time.
