Suntec Reit | Hold (maintained)
UOB Kay Hian, July 10
Target price: S$2.00
July 10 close: S$1.96
The proposed acquisition of 21 Harris Street in Sydney, Australia, will deepen Suntec Reit's Australia exposure from 11 per cent to 14 per cent of its total assets under management (AUM).
This is in line with management's strategy to deepen the company's presence in existing geographical locations.
Transacted price of A$297 million (S$279.8 million) is fair and i...