Far East Hospitality Trust Initiation Report | SGX Company Insights | 8 January 2024
Miaomiao Liu, a Research Analyst at Phillip Securities Research will be covering the Far East Hospitality Trust initiation report.
We initiate coverage on Far East Hospitality Trust with a BUY recommendation and a price target of S$0.79. FEHT is trading at 0.73x P/NAV which is below the average SREIT of 0.84x. Our valuation is based on DDM using the cost of equity of 6.5% and 1.5% terminal growth rate. At our TP of S$0.79, we value FEHT at 4.8% FY23e DPU yield.
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