OUE Hospitality Trust’s DPU drops 39.5 % to 0.92 cents
Full-year outlook is also not very welcoming.
Despite anticipated contributions from new attractions come 2H16, OUE Hospitality Trust’s (OUEHT) Q2 DPU was still below expectations, analysts say.
According to OCBC, OUEHT’s DPU plunged 39.5 YoY to 0.92 S cents or 17.2% of its full-year forecast. Bloomberg gave a lower 16.4% consensus DPU forecast, undermining supposed boost in 2H16 from Crowne Plaza Changi Airport (CPCA) extension along with the opening of Victoria’s Secret and Michael Kors at Mandarin Gallery, it added.