Kenanga research maintains its “overweight” call on the REIT sector and its preferred picks are Axis REIT (pic) (outperform; target price RM2.15) and KLCC REIT (outperform; target price RM7.35) in light of their rock-stable earnings.
THE resumption of economic activity amid the easing up of lockdown restrictions has seen equity analysts maintaining their upbeat outlook on Malaysian real estate investment trusts (REITs), particularly in the retail and office segments.
Kenanga Research believes the fourth quarter of 2021 should see a significant improvement for the retail segment’s earnings in the form of revenge shopping and hospitality segment from an uptick in local holiday stays.
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