United Hampshire US REIT May Benefit from Young Americans Returning to Malls, Other Tailwinds
Dow Jones
Yesterday
0504 GMT - United Hampshire US REIT may benefit from young Americans returning to malls and other tailwinds, UOB Kay Hian's Jonathan Koh says in a research report. Recent surveys indicate that young Americans have renewed their interest in spending a significant amount of their time at retail malls such as those owned by the REIT. Also, closures of department stores and limited new supply have reduced competition for well-located malls, helping them attract more shoppers and tenants. The brokerage maintains the REIT's buy rating, but lowers the unit's target price to 0.63 U.S. dollar from US$0.69 to partly reflect a higher cost of equity. Units are 1.15% lower at US$0.43.
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