Stock Evaluation and Commentary: Far East HTrust

Far East Hospitality Trust recommends buying, with a target price adjusted to SGD 0.73, and the closing price at SGD 0.605. Total revenue for the fiscal year 2024 is expected to slightly increase by 1.8% year-on-year to SGD 108.7 million, in line with expectations. Due to the increase in property tax and uncertain capital conditions, the forecast for distribution per unit for the fiscal years 2025 and 2026 has been revised down by 3% to SGD 3.99 cents and SGD 3.94 cents. The trust is actively seeking acquisition projects and may use the proceeds for real estate acquisitions