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Investing.com - UBS initiated coverage on Centurion Accommodation REIT (CAREIT:SP) with a Buy rating and a price target of SGD1.18.
The research firm highlighted that CAREIT is the first Singapore REIT offering pure-play exposure to purpose-built worker accommodation in Singapore and purpose-built student accommodation in the UK and Australia.
According to UBS, CAREIT’s portfolio is valued at S$1.84 billion and comprises five purpose-built worker accommodation assets with 21,282 beds and nine purpose-built student accommodation assets with 2,772 beds as of March 31, 2025.
The investment bank noted that persistent undersupply exists in CAREIT’s operating markets and believes the REIT’s short lease model with weighted average lease expiry of less than one year positions it well to capture upside from rent repricing and occupancy resilience.
UBS also pointed to the Sponsor’s asset pipeline as providing growth visibility for the REIT going forward.
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