A-Reit

A-Reit: HSBC says, on the back of potential un-winding of monetary stimulus and rising interest rates, the long awaited sell-off in the REIT sector has finally arrived. The selldown has been broad-based and even quality REITs have not been spared. The house upgrades A-Reit to Neutral from underweight, with unchanged TP of $2.50. Projected div is 5.8% with 3yr prospective CAGR of 1.9% pa. Likes mgt’s judicious approach to acquisitions.