CDL Hospitality Trusts: (S$1.435) 1Q16 dragged by lower RevPAR and higher financing costs
- DPU of 2.22¢ (-9% y/y) came in at the lower end of estimates.
- Revenue rose 5.8% largely underpinned by recent acquisition and refurbished mall
- Bottom line weighed by higher funding costs
- Estimated FY16 yield of 7.5% and P/B of 0.92x.
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