OUE Hospitality Trust: 1Q16 results in line with expectations
- Gross revenue increased 2.8%, while DPU fell 31.7% to 1.10¢.
- OCBC expects a higher DPU contribution from 2H16.
- Given the steeper-than-anticipated decline in retail revenue as well as the rate hike environment, OCBC lowers TP from $0.70 to $0.67.
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