CGS-CIMB Research stays Neutral on REITs due to CMCO

It said on Thursday it retained Add for Axis REIT due to positive rental reversion outlook (FY20F: +2%) and asset acquisition pipeline.

KUALA LUMPUR: CGS-CIMB Equities Research is keeping it Neutral stance on the real estate investment trust (REIT) sector given the cautious recovery outlook in 2H20F for the retail malls and hotel players, brought about by the conditional Movement Control Order (CMCO).

It said on Thursday it retained Add for Axis REIT due to positive rental reversion outlook (FY20F: +2%) and asset acquisition pipeline.