Broker Name: DBS
Excerpt from DBS report
Report Summary
- CAREIT has received approval to develop an additional 6-storey block at Westlite Ubi, increasing bed capacity by 540 (from 1650 to 2190).
- Development work starts in 2Q26, taking 1.5 years, with costs estimated at SGD27-32m and funded internally, raising gearing by a manageable +1.8ppt.
- Expected full-year accretion to FY28 DPU is +1.5% on completion, highlighting management’s strong execution and making CAREIT a top sector pick with a target price of SGD1.30.
above is an excerpt from a report by DBS. Clients of DBS can be the first to access the full report from the DBS website: https://www.dbs.com.sg
