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The latest announcement is out from Starhill Global Real Estate Investment ( (SG:P40U) ).
Starhill Global REIT has secured a favourable partial final arbitral award in its dispute with major tenant Myer Pty Ltd over an alleged breach of the lease for the Myer store in Myer Centre Adelaide, with the tribunal dismissing Myer’s claim for a right to terminate the lease. The REIT has incurred about A$5 million in legal and professional fees and awaits a separate costs award that may allow partial recovery of these expenses; despite the Myer lease contributing 7.0% of portfolio revenue and 8.9% of net property income in FY2025, the ruling is not expected to materially affect distributable income for the financial year ending 30 June 2026.
The most recent analyst rating on (SG:P40U) stock is a Buy with a S$0.50 price target. To see the full list of analyst forecasts on Starhill Global Real Estate Investment stock, see the SG:P40U Stock Forecast page.
More about Starhill Global Real Estate Investment
Starhill Global Real Estate Investment Trust is a Singapore-listed real estate investment trust managed by YTL Starhill Global REIT Management Limited, with a portfolio that includes retail assets such as the Myer Centre Adelaide in Australia. Its revenues and net property income are significantly supported by major tenants, including department store operator Myer Pty Ltd, which occupies a substantial portion of its Australian retail space.
Average Trading Volume: 1,229,147
Technical Sentiment Signal: Buy
Current Market Cap: S$1.38B
See more insights into P40U stock on TipRanks’ Stock Analysis page.