DBS analyst Derek Tan has maintained their bullish stance on OXMU stock, giving a Buy rating today.
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Derek Tan has given his Buy rating due to a combination of factors tied to improving operations and income visibility. He expects occupancy to rise toward about 90% by FY25/1QFY26, supported by longer leases that extend WALE to 4.7 years, which should boost NPI by roughly 20% and bring earnings close to pre-pandemic levels.
He also highlights management’s decision to lift the payout ratio to 65%, signalling confidence in cash flow recovery, and notes that potential U.S. rate cuts could further lower funding costs and support distributions. With the units trading at roughly 0.4x P/B and offering an attractive forward yield above about 6.6–8.0%, Tan sees significant value, underpinning his DCF-based target price of USD 0.33 and Buy recommendation.
In another report released today, Phillip Securities also maintained a Buy rating on the stock with a $0.32 price target.