Elevator Pitch
I maintain my "Neutral" rating on Singapore-listed hospitality trust CDL Hospitality Trusts (CDHSF) (CDHSY) [CDREIT:SP]. While the Wuhan coronavirus is expected to be negative for CDL Hospitality Trusts in the near term, CDL Hospitality Trusts' unit price has declined by close to -8% since January 17, 2020, and the REIT's current P/B valuation is on par with its five-year historical average. This implies that part of the potential negatives associated with the coronavirus outbreak has been priced into CDL Hospitality Trusts' unit price.
This is an update of my