Elevator Pitch
Singapore-listed hospitality trust CDL Hospitality Trusts (OTC:CDHSF) (OTC:CDHSY) [CDREIT:SP] trades at 1.11 times P/B, which is on par with its long-term historical P/B average of approximately 1.1 times P/B since the trust's listing in 2006. The trust also offers a consensus forward FY2020 distribution yields of 5.7%, which is below the trust's long-term historical average distribution yield of approximately 6.7% since its listing in 2006.
I assign a "Neutral" rating to CDL Hospitality Trusts. While I am positive on the pro-forma DPU (Distribution Per Unit) accretion associated with trust's