$CDL HTrust (J85.SG)$ CDL Hospitality Trusts' valuation rema...

CDL Hospitality Trusts' valuation remains attractive at a price-to-book ratio of 0.6X, DBS Group Research analysts write. The REIT's gearing ratio of 38.8% and interest coverage ratio of 2.55X continues to be healthy, the analysts say. CDL Hospitality Trusts has one of the lowest fixed-rate hedge ratios of around 40%, they add. DBS notes that the REIT is one of the key beneficiaries of a dovish interest rate environment. The bank maintains its buy rating on the REIT, with a target price of S$1.20.