MGR – Credit Suisse rates the stock as Upgrade to Neutral from Underperform

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Credit Suisse reiterates a positive view on the quality of the company’s office portfolio, expecting that operating income growth will be healthy and derived from rent reviews and the rolling out/completion of the commercial development pipeline.

The sustainability of distribution growth is also well supported by recurring revenue streams and a low pay-out ratio. Rating is upgraded to Neutral from Underperform. Target is steady at $3.04.

Sector: Real Estate.

Target price is $3.04.Current Price is $3.01. Difference: $0.03 – (brackets indicate current price is over target). If MGR meets the Credit Suisse target it will return approximately 1% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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