Singapore real-estate investment trusts' distributions per unit are likely to grow marginally this financial year amid higher-for-longer interest rates, says OCBC Group Research's Andy Wong in a media briefing. REITs covered by the bank posted a "mixed bag" of earnings for the first quarter, while the central banks in markets where Singapore REITs have relatively larger exposure to--namely Europe, Australia and Japan--have started increasing their rates, the senior equity analyst says. Higher interest rates tend to hurt REITs' financial metrics as they refinance loans, increasing their borrowing costs. OCBC cuts its distribution per unit forecasts by an average of 1.0% for this financial year and by an average of 1.4% for the next financial year. He expects growth this year to be "more flattish." (megan.cheah@wsj.com)