AIMS APAC REIT - DBS Research 2022-10-27: Portfolio Valuations Supported By Strong Underlying Rents

AIMS APAC REIT - Portfolio Valuations Supported By Strong Underlying Rents


1H23 DPU of 4.70 cents.

  • - Read this at -
  • Higher revenues and NPI mainly from Woolworths HQ acquisition and higher rental income from Singapore portfolio. 1H23 DPU is ~0.9% higher y-o-y if one-off reversals in 1H22 were excluded.

Positive rental reversions of +6.2% in 2Q23, +8.1% for 1H23.

  • AIMS APAC REIT reported continued positive rental reversions of +6.2% in 2Q23 (compared to +9.5% in 1Q23).
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  • AIMS APAC REIT executed ~53,000sqm of new leases and renewals in 1H23. New sources of demand continue to come from the consumer and retail product, logistics, and engineering sectors.
  • ~7.4% of portfolio leases will be expiring in 2H23, Bulk is from the logistics & warehouse segment (5.2% of the 7.4%), which could continue to benefit from the upside in rents.

Portfolio valuations inched up slightly in local currency terms.

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Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @

Dale LAI DBS Group Research | Derek TAN DBS Research | 2022-10-27

Read also DBS's most recent report:
2023-05-08 AIMS APAC REIT - Portfolio Occupancy At Record-High; +36.8% Rental Reversions.

Price targets by other brokers at AIMS APAC REIT Target Prices.

Listing of research reports at AIMS APAC REIT Analyst Reports.

Relevant links:
AIMS APAC REIT Share Price History,
AIMS APAC REIT Announcements,
AIMS APAC REIT Dividends & Corporate Actions,
AIMS APAC REIT News Articles


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