Daiwa House Logistics Trust - Worst Is Over As Yen Bottoms

- Daiwa House Logistics Trust (SGX:DHLU)'s earnings in JPY terms continue to outperform projections due to higher occupancy rates and higher rents achieved. NPI in JPY terms outperformed IPO forecasts by ~2.5%. However, the weaker JPY vs S$ has had a drag on earnings in S$ terms.
- Read this at SGinvestors.io -
- JPY depreciated by ~18% against the S$ y-o-y.
Positive rental reversions continued; portfolio occupancy remains very healthy
- Read this at SGinvestors.io -
- Daiwa House Logistics Trust's portfolio occupancy was maintained at a very strong 98.6%. Portfolio WALE is 6.4 years. 15 out of 16 properties are 100% occupied. Only vacancy is at DPL Koriyama (occupancy rate of 82.3%).
Borrowing costs maintained at 0.99% with all loans hedged to fixed rates
- Read more at SGinvestors.io.
Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.
Dale LAI DBS Group Research | Derek TAN DBS Research | https://www.dbs.com/insightsdirect/ 2023-02-24
Previous report by DBS:
2022-11-10 Daiwa House Logistics Trust - Lost In Translation.
Price targets by other brokers at Daiwa House Logistics Trust Target Prices.
Listing of research reports at Daiwa House Logistics Trust Analyst Reports.
Relevant links:
Daiwa House Logistics Trust Share Price History,
Daiwa House Logistics Trust Announcements,
Daiwa House Logistics Trust Dividends & Corporate Actions,
Daiwa House Logistics Trust News Articles