- ESR-LOGOS REIT's 2H22 DPU rose 7.5% y-o-y to S$0.0152.
- Positive rental reversion of 11.8%.
- Logistics and high-specs industrial segments drove space demand.
2H22 DPU above our expectations on higher capital distribution
- - Read this at SGinvestors.io -
- ESR-LOGOS REIT's 2H22 DPU came in at S$0.0154 (+7.5% y-o-y), brining full year DPU to S$0.03 (+0.4% y-o-y), above our expectations due to higher-than-expected capital gains distribution of S$14.5m.
Rental reversion improved from -1.7% in FY21 to +11.8%in FY22
- - Read this at SGinvestors.io -
- Rental reversion came in at 11.8% in FY22 with all the segments registering positive rental reversions (Logistics: +15.7%, High-specs industrial: +12.3%, General industrial: +9.7%, Business Park: +4.7%). Management expects FY23 rental reversion to be around 4-6%, driven by the logistics segment.
Identified up to S$450m of non-core assets to be divested over the next 12 months
- Read more at SGinvestors.io.
Above is the excerpt from report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full report in PDF @ https://www.iocbc.com/.
OCBC Research Team OCBC Investment Research | https://www.iocbc.com/ 2023-02-02
Read also OCBC's most recent report:
2023-04-11 ESR-LOGOS REIT - EFR Of ~S$300m To Strengthen Balance Sheet .
Price targets by other brokers at ESR-LOGOS REIT Target Prices.
Listing of research reports at ESR-LOGOS REIT Analyst Reports.
Relevant links:
ESR-LOGOS REIT Share Price History,
ESR-LOGOS REIT Announcements,
ESR-LOGOS REIT Dividends & Corporate Actions,
ESR-LOGOS REIT News Articles
