- IREIT Global (SGX:UD1U)'s 1H23 revenues were 5.5% lower y-o-y, 10.0% lower h-o-h, mainly due to the vacancy of Darmstadt Campus (vacant since November 2022). Also, the rent-free period for lease renewal at Bonn Campus (four-month rent-free for lease extension from May 2023), and some other rent-free periods for lease renewals at Munster Campus and Sant Cugat Green.
- - Read this at SGinvestors.io -
1H23 DPU of EUR0.0092 is ~24% lower y-o-y
- The lower DPU was mainly due to the lower revenues, higher financing costs, as well as enlarged unit base from the preferential offering. It was also due to a one-off payment of EUR400,000 in leasing incentives for GMG as part of the six-year lease extensions at the Bonn Campus, and the preferential offering on 19 July 2023, which raised S$75.9m.
- - Read this at SGinvestors.io -
Acquisition in France at an attractive yield of 7.9%
- 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/ 2023-08-07
Read also DBS's most recent report:
2024-02-23 IREIT Global - French Acquisition At An Opportune Time.
Price targets by other brokers at IREIT Global Target Prices.
Listing of research reports at IREIT Global Analyst Reports.
Relevant links:
IREIT Global Share Price History,
IREIT Global Announcements,
IREIT Global Dividends & Corporate Actions,
IREIT Global News Articles
