- ESR-LOGOS REIT (SGX:J91U)’s 3Q23 operating metrics were in line with our estimates. The decline in revenues and NPI were mainly due to the ~S$380m in divestments completed year-to-date. Looking ahead, another ~S$60m in divestments are expected to be completed by the end of FY23, bringing total divestments this year to slightly more than S$440m.
- - Read this at SGinvestors.io -
- The completion of the AEI at 7002 Ang Mo Kio Avenue 5 is particularly noteworthy, with an encouraging 50% commitment rate and an estimated yield on cost of ~7.1%.
Strong positive rental reversions to continue.
- Rental reversions remained strong, with a notable 13.5% increase, compared to +11.6% in the previous quarter. This upward trajectory was consistent across all property types in both Singapore and Australia.
- - Read this at SGinvestors.io -
Successful divestments of close to S$450m this year.
- 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/ 2023-10-26
Previous report by DBS:
2023-07-27 ESR-LOGOS REIT - Recapitalised For Growth.
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
