- ESR-LOGOS REIT (SGX:J91U)’s reversions were maintained at low teens (+10.8%) in 1Q24 amid lower occupancy, while its reversion guidance of a high single digit for the full year is unchanged.
- - Read this at SGinvestors.io -
Lowering revenue forecast
- In terms of capital recycling, in April ESR-LOGOS REIT divested 182-198 Maidstone Street Altona at a 7.4% premium above book. However, these continued operational highlights weren’t enough to offset the income gap from a bout of divestments since 2023. We lower our FY24 revenue forecast by ~6% to account for the income gap.
Mixed operational signs
- - Read this at SGinvestors.io -
- Rental trends have remained buoyant for Singapore logistics (+16.5%), high-spec (+12.7%) and general industrial (+14.9%) segments. Management expects continued strength in reversions for Singapore logistics and high-spec assets.
Higher expenses
- Read more at SGinvestors.io.
Above is the excerpt from report by Maybank Research.
Clients of Maybank Securities may be the first to access the full report in PDF @ https://www.maybanktrade.com.sg/.
Li Jialin Maybank Research | https://www.maybank-ke.com.sg/ 2024-04-24
Read also Maybank's most recent report:
2024-08-01 ESR-LOGOS REIT - Growing Japan Portfolio.
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
