- ESR-LOGOS REIT (SGX:J91U) reported 1H24 DPU of S$1.122 cents, -5.4% h-o-h and at 42% and 47% of consensus and our full-year estimates. See ESR-LOGOS REIT's distribution dates.
- - Read this at SGinvestors.io -
NPI addition of S$39m
- ESR-LOGOS REIT proposed acquisitions of S$756.4m in Japan and SG from sponsor’s pipeline. The two acquisitions are estimated to add. S$13m (inc. income support) and S$26m of NPI in the first year of full income contribution.
Raise reversion guidance
- We see double-digit reversions from the logistics and hi-tech segments. While portfolio occupancy slipped 30bps q-o-q, strong reversions of 11.2% cushioned the impact. Business park registered positive reversion of +1.5% despite sector headwinds. Management revised guidance for rental reversion to ~9%.
- - Read this at SGinvestors.io -
- Redevelopment work at 2 Fishery port will likely commence in 1Q25. Negotiation with prospective anchor tenant for pre-commitment (~30% occupancy) is underway.
Increased exposure to logistics and hi-tech
- Read more at SGinvestors.io.
