- AIMS APAC REIT’s 3QFY25 gross revenue and net property income (NPI) rose 5.7% and 1.9% to S$139.1m and S$99.6m, respectively – Revenue and NPI growth were primarily driven by sustained positive rental reversions across all segments of the portfolio.
- - Read this at SGinvestors.io -
Expect rental reversions to moderate.
- Management indicated that they expect rental reversions to moderate throughout 2025, as signing rents catch up to headline rents, new logistics and industrial supply comes online, and potential trade uncertainties may dampen demand.
- Additionally, one of their top ten tenants has decided to vacate their space; however, management has successfully backfilled about 80% of that space at ~20% higher rents, as previous discounts were offered due to the tenant occupying a large area.
NPI margin compressed significantly.
- - Read this at SGinvestors.io -
- The 9MFY25 AIMS APAC REIT DPU increased by 1.1% y-o-y to 7.07 Singapore cents, in-line with our expectations and accounting for 75.7% of our forecast.
Another quarter of slight dip in portfolio occupancy.
- Read more at SGinvestors.io.
Above is an excerpt from a report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full PDF report @ https://www.iocbc.com/.
Donavan Tan OCBC Investment Research | https://www.iocbc.com/ 2025-01-31
Previous report by OCBC:
2024-11-05 AIMS APAC REIT - Robust Rental Reversion Outweighs Larger Unit Base.
Price targets by other brokers at AIMS APAC REIT Target Prices.
Listing of research reports at AIMS APAC REIT Analyst Reports.
Relevant links:
AIMS APAC REIT Share Price History,
AIMS APAC REIT Announcements,
AIMS APAC REIT Dividend Payout Dates & Corporate Actions,
AIMS APAC REIT News
