- We remain cautious on IREIT Global due to near-term headwinds from the repositioning of the Berlin Campus and rising financing costs as loans are refinanced early.
FY24 DPU increased 1.6% y-o-y, but below our forecast.
- - Read this at SGinvestors.io -
- Gross revenue surged 16.3% y-o-y to EUR75.6mil, fuelled by a full-year contribution from acquisitions in France, rental escalations across key assets, as well as a one-off dilapidation cost of EUR10.3mil for the Berlin Campus.
- - Read this at SGinvestors.io -
- Distributable income and DPU were further diluted by the retention of the EUR10.3mil dilapidation cost that will be channelled towards the repositioning of the Berlin Campus.
Portfolio occupancy of improved 1.2ppt q-o-q to 88.5%.
- 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 Group Research | https://www.dbs.com/insightsdirect/ 2025-02-28
Previous report by DBS:
2024-08-08 IREIT Global - No Pain, No Gain.
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 Dividend Payout Dates & Corporate Actions,
IREIT Global News
