UI Boustead REIT - Maybank Research 2026-06-01: Stable Yield, Visible Growth

• We initiate coverage of UI Boustead REIT (SGX:UIBU) with a BUY and DDM-based target price of S$1.03.

• - Read this at SGinvestors.io -

• The sponsor’s expertise as a Pan-Asian industrial real estate platform provides access to inorganic growth. Valuations are attractive versus peers with 8.3% FY27e yield and 0.93x P/B.

High-quality portfolio with blue-chip tenant base

• UIB REIT’s portfolio of 23 assets totalling S$1.9b in developed markets of Singapore and Japan. The portfolio spans 5.3m sq. ft. of NLA and is well diversified across industrial sub-sectors (29.9% logistics, 29.7% business space, 19.1% Hi-specs industrial, 21.3% general industrial).

• - Read this at SGinvestors.io -

• Portfolio occupancy of 89.4% is expected to move to above 95% through lease-up of spaces in Japan. With a long WALE of 5.8 years, built-in rental escalations of 2.8% and occupancy uplift of 1.7%, the portfolio offers visible organic DPU growth of 4.8% for FY27.

Visible pipeline from sponsor

• Read more at SGinvestors.io.

Above is an excerpt from a report by Maybank Research.
Clients of Maybank Securities may be the first to access the full PDF report @ https://www.maybanktrade.com.sg/.

Price targets by 2 other brokers at UIB REIT Target Prices.

Listing of research reports at UIB REIT Analyst Reports.

Relevant links:
UIB REIT Share Price History,
UIB REIT Announcements,
UIB REIT Dividend Payout Dates & Corporate Actions,
UIB REIT News