In a May 8 note, Lai and Tan maintain their “buy” call on AA REIT with a higher target price of $1.60 from $1.40 previously.
Analysts are singing the praises of AIMS APAC REIT (AA REIT) (SGX:O5RU
) following the release of its results for FY2023 ended March 31, with portfolio occupancy at record high.
“AA REIT has a proven track record in carrying out AEIs [asset enhancement initiatives] and redevelopment projects on its existing portfolio to drive organic income growth. Within its current portfolio are several properties that have untapped plot ratio and could generate up to 2.0 million sq ft of additional GFA [gross floor area] that would drive further earnings and valuations growth,” write DBS Group Research analysts Dale Lai and Derek Tan.
