The revenue and NPI were below Lock and Ong’s expectations at 71% of their FY2024 estimates. The analysts have forecasted E-LOG to report revenue of $382.5 million in the FY2024 and NPI of $270.6 million.
CGS International (CGSI) analysts Lock Mun Yee and Natalie Ong have maintained their “add” call on ESR-LOGOS REIT (SGX:J91U
) (E-LOG), with an unchanged target price of 36 cents, even though the REIT’s 9MFY2024 ended Sept 30 numbers stood below their expectations.
In its interim business update, E-LOG reported a 6.3% and 6.5% y-o-y decline in 9MFY2024 gross revenue and net property income (NPI) to $272.5 million and $192.7 million, respectively, due to the divestment of non-core assets.
