When denominated in yen, DLHT's revenue and net property income gained by 4.7% and 4.6% y-o-y, thanks to the full-year contributions from properties acquired in December 2022, but lower in Singdollar, the reporting currency.
Dale Lai and Derek Tan of DBS Group Research have kept their "buy" call on Daiwa House Logistics Trust (SGX:DHLU
) , but with a trimmed target price partly to take into account the yen that has remained weak.
For FY2023, the owner of a portfolio of logistics assets in Japan has reported a distribution per unit of 5.22 cents, 2.4% better than what the DBS analysts were expecting.
