The REIT declared an amount available for distribution of $86.3 million in 1HFY2024, down 15.0% y-o-y, translating into distribution per unit (DPU) of 1.122 cents, down 18.6% y-o-y.
Analysts are positive on ESR-LOGOS REIT (SGX:J91U
) (E-LOG), following the REIT's 1HFY2024 results ended June 30. RHB Bank Singapore analyst Vijay Natarajan has tweaked his target price moving it from 34 cents to 35 cents, while Maybank Securities' Li Jialin keeps his target price unchanged at 32 cents. Both keep their “buy” calls.
Although the 1HFY2024 results “missed expectations” on lower-than-expected income top ups, Natarajan says that the REIT’s proposal to acquire two sponsor assets checks all the right boxes in its long-term portfolio rebalancing strategy.
