Growth was underpinned by an 11.7% y-o-y increase in rental reversion, a 3 percentage point (ppts) y-o-y rise in net property income (NPI) margin and inorganic contributions.
Analyst Liu Miaomiao of Maybank Securities is keeping her “buy” call on ESR-REIT at an unchanged target price of $3.00 following the REIT’s FY2025 ended December 2025 results.
In the period, ESR-REIT’s dividend per unit (DPU) grew 3.4% y-o-y to 21.44 cents.

