Following the completion of its merger in April, E-LOG now has $5.5 billion in AUM compared to ESR-REIT’s $3.3 billion in AUM. The $2.2 billion worth of additional assets are in “good locations” in Singapore and Australia, which would help E-LOG gain a “stronger foothold” in key Australian markets, Li points out.
Maybank Securities has re-initiated “buy” on ESR-LOGOS REIT (E-LOG) with a target price of 55 cents, representing an upside of 42% from the REIT’s last-traded price of 41 cents.
“E-LOG has emerged from its merger with ARA Logos Logistics Trust (ALOG) as one of the top 10 Singapore REITs (S-REITs) by free float, with higher contributions from new-economy assets under management (AUM),” writes analyst Li Jialin on Aug 24.
