Natarasjan notes that the stake increase by AA REIT’s sponsor is a “positive move” and “a show of confidence” in the REIT’s long-term prospects.
Analyst Vijay Natarajan of RHB Bank Singapore (RHB) is keeping his “buy” call on AIMS APAC REIT (AA REIT) with a higher target price of $1.52 from $1.48 previously.
The upgrade comes after the REIT’s sponsor, AIMS Financial Group, recently increased its stake to 18.66% by purchasing an additional 57 million shares at $1.19 per unit from substantial shareholder ESR Group (ESR).
