However, the analyst notes that the REIT’s distribution per unit (DPU) declined slightly by 1.1% y-o-y, due to an enlarged unit base following the $100 million amount raised earlier this year.
RHB Bank Singapore analyst Vijay Natarajan has made no changes to his “buy” call and target price of $1.47 for AIM APAC REIT, following the REIT’s 1HFY2024 ended Sept 30 results.
Natarajan notes that the REIT has reported “another strong quarter”, as its 2QFY2024 financials were in line. The REIT’s distributable income rose 7% y-o-y to $36.1 million, driven by healthy operational income growth across its portfolio, which offset its interest cost increase, he says.
