KWE is AA REIT’s fourth largest tenant, accounting for around 6% of its 1HFY2024 ended Sept 30, 2023 income.
RHB Bank Singapore analyst Vijay Natarajan is keeping “buy” on AIMS APAC REIT (AA REIT) with a higher target price of $1.48 from $1.47. The analyst’s Jan 9 report comes after the REIT two of its master leases on Jan 8, which he sees as a plus. He has also raised his FY2024 to FY2026 earnings estimates by 1% after factoring in the lease extensions.
The master leases were renewed with KWE, a subsidiary of major Japanese freight forwarding and logistics group, Kintetsu World Express, and Aalst Chocolate, a leading chocolate manufacturer and wholly-owned subsidiary of American global food corporation Cargill.
