While its occupancy rate should drop by some 11% in 4QFY2022 due to the exit of a tenant, management is in talks with several tenants and expects to backfill some space, he adds. “IREIT is the best positioned among S-REITs against rate hikes, with no debt maturity and a near-full hedge until November 2026.”
IREIT Global is “relatively well-shielded” with a strong balance sheet and no debts maturing until November 2026, notes RHB Group Research analyst Vijay Natarajan.
IREIT’s 3QFY2022 ended September update shows that it continues to rise above market challenges, with occupancy rate growth and rental rate escalations kicking in, says Natarajan in a Nov 14 note.
