About 69.2% of its tenants operate in industries like electronics and IT, automotive, aerospace & avionics, life sciences, precision engineering, information & communication technology and e-commerce.
UOB Kay Hian's Jonathan Koh has initiated coverage on UI Boustead REIT with a "buy" call and $1.16 target price, with a view that it benefits from long-term leases with reputable blue chip tenants, and of course, an attractive yield of 8.2% for FY2027.
UIBREIT, which went public less than two months ago, owns a portfolio that comprises 23 properties, including 21 leasehold assets in Singapore and two freehold assets in Japan.
