This REIT is having a prosperous start to the new year with a new sponsor

SINGAPORE (Jan 26): DBS Group Research has upgraded Cambridge Industrial Trust to a “buy” rating with a higher target price from 54 cents to 60 cents, after the REIT had a change of sponsor to e-Shang Redwood.

DBS’ analyst Derek Tan noted that Cambridge’s new sponsor is a logistics developer and operator in North Asia and believes that there could be greater synergies between the two entities going forward.

On the other hand, the REIT is currently undergoing a portfolio repositioning involving asset enhancement initiatives and divestments to allow it to invest in higher yielding assets. At the same time, it has had to seek new acquisition targets in Australia after its Australian partner termination their joint venture.

---

Related Stories

• Brokers’ Digest: CDL, PropNex, PLife REIT, KIT, SingPost, Grand Banks Yachts, Nio, Frencken, ST Engineering, UOB
• Prospects of better FY2025 earnings inspire new ideas for ThaiBev
• Lim & Tan Securities maintains ‘buy’ on Grand Banks Yachts; almost doubles TP to $1.05

---