Aims APAC REIT (AAREIT)

RHB analyst says the REIT has reported “another strong quarter”, but expects a slight decline due to earnings drag for the FY2024.

AA REIT’s FY2023 revenue grew 17.6% y-o-y to $167.4 million and net property income (NPI) grew 18.7% y-o-y to $122.5 million.

The analysts have upped their target price to $1.50, with the projected increase in DPU and higher earnings from the acquisitions.

The property, which is located in the Jurong West Logistics Cluster, will be acquired at an initial net property income (NPI) yield of 7.07%. The yield is based on the property’s NPI of $9.2 million in its first year of ownership.

KGI Securities has issued an unrated report on AA REIT following its 1Q21 results on July 23.

SINGAPORE (Dec 9): On the back of a slew of mergers and acquisitions among Singapore’s real estate investment trusts (S-REITs), UOB Kay Hian believes there could well be more consolidation of smaller S-REITs to come.

SINGAPORE (Apr 17): The managers of AIMS APAC REIT (AA REIT), Cache Logistics Trust (Cache) and Mapletree Logistics (MLT) announced separately on Tuesday night that CWT has so far not defaulted on its rental payments under their respective lease agreement

SINGAPORE (Apr 16): CWT International (CWTI), controlled by Chinese conglomerate HNA Group which is facing liquidity challenges, on Tuesday announced it has failed to pay accrued interests and fees to lenders totalling HK$63 million ($10.9 million) which