Creating value through M&A would be a ‘leap of faith’ for ESR-REIT

SINGAPORE (July 7): Daiwa Capital Markets is maintaining its “hold” call on ESR-REIT – formerly known as Cambridge Industrial Trust (CIT) – with an unchanged target price of 57 cents after its recent meeting with the REIT’s management and its newly appointed CEO, Adrian Chui.

See: Cambridge Industrial Trust changes its name to ESR-REIT

In a Wednesday report, analyst David Lum says the REIT looks fully valued on its existing portfolio, and any potential value creation of merger and acquisition (M&A) activity or leveraging on its sponsor’s network would be a leap of faith, in his opinion.

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