DBS has maintained a ‘Buy’ rating on Singapore-listed industrial REIT, Frasers Logistics & Industrial Trust, citing low gearing, and strong pipeline of acquisition opportunities.
The Australia-focused REIT reported results for 1 January - 31 March 2017 on 5 May, beating DPU forecast for the period by 6.7%.
Correspondingly gross revenue and net property income for the period beat expectations by 1.6% and 0.3% at AUD40.9 million (USD30.2 million) and AUD30.9 million respectively.
The REIT also reported an occupancy of 99.3% with a weighted average lease expiry (WALE) of 6.7 years.
“Its low leverage of 28.9% remains at the lower end of peer average of 33-34%”, said DBS.
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