DBS slashes target price on Cache Logistics Trust on occupancy pressures

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DBS Equity Research has cut its target price on Singapore-listed industrial REIT, Cache Logistics Trust, citing occupancy pressures on the horizon.

The REIT has reported a distribution per unit (DPU) of 1.475 Singapore cents for its 3Q 2018, which is a fall of 4.3% from the 1.541 cents achieved in the corresponding period of 2017.

But amid challenging market conditions, the REIT has also managed to maintain a committed occupancy of 96.9%, with a weighted average lease expiry (WALE) of 3.3 years.

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