0557 GMT - Daiwa House Logistics Trust's fundamentals still look strong, Daiwa Capital Markets analysts say in a research note as they reiterate their buy rating. The REIT's portfolio is unlikely to face any major operational risks because it is mostly driven by a resilient Japanese market, the analysts say. Its portfolio's occupancy rate is now assumed to be 98%-99% through 2024, versus an assumed structural occupancy rate of 97% previously, the analysts add. However, Daiwa lowers the REIT's target price to S$0.840 from S$0.940 to account for substantial JPY weakness against SGD and a higher Singapore 10-year government-bond yield. Units are 2.9% lower at S$0.675. (ronnie.harui@wsj.com)
$(END)$ Dow Jones Newswires
June 22, 2022 01:57 ET (05:57 GMT)
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