0730 GMT - Daiwa House Logistics Trust may face rivalry from Japan-listed Daiwa House REIT Investment Corp., say Daiwa Capital Markets analysts in a research report. Daiwa House REIT recently acquired DPL Tsukuba Yatabe, one of DHLT's pipeline assets, spurring the analysts' concerns that the acquisition of DHLT's assets may not be a 'one-off' and may complicate and dilute DHLT's own acquisition strategy. DHLT remains a pure-logistics property REIT, but should now trade at a higher yield spread owing to more complex and opaque relationship with DHR, they add. The analysts downgrade DHLT's unit's rating to outperform from buy and cut the target price to S$0.79 from S$0.86. The units are 2.1% lower at S$0.695. (ronnie.harui@wsj.com)
$(END)$ Dow Jones Newswires
August 23, 2022 03:30 ET (07:30 GMT)
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