DBS Group Research analysts Dale Lai and Derek Tan have maintained their “buy” recommendation with an unchanged target price of $1.40 for AIMS APAC REIT (AA REIT) despite the REIT’s 1Q21 earnings coming in slightly below their forecasts.

For 1Q21, AA REIT posted a 20% decline in distribution per unit (DPU) to 2 cents for 1Q21 ended June, and a 10.9% fall in gross revenue on Thursday (July 23) due to rental waivers, lower contributions, and the expiry of the master lease at 451 Yishun Industrial Park A.

See: AIMS APAC REIT posts 20% y-o-y decline in 1Q21 DPU to 2.00 cents

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