The manager of ESR-REIT on Jan 20 announced that its FY2020 DPU has declined by some 30.2% y-o-y to 2.8 cents, while net property income was 12.6% y-o-y lower at $164.2 million. The lower results were mainly due to the impact of the Covid-19 pandemic.

Despite the lower y-o-y performance, analysts are remaining positive on the REIT as a recovery in underway.

DBS Group Research continues to rate ESR-REIT a “buy” with a higher target price of 45 cents from 43 cents previously.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook