Maybank Kim Eng analysts Matthew Shim and Chua Su Tye have initiated “buy” on ESR-REIT with a target price of 55 cents, representing a 21% upside on the REIT’s last-closed share price of 46 cents on Aug 15.

In an Aug 16 report, the analysts deem the REIT as a “laggard” among its industrial REIT peers with exposure to logistics and high-spec assets.

For instance, shares in ARA LOGOS Logistics Trust and AIMS APAC REIT are up 49% and 24% year-to-date respectively, while ESR-REIT has only seen a 15% growth.


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