SINGAPORE (Jan 18): CIMB Research is maintaining its “add” call on ESR-REIT while raising its target price on the trust to 64 cents from 63 cents previously on lower cost of equity of 8.1% from 8.5% previously.
This comes after ESR-REIT’s FY17 distribution per unit (DPU) came in line with both consensus and the research house’s expectations, at 98% of the latter’s full-year forecast.
See: ESR-REIT posts 6.7% lower in 4Q17 DPU of 0.929 cent
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