RHB Group Research analyst Vijay Natarajan has maintained his “buy” call for ESR-REIT with a higher target price of 54 cents, up from 48 cents previously.

In a Sept 9 research note, Natarajan notes that ESR-REIT’s share price has risen some 17% year-to-date, surpassing the 4% average performance of industrial S-REITs. He attributes this to ESR-REIT’s inclusion into the FTSE EPRA Nareit Global Developed Index.

See also: CGS-CIMB raises TP for ESR-REIT on acquisitions and potential inclusion in FTSE EPRA Nareit Index

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