0200 GMT - Frasers Logistics & Commercial Trust could benefit from its proposed logistics property acquisition, DBS Group Research analysts write. The acquisition of 2 Tuas South Link 1 marks the REIT's expansion into Singapore's logistics market, they say, noting the proximity to Tuas Mega Port could lead to increased demand and higher rental rates. Although the weighted average lease expiry currently appears low, DBS thinks the REIT will be able to retain tenants and increase occupancy, due to the limited supply of quality prime logistics facilities in the area. DBS maintains the REIT's buy rating and target price of S$1.44. Units are last at S$1.14. (amanda.lee@wsj.com)
(END) Dow Jones Newswires
October 17, 2024 22:00 ET (02:00 GMT)
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