0245 GMT - Frasers Logistics & Commercial Trust is likely to acquire more logistics properties, according to the management, UOB Kay Hian's Jonathan Koh says in a research report. The REIT will focus on five core developed markets of Singapore, Australia, Germany, Netherlands and the U.K., the analyst notes. The REIT has completed acquisition of a prime logistics property in Singapore, which offers net property income yield of 6.6%. However, occupancy at the REIT's Alexandra Technopark could fall further in 1Q FY 2025, the analyst says. Although the REIT is working on backfilling vacant space there, competition from other business parks is tough. The brokerage maintains the REIT's buy rating but trims its distribution-per-unit forecast by 3% for FY 2025 and 8% for FY 2026. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
January 05, 2025 21:45 ET (02:45 GMT)
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