0347 GMT - Far East Hospitality Trust's maiden overseas acquisition in Japan could expose it to more investment opportunities in a large developed market across multiple cities, says CGS International. The REIT recently announced that it will acquire Four Points by Sheraton Nagoya in Japan, analyst Lock Mun Yee writes in a note. With the acquisition, the REIT is entering a new phase of inorganic growth, on top of organic growth driven by its Singapore portfolio, she says. CGS International is positive on the transaction as the acquisition is in line with the management's strategy of diversifying into Japan. CGS raises the REIT's target price to S$0.75 from S$0.74, while maintaining an add rating. Units are flat at S$0.56.(amanda.lee@wsj.com)
(END) Dow Jones Newswires
February 24, 2025 22:47 ET (03:47 GMT)
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