0217 GMT - IREIT Global faces an earnings hit from headwinds at its Berlin Campus in Germany, DBS Group Research analysts say in a research report. The REIT is repositioning its Berlin Campus, a process that could take 18-24 months, the analysts say. The property was vacated as of end-December, and repositioning work is likely to start in 2Q, they say. This could result in a substantial revenue absence, though the repositioning exercise will likely create long-term value for the REIT's portfolio and is projected to more than double rents once completed. Additionally, the REIT faces rising financing costs as loans are refinanced early, they add. DBS cuts the REIT's target price to S$0.25 from S$0.33 while maintaining an unchanged hold rating. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
March 02, 2025 21:17 ET (02:17 GMT)
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