Axis REIT Outlook Seen Supported by Acquisitions, Occupancy Recovery
Dow Jones
1 hour ago
0418 GMT - Axis Real Estate Investment Trust's outlook could remain positive, supported by acquisitions and an expected recovery in occupancy to around 96%-97% by end-2026, Maybank IB analyst Nur Farah Syifaa says in a note. Its portfolio is expected to expand to 73-74 properties from 71 currently, with a further 250 million ringgit of acquisitions under negotiation, she says. While near-term earnings remain affected by vacancies and lost rental income from Wisma Kemajuan following a fire, the analyst expects a recovery as occupancy improves and acquisitions are completed. Maybank maintains a buy rating on Axis REIT and keeps the target price at 2.30 ringgit. Units are unchanged at 1.84 ringgit.
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