Basic Profile & Key Statistics
ESR-REIT is previously known as Cambridge Industrial Trust, renamed in June 2017 after ESR acquired a dominant stake in Cambridge Industrial Trust. Subsequently, ESR-REIT merged with Viva Industrial Trust in October 2018 and again announced another merger news with Sabana REIT this week. ESR-REIT adopted half-yearly reporting but maintain its quarterly distribution.
Lease Profile
Occupany is slightly low at 91.1%. Both WALE and weighted average land lease expiry are short at 3.4 years and 28.82 years respectively. The highest lease expiry of 23.4% fall in the year 2022, which is close to SREITs median level.
Debt Profile
Gearing is high at 41.8%. Cost of debt is high at 3.5% but all of its debts are unsecured debt. Fixed rate debt of 88.3% is high. Interest cover ratio is low at only 3.4 times. WADE at 2.7 years is close to SREITs median. The highest debt maturity of 32.7% fall in the year 2023, which is also close to SREITs median level....