KUALA LUMPUR (Jan 18): AXIS Real Estate Investment Trust (Axis REIT) shares advanced on Wednesday after the company said it has targeted to increase its total assets portfolio from RM1.28 billion at end-2011 to RM2 billion by 2013.
At 10.55am, Axis REIT added three sen to RM2.73 with 5,000 units done.
Axis REIT said on Tuesday that in the immediate term, it expects its portfolio increase to about RM1.4 billion once it completes two property acquisitions at the end of this month.
Axis REIT has identified PROPERTIES [] worth RM545.3 million for possible acquisitions and is conducting due diligence on a number of them.
RHB Research maintained its Market Perform rating on Axis REIT and raised its fair value for the stock to RM2.72 from RM2.70 previously.
“Our EPS forecasts have been revised slightly by 0.8-1.1% for FY12-14 after we factor in lower interest expenses,” the research house said on Wednesday.
At 10.55am, Axis REIT added three sen to RM2.73 with 5,000 units done.
Axis REIT said on Tuesday that in the immediate term, it expects its portfolio increase to about RM1.4 billion once it completes two property acquisitions at the end of this month.
Axis REIT has identified PROPERTIES [] worth RM545.3 million for possible acquisitions and is conducting due diligence on a number of them.
RHB Research maintained its Market Perform rating on Axis REIT and raised its fair value for the stock to RM2.72 from RM2.70 previously.
“Our EPS forecasts have been revised slightly by 0.8-1.1% for FY12-14 after we factor in lower interest expenses,” the research house said on Wednesday.
