Axis-REIT seen as a reliable defensive play

Kenanga Research, in its report on Axis-REIT, said the company’s bottom line increased by 29.3% despite higher financing cost ( 7.3%), in tandem with higher borrowings for new acquisitions.

PETALING JAYA: Axis Real Estate Investment Trust (Axis-REIT) is looking like a reliable defensive play, as its first half-year (1H) results match analyst expectations on strong occupancy rates and growth driven by acquisition of new assets.

The REIT’s 1H earnings of RM81.5mil came in within RHB Research’s estimates and market expectations at 52% of its full-year forecast and full-year consensus estimates, respectively.