Stock Name: CACHE
Company Name: CACHE LOGISTICS TRUST
Company Name: CACHE LOGISTICS TRUST
| Research House: OCBC | Price Call: BUY | Target Price: 1.11 |
OCBC Investment Research has cut its target price for Singapore’s Cache Logistics Trust to $1.11 from $1.19, while keeping its buy rating, to reflect the private placement of new units.
Units of Cache were unchanged at $0.995 and have gained 4.8% so far this year.
Last month, Cache Logistics issued 60 million new units at $0.985 each, which saw strong take-up from Asian and European investors, the broker said.
Proceeds will be used to fund the purchase of a Singapore industrial property and the acquisition will give the trust additional debt headroom of $120 million, OCBC said.
“We continue to favour Cache as one of the preferred picks in the industrial REIT (real estate investment trust) space,” it added.
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