Axis REIT Shares Up In Early Trade With Stronger 2Q Earnings
KUALA LUMPUR, July 31 (Bernama) -- Axis Real Estate Investment Trust (Axis-REIT) shares rose in early trade following stronger earnings recorded in the second quarter ended June 30, 2025 (2Q 2025).
At 10.37 am, the counter rose two sen to RM1.99 with a total of 568,400 shares traded.
In a filing with Bursa Malaysia yesterday, Axis-REIT posted a higher net profit of RM46.95 million in the 2Q 2025 compared with RM38.95 million in the same period last year. Revenue also increased to RM90.25 million in 2Q 2025 from RM76.53 million a year ago.
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Kenanga Investment Bank Bhd said in a note today that it does not expect the group to continue acquiring assets in the 2025 financial year (FY2025) as aggressively as in FY2024, given that industrial assets are currently experiencing yield compressions due to landlords raising asset prices at a pace faster than the rate of rental reversions.
'The group will likely see double-digit growth in FY2025 from the accretive asset acquisitions in FY2024 and FY2025.
'Meanwhile, its current gearing ratio of 33 per cent provides approximately RM900 million in additional headroom for future acquisitions,' it said in a note today.
It has maintained a 'market perform' rating on the group with an unchanged target price of RM1.86 per share.
-- BERNAMA
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