0615 GMT - ESR-REIT's revenue is likely to be weighed this year after the larger-than-expected divestment leaves it with fewer assets, say CGS International's Li Jialin and Lock Mun Yee in a note. The REIT sold around S$455 million of assets, larger than the S$200 million target for 2025 guided earlier, the analysts note. While this would bring the real-estate investment trust's gearing below 40%, fewer assets are likely to leave a gap in the trust's income. The analysts trim their 2026-2027 revenue estimates by 12%-13%. CGS International cuts its target price to S$3.43 from S$3.64 and maintains its add rating as it notes that the trust's manager is eyeing assets worth up to S$500 million and could buy assets in Japan this year. Units are down 0.4% at S$2.69. (megan.cheah@wsj.com)

(END) Dow Jones Newswires

February 06, 2026 01:15 ET (06:15 GMT)

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