Daiwa House Logistics Trust posts positive rent reversions amid softer NPI

Daiwa House Logistics Trust ( (SG:DHLU) ) has shared an update.

Daiwa House Logistics Trust reported a steady first-quarter FY2026 operating profile, with portfolio occupancy at 87.8%, 16 of 19 properties fully leased and a long weighted average lease expiry of 6.3 years underpinned by a diversified tenant base. The manager has already secured one lease renewal and expects another in the second quarter at higher rents, while pursuing new tenants for remaining vacant space.

Net property income in Singapore dollar terms fell 12.4% year-on-year, as vacancies in Japan and weaker foreign currencies offset stable performance in Vietnam, though built-in rent escalations supported cash NPI there. The REIT’s balance sheet remains conservative, with aggregate leverage at 40.6%, an interest coverage ratio of 5.1 times and 99.3% of borrowings on fixed rates, positioning it to navigate rebalancing logistics markets in Japan and Vietnam amid rising Japanese interest-rate pressures and global macro uncertainty.

The most recent analyst rating on (SG:DHLU) stock is a Hold with a S$0.57 price target. To see the full list of analyst forecasts on Daiwa House Logistics Trust stock, see the SG:DHLU Stock Forecast page.

More about Daiwa House Logistics Trust

Daiwa House Logistics Trust is a Singapore-listed real estate investment trust focused on income-producing logistics and industrial properties across Asia. Its portfolio comprises 18 logistics assets in Japan and one in Vietnam, spanning more than 499,000 square metres and supported by sponsor Daiwa House Industry, one of Japan’s largest logistics real estate developers.

Average Trading Volume: 754,315

Technical Sentiment Signal: Sell

Current Market Cap: S$343.4M

For detailed information about DHLU stock, go to TipRanks’ Stock Analysis page.