Axis Real Estate Investment Trust (“Axis-REIT”), Malaysia’s first real estate investment trust, was listed on Bursa Securities on 3 August 2005. Having been reclassified as an Islamic REIT on 11 December 2008, all acquisitions by Axis-REIT are Shariah compliant. It currently has a diverse portfolio of 62 properties strategically located in the Klang Valley, Johor, Penang, Pahang, Negeri Sembilan and Kedah. Axis REIT Managers Berhad is the Manager of Axis-REIT while RHB Trustees Berhad is the latter’s trustee. Axis-REIT has a solid industrial space portfolio where 93% of the properties are on industrial titles. As at 30 June 2023, the occupancy rate of Axis-REIT’s portfolio stood at 89% with a weighted average lease expiry period of 5 years, based on rental. As at 30 June 2023, the space under management is 12.7 million square feet and total asset value of RM4.4 billion.
Metrics to compare | AXSR | Sector Sector - Average of metrics from a broad group of related Real Estate sector companies | Relationship RelationshipAXSRPeersSector | |
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P/E Ratio | 18.9x | 14.1x | 9.1x | |
PEG Ratio | −1.53 | −0.40 | 0.01 | |
Price/Book | 1.3x | 0.7x | 0.9x | |
Price / LTM Sales | 12.4x | 5.0x | 3.9x | |
Upside (Analyst Target) | 3.4% | 7.4% | 12.6% | |
Fair Value Upside | Unlock | −4.4% | 0.4% | Unlock |