Brokers' take

Cache Logistics Trust | Reduce

Target price: S$0.74

Feb 27 close: S$0.815

Phillip Securities Research, Feb 27

Cache Logistics Trust announced the proposed acquisition of a warehouse in Melbourne, Australia for A$22.25 million (S$24.2 million). The single-storey warehouse with ancillary office space will be fully-leased to Spotlight Group, a leading retail chain selling fabric, craft and homeware items in Australia, New Zealand and Asia.

The lease term is for another 4.5 years by net lettable area as at Dec 31, 2016, with two 6+6 years renewal options…