Brokers' take

Frasers Logistics & Industrial Trust (FLT) | Buy (maintained) Target price: S$1.20 Sept 3 close: S$1.09 DBS Equity Research, Sept 3

FLT has announced the proposed acquisition of two warehouses in Australia for a combined acquisition price of A$62.6 million (S$61.7 million) with an all-in cost of A$66.7 million.

The first property, located in Wetherill Park, New South Wales (NSW), was acquired for A$31.5 million. The second, in Berrinba, Queensland (QLD) was acquired for A$31.1 million.