Company Name: ASCENDAS REAL ESTATE INV TRUST
|Research House: DBS Vickers||Price Call: BUY||Target Price: 2.49|
SINGAPORE (Oct 24): DBS Group Research has maintained its "buy" call for Ascendas REIT (A-REIT) with a lower target price of $2.49.
In an Oct 24 report, DBS says the improved take-up rate at newly acquired properties and plans for AEIs could underpin A-REIT's growth from 2H15 onwards.
In 2Q15, A-REIT announced a DPU of 3.66 cents which came in line within DBS's expectations.
Gross revenues and net property income were 9% and 7% higher respectively, due to acquisitions while supported by positive rental reversions of around 6.8%.