Ascendasreit - Ascendas REIT downgraded to Hold by DBS Vickers

Stock Name: Ascendasreit
Company Name: ASCENDAS REAL ESTATE INV TRUST
Research House: DBS Vickers

DBS Vickers downgrades Ascendas REIT (A17U.SG) to Hold from Buy on view valuations lofty, says Dow Jones.



DBS Vickers says REIT’s diversified exposure, stable yields attractive, but notes limited upside to its $2.11 target price.



Broker cites additional acquisitions, progress on its development projects as potential price catalysts. Notes A-REIT evaluating possible acquisitions, development projects to enlarge portfolio, plans to take on $300 million worth of projects annually.



“Looking ahead, leasing activities should firm further from positive rental reversions as average asking rents remain above expiring rent levels.”



Stock flat at $2.05.