Stock Name: Ascendasreit
Company Name: ASCENDAS REAL ESTATE INV TRUST
Research House: DMG
The brokerage said following the placement, Ascendas REIT's gearing will decline to 25.1% from 35%, which implies $1 billion room to borrow more that will allow the REIT to undertake more acquisition and development projects.
Company Name: ASCENDAS REAL ESTATE INV TRUST
Research House: DMG
DMG & Partners has cut its target price for Singapore-listed Ascendas Real Estate Investment Trust (AEMN.SI), which owns industrial assets, to $2.00 from $2.20, but kept its neutral rating.
DMG cut its target price for Ascendas REIT to account for the company's recent private placement of 206 million new shares at $1.94 each.
DMG cut its target price for Ascendas REIT to account for the company's recent private placement of 206 million new shares at $1.94 each.
The brokerage said following the placement, Ascendas REIT's gearing will decline to 25.1% from 35%, which implies $1 billion room to borrow more that will allow the REIT to undertake more acquisition and development projects.
Ascendas REIT said on Monday its fourth quarter distribution per unit jumped 19.8% to 3.27 cents, up from 2.73 cents a year ago, helped by higher gross revenue as new projects were completed.
At 10:31 a.m., shares of Ascendas REIT were 0.51% higher at $1.98 with 5.9 million shares changing hands. The stock has fallen 4.22% since the start of the year.
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