Stock Name: Ascendasreit
Company Name: ASCENDAS REAL ESTATE INV TRUST
DBS Vickers Securities in a July 8 research report says: "Ascendas REIT announced the acquisition of Nordic European Centre - a 7 Storey business park building located in International Business Park within the Jurong Lake District masterplan.
"Initial yield is estimated to be c6.0%; accretive to earnings. This compares favorably against the current NPI yield of c.5.9% on its portfolio of Business Parks assets, based on latest valuation and reported numbers by the REIT.
"The acquisition is relatively small in comparison to its portfolio, and DPU is estimated to increase by only c 0.02 cents or <1%. We have assumed $200 million worth of acquisitions in our numbers for FY2012. Target price of $2.14. MAINTAIN HOLD."
Company Name: ASCENDAS REAL ESTATE INV TRUST
| Research House: DBS Vickers | Price Call: HOLD | Target Price: 2.14 |
DBS Vickers Securities in a July 8 research report says: "Ascendas REIT announced the acquisition of Nordic European Centre - a 7 Storey business park building located in International Business Park within the Jurong Lake District masterplan.
"Initial yield is estimated to be c6.0%; accretive to earnings. This compares favorably against the current NPI yield of c.5.9% on its portfolio of Business Parks assets, based on latest valuation and reported numbers by the REIT.
"The acquisition is relatively small in comparison to its portfolio, and DPU is estimated to increase by only c 0.02 cents or <1%. We have assumed $200 million worth of acquisitions in our numbers for FY2012. Target price of $2.14. MAINTAIN HOLD."
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