Stock Name: Ascendasreit
Company Name: ASCENDAS REAL ESTATE INV TRUST
With the acquisition, Ascendas has fully deployed the $400 million capital it raised in March, and the trust’s focus on the business park segment will help to improve its earnings growth for the next three years, the brokerage said.
Company Name: ASCENDAS REAL ESTATE INV TRUST
| Research House: JP Morgan Chase | Price Call: BUY | Target Price: 2.25 |
JPMorgan has raised its target price for Ascendas Real Estate Investment Trust (AEMN.SI), which owns industrial properties, to $2.25 from $2.15 and kept its neutral rating.
JPMorgan has raised its distribution per unit estimates for Ascendas REIT in 2012-2014 by 1-2% to reflect its acquisition of Nordic European Centre, a business park in Singapore, for $122 million.
JPMorgan has raised its distribution per unit estimates for Ascendas REIT in 2012-2014 by 1-2% to reflect its acquisition of Nordic European Centre, a business park in Singapore, for $122 million.
With the acquisition, Ascendas has fully deployed the $400 million capital it raised in March, and the trust’s focus on the business park segment will help to improve its earnings growth for the next three years, the brokerage said.
Shares of Ascendas have gained 4% since the start of the year to close at $2.15 on Friday.
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