Ascott REIT kept at 'buy' with higher fair value price of $1.49

Stock Name: Ascott Reit
Company Name: ASCOTT RESIDENCE TRUST

Research House: OCBC

Price Call: BUY

Target Price: 1.49

SINGAPORE (Jan 23): OCBC Investment Research has raised its fair value estimate for Ascott Residence Trust (ART) to $1.49 from $1.37 to reflect its resilient business model and geographical diversification in a challenging global macroeconomic environment.

For 4QFY14, ART reported an increase in revenue of 13.2% y-o-y to $95 million, while DPU jumped 62.4% to 2.16 cents. For the whole year, revenue climbed 12.8% to $357.2 million.