Ascott Residence Trust

Re: Ascott Residence Trust

Postby winston » Wed Oct 24, 2012 9:16 am

not vested

ASCOTT RESIDENCE TRUST The REIT's revenue rose 6 percent to S$77.4 million in July-September and unitholders' distribution edged up 1 percent to S$25.6 million.

Distribution per unit was 2.24 cents.

The company expects earnings to improve further after the addition of three prime assets to its portfolio.


Source: Reuters
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Re: Ascott Residence Trust

Postby winston » Wed Aug 24, 2016 9:42 pm

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Ascott REIT’s total assets have quadrupled to over S$4.9 billion since it was listed on the Singapore Exchange Securities Trading Limited (“SGX-ST”) in March 2006, making it the largest hospitality real estate investment trust listed on SGX-ST.

Ascott REIT’s international portfolio comprises 90 properties with 11,649 units in 38 cities across 14 countries in the Americas, Asia Pacific and Europe.

Ascott REIT was awarded ‘Best REIT (Asia)’ by World Finance magazine at its Real Estate Awards in 2015.

Ascott REIT’s serviced residences are operated under the Ascott, Citadines and Somerset brands, and are mainly located in key gateway cities such as Barcelona, Berlin, Brussels, Guangzhou, Hanoi, Ho Chi Minh City, Jakarta, Kuala Lumpur, London, Manila, Munich, New York, Paris, Perth, Shanghai, Singapore and Tokyo.

Source: UOBKH
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Re: Ascott Residence Trust

Postby winston » Fri Oct 21, 2016 1:29 pm

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Unrealised potential


Diversified portfolio underpins resilience.

We maintain our BUY recommendation on Ascott Residence Trust (ART) with revised TP of S$1.32.

Amid the volatility in the Singapore hospitalitymarket, we believe ART’s diversified portfolio with serviced residences and rental housing across 14 countries in the Asia Pacific, Europe and the US, offers investors a more resilient DPU outlook.

ART’s resiliency and cashflow visibility also comes from having 40-50% of its income sourced from master leases and management contracts with minimum guaranteed income.


Value from recent acquisitions/AEIs yet to be fully realised.

ART has announced c.S$1.2bn worth of acquisitions over the last two years, increasing the value of its assets under management
(AUM) by one-third to S$5bn. Combined with completed and ongoing asset enhancement initiatives (AEIs), ART should
progressively realise benefits over the next few years.


Divestments to strengthen balance sheet.

ART’s headline gearing of c.41% is slightly elevated and we are mindful of ART’s adjusted gearing (treating 50% of perpetual securities as debt) which stands at 42-44%. However, we understand this is temporary as ART is reviewing its portfolio mix, and looking to divest some of its lower yielding properties.


Valuation:

To incorporate the realised forex gains in 3Q16 and lower assumed interest rates given prospects of achieving interest
savings as ART refinances its borrowings over the next couple of years, partially offset by moderation of average daily rate
(ADR) growth in Japan due to potential impact of the recent strengthening of the JPY, we raised our FY16-17F DPU by 1-5%.

We have also raised our DCF-based TP to S$1.32 from S$1.31.


Key Risks to Our View:
Oversupply and forex volatility. The key risk to our call is potential oversupply in ART’s key markets as well as impact from forex volatility. These risks are mitigated by ART’s diversified portfolio with no country contributing more than 20% of the group’s net property income.

Source: DBS

https://researchwise.dbsvresearch.com/R ... E=cchhck-b
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Re: Ascott Residence Trust

Postby helios » Sat Feb 25, 2017 7:19 pm

Was thinking of a REITs play now.
Any recommendation? ascott ??
[Finance disclaimer: The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought regarding investing of any stocks/ funds and/or whatsoever. The author has no vested interest in the mentioned stock at the time of writing.
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Re: Ascott Residence Trust

Postby behappyalways » Sat Sep 22, 2018 6:07 pm

Ascott REIT to build 324-unit coliving property at $62.4 mil one-north site
https://www.theedgesingapore.com/ascott ... north-site
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Re: Ascott Residence Trust

Postby behappyalways » Wed Jan 09, 2019 7:36 pm

Ascott REIT divests Ascott Raffles Place for $353.3 mil
https://www.theedgesingapore.com/ascott ... e-3533-mil
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