InvestIdeas

Ascendas REIT prices $300 mil green perpetual securities, first in Asia
https://www.theedgesingapore.com/news/r ... first-asia

not vested

Ascendas REIT (AREIT SP): Shifting to higher gear

Acceleration in DPU growth to drive share price rally

Acquisition momentum reactivated, more to come as the REIT looks to diversify its earnings base

Redevelopment of science park an interesting prospect that is overlooked by the market

Attractive yield compared to peers; BUY

Source: DBS

https://researchwise.dbsvresearch.com/R ... =fhfbbkhab

not vested

Ascendas REIT (AREIT SP) - Good entry point

Ascendas REIT (AREIT) is the largest listed industrial REIT on the Singapore Exchange based on asset size and market capitalisation.

It has significant exposure to the business & science parks segment, where there is limited upcoming supply.

AREIT also has assets in Australia and UK, and completed the acquisition of a portfolio of 28 business park properties in the US in Dec 2019, which marks its maiden entry into this market.

AREIT has a diversified pool of quality tenants and its sponsor is CapitaLand Limited. BUY.

Source: OCBC

not vested

ASCENDAS REIT (AREIT SP)
Recommendation : BUY
Fair Value : SGD 3.92


PROPOSED ACQUISITIONS AND MORE TO COME

Proposed acquisition of two office buildings in San Francisco

Potential acquisitions of data centre portfolio acquisition in Europe and suburban office in Australia

Equity fund raising exercising to raise S$1.2b

Ascendas REIT (AREIT) is the largest listed industrial REIT on the Singapore Exchange based on asset size and market capitalisation.

It has significant exposure to the business & science parks segment, where there is limited upcoming supply.

AREIT also has assets in Australia and UK, and completed the acquisition of a portfolio of 28 business park properties in the US in Dec 2019, which marks its maiden entry into this market.

AREIT has a diversified pool of quality tenants and its sponsor is CapitaLand Limited.

Source: OCBC

not vested

Ascendas REIT
Acquisitions galore

Proposed acquisition of US properties, potential purchases in Europe and Australia.

AREIT announced S$1,200m equity fund raising to part fund these purchases.

Reiterate Add with DDM-based TP of S$3.20.

Source: CIMB

https://rfs.cgs-cimb.com/api/download?f ... d0b4afd221

Ascendas REIT (AREIT SP)
First Acquisition Finalised; Awaiting Details Of Two Other Acquisitions

AREIT has launched an equity fundraising exercise to raise S$1.2b to partially finance three acquisitions.

The first acquisition of two office properties in San Francisco is estimated to be accretive to DPU by 0.85% if funded by 50% equity and 50% debt.

The second and third acquisitions involving data centres in Europe and suburban office property in Australia are subject to completion of negotiations with the vendor and satisfactory due diligence.

Maintain BUY. Target price: S$3.68.

Source: UOBKH

https://research.uobkayhian.com/content ... 0eb07f487f

Ascendas REIT to buy Sydney property for $284 million
https://www.theedgesingapore.com/news/r ... 84-million

Ascendas REIT is buying new Aussie logistics property for $69.1 mil
https://www.theedgesingapore.com/news/c ... ty-691-mil

not vested

Ascendas REIT
Diversified, resilient portfolio

2H/FY20 DPU of 7.418/14.688 Scts were broadly within our expectations, at
49.3%/97.7% of our FY20F forecast.

Stable operating performance, plans to buy European data centre portfolio remain.

Reiterate Add with a DDM-based TP of S$3.25.

Source: CIMB

https://rfs.cgs-cimb.com/api/download?f ... B92D267C56

not vested

Ascendas REIT (AREIT SP)
2H20: Deleveraged And Well Positioned For Further Expansion

AREIT’s 2H20 DPU of 7.418 S cents met our expectations.

Accretive overseas acquisitions and positive rental reversion from business park properties in the US have generated healthy growth.

Management maintained guidance of positive low single digit rental reversion for full-year 2021.

We like AREIT for its quality tenant base and geographical diversification.

The stock provides stable and resilient distribution yield of 5%.

Maintain BUY with target price of S$3.68.

Source: UOBKH

https://research.uobkayhian.com/content ... d7a15006f8