Ascendas REIT

Re: Ascendas REIT

Postby winston » Tue Oct 18, 2011 10:35 am

RESEARCH ALERT-OCBC upgrades A-REIT to buy from hold

SINGAPORE, Oct 18 (Reuters) - OCBC Investment Research upgraded Singapore's Ascendas Real Estate Investment Trust (A-REIT) , which owns industrial properties, to buy from hold and raised its share-price target to S$2.23 from S$2.17.

STATEMENT: OCBC raised its fiscal 2012 forecasts for A-REIT by 2.4-5.7 percent to reflect its strong second-quarter results.

A-REIT said total amount available for distribution increased 14.1 percent to S$70.5 million in the second quarter, helped by higher gross revenue from completion of investment projects. [ID:nSNZ6Vdch3]

"A-REIT continued to deliver during the quarter, despite the current uncertain economic environment," as its occupancy rates improved and it achieved positive rental reversion, OCBC said.

At 0138 GMT, shares of A-REIT were down 0.75 percent at S$1.98. They have fallen about 4.2 percent since the start of the year.

source: Reuters
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Re: Ascendas REIT

Postby winston » Thu May 03, 2012 8:30 am

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Ascendas REIT, an industrial property trust, said on Thursday it plans to raise up to S$306 million ($246.6 million) through a private placement of 150 million new units for between S$1.99 and S$2.04 a unit.

Ascendas, whose units are suspended from trading, last changed hands at S$2.09 a unit.


Source: Reuters
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Re: Ascendas REIT

Postby winston » Fri May 04, 2012 8:43 am

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Ascendas REIT, which owns industrial properties, said on Thursday it had priced its private placement of 150 million new units at S$1.99 each, at the bottom of the S$1.99-S$2.04 indicative range.


Source: Reuters
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Re: Ascendas REIT

Postby winston » Wed Jul 18, 2012 8:54 am

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Ascendas REIT, which owns industrial assets, said its distribution per unit for April-June, rose 10.3 percent to 3.53 Singapore cents from a year ago, helped by positive rental reversions and higher gross revenue due to acquisitions and the completion of development projects.


Source: Reuters
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Re: Ascendas REIT

Postby winston » Wed Jul 18, 2012 9:10 am

Ascendas REIT - No bargains here

With a stable portfolio and balance sheet, AREIT has been a favoured hiding spot for risk-averse investors.

We think that the positives are priced in, particularly as its 1Q3/13 results held no major surprises and its sizeable portfolio leaves limited room for significant growth.

At 26% of our full-year forecast, 1QFY13 DPU was in line with consensus and our estimates.

We keep our DPU forecasts and DDM target price (disc. rate: 8.1%).

The stock remains a Neutral on valuation grounds. Among the large-cap S-REITs, we see more value in CCT.

Source: CIMB
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Re: Ascendas REIT

Postby winston » Thu Oct 18, 2012 12:22 pm

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STOCKS NEWS SINGAPORE-OCBC ups Ascendas REIT target price

OCBC Investment Research raised its target price for Ascendas Real Estate Investment Trust , which owns industrial assets, to S$2.43 from S$2.28 and kept its 'hold' rating, to reflect upgrading works on its assets.

Ascendas REIT units were up 0.4 percent to S$2.49 by 0201 GMT. They have increased 36 percent in value since the start of the year, roughly in line with the FT ST Real Estate Industrial Trust Index's <.FTFSTAS8670> 35.8 percent gain.

Ascendas REIT said on Wednesday its second quarter distribution per unit grew by 4.4 percent year-on-year to 3.53 Singapore cents, helped by positive rental reversion of about 12.8 percent on average.

OCBC noted Ascendas REIT's management expects rents to continue improving. It signed new leases totalling 73,873 square metres of industrial space in the last quarter, while same-store portfolio occupancy improved to 96.6 percent from a year ago, OCBC said, indicating its portfolio continues to be resilient.

Ascendas REIT said it plans to begin upgrading works for two of its industrial properties in Singapore, which will help boost future rents.

Source: Reuters
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Re: Ascendas REIT

Postby winston » Fri Jun 27, 2014 12:33 pm

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High on acquisitions
Price Target : 12-Month S$ 2.51 (Prev S$ 2.47)

• Acquires Hyflux Innovation Centre for S$191.2m
• Value accretive to portfolio; A-REIT to emerge with improved WALE
• BUY, TP S$2.51

Acquisition of Hyflux Innovation Centre. Ascendas REIT (A-REIT) announced the acquisition of Hyflux Innovation Centre located at 80 Bendemeer Road (inclusive of upfront land premium of S$21.2m). This is a high-spec property and is well-located at the fringe of the central business district.

Hyflux Ltd will lease back 50% of the GFA for 15 years upon completion, expected to be in Jun’14. As the property has an occupancy rate of 83.9%; Hyflux will provide income support for the remaining vacant space for three years.

Value accretive to portfolio; impact marginal. We view this acquisition positively as it is:
(i) Anchored by a strong commitment from Hyflux, a tenant with strong credentials, whose long-term lease will lengthen its portfolio lease profile to 3.96 years, and
(ii) At an initial yield of 6.98%, this acquisition is expected to be accretive to earnings, albeit marginally.

Given sufficient debt-headroom, we assume that the acquisition to will fully debt-funded, gearing is expected to increase slightly to 31.4% (our forecast of 33.9% includes assumed acquisition of Aperia by 3Q14).

Maintain BUY, TP raised to S$2.51.

Our earnings and TP are raised marginally to account for this acquisition. A-REIT continues to offer attractive yields of 6.4-6.6%.
Maintain BUY.

Source: DBS
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Re: Ascendas REIT

Postby behappyalways » Mon Apr 27, 2015 4:43 pm

Ascendas REIT braces for headwinds as factories, warehouses lose lustre
http://sbr.com.sg/commercial-property/n ... e-lustre-0
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Re: Ascendas REIT

Postby behappyalways » Sat Jul 28, 2018 5:27 pm

Ascendas REIT to acquire portfolio of 12 UK logistics properties for $373 mil
https://www.theedgesingapore.com/ascend ... es-373-mil
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Re: Ascendas REIT

Postby behappyalways » Sun Sep 09, 2018 1:32 pm

Ascendas REIT plans private placement to raise $450 mil mainly for recent UK acquisition
https://www.theedgesingapore.com/ascend ... cquisition
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