SGX Stocks and Warrants

Author: kimeng   |   Latest post: Thu, 15 Mar 2018, 09:35 AM


Ascott Residence Trust: Fairly Valued; 1Q Results Within Expectations

Author:   |    Publish date:

Ascott Residence Trust’s (ART) 1Q17 revenue increased 5.4% YoY to S$111.3m, mainly due to additional revenue of S$5.8m from the acquisition of Sheraton Tribeca New York last year which was partially offset by the decline in revenue of S$1.8m from existing properties (mainly Singapore and the UK).

Gross profit fell 2.9% YoY to S$47.2m despite the increase in revenue largely due to the recognition of operating lease expense on a straight-line basis in the United States.

The amount distributable to unitholders’ dropped 8.0% YoY to S$25.1m, while DPU dropped 13.7% YoY from 1.75 S cents in 1Q16 to 1.51 S cents in 1Q17. This makes up 24.7% of our full-year DPU forecast, and we consider the results to be within expectations. Stripping out the net realized exchange gain of S$3.0m, 1Q16 DPU would have been 1.57 S cents.

We are maintaining our HOLD rating on ART, but put our fair value of S$1.105 under review pending more details.

Source: OCBC Research - 21 Apr 2017

Share this
Labels: Ascott Reit

Related Stocks

Chart Stock Name Last Change Volume 
Ascott Reit 1.16 -0.01 (0.85%) 65,000 

Market Buzz

Date Type Subject
19-Mar-2018 Announcement Annual General Meeting::Voluntary
19-Mar-2018 Announcement Annual Reports and Related Documents::

  Be the first to like this.


91  57  164  742 

Top 10 Active Counters
 IS MS INDIA US$ 8.48-0.04 
 LION-PHILLIP .. 1.012-0.003 
 STI ETF 3.49-0.01 
 IS ASIA HYG US$ 10.46-0.04 
 CRAW 0.099+0.003 
 HSI32000MBeCW.. 0.039-0.011 
 Lyxor Europe US$ 15.39-0.05 
 IPCO Intl^ 0.0030.00 
 CQZW 0.096-0.01 
 CRKW 0.148+0.005 
Partners & Brokers