Singapore Stock Market News

Ascendas REIT - Quality holding

StockFanatic
Publish date: Wed, 17 Jul 2013, 04:03 PM
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There were no major surprises in 1QFY14 as results were in line and management continues to make headway on leasing at new investments and seeks growth through asset enhancements. AREIT's asset leverage of 28.6% leaves room for growth via acquisitions and developments.

1QFY14's DPU met consensus and our expectations, forming 25% of our full-year estimates. We keep our FY14 DPU estimates and DDM-based target price (discount rate of 7.2%) unchanged. We maintain our Outperform rating, with the catalysts of accretive AEI and asset developments.
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