Singapore Stock Market News

Ascott Residence Trust - Fairly valued

StockFanatic
Publish date: Fri, 07 Nov 2014, 02:44 PM
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3Q14 gross revenue and DPU came in at S$93.7m (+8.9% yoy) and 2.11 Scts (-10.8% yoy), respectively. This set of results was in line with our estimates, with 3Q DPU accounting for 25% of our full-year estimate and 9M14 forming 72%. Factoring in the recent acquisitions, associated financing costs and perpetual securities issued, we maintain our Hold rating with an unchanged TP of S$1.30 as we tweaked our FY14/15 DPU forecasts by +0.6%/+1.3%.
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