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Ascendas Hospitality Trust taking rejection in good stride

Gwyneth Yeo
Gwyneth Yeo8/15/2016 11:08 AM GMT+08  • 2 min read
Ascendas Hospitality Trust taking rejection in good stride
SINGAPORE (Aug 15): DBS Group Research is maintaining its “buy” recommendation for Ascendas Hospitality Trust (AHT) with a target price of 80 cents despite its recent share price rally.
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SINGAPORE (Aug 15): DBS Group Research is maintaining its “buy” recommendation for Ascendas Hospitality Trust (AHT) with a target price of 80 cents despite its recent share price rally.

In a Thursday note, lead analyst Mervin Song notes that AHT’s unit price had rallied over the past few months, recovering from the selloff following AHT’s rejection of a takeover offer earlier in the year.

At current levels, Song believes AHT still offers compelling value as it trades at a discount to DBS’s target price and its net asset value per unit of 85 cents, providing a dividend yield of 7.5%.

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