SINGAPORE (Jan 31): Maybank Kim Eng continues to rate Ascendas REIT (A-REIT) at “buy” with an unchanged price target of $2.95, while highlighting the trust as its top S-REIT pick due to its scale, and as the best proxy to recovering sector fundamentals.
This comes after the trust’s manager yesterday posted 3Q19 DPU of 3.998 cents, up 0.7% from 3.97 cents a year ago and in line with Maybank estimates.
In a Thursday report, analyst Chua Su Tye says the DPU accretion – while marginal – bolsters A-REIT’s Singapore business park assets under management (AUM) by 5%.
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