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DBS bullish on Ascendas India Trust as ‘rebound gains momentum’

Lim Hui Jie
Lim Hui Jie8/5/2022 01:34 PM GMT+08  • 3 min read
DBS bullish on Ascendas India Trust as ‘rebound gains momentum’
International Tech Park Bangalore. Photo: Ascendas India Trust
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DBS’s Derek Tan and Dale Lai have maintained their “buy” call and target price of $1.70 on Ascendas India Trust (a-iTrust), noting the REIT’s increased DPU and stronger performance for its 1HFY2022 ended June.

a-iTrust reported a 2% y-o-y rise in DPU to 4.28 cents, forming 51% of DBS’s full-year estimates.

Compared to 2HFY2021, DPU was 19% higher, and this was due to an approximately 8% rise in revenue and net property income to $103.3 million and $83.4 million.

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