Home Capital Broker's Calls

This is one misunderstood hospitality REIT

PC Lee
PC Lee6/19/2017 10:58 AM GMT+08  • 2 min read
This is one misunderstood hospitality REIT
SINGAPORE (June 19): DBS Group Research is maintaining its “buy” on Ascendas Hospitality Trust with a revised target price of 88 cents given its attractive yield and discount to book value.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (June 19): DBS Group Research is maintaining its “buy” on Ascendas Hospitality Trust with a revised target price of 88 cents given its attractive yield and discount to book value.

“We believe at current level, Ascendas Hospitality offers a compelling yield in excess of 7% which is based on a 95% payout ratio,” says lead analyst Mervin Song in a Monday report, “In addition, the stock trades at a discount to its NAV per unit of 92 cents.”

Song says Ascendas Hospitality has often been mistaken as a Singapore-focused hospitality REIT when 87% of the trust’s FY17 NPI are sourced outside Singapore and contribution from its sole Singapore property is derived from a fixed rental income stream.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.