Ascendas REIT (A-REIT)

CapitaLand dips its toes into new asset classes such as Jewel and multifamily housing as ASB merger is approved

SINGAPORE (Apr 22): Jewel Changi Airport — Singapore’s newest integrated development by CapitaLand and Changi Airport — is quite the talk of the town with its waterfall, jungle, shops, eateries and a YOTELAIR. It houses more than 2,000 trees and palms and over 100,000 shrubs. These plants comprise about 120 species and originate from countries such as Australia, China, Malaysia, Spain, Thailand and the US. There are two 100-year-old olive trees on Level 5.

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Ascendas REIT remains best proxy to the burgeoning S-REIT space: Maybank

SINGAPORE (April 4): Maybank Kim Eng is remaining “positive” on the Singapore REIT (S-REITs) sector on expectations of continued outperformance, while highlighting Ascendas REIT (A-REIT) as the best proxy to overall recovery across S-REITs.  

The research house has adjusted its FY19-21 distribution per unit (DPU) estimates by between -2% and +4%. It is also raising its target prices by 2-9% after adjusting for interest rate assumptions, although operating estimates remain mostly unchanged ahead of S-REITs’ results reporting over the coming weeks.

5 recommendations by Maybank as the S-REIT space eases into recovery mode

SINGAPORE (Feb 28): Maybank Kim Eng is remaining “positive” on the Singapore REIT space as it believes sector valuations will remain supported by recovering distributions per unit (DPUs), especially for hospitality; increased traction of capital recycling initiatives and acquisition momentum; and a backdrop of a slower rate hike cycle.

S-REITs poised to ride on wings of dovish Fed

SINGAPORE (Feb 11): DBS Group Research is keeping its “overweight” rating on Singapore REITs following more dovish comments from the US Federal Reserve.

In a statement on Jan 30, the US central bank said it “will be patient as it determines what future adjustments to the target range for the federal funds rate may be appropriate”.

Notably, the Fed also discarded its promise of “further gradual increases” in interest rates.

Market observers say this could point to an end to its tightening cycle amid signs of slowing global growth.

Ascendas REIT set to thrive on overseas initiatives & new Grab project, says Maybank

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.

Ascendas REIT posts 0.7% higher 3Q DPU of 3.998 cents; secures $181.2 mil BTS project from Grab

SINGAPORE (Jan 30): The manager of Ascendas REIT (A-REIT) reported a 3Q19 distribution per unit (DPU) of 3.998 cents, growing 0.7% from 3.97 cents a year ago after taking into account an enlarged number of units in issue.

The growth in DPU was mainly attributed to contributions from both newly-acquired and redeveloped properties.

Ascendas REIT kept at ‘buy’ by analysts on overseas diversification

SINGAPORE (Oct 26): Ascendas REIT (A-REIT) reported 2Q19 DPU of 3.887 cents, –4.2% y-o-y driven by lower occupancy in Singapore, additional interest expense and expanded number of units.

See: Ascendas REIT declares 4.2% lower 2Q DPU of 3.887 cents on lower contribution from Singapore, higher expenses

Jefferies keeps Ascendas REIT at 'buy' on expansion of UK presence

SINGAPORE (Oct 2): Ascendas REIT is buying another portfolio of 26 logistics properties in the United Kingdom for $461 million despite Brexit-linked uncertainty.

See: Ascendas REIT enlarges UK portfolio with $459 mil acquisition of logistics properties

Ascendas REIT enlarges UK portfolio with $459 mil acquisition of logistics properties

SINGAPORE (Sept 29): Ascendas REIT is scaling up its portfolio in the UK with the proposed acquisition of a portfolio of 26 logistics properties for £257.5 million ($459.2 million).

The properties are well-located in key logistics locations with about 70% of the portfolio’s gross internal area situated within the West Midlands, an important logistics hub located at the centre of UK’s motorway network.

Ascendas REIT plans private placement to raise $450 mil mainly for recent UK acquisition

SINGAPORE (Sept 6): Ascendas REIT is raising gross proceeds of no less than $450 million in a private placement to raise funds for acquisitions and a new development.

The private placement will sell about 178 million new units in Ascendas REITs to institutional and other investors at an issue price of between $2.528 and $2.606.

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