Ascott Residence Trust

OCBC keeps 'overweight' on Singapore hospitality sector as REITs rally

SINGAPORE (Feb 7): OCBC Investment Research is maintaining “overweight” on Singapore’s hospitality space as the sector’s REITs – namely CDL Hospitality Trusts (CDL HT), Ascott Residence Trust (ART) and Far East Hospitality Trust (FEHT) – rally into the new year with total returns of +5.7%, +2.5% and +6.5%, respectively.

The Hour Glass rises on bullish data, but Chew’s calls off sale to third party

(Oct 30): The market is warming up to luxury watch retailer The Hour Glass, which we added to our Singapore Market Portfolio on Oct 10. During the week to Oct 24, the stock rallied 6.2%, on reports that Swiss watch exports to Singapore saw a 90% y-o-y surge in September to CHF179.2 million ($246 million).

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Tepid DPU growth but bond-like stability expected of Ascott Residence: CIMB

SINGAPORE (July 21): CIMB says it is not impressed by Ascott Residence Trust’s 1H17’s operational numbers given flat y-o-y gross profit.

Even though there has been a y-o-y improvement in Europe, gross profit remained behind CIMB’s forecast.

And while 2Q17 DPU of 1.84 cents was ahead of its expectations, this was due to a one-off $11.9 million realised FX gain arising from the repayment of a foreign currency-denominated loan.

Also Ascott Residence recorded a revaluation surplus of $6 million, mostly from the higher valuation of properties in Vietnam and UK.

Will Ascott's third bite of Big Apple taste just as sweet?

SINGAPORE (June 1): DBS Vickers says it is “generally positive” on Ascott Residence Trust’s most recent acquisition given the expected DPU accretion although much will depend on how it is funded.

ART’s manager on Wednesday announced the acquisition of its third property in Manhattan, the DoubleTree by Hilton Hotel New York in Times Square South for a consideration of US$106 million ($148.4 million).

Frasers Centrepoint Limited, Ascott Residence Trust, SATS, USP Group

SINGAPORE (April 17): Here are some stocks that could move the market this Monday morning.

Frasers Property International, a subsidiary of Frasers Centrepoint Limited, is acquiring an 86.56% stake in Geneba Properties N.V. for $471.6 million. Following the acquisition, Frasers Property has also agreed to make an all-cash offer for the remaining 13.44% free-float interest in Geneba at an equivalent offer price of EUR 3.67 per depositary receipt.

Rights issue ‘dilutive to yield and NAV’ for Ascott REIT: Religare

SINGAPORE (March 7): The rights issue by Ascott Residence Trust to raise $442.7 million for the purchase of three properties in Germany and Singapore will be dilutive to both yield and net asset value (NAV) of the REIT, according to a note by Religare Capital Markets.

Another tough operating year ahead for Singapore’s hospitality sector

SINGAPORE (Jan 18): OCBC Investment Research is keeping its “neutral” rating on Singapore’s hospitality sector on expectations of a challenging 2017, but highlighting opportunities for dollar-cost averaging in 2018.

In a Tuesday report, lead analyst Deborah Ong notes a growing proportion of Chinese travellers arriving by land compared to by air – which she thinks could be due to an increase in long-haul flights from Chinese cities to Australia over the last three years.

What Nov's higher visitor arrivals but low RevPAR mean for hospitality REITs

SINGAPORE (Jan 13): Singapore saw 1.2 million visitor arrivals in November, 2.5% higher compared to a year ago, according to the city-state’s tourism board.

In a Friday research note, UOB Kay Hian Research says this was likely due to the end of the Zika virus outbreak.

The research house attributes Oct’s negative growth in visitor arrivals -- a reversal of 9 straight months of growth -- to the outbreak which was first announced in Aug.

Since then, the number of new cases have tapered off, with all clusters now closed.

Hospitality REITs still strong as tourist arrivals in Oct falls for the first time in 2016

SINGAPORE (Dec 29): UOB Kay Hian is keeping its “overweight” call on Singapore real estate investment trusts (REITs) despite visitor arrivals in Oct dipping by 1.6% y-o-y to  1.2 million visitors.

According to the latest statistics released by the Singapore Tourism Board on Dec 28, this marks the first decline in tourist arrivals in 2016, following nine consecutive months of positive visitor growth.

Stocks to buy following Brexit rebound

SINGAPORE (July 18): The STI has rebounded since news of the UK voting in a referendum on June 24 to leave the European Union, suggesting the market has brushed off fears over Brexit.

But UOB Kay Hian warns that “macro risks remain elevated and earnings visibility is limited”.

“Following the news of Brexit on 24 June 2016, the FSSTI retraced 3.2% before rebounding and closing 4.2% higher than pre-Brexit levels,” UOB analyst Andrew Chow says in a report on July 14.

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