Ascott Residence Trust (ART)

SGX explains why Singapore is Asia's largest global REIT platform

(May 6): On March 27, during Manulife US Real Estate Investment Trust’s Investor Day event, Ronald Tan, director of Equity Capital Market at the Singapore Exchange, asked the audience a few questions. It was to gauge the public’s reception to various asset classes. Who would want another office REIT, Tan asked. Almost the entire audience of 400 raised their hands. MUST is an office REIT and the audience comprised MUST unitholders.

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Ascott Residence Trust's 1Q DPU rises 7% to 1.45 cents on improved operating performance

SINGAPORE (April 30): The manager of Ascott Residence Trust (ART) has declared a 1Q19 distribution per unit (DPU) of 1.45 cents, rising 7% on-year from the 1.35 cents it posted a year ago due to better operating performance, lower financing costs and a one-off realised exchange gain.

Revenue for 1Q grew 3% y-o-y to $115.9 million from $112.8 million previously on improved performance from properties across Singapore, Philippines and the UK.

Ascendas Hospitality Trust rejigs portfolio to weather Aussie downdraft

SINGAPORE (Apr 29): Now that the shareholders have approved CapitaLand’s proposed merger with Ascendas-Singbridge, attention may turn to synergies and overlaps in the two companies. In particular, ASB’s hospitality arm, Ascendas Hospitality Trust (AHT), is likely to come under the microscope. The clear overlap in the merged company is ASB’s hospitality business and CapitaLand’s lodging business under The Ascott Ltd and Ascott Residence Trust (ART).

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ART, FEHT downgraded to 'hold' by OCBC; hospitality sector grapples with weak RevPAR

SINGAPORE (Apr 16): OCBC Investment Research has downgraded its recommendations for both Ascott Residence Trust (ART) and Far East Hospitality Trust (FEHT) to “hold” from “buy”, after a strong rally so far this year for the two hospitality REITs.

“ART and FEHT have inched up toward our fair value,” says lead analyst Deborah Ong in a Monday report. “As our fair values for each remain the same, we are downgrading both ART and FEHT today.”

The brokerage has a fair value estimate of $1.25 on ART and a fair value estimate of 68 cents on FEHT.

ART raised to 'buy' by UOB KayHian for disciplined recycling of capital

SINGAPORE (Apr 12): UOB KayHian is raising Ascott Residence Trust (ART) to “buy” with $1.46 target price given it has been disciplined when it comes to recycling capital.

Ascott Residence Trust (ART) invests in income-producing assets used as serviced residences, rental housing and other hospitality assets.

In Jan, it sold premier serviced residence Ascott Raffles Place at $353 million which represents an attractive exit yield of 2% and a divestment gain of $134 million.

Ascott Residence Trust started at 'buy' by Phillip on income stability, inorganic growth

SINGAPORE (Apr 9): Phillip Securities has started Ascott Residence Trust (ART) at ‘buy’ with $1.36 target as the REIT offers income stability and inorganic growth.

ART is an owner-operator of serviced residences with 79 properties totalling 11,430 keys spanning 14 countries.

About 85% of gross profit comes from eight key markets of United States, Japan, UK, France, Vietnam, Singapore, China and Australia.

ART’s serviced residences outside the US are managed under three core brands – Ascott, Citadines and Somerset.

SGX hones ability to scrutinise asset valuations, pressures auditors — will it close the ‘trust deficit’?

SINGAPORE (Feb 4): On Jan 25, Singapore Exchange Regulation (SGX RegCo) briefed several journalists about its plans to play a more active role in determining the scope of statutory audits of locally listed companies, and beef up its capabilities to scrutinise the value of corporate assets.

Consensus keeps Ascott Residence Trust at 'hold' but DBS has it at 'buy'

SINGAPORE (Jan 30): Despite Maybank Kim Eng and consensus maintaining Ascott Residence Trust (ART) given its disappointing DPU performance over the past few years, DBS Group Research is maintaining its “buy” call on the REIT.

While acknowledging the Street’s concerns, DBS analyst Mervin Song says what drives ART’s share price is the REIT’s strategy of selling properties that have limited growth potential and recycling the proceeds into better-yielding assets.

2019 will be a good year for hospitality, but risks from trade tensions remain: OCBC

SINGAPORE (Jan 16): OCBC Investment Research is maintaining “overweight” on Singapore’s hospitality sector as it sees value in some of the hospitality REITs under its coverage at their current unit prices.

OUE Hospitality Trust (OUE HT), Far East Hospitality Trust (FEHT) and Ascott Residence Trust (ART) are OCBC’s top “buy” picks with fair value estimates of 79 cents, 67.5 cents and $1.18, respectively.

Ascott Residence Trust (ART) upgraded to 'buy' by OCBC on 'impressive' sale of Raffles Place property

SINGAPORE (Jan 14): OCBC Investment Research is upgrading Ascott Residence Trust (ART) to “buy” from “hold” given the serviced residences REIT managed to sell Ascott Raffles Place Singapore at significantly above its book value.

Ascott REIT divests Ascott Raffles Place for $353.3 mil; 64% above book value

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