Ascott Residence Trust (ART)

Is Ascott Residence Trust's Raffles Place divestment a bane or a boon?
SINGAPORE (Jan 10): OCBC Investment Research is upgrading its call on Ascott Residence Trust (Ascott REIT) to “buy” from “hold” upon raising its fair value estimate for the REIT to $1.18. The move comes after adjusting for its divestment of Ascott Raffles Place Singapore at 2 Finlayson Green for $353.3 million – representing a 64.3% premium to the property’s valuation of $215 ...
Ascott REIT divests Ascott Raffles Place for $353.3 mil; 64% above book value
SINGAPORE (Jan 9): Ascott Residence Trust (Ascott REIT) on Wednesday entered into a sale and purchase agreement to divest Ascott Rafles Place Singapore for a consideration of $353.3 million. The buyer is said to be investor Cheong Sim Lam, whose family developed International Plaza and the Hyatt Regency Singapore. Located at 2 Finlayson Green, the consideration is at a 64% premium over the ...
Organic weakness and lower than expected income from recent buys to blame for ART's disappointing 1Q
SINGAPORE (Apr 19): Analysts were slightly disappointed with Ascott Residence Trust’s 1Q results which came in weaker than expected. Revenue increased by $1.5 million or 1.4% y-o-y to $112.8 million mainly due to $8.3 million additional revenue from last year’s acquisitions, offset by a $4.0 million decrease in revenue from divestments and another $2.8 million from existing ...
Ascott Residence Trust's rally still has legs, says DBS
SINGAPORE (Jan 29): DBS Research Group is maintaining its "buy" call on Ascott Residence Trust (ART) with a revised target price of $1.34. After the completion of the recent rights issue to fund the acquisition of Ascott Orchard Singapore, ART's unit price has since rallied by over 10% but DBS believes the rally still has legs. "With the Singapore hospitality market expected to stage a ...
Singapore hospitality sector poised for a good 2018 ahead
SINGAPORE (Dec 1): OCBC Investment Research is maintaining a “neutral” rating on Singapore’s hospitality sector, given currently rich valuations. For the four counters – Ascott Residence Trust (ART), Far East Hospitality Trust (FEHT), OUE Hospitality Trust (OUEHT) and CDL Hospitality Trust (CDLHT) – that the research house covers, 3Q17 y-o-y growth in hotel RevPAR ranged between ...
Ascott Residence Trust reaps rewards of geographical diversification
SINGAPORE (Oct 25): DBS is maintaining its “hold” call on Ascott Residence Trust even as the hospitality trust reaps the rewards of diversification and posted 3Q17 results that came within expectations. To recap, ART’s 3Q revenue rose 2.4% to $126.9 million or 25% of DBS’ full-year forecast, mainly due to the additional revenue of $4.9 million from the acquisitions of DoubleTree by ...
OCBC positive on Ascott REIT first rating of BBB from Fitch's
SINGAPORE (Oct 2): OCBC Investment Research is keeping Ascott Residence Trust on “hold” with an unchanged fair value estimate of $1.10. In its initial coverage, Fitch Ratings last week assigned ART a long-term issuer default rating (IDR) of ‘BBB’ with a stable outlook. The rates ART well alongside peers such as CDL Hospitality Trusts (CDLHT, BBB-/Stable) and Mapletree Industrial ...
Ascott Residence Trust gets 'BBB' rating for first time from Fitch
SINGAPORE (Sept 26): Fitch Ratings has assigned Ascott Residence Trust (ART) a long-term issuer default rating (IDR) of ‘BBB’ with a stable outlook. A ‘BBB’ senior unsecured rating was also assigned to ART and its $1 billion multicurrency outstanding medium-term notes programme. ART's 'BBB' long-term IDR is driven by its strong business risk profile, which is underpinned by its ...
Ascott Residence Trust completes acquisition of Doubletree by Hilton New York – Times Square South
SINGAPORE (Aug 17): The manager of Ascott Residence Trust (ART), Ascott Residence Trust Management, says the REIT’s acquisition of DoubleTree by Hilton New York – Times Square South in New York, US, has been completed. Ascott Residence Trust Management is an indirect wholly-owned subsidiary of CapitaLand. See: Ascott Residence Trust acquires Doubletree by Hilton hotel in Manhattan for ...
Hospitality REITs to face increased competition from private residences offering short-term rental
SINGAPORE (July 4): OCBC continues to remain “neutral” on Singapore’s hospitality sector given the recent compression in yields, while highlighting OUE Hospitality Trust (OUEHT) as its top and only “buy” pick with a fair value estimate of 75 cents. This comes after the Urban Redevelopment Authority (URA) last Friday passed a new legislation that reduces the minimum stay duration for ...