Ascott Residence Trust (Ascott REIT)

Ascott REIT DPU grows 5% to 2.15 cents in 4Q, scores another record year of distributable income
SINGAPORE (Jan 29): The manager of Ascott Residence Trust (Ascott REIT) has declared a distribution per unit (DPU) of 2.15 cents for 4Q18, up 5% from 2.04 cents in 4Q17 due to higher revenue. Revenue for 4Q grew 2% to $136.5 million from $134.5 million a year ago, mainly due to additional revenue from Ascott Orchard Singapore, which was acquired in Oct 2017, as well as higher revenue from ...
Ascott REIT good for stable income growth, but lacks catalysts: CGS-CIMB
SINGAPORE (Nov 2): CGS-CIMB Securities continues to rate Ascott Residence Trust (Ascott REIT) at “hold” at an unchanged $1.12 target price on limited re-rating catalysts, after the trust’s latest 9M DPU of 5.01 cents came in line with expectations. To recap, the decline 9M DPU was due to the absence of higher forex gains which were realised in the previous year. Ascott REIT’s DPU for ...
Ascott REIT posts 8% higher 3Q DPU of 1.82 cents on revenue growth
SINGAPORE (Nov 1): The manager of Ascott Residence Trust (Ascott REIT) has reported 3Q18 distribution per unit (DPU) of 1.82 cents, rising 8% from 1.69 cents in 3Q17 on higher revenue.   Revenue for the quarter grew 6% to $134.5 million from a year ago, mainly underpinned by additional revenue from Ascott Orchard Singapore and DoubleTree by Hilton Hotel New York – Times Square South ...
Ascott REIT’s maiden greenfield lyf project to enjoy higher yields
SINGAPORE (Sept 21): Ascott Residence Trust has acquired a prime greenfield site for $62.4 million for its maiden development project. It will build the first co-living property in Singapore’s research and innovation business hub, one-north, Nepal Hill. The property, which will be branded and named as lyf one-north Singapore, has a total of 324 units. Lyf one-north is targeting to achieve ...
Ascott REIT to build 324-unit coliving property at $62.4 mil one-north site
SINGAPORE (Sept 20): Ascott Residence Trust (Ascott REIT) has acquired a prime greenfield site at one-north for $62.4 million to build its first co-living property. To be named lyf one-north Singapore, the property will offer 324 units. It is slated to achieve Temporary Occupation Permit by 2020 and open in 2021. The site is located at Nepal Hill, where there is a thriving research and ...
Acquisitions offset weak organic growth in Ascott REIT but is the selling overdone?
SINGAPORE (July 25): Ascott Residence Trust reported 2Q18 DPU of 1.84 cents. Adjusting for the realised forex gain of $11.9 million, 2Q18 DPU would have registered 13% y-o-y improvement, mainly due to four acquisitions in 2017: Ascott Orchard Singapore, two properties in Germany, and DoubleTree by Hilton Hotel New York. Gross profits from master leases grew 28% y-o-y, mainly due to inorganic ...
Ascott REIT reports flat 2Q18 DPU of 1.84 cents despite higher revenue, gross profit
SINGAPORE (July 24): The manager of Ascott Residence Trust (Ascott REIT) reported a distribution per unit (DPU) of 1.84 cents in 2Q18 ended June, the same as that of 2Q17. 2Q18 revenue grew 6% year-on-year to $130.5 million, lifted by its acquisitions in 2017. Gross profit increased 7% to $63.1 million due to higher revenue. Revenue per available unit (RevPAU) rose 6% to $155 on the back of ...
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 REIT reports 16% rise in 1Q18 distribution to $29.2 mil but DPU falls due to one-offs
SINGAPORE (Apr 18): The manager of Ascott Residence Trust (Ascott REIT) reported a 16% rise in 1Q18 unitholders’ distribution to $29.2 million from 1Q17. However, 1Q18 DPU fell 11% to 1.35 cents from 1.51 cents in 1Q17 due to the effects of the April 2017 rights issue offset by one-off forex and divestment gains from the China properties. Ascott Residence Trust Management (ARTML) said the ...
Ascott REIT 3Q DPU falls 28% to 1.69 cents on one-off items
SINGAPORE (Oct 24): The manager of Ascott Residence Trust (Ascott REIT) has declared a distribution per unit (DPU) of 1.69 cents for the 3Q ended September, down 28% from 2.35 cents a year ago. However, adjusted for one-off items, rights issues and equity placement, DPU would have risen by 1% to 2.18 cents, compared to adjusted DPU of 2.15 cents a year ago. The adjustment excludes one-off ...