Despite a “weaker overall performance”, CGS-CIMB analysts Eing Kar Mei and Lock Mun Yee believe 2Q20 was the worst quarter for the trust.
Analysts from DBS, CGS-CIMB and Maybank Kim Eng have maintained their “buy” or “add” calls on Ascott Residences Trust (ART) at target prices of $1.10, $1.08 and $1.05 respectively following its results release on July 28.
DBS Group Research analyst Derek Tan said despite its earnings miss in 1H20, ART’s appetite for portfolio rejuvenation remains robust despite on-going headwinds, powered by a debt headroom of above $1 billion.
