In a Tuesday report, Maybank analyst Chua Su Tye says AREIT continues to be his top sector pick for its strong fundamentals well-supported by its scale; the REIT’s concentrated Singapore business parks / high-specs portfolio; as well as DPU upside from overseas diversification.
SINGAPORE (April 30): Maybank Kim Eng and OCBC Investment Research are maintaining their “buy” and “hold” calls on Ascendas REIT (AREIT) while raising their price target and fair value estimate to $3.20 and $2.74 from the previous $3.10 and $2.64, respectively.
This comes after the REIT manager declared a 4Q19 DPU of 4.1 cents, up 6.1% y-o-y on revenue growth and lower non-property expenses, and in line with both research houses’ expectations.
