In a Thursday report, OCBC analyst Deborah Ong says she continues to like Ascott REIT’s portfolio of assets due to its strong brand recognition as well as high geographical diversification.
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 million as at end-2018.
