Manager Ascott Residence Trust Management Limited (ARTML) noted in its SGX filing on Wednesday that Ascott REIT’s portfolio in Europe is well diversified across the UK, France, Germany, Belgium and Spain, with UK properties forming only 10.2% of Ascott REIT’s total gross profit for 1H16.
SINGAPORE (July 22): OCBC Investment Research is keeping its “buy” recommendation on Ascott Residence Trust (ART), but trimming its fair value estimate to $1.24, from $1.29 previously.
OCBC lead analyst Andy Wong Teck Ching on Thursday said the lower fair value was “to take into account the increased uncertainties on the operating landscape and weaker business sentiment caused by the Brexit vote”.
