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CapitaLand Ascott Trust (CLAS)
Right Timing
Technicals versus fundamentals highlight poor sentiment surrounding acquisitions
Price action suggests investors don't like acquisitions or hints of acquisitions in this part of rate cycle
October 19, 2023
Property
Ascott debuts Crest brand in Asia with three openings in three months
The three newly-opened properties are in Singapore, Indonesia and Malaysia.
October 19, 2023
Broker's Calls
Citi initiates 'buy' on CapitaLand Ascott Trust, 'a lodging giant in the making'
Citi has initiated coverage with a $1.10 target price, lower than CLAS’s trading price before its Aug 3 equity fund raising.
October 12, 2023
REIT Watch
CapitaLand Ascott Trust enters into purchase agreements to acquire properties in London, Dublin and Jakarta
An EGM has been called to seek its shareholders’ approval. It is scheduled to take place at 3pm on Oct 24.
October 09, 2023
REITs
CapitaLand Ascott Trust completes divestment of four properties in France for EUR44.4 mil
Following the completion of the divestment, CLAS has 12 properties in France that are predominantly located in Paris.
September 25, 2023
Broker's Calls
UOB Kay Hian sees ‘seasonally stronger’ 2H2023 and ‘continued recovery’ in 2024 for hospitality REITs
Analyst Jonathan Koh has kept his "buy" call for FEHT, CDLHT and CLAS with target prices of 75 cents, $1.48 and $1.35 respectively
September 22, 2023
Broker's Calls
CGS-CIMB ups CapitaLand Ascott Trust target price after $300 mil equity fundraising, calls acquisitions 'DPU-neutral'
Stapled securities in CLAS closed 9 cents lower, or 8% down, at $1.03 on Aug 3, after CLAS lifted a trading halt.
August 04, 2023
REITs
CapitaLand Ascott Trust closes 8% lower after $300 mil equity fundraising, private placement 2.7 times covered
CLAS’s stapled securities touched a low of $1.02 during trading hours, compared to a previous close of $1.12.
August 03, 2023
Company in the news
SGX-listed companies and trusts see record score in 2023 corporate governance study
Singtel tops the general category while CapitaLand Ascott Trust reigns in the REIT and Business Trusts category.
August 02, 2023
REITs
CapitaLand Ascott Trust’s $300 million EFR follows 2022’s $170 million EFR, may pressure equity prices
Hot on the heels of a $170 million capital raising in Aug 2022, CLAS announced a second major EFR to raise $300 million
August 02, 2023