Ascendas REIT - CIMB Research 2015-10-23: Stable outlook
Ascendas REIT ASCENDAS REAL ESTATE INV TRUST A17U.SI Ascendas REIT - Stable outlook
- 2Q DPU boosted by healthy organic growth and one-off distribution of S$6.5m.
- Positive rental reversions across all property segments, uplift sustained into 2H.
- AEIs in China and Singapore to provide another avenue of growth.
- Greater impact of contributions from Australian portfolio acquisition to be felt from FY17.
- Maintain Add, with an unchanged target price of S$2.57.
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