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Ascendas REIT ASCENDAS REAL ESTATE INV TRUST A17U.SI Ascendas REIT - Beat Expectations
- 2Q results beat expectations on the back of stronger than expected rent reversions from business parks.
- FY16-18 DPU forecasts raised by 4-6%. Growth will largely be due to new Australian logistics assets.
- Yield target tightened by 25bp to 7%, TP raised 9.6% to SGD2.28. Maintain HOLD.
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