Ascendas REIT (AREIT SP) - RHB Securities 2015-10-07: Reiterate BUY recommendation with TP of SGD2.35

Ascendas REIT (AREIT SP) - RHB Securities 2015-10-07: Reiterate BUY recommendation with TP of SGD2.35 ASCENDAS REAL ESTATE INV TRUST A17U.SI 

AREIT - Reiterate BUY recommendation with TP of SGD2.35

  • AREIT (AREIT SP) secured SGD300m worth of subordinated perpetual securities that pays a distribution rate of 4.75%. 
  • Despite being slightly high on its rates, we would like to reiterate that this initiative is still a cheaper alternative to rising more equity from unitholders. 
  • Overall, we like the Australian portfolio acquisition which was announced three weeks ago as we expect a 3.0% uplift to DPU. 
  • We reiterate our BUY recommendation with a TP of SGD2.35.


Ivan looi RHB Securities | Ong Kian Lin RHB Securities | http://www.rhbgroub.com/ 2015-10-07
RHB Securities SGX Stock Analyst Report BUY Maintain BUY 2.35 Same 2.35


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