Citi Investment Research in a Jan 27 research report says: “While revenue was up 4% in INR terms due to higher maintenance/operations income, growth was flat in S$ terms, as a result of currency (Rs 33.3 vs Rs 34.5/SGD in Q3Fy10).
Posts Tagged ‘Ascendas’
Jan 27: Ascendas India, City Developments, Osim
January 27th, 2011 |
No Comments
The following companies may have unusual price changes in Singapore trading. Stock symbols are in parentheses, and share prices are from the previous close. Singapore’s Straits Times Index climbed 1.3% to 3,220.78.
Ascendas India Trust (AIT SP): The operator of business parks in India said third-quarter income for distribution fell 7% to $13.2 million from a year ago. The stock gained 0.5% to 96 cents.
HSBC starts Ascendas REIT at Overweight
January 20th, 2011 |
No Comments
HSBC starts Ascendas REIT (A17U.SG) at Overweight, with a $2.36 price target. The house says A-REIT is the “leader of the industrial pack.” It adds, A-REIT has a stable income profile from diversified exposure across industrial property types, tenants and lease tenures.
Credit Suisse downgrades Ascendas REIT to Neutral
January 18th, 2011 |
No Comments
Credit Suisse downgrades Ascendas REIT (A17U.SG) to Neutral from Outperform with 7.0% upside to its $2.33 target. It says the REIT’s 3Q11 DPU of 3.29 cents (+0.6% on-year, flat on-quarter), brings 9M11 DPU to 9.96 cents (down 4.0% on-year), 73% of its FY11 estimate.
Ascendas REIT delivers 3.7% growth in 3Q gross revenue
January 17th, 2011 |
No Comments
Ascendas REIT (A-REIT), the business space and industrial real estate investment trust, says net property and related finance lease interest income increased 3.3% year-on-year to $84.1 million for 3Q FY2010/11.
Distribution Per Unit (DPU) grew by 0.6% year-on-year to 3.29 cents
Ascendas REIT seeks regional investment opportunities in China
November 22nd, 2010 |
No Comments
Ascendas Funds Management (S), the manager of Ascendas Real Estate Investment Trust, says it is actively exploring regional investment opportunities for A-REIT.
Currently, the manager says it is actively exploring investment opportunities in China and has set up a representative office in Shanghai, China to enhance the manager’s visibility in the various business space sub-segments and micro property markets.
Ascendas India Trust rated ‘overweight’ by JP Morgan
October 26th, 2010 |
No Comments
JP Morgan Research in an Oct 22 research report says: “AIT reported 2QFY11 distribution per unit (DPU) of $0.017 per unit, +2% q-o-q. 1H10 dividend of $0.034 implies an annualized yield of 6.5%.
Ascendas India Trust posts 2Q net property income of $29.6m
October 22nd, 2010 |
No Comments
Ascendas India Trust today reported total property income for 1H FY2010/11 ending Sept 30, 2010, was $60.5 million, an increase of 1% from the same period last year. Net property income was $37.1 million, or marginally lower by 1%. In Indian Rupee terms, total property income was 2% higher, while net property income was unchanged in 1H FY2010/11, compared to the year before.
For 2Q FY2010/11, total and net property income were $29.6 million and $18.2 million respectively, or 4% lower than the preceding quarter in both cases.
Oct 19: Ascendas REIT, Golden Agri, M1, Noble
October 19th, 2010 |
No Comments
The following companies may have unusual price changes in Singapore trading. Share prices are from the previous close. Singapore’s Straits Times Index slipped 0.7% to 3,181.27. Singapore’s benchmark Straits Times Index <.FTSTI> fell 0.72% on Monday to 3,181.27 points. Here are some stocks to watch out for, according to Thomson Reuters and Bloomberg.
Palm-oil producers: Nomura Holdings Inc. raised its view on crude-palm-oil stocks to “bullish” after increasing its price forecasts for the commodity by as much as 20%, the brokerage said in a note to clients.
Ascendas REIT posts 3.5% rise in 2Q net property income to $84m
October 18th, 2010 |
No Comments
Ascendas Real Estate Investment Trust has announced a 3.5% year-on-year growth in net property income to $83.9 million for 2Q FY2010/11. Distributable Income rose 0.4% to $61.8 million. DPU for the quarter stands at 3.3 cents.
Ascendas REIT is Singapore’s first listed business space and industrial real estate investment trust. It has a diversified portfolio of 92 properties in Singapore, comprising business and science park properties, hi-tech industrial properties, light industrial properties, and logistics and distribution centres, with total assets of about $4.9 billion.
Ascendas REIT cut to Hold on valuation by Kim Eng
September 14th, 2010 |
No Comments
Kim Eng Securities downgrades Ascendas REIT (A17U.SG) to Hold from Buy on valuation grounds given limited upside to its $2.40 target price, says Dow Jones.
“While we do not expect any decline in capital value in the near term, all the positives seem to have been priced in”, with price trading at 1.4x book.
Kim Eng says outlook for Singapore’s industrial REIT sector muted as “economic data is none too exciting, given that 2Q most likely marked the peak of Singapore’s GDP growth.”
But broker adds upcoming supply of new industrial space shouldn’t pose major risk to Ascendas given its healthy pre-commitment level of 72% as of June. REIT down 3.9% at $2.20.
{jcomments on}
Ascendas REIT raised to Buy by RBS with $2.55 target
September 1st, 2010 |
No Comments
Royal Bank of Scotland upgrades Ascendas REIT (A17U.SG) to Buy from Hold, lifts target price to $2.55 from $2.00 on optimism over Singapore’s industrial property sector, says Dow Jones.
RBS expects hefty rise in Singapore industrial rents following strong growth in manufacturing sector in 1H10: “All signs suggest tenants in A-REIT’s portfolio may look to expand.”
Ascendas India Trust target raised to $1.18 by Citi
August 31st, 2010 |
No Comments
Citigroup lifts Ascendas India Trust (CY6U.SG) target price to $1.18 from $1.05 after adjusting valuation metrics, keeping Buy call, according to Dow Jones.
Citi tips REIT as defensive play on Indian property, offering 12-month yield of 8.0% vs 5.0%-7.0% for Singapore peers. Research house says portfolio vacancy remains low, with income stream steady. Adds, growth opportunities abundant with capacity to develop another 2.5 million sq ft of space at its Bangalore premises.
REIT off 1.0% at $0.96.
{jcomments on}
Ascendas REIT downgraded to Hold by DBS Vickers
August 18th, 2010 |
No Comments
DBS Vickers downgrades Ascendas REIT (A17U.SG) to Hold from Buy on view valuations lofty, says Dow Jones.
DBS Vickers says REIT’s diversified exposure, stable yields attractive, but notes limited upside to its $2.11 target price.
Broker cites additional acquisitions, progress on its development projects as potential price catalysts. Notes A-REIT evaluating possible acquisitions, development projects to enlarge portfolio, plans to take on $300 million worth of projects annually.
“Looking ahead, leasing activities should firm further from positive rental reversions as average asking rents remain above expiring rent levels.”
Stock flat at $2.05.
{jcomments on}
Ascendas India Trust rated ‘overweight’ by JP Morgan
July 28th, 2010 |
No Comments
JP Morgan Research in a July 23 research report says: “AIT reported 1Q FY11 DPU of $0.0166, down 7% q-o-q, primarily on account of realized losses of $0.7 million on forward FX contracts and financial derivatives. Adjusted for these, DPU stood at $0.018 (flat q-o-q) and implying an annualized yield of 7.0%.
Ascendas India down 3.1% as lower DPU weighs
July 26th, 2010 |
No Comments
Ascendas India Trust (CY6U.SG) off 3.1% at two-week low of $0.955 as lower June-quarter payout weighs, says Dow Jones.
Fiscal 1Q11 DPU down 19.0% on-year, down 7.3% on-quarter at 1.66 cents as income available for distribution lowered by FX loss, higher tax expenses.
On brighter note, occupancy level healthy at 97% vs 63%-92% for markets where REITs’ properties are located.
“An improving office outlook should keep performance stable,” says JPMorgan, which has Overweight call with $1.10 target. Ascendas India plans to seek more acquisitions, build more properties to drive growth, with capacity to take on up to $350 million more in debt before reaching gearing limit.
Orderbook quotes suggest price expected to hold above $0.90.
{jcomments on}
Ascendas India Trust posts 4% growth in 1Q total property income of $31m
July 23rd, 2010 |
No Comments
Ascendas India Trust (a-iTrust ) says it achieved $30.9 million in total property income for the first quarter ending 30 June 2010 (1Q FY2010/11), an increase of 4% from the corresponding quarter last year. Net property income was $18.9 million or 3% higher.
Jonathan Yap, Chief Executive Officer of a-iTrust’s trustee-manager, says, “Property income this quarter grew year-on-year, despite total income-producing space in the portfolio remaining stable over this period. We had a healthy level of leasing activities in the first quarter, when 230,000 sq ft worth of leases were finalised, exceeding the 190,000 sq ft of space which expired during this period. Such efforts had ensured that portfolio occupancy rate remain high, at 97%. Upcoming addition of 1.2 million sq ft of new space later this year is expected to further contribute to the expansion of the portfolio income base. The space addition is from Park Square (a retail mall in International Tech Park Park Bangalore (ITPB)) and Zenith (an IT Multi-tenanted Building (MTB) in International Tech Park Chennai (ITPC), for which pre-leasing is in progress.”
Ascendas Reit rated buy by DBS
July 20th, 2010 |
No Comments
DBS Vickers Securities in a July 19 research report says: “1Q11 DPU of 3.37 cents was in line with our expectations. Gross revenues and net property income improved to $113.6 million (+11% y-o-y) and $87.3 million (+8% y-o-y) respectively, mainly due to contributions from recently completed acquisitions & development projects.
Ascendas Reit rated neutral by DMG
July 20th, 2010 |
No Comments
DMG & Partners Research in a July 19 research report says: “A-REIT reported 1QFY11 DPU of 3.37 cents (-6.9% y-o-y; +23.4% q-o-q), representing 25% of our FY11 DPU forecast of 13.7 cents. Net property income rose 8.2% y-o-y contributed mainly from a larger portfolio base and positive rental reversion.
Ascendas Reit rated neutral by CIMB
July 20th, 2010 |
No Comments
CIMB in a July 19 research report says: "1Q11 DPU of 3.49 cents available for distribution met consensus and our expecta cents after retained income. Net property income of $87.3 million (+8.2% yoy) and available distributable income of $65.3 million (+7% yoy) were reported, with growth traced to an enlarged portfolio base of 92 properties vs. 86 a year ago.