Ascott Residence Trust (ART) (ASRT.SI), which owns serviced apartments in Europe and Asia, is expanding into growth markets like India and Vietnam as it hopes to double assets over the next five years or so , its chief executive officer said.
Posts Tagged ‘Ascott’
Jan 21: Ascott, K-REIT Asia, ST Engineering
January 21st, 2011 |
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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 dropped 1.1% to 3,205.48.
Ascott Residence Trust (ART SP): The serviced apartment operator partly owned by CapitaLand (CAPL SP) said fourth- quarter distributable income doubled to $23.9 million from $11.5 million a year ago. The stock lost 0.8% to $1.22.
Ascott Residence Trust started at Neutral by Credit Suisse
December 13th, 2010 |
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Credit Suisse starts Ascott Residence Trust (A68U.SG) at Neutral with a $1.30 target price. Says the hospitality REIT’s earnings have become more stable after its recent acquisition of 26 serviced apartments in Europe, with 47% of its EBITDA now derived from stable income vs 4% previously.
Ascott opens first Citadines serviced residence in Jakarta
December 2nd, 2010 |
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CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited, has opened its first Citadines serviced residence in Indonesia.
The new 135-unit Citadines Quartier Jakarta is part of an integrated development that includes an office tower. Situated in the heart of the central business district bordering the quiet Dutch colonial enclave of Menteng, the serviced residence‟s strategic location provides easy access to embassies and government offices as well as landmarks such as the Presidential Place and the National Monument. Museums, shopping malls, supermarkets, dining and entertainment outlets are also conveniently located within the vicinity.
Ascott says no offer received for Ascott Raffles Place Singapore
November 25th, 2010 |
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Ascott Residence Trust said no offer under the right of first refusal has been received to acquire Ascott Raffles Place Singapore and no definitive agreement has been entered into.
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CapitaLand may sell Ascott Raffles Place serviced apartments
November 25th, 2010 |
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CapitaLand, Southeast Asia’s biggest property developer, may sell Ascott Raffles Place, a serviced apartment property in Singapore’s central business district, it said in a statement today.
It said Ascott Residence Trust has the first right of refusal to buy the property.
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The Ascott opens 3 new serviced apartments in China
November 3rd, 2010 |
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CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited, has opened three new serviced residence properties with over 600 apartment units in three cities across China. The 105-unit Somerset International Building Tianjin is Ascott’s latest acquisition through its private equity fund, Ascott China Fund. The 249-unit Citadines Zhuankou Wuhan is Ascott’s first property in Wuhan while the 251-unit Citadines Gaoxin Xi’an is one of the company’s four properties in Xi’an.
Ascott Residence Trust rated ‘buy’ by DBS
October 27th, 2010 |
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DBS Vickers Securities in an Oct 25 research report says: “Ascott REIT (“ARTâ€) topline and gross profit of $43.5 million (+5% y-o-y, +5% q-o-q) and $21.1 million (-6% y-o-y, +2% q-o-q) respectively were in line with expectations.
DBSV keeps Ascott Residence at Buy; 3Q in line
October 25th, 2010 |
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DBS Vickers keeps Ascott Residence Trust (A68U.SG) at Buy with $1.38 target price; says 3Q10 DPU of 1.85 cents in line; topline of $43.5 million, (+5% on year, +5% on quarter), gross profit of S$21.1 million, (down 6% on year, +2% on quarter) also in line.
Big is beautiful for Ascott Residence-OCBC
October 12th, 2010 |
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OCBC keeps Ascott Residence Trust (A68U.SG) at Buy, raises target to $1.38 from $1.33, says Dow Jones.
Says with acquisition of 28 properties from sponsor, will transform from Pan-Asian to international REIT, doubling total asset size to almost $2.85 billion, moving from 12th to 6th largest S-REIT in terms of total asset value.
Ascott REIT issues 67.9m preferential offering new units
October 7th, 2010 |
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Ascott REIT says 67,858,000 preferential offering new units were allotted and issued today.
This brings the total number of units in issue of Ascott REIT to 1,107,098,074.
Ascott REIT also says out of the proceeds of the preferential offering of $72.6 million, $56.3 million has been utilised to part fund target acquisitions; $8.5 million has been utilised and set aside for payment of underwriting expenses and professional and other fees and expenses; and $7.8 million has been set aside for other general corporate and working capital purposes.
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Oct 5: SGX, Ascott REIT, JES, Boustead, Darco, SIA Engineering
October 5th, 2010 |
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Singapore shares may open lower on Tuesday after Wall Street shares fell as investors took profits on recent gains.
Singapore’s benchmark Straits Times Index <.FTSTI> rose 0.85% on Monday to close at 3,157.45 points.
Here are some stocks to watch:
Bourse operator Singapore Exchange (SGXL.SI) may be in focus after it said it achieved record volumes for its gold spot contract, Nikkei dividend and China A50 futures in September. It said the daily average value for securities trading in September was $1.8 billion, 20% higher than a month ago, and the total market capitalisation as at September 30 was $778 billion.
Oct 4: Ascott Residence Trust, Rickmers Maritime, Singapore Exchange
October 4th, 2010 |
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Singapore shares may open higher on Monday after Wall Street extended its rally, led by gains in resource stocks following data in China that showed a pick-up in manufacturing activity. Singapore’s benchmark Straits Times Index <.FTSTI> rose 1.07% on Friday to close at 3,130.90 points.
The Dow Jones industrial average <.DJI> was up 0.39% at 10,829.68. The Standard & Poor’s 500 Index <.SPX> gained 0.44% at 1,146.24. The Nasdaq Composite Index <.IXIC> finished 0.09% higher to close at 2,370.75.
Ascott launches first serviced residence in Dubai
September 29th, 2010 |
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The Ascott Limited, CapitaLand’s wholly-owned serviced residence business unit says it will start operating the 118-unit Ascott Park Place Dubai, its first Ascott-branded services apartments in the United Arab Emirates, from Oct 1.
The premier serviced residence occupies 15 floors of the spectacular 56-storey Park Place Tower, a high-end mixed use development that also comprises Grade A offices with prominent tenants such as Pictet & Cie, The Royal Bank of Scotland and the Hong Kong Trade Development Council.
Ascott +1.7%; Fund raising discounted: Dealer
September 15th, 2010 |
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Ascott Residence Trust (A68U.SG) turns higher, last +1.7% at $1.17 vs down 2.6% at $1.12 earlier, drawing strength from broad market uptick, according to Dow Jones.
“Concerns of dilution and Ascott taking on more risk have been discounted. While having a big exposure to Europe will mean increased forex and operating risks, these have already been captured after the share price fall last month,” says a dealer at local brokerage.
Ascott Residence to raise up to $549.5m in unit sale
September 14th, 2010 |
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Ascott Residence Trust plans to sell as many as 487.5 million units to new and existing unitholders, it said in a statement to the Singapore stock exchange late yesterday. The sale will raise as much as $549.5 million, according to Bloomberg calculations. The trust has requested a trading halt today.
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Sept 14: NOL, Olam, SembMarine, Ascott Residence Trust
September 14th, 2010 |
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Singapore stocks may open higher on Tuesday after Wall Street shares rose to their highest level in five weeks on upbeat Chinese factory data and new global banking rules.
The following companies may have unusual price changes in trading today. Stock symbols are in parentheses, and share prices are from the previous close. Singapore’s Straits Times Index climbed 1.5% to 3,066.81.
Ascott sells $522m worth of units: term sheet
September 13th, 2010 |
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Ascott Residence Trust (ASRT.SI), a REIT unit of The Ascott Ltd, is selling about $522 million worth of new units, according to a term sheet obtained by Reuters on Monday.
The company is selling 487.5 million new units, or 44% of the total number of units which will be in issue immediately after the equity fundraising, the term sheet said.
Of the offering units, the company is selling 419.7 million units by private placement at $1.07 to $1.13 each, and it is also selling 67.86 million units by preferential offering at $1.07 to $1.11 each.
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Ascott Residence upgraded to Outperform by Daiwa
September 3rd, 2010 |
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Daiwa has upgraded Ascott Residence Trust (A68U.SG) to Outperform from Hold on view price attractive after pullback stemming from recent announcement it will acquire 28 serviced-residence properties from parent CapitaLand (C31.SG), says Dow Jones.
“We believe the pricing and market uncertainty ahead of a proposed equity-fundraising exercise may provide an attractive entry point for value investors,” says Daiwa.
Ascott REIT target raised to $1.30 by Morgan Stanley
August 23rd, 2010 |
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Morgan Stanley lifts Ascott Residence Trust (A68U.SG) target price to $1.30 from $1.18, based on discounted cashflow valuation, to factor in value accretion stemming from $969.6 million purchase of 28 serviced residence properties from parent CapitaLand (C31.SG), says Dow Jones.
“We see improved earnings stability from diversification into Europe and from greater earnings contribution from master leases and guaranteed income contracts,” says Morgan Stanley.
But research house trims FY10-FY12 DPU estimates by 7.0%, 6.0%, 7.0% respectively to account for enlarged unit base as ART will partly fund purchase by selling new units. Keeps Equalweight call. Expects equity fund raising to cap any upside in near term.
REIT flat at $1.20.
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