Morningstar - Ascendas Real Estate Investment Trust (A17U) AREIT 2Q 2018 Result: Positive Rental Reversions and Resilient Occupancy Level

Report

Morningstar

Michael Wu

EUR 101.80 For Business Accounts Only

AREIT 2Q 2018 Result: Positive Rental Reversions and Resilient Occupancy Level

No-moat Ascendas Real Estate Investment Trust's second-quarter result was in line with expectations, with positive rental reversions offsetting slightly lower occupancy for the Australia portfolio. There is no change to our view on AREIT, and the trust continues to trade on a premium to our unchanged fair value estimate of SGD 2.56. Despite the loss of its CEO Chia Nam Toon this month, we do not expect a change in the trust's expansive strategy. The trust added another asset in Queensland Austra...

31/10/2017 12 EN

Underlying

Ascendas Real Estate Investment Trust

Ascendas Real Estate Investment Trust is a business space and industrial real estate investment trust. Co.'s principal activity is to invest in a portfolio of properties and property related assets. Co.'s portfolio comprises the following segments: business and science parks, hi-tech industrial properties/data centres, light industrial properties/flatted factories, logistics and distribution centres, and warehouse retail facilities. As of Mar 31 2012, Co. had a portfolio of 101 properties in Singapore and one property in China that comprised a business park property in Beijing.

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SG1M77906915 Singapore Exchange Singapore

Provider

Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

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Analysts

Michael Wu

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AREIT 2Q 2018 Result: Positive Rental Reversions and Resilient Occupancy Level

REITs – Singapore: S-REITs Monthly Update (Mar 23)

Strategy - Alpha Picks: Adding OCBC, LREIT, AZTECH and SMM While Taking Profit On GENS

REITs - S-REITs Monthly Update (Feb 23)

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

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