Morningstar - Ascendas Real Estate Investment Trust (A17U) AREIT seeks diversification through international expansion into developed markets.

Report

Morningstar

Ken Foong

EUR 100.00 For Business Accounts Only

AREIT seeks diversification through international expansion into developed markets.

We are transferring coverage of Ascendas Real Estate Investment Trust, or AREIT, with no-moat and stable moat trend ratings, along with a fair value estimate of SGD 2.45 per unit. Our fair value estimate implies a P/E ratio of 15.1 times and an enterprise value/EBITDA ratio of 18.8 times in fiscal 2018 (March year-end). Ascendasâ€™s third-quarter fiscal 2018 results were slightly below our expectations. Net property income increased by just 1.7% year over year to SGD 157.6 million, while gross rev...

24/04/2018 13 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.

See profile

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.

See profile

Analysts

Ken Foong

Other Reports on these Companies

UOB

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

We are cautiously optimistic that inflation would ease gradually in 1H23. The external environment remains uncertain with geopolitical rivalries persisting. We focus on defensive S-REITs with resilient balance sheets. S-REITs would benefit from the easing of interest rates in 2024 in the event economic growth slows down or falters. Maintain OVERWEIGHT. BUY CLAS (Target: S$1.39), CLAR (Target: S$3.30), FLT (Target: S$1.56) and MLT (Target: S$1.99).

April 4, 2023 April 4, 2023 1 EN

UOB

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

Our Alpha Picks portfolio easily surpassed the STI by 8.0ppt on an equal-weighted basis in Mar 23. For 1Q23, our portfolio rose 9.1%, materially outpacing the STI’s 0.2% gain. For Apr 23, we add OCBC, LREIT, AZTECH and SMM. We have also taken profit on GENS as it has done well since its inclusion and is close to our target price. Our Alpha Picks portfolio has beaten the STI in 12 out of the past 13 months.

April 3, 2023 April 3, 2023 1 EN

UOB

REITs - S-REITs Monthly Update (Feb 23)

We are cautiously optimistic that inflation would ease albeit gradually. The external environment remains uncertain with geopolitical rivalry persisting. Thus, we advocate focusing on S-REITs with resilient balance sheets that can weather a protracted period of elevated interest rates. Maintain OVERWEIGHT. BUY CLAS (Target: S$1.39), CLAR (Target: S$3.30), FLT (Target: S$1.56) and MLT (Target: S$1.99).

March 2, 2023 March 2, 2023 1 EN

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

Contract manufacturer Lonza reported solid half-year results, with over CHF 2.9 billion in total sales year to date, up about 6.4% from last year and boosted by foreign exchange tailwinds. Core EBITDA margin expanded 30 basis points from last year to about 27.8%, helped slightly by new accounting standards. Management indicated that it continues to expect mid- to high-single-digit sales growth in 2019. We are maintaining our fair value estimate of CHF 210 per share and our no-moat rating. The ph...

EUR 100.00

July 25, 2019 July 25, 2019 13 EN

Damien Conover

Damien Conover

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

We don't expect any major changes to our AstraZeneca fair value estimate following second-quarter results that largely fell in line with our expectations and slightly ahead of consensus expectations. Overall, the company is posting leading Big Pharma sales growth with total sales up 18% operationally year over year, led by impressive cancer drug sales growth of 57%. Astra's ability to continue to bring next generation drugs to the market that address unmet medical need (especially in oncology) s...

EUR 100.00

July 25, 2019 July 25, 2019 14 EN

Damien Conover

Damien Conover

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

EUR 100.00

July 25, 2019 July 25, 2019 14 EN

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?

Almost there...

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

In order to access this report please create an account.

LOGIN

AREIT seeks diversification through international expansion into developed markets.

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

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

Sign-up for free to access full reports immediately

ResearchPool Subscriptions

Get the most out of your insights

Why subscribe?

How to subscribe

ResearchPool Subscriptions

This report is only available to subscribers

Why subscribe?

How to subscribe