Ascendas REIT kept at ‘buy’ by DBS with $2.50 target

SINGAPORE (June 13): DBS Group Research has issued a ‘buy’ rating for Ascendas REIT (A-REIT), with a target price of $2.50.

This follows the REIT’s strategy of divesting assets in China due to the lack of sizeable investments in China which means the REIT is unable to realise its investments efficiently.

The $26 million divestment of Jiashan Logistics Centre to Goodman Developments Asia and GCLP Developments No.3 BVI is expected to net A-REIT a gain of about $5.1 million.

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