Ascendas REIT May Be Pressured by Rising Utility Rates -- Market Talk

Dow Jones2022-06-14

0203 GMT - Ascendas REIT may be weighed by rising utility rates in the near term, Daiwa Capital analyst David Lum says in a research note. The REIT expects such costs to increase by around 50% in 2022 due to higher electricity rates, the analyst says. Daiwa lowers its estimates for Ascendas' 2022-2024 distribution per unit by 1% after pricing in higher utility rates assumptions, and cuts target price to S$3.05 from S$3.12. However, the Japanese bank maintains an outperform rating, citing Ascendas' diversified industrial-property portfolio and ability to pursue more accretive investments. Units are 1.1% lower at S$2.78. (justina.lee@wsj.com)

$(END)$ Dow Jones Newswires

June 13, 2022 22:03 ET (02:03 GMT)

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gupzbajaj
2022-06-14
gupzbajaj
Hmmm

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