CapitaLand Ascendas REIT Likely Planning to Expand in New Economy Assets -- Market Talk

Dow Jones2023-02-08

0209 GMT - CapitaLand Ascendas REIT is likely planning to expand in new economy assets including logistics properties, according to management, says UOB Kay Hian analyst Jonathan Koh in a research report. The REIT's move comes as many companies are ramping up their logistics capabilities to build resilience in their supply chains, the analyst says. Management has also guided for mid-single digit rental reversion for 2023, with new acquisitions likely to contribute to growth this year, the analyst adds. The brokerage raises the unit's target price to S$3.30 from S$3.27 while maintaining a buy rating. The units are 0.7% lower at S$2.89. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

February 07, 2023 21:09 ET (02:09 GMT)

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