0755 GMT - CapitaLand Ascendas REIT seems well placed to weather challenges, based on its 2022 results, RHB Research analyst Vijay Natarajan says in a research note. Supported by a strong industrial market, the REIT's occupancy stands at a 10-year high, together with solid rent growth and a bright outlook, the analyst says. The REIT's relatively low gearing and diverse portfolio puts it in a strong position to selectively acquire, divest and tap asset redevelopment and rejuvenation opportunities, the analyst adds. RHB raises the REIT's target price to S$3.25 from S$3.15 while maintaining a buy rating. Units are 2.0% lower at S$2.94. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
February 06, 2023 02:55 ET (07:55 GMT)
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