ACDSF - Ascendas Real Estate Investment Trust: Positive Rental Reversion Guidance Draws Attention
Elevator Pitch
I maintain my Neutral rating on Singapore-listed industrial REIT Ascendas Real Estate Investment Trust (OTC:ACDSF) [AREIT:SP] or Ascendas REIT.
This is an update of my initiation article on Ascendas REIT published on February 10, 2020. Ascendas REIT's share price has increased by +8% from S$3.27 as of February 5, 2020 to S$3.54 as of July 31, 2020 since my initiation.
Ascendas REIT's 1H 2020 financial results were in line with market expectations, and the REIT's stable portfolio occupancy (91.5% as of June 30, 2020) and positive rental reversions (+5.4% in 1H