tiprankstipranks
Trending News
More News >

Positive Outlook for Ascott Residence: Boost from Lady Gaga’s Concerts and Strategic Initiatives

Positive Outlook for Ascott Residence: Boost from Lady Gaga’s Concerts and Strategic Initiatives

Ascott Residence (ATTRFResearch Report), the Real Estate sector company, was revisited by a Wall Street analyst today. Analyst Lock Mun Yee from CGS-CIMB reiterated a Buy rating on the stock and has a S$1.13 price target.

Confident Investing Starts Here:

Lock Mun Yee has given his Buy rating due to a combination of factors that suggest a positive outlook for Ascott Residence. The announcement of Lady Gaga’s concerts in Singapore is expected to boost hospitality REITs, including Ascott, as it could draw regional visitors and increase hotel occupancy. Additionally, the Singapore Tourism Board’s data indicating strong international visitor arrivals and high hotel RevPAR supports the potential for sustained demand in the hospitality sector.
Furthermore, Ascott’s strategic initiatives, such as ongoing asset enhancement initiatives (AEI) and recent acquisitions in Japan, are likely to enhance its core distribution per share (DPS) over the next two years. The management’s commitment to portfolio reconstitution and the promising post-AEI yields from properties in London and Sydney further strengthen the growth prospects. Despite some adjustments in DPS forecasts, these developments collectively underpin the Buy recommendation, with potential re-rating catalysts including faster-than-expected AEI completion.

According to TipRanks, Mun Yee is a 2-star analyst with an average return of -0.8% and a 39.58% success rate. Mun Yee covers the Real Estate sector, focusing on stocks such as Keppel DC REIT, Mapletree Industrial, and Ascott Residence.

Disclaimer & Disclosure

Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.

Report an Issue