CapitaLand Ascendas REIT's Business-Park Weakness Likely Priced In
Dow Jones
Sep 28
0805 GMT - CapitaLand Ascendas REIT's weakness in its business-park segment has likely been priced into its units, says Morningstar's Xavier Lee in a note, viewing the real-estate investment trust as undervalued. The Singapore REIT's exposure to new economy sectors such as logistics and data centers benefits from strong structural demand, the analyst says. The REIT manager's active portfolio management and capital recycling moves should help to create value for unitholders. CapitaLand Ascendas is among Morningstar's top sector picks. Morningstar retains a 3.00 Singapore dollar fair-value estimate. Units rise 0.4% to S$2.29.
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