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Brokers' take

Published Thu, Apr 19, 2018 · 09:50 PM
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Ascott Residence Trust | Hold Target price: S$1.16 April 19 close: S$1.14 CGS CIMB Research, April 18

While first quarter is the seasonally weakest, we consider 1Q18 distribution per unit (DPU) of 1.35 Singapore cents (+15 per cent year-on-year), which formed 19 per cent of our full-year forecast, to be a slight miss.

Adjusting for the realised forex gain of S$1.6 million, 1Q18 DPU would have registered a 9 per cent yoy improvement.

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