Brokers' take

Ascendas Real Estate Investment Trust | Buy Target price: S$2.65 Dec 6 close: S$2.37 DBS Group Research, Dec 6

Ascendas Real Estate Investment Trust (A-Reit) continues to deepen its exposure to the business parks/science parks space with an acquisition of three properties at a price of S$420 million. The acquisition ticks most of the boxes - long lease tenure (16.5 years with annual escalations of 2.0 per cent to 2.5 per cent), long unexpired land lease tenure (65.7 years) and offers investors a…