Macquarie Research has raised its rating on Ascendas Real Estate Investment Trust (A-Reit) to 'outperform' from 'neutral' and increased the property trust's target price to $3.17 (US$2.17) from $2.84. 'The shares have corrected 20 per cent since July 2007 and offer good value with total return of more than 35 per cent, making it one of the most attractive Singapore Reits,' Macquarie analyst Tuck Yin Soong said.
Macquarie also said it expects A-Reit's distribution per unit to grow 12 per cent this year. -- REUTERS
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