Ascendas India Trust (follow up)

Ascendas India Trust (follow up): off 3.1% at 2-week low of S$0.955 as lower June-quarter payout weighs. JPMorgan has Overweight call with $1.10 target. Notes occupancy level healthy at 97% vs 63%-92% for markets where REITs' properties are located. Says an improving office outlook to keep performance stable. Expects reit to seek more acquisitions, build more properties to drive growth, with capacity to take on up to S$350 million more in debt before reaching gearing limit.