Ascendas REIT: DBSV downgrades to Hold from Buy on view valuations lofty. Says REIT's diversified exposure, stable yields attractive, but notes limited upside to its $2.11 target price.
Expects leasing activities to firm further on positive rental reversions. Catalysts to come from portfolio expansion via additional acquisitions, progress on its development projects, as AReit plans to take on $300m worth of projects annually.
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