Ascendas Real Estate Investment Trust (AReit)is the largest Industrial REIT listed on SGX, with total assets worth $10.4 billion as at 30 Jun 2018. It is a constituent of Straits Times Index, and also the largest REIT in Singapore, with 132 properties and a tenant base of 1,310 international and local companies from a wide range of industries.

AReit had been actively managing its portfolio by divesting assets above valuation and entering new markets to expand its revenue base. Just recently, it announced an acquisition deal for assets purchase in United Kingdom (UK).

With its first quarter FY18 earnings announced recently, let’s take a look at its performance to determine if it’s a good investment.

Overall

Source: Ascendas REIT 1Q FY18/19 Earnings Presentation

In quarter one FY18, AReit revenue grew 1.5% year-on-year (yoy) to $216 million. Net Property Income increased by a larger margin of 3.8% to ...