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    HMN   SGXC16332337

ASCOTT RESIDENCE TRUST

(HMN)
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Ascott Residence Trust agreed to acquire Property in Champaign, Illinois 61820, U.S. for $83.3 million.

11/01/2021 EST

Ascott Residence Trust (SGX:HMN) agreed to acquire Property in Champaign, Illinois 61820, U.S. for $83.3 million on November 1, 2021. The consideration is fully satisfied in cash. Based on the independent valuation dated 29 October 2021 by Colliers International Valuation and Advisory Services LLC, commissioned by DBS Trustee Limited, in its capacity as trustee of Ascott Reit, the Property is valued at $86.4 million (equivalent to approximately S$116.6 million) using the income, sales comparison and cost methods. 2.0% of the Purchase Consideration will be paid within 2 days from execution of the Sale and Purchase Agreement and the remainder of the Purchase Consideration, subject to adjustments, will be paid on completion of the Acquisition (?Completion?). Completion is subject to and conditional upon, the fulfilment of the conditions precedent in the Sale and Purchase Agreement and is expected to take place in around mid-November 2021.


ę S&P Capital IQ 2021
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Financials
Sales 2021 421 M 312 M 312 M
Net income 2021 160 M 118 M 118 M
Net Debt 2021 2 100 M 1 556 M 1 556 M
P/E ratio 2021 24,9x
Yield 2021 3,88%
Capitalization 3 473 M 2 576 M 2 574 M
EV / Sales 2021 13,2x
EV / Sales 2022 10,6x
Nbr of Employees -
Free-Float 98,9%
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Mean consensus OUTPERFORM
Number of Analysts 11
Last Close Price 1,06 SGD
Average target price 1,16 SGD
Spread / Average Target 9,02%
EPS Revisions
Managers and Directors
Siew Kim Beh CEO & Non-Independent Executive Director
Siew Fong Kang Chief Financial Officer
Kin Leong Chan Head-Investment & Asset Management
Kim Huat Chia Independent Non-Executive Director
Zulkifli bin Baharudin Independent Non-Executive Director
Sector and Competitors