ARA US Hospitality Trust reported Wednesday its 3Q19 net property income came in at US$13.50M, missing the US$17.33M forecast from its IPO prospectus.
ARA US Hospitality Trust said Wednesday it entered a deal to acquire a portfolio of three U.S. Marriott-branded hotels from Concord Hospitality for US$84.5M.
KGI started ARA US Hospitality Trust at Outperform, pointing to select-service hotels’ relatively strong growth rate and higher margins.
ARA US Hospitality Trust reported Tuesday its net property income for the 9 May to 30 June period was US$9.86M, 0.4% above the IPO prospectus forecast.
UOB KayHian started ARA US Hospitality Trust at Buy with a target price of US$1.15, pointing to its higher-margin niche of upscale select-service hotels.
These are Singapore companies which may be in focus on Wednesday, 11 June 2019: Temasek, Sembcorp, Gallant, OUE, China Jinjiang Environment, OCBC and UOB.
ARA US Hospitality Trust ended its first day of trade on SGX at US$0.88, flat with its offering price, after trading in a range of US$0.865 to US$0.88.