Ascott Residence Trust (ART) - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/04/16	UOB Kay Hian	ART	1.185	1.39	Buy
01/08/16	DBS Vickers	ART	1.15	1.33	Buy	DCF
01/26/16	Lim & Tan	ART	1.1	0	Buy
01/26/16	OCBC	ART	1.1	1.28	Buy
01/27/16	CIMB	ART	1.115	1.19	Hold	DDM
01/27/16	DIR	ART	1.115	1.28	Outperform	DDM
03/10/16	OCBC	ART	1.13	1.28	Buy
03/15/16	CIMB	ART	1.13	1.19	Hold	DDM
03/15/16	DBS Vickers	ART	1.13	1.33	Buy
03/15/16	DIR	ART	1.13	1.21	Outperform	DDM
03/15/16	Lim & Tan	ART	1.13	0	Buy on weakness
03/16/16	OCBC	ART	1.075	1.29	Buy
03/16/16	UOB Kay Hian	ART	1.075	1.39	Buy	DDM
04/12/16	OCBC	ART	1.1	1.29	Buy
04/13/16	DBS Vickers	ART	1.11	1.33	Buy
04/18/16	CIMB	ART	1.125	1.14	Hold
04/18/16	DBS Vickers	ART	1.125	1.28	Buy
04/18/16	UOB Kay Hian	ART	1.125	1.36	Buy
05/03/16	UOB Kay Hian	ART	1.135	1.36	Buy
05/18/16	OCBC	ART	1.125	1.29	Buy
06/14/16	CIMB	ART	1.125	1.14	Hold
06/17/16	UOB Kay Hian	ART	1.11	1.36	Buy
06/22/16	OCBC	ART	1.115	1.29	Buy
06/29/16	CIMB	ART	1.09	1.16	Hold	DDM
07/13/16	Lim & Tan	ART	1.12	0	Buy
07/14/16	UOB Kay Hian	ART	1.13	1.36	Buy
07/18/16	UOB Kay Hian	ART	1.135	1.39	Buy
07/20/16	OCBC	ART	1.135	1.29	Buy
07/21/16	DBS Vickers	ART	1.145	1.31	Buy
07/21/16	DIR	ART	1.145	1.24	Outperform	DDM
07/21/16	OCBC	ART	1.145	1.24	Buy
07/21/16	Religare	ART	1.145	1.22	Hold
07/21/16	UOB Kay Hian	ART	1.145	1.37	Buy	DDM
07/22/16	CIMB	ART	1.16	1.18	Hold	DDM
07/22/16	Credit Suisse	ART	1.16	1.23	Neutral
08/01/16	UOB Kay Hian	ART	1.13	1.37	Buy
08/04/16	DIR	ART	1.125	1.24	Outperform
08/16/16	DBS Vickers	ART	1.15	1.31	Buy
08/29/16	OCBC	ART	1.145	1.24	Buy
08/31/16	Credit Suisse	ART	1.135	1.23	Neutral
09/15/16	DIR	ART	1.135	1.24	Outperform	DDM
10/05/16	UOB Kay Hian	ART	1.145	1.37	Buy	DDM
10/06/16	OCBC	ART	1.145	1.24	Buy
10/14/16	DIR	ART	1.14	1.24	Outperform	DDM
10/18/16	DBS Vickers	ART	1.14	1.31	Buy
10/21/16	CIMB	ART	1.135	1.18	Hold	DDM
10/21/16	DBS Vickers	ART	1.135	1.32	Buy	DCF
11/21/16	CIMB	ART	1.135	1.11	Hold
11/21/16	OCBC	ART	1.135	1.24	Buy
12/09/16	UOB Kay Hian	ART	1.165	1.3	Buy
12/16/16	OCBC	ART	1.155	1.24	Buy
01/04/17	OCBC	ART	1.14	1.24	Buy
01/04/17	UOB Kay Hian	ART	1.14	1.3	Buy	DDM
01/09/17	DBS Vickers	ART	1.16	1.32	Buy	DCF
01/18/17	DIR	ART	1.17	1.24	Outperform	DDM
01/24/17	Lim & Tan	ART	1.17	0	Buy
01/25/17	CIMB	ART	1.185	1.14	Hold	DDM
01/25/17	DBS Vickers	ART	1.185	1.28	Buy	DCF
01/25/17	OCBC	ART	1.185	1.22	Hold
01/31/17	Credit Suisse	ART	1.185	1.23	Neutral
02/08/17	DIR	ART	1.14	1.24	Outperform	DDM
03/07/17	Lim & Tan	ART	1.17	0	Hold	CR = 29 for 100 @ $0.919
03/07/17	UOB Kay Hian	ART	1.17	1.3	Buy
03/08/17	CIMB	ART	1.13	1	Reduce	DDM
03/08/17	Credit Suisse	ART	1.13	1.11	Neutral
03/08/17	DIR	ART	1.13	1.12	Hold	DDM
03/08/17	OCBC	ART	1.13	1.16	Hold	Target $1.105 ex-rights 29-for-100 @ $0.919
03/08/17	UOB Kay Hian	ART	1.13	1.2	Hold	DDM, Ex rights 29 for 100 $0.919
03/23/17	OCBC	ART	1.065	1.105	Hold
04/06/17	OCBC	ART	1.1	1.05	Hold
04/11/17	UOB Kay Hian	ART	1.09	1.2	Hold
04/17/17	OCBC	ART	1.09	1.105	Hold
04/18/17	DIR	ART	1.095	1.12	Hold
04/24/17	DBS Vickers	ART	1.09	1.16	Buy	DCF, Ex-Rights
04/24/17	DIR	ART	1.09	1.08	Hold	DDM
04/24/17	OCBC	ART	1.09	1.09	Hold
04/24/17	UOB Kay Hian	ART	1.09	1.15	Hold	DDM, Buy @ $1 or below
05/25/17	UOB Kay Hian	ART	1.12	1.17	Hold	DDM, Buy @ $1
05/31/17	Lim & Tan	ART	1.125	0	Buy
06/01/17	CIMB	ART	1.125	1.05	Hold	DDM
06/01/17	DBS Vickers	ART	1.125	1.16	Buy
06/01/17	OCBC	ART	1.125	1.095	Hold
07/04/17	DBS Vickers	ART	1.16	1.16	Buy
07/04/17	OCBC	ART	1.16	1.095	Hold
07/20/17	Lim & Tan	ART	1.175	0	Sell
07/21/17	CIMB	ART	1.195	1.14	Hold	DDM
07/21/17	DIR	ART	1.195	1.12	Hold	DDM
07/21/17	UOB Kay Hian	ART	1.195	1.18	Hold	DDM, Buy @ $1
07/24/17	DBS Vickers	ART	1.21	1.28	Buy	DCF
08/17/17	DBS Vickers	ART	1.18	1.28	Buy	DCF
09/29/17	OCBC	ART	1.18	1.1	Hold
10/23/17	UOB Kay Hian	ART	1.215	1.18	Hold
10/25/17	OCBC	ART	1.22	1.11	Hold
10/25/17	CIMB	ART	1.22	1.16	Hold	DDM
10/25/17	DBS Vickers	ART	1.22	1.28	Buy	DCF