Ascott Residence Trust (ART) - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/04/24	Lim & Tan	ART	0.895	1.18	Accumulate
07/05/24	DBS Vickers	ART	0.87	1.3	Buy	DCF
07/22/24	Phillip	ART	0.9	1.04	Accumulate	DDM
07/26/24	Lim & Tan	ART	0.9	1.21	Accumulate
07/29/24	DBS Vickers	ART	0.9	1.15	Buy	DCF
07/29/24	Kim Eng	ART	0.9	1.1	Buy	DDM
07/29/24	Citi Research	ART	0.9	1.12	Buy	DDM & RNAV
08/22/24	UOB Kay Hian	ART	0.885	1.3	Buy
08/26/24	Phillip	ART	0.895	1.04	Buy	DDM
08/26/24	DBS Vickers	ART	0.895	1.15	Buy	DCF
08/26/24	OCBC	ART	0.895	1.08	Buy
09/23/24	Phillip	ART	0.955	1.04	Buy	DDM
10/01/24	DBS Vickers	ART	0.975	1.15	Buy	DCF
10/02/24	CIMB	ART	0.975	1.18	Add	DDM
10/02/24	OCBC	ART	0.975	1.08	Buy
10/02/24	Citi Research	ART	0.975	1.12	Buy	DDM & RNAV
10/04/24	UOB Kay Hian	ART	0.975	1.38	Buy	DDM
10/09/24	Lim & Tan	ART	0.955	1.46	Accumulate
10/18/24	Phillip	ART	0.95	1.04	Buy	DDM
11/01/24	UOB Kay Hian	ART	0.905	1.38	Buy	DDM
11/01/24	Phillip	ART	0.905	1.04	Buy	DDM
11/04/24	Kim Eng	ART	0.905	1.15	Buy	DDM
12/17/24	DBS Vickers	ART	0.875	1.15	Buy	DCF
12/19/24	OCBC	ART	0.875	1.06	Buy
01/02/25	UOB Kay Hian	ART	0.87	1.38	Buy	DDM
01/03/25	Phillip	ART	0.89	1.03	Buy	DDM
01/09/25	Kim Eng	ART	0.895	1.15	Buy
01/27/25	Lim & Tan	ART	0.88	1.08	Accumulate
01/28/25	Phillip	ART	0.89	1.05	Buy	DDM
01/28/25	Citi Research	ART	0.89	1.12	Buy	DDM & RNAV
02/04/25	OCBC	ART	0.895	0.99	Buy
02/17/25	Phillip	ART	0.875	1.05	Buy	DDM
03/06/25	UOB Kay Hian	ART	0.86	1.38	Buy	DDM
03/13/25	CIMB	ART	0.88	1.13	Add	DDM
03/24/25	Phillip	ART	0.87	1.05	Buy	DDM
04/01/25	UOB Kay Hian	ART	0.87	1.38	Buy	DDM
04/21/25	Phillip	ART	0.845	1.05	Buy	DDM
04/28/25	DBS Vickers	ART	0.855	1.15	Buy	DCF
05/21/25	UOB Kay Hian	ART	0.86	1.38	Buy	DDM
05/28/25	Kim Eng	ART	0.86	1.1	Buy
06/27/25	UOB Kay Hian	ART	0.875	1.56	Buy	DDM
07/03/25	Phillip	ART	0.885	1.05	Buy	DDM
07/29/25	DBS Vickers	ART	0.905	1.15	Buy	DCF
07/29/25	Lim & Tan	ART	0.905	1.11	Accumulate
07/30/25	OCBC	ART	0.91	1.02	Buy
07/31/25	Phillip	ART	0.905	1.05	Buy	DDM
08/01/25	UOB Kay Hian	ART	0.895	1.56	Buy	DDM
08/04/25	Kim Eng	ART	0.89	1.05	Buy	DDM
08/05/25	DBS Vickers	ART	0.905	1.15	Buy	DCF
08/28/25	Lim & Tan	ART	0.875	1.08	Accumulate
09/01/25	UOB Kay Hian	ART	0.885	1.56	Buy	DDM

Stock calls for 8 October 2025

Date	Analyst	Company	Last	Target	Call	Valuation
10/08/25	DBS Vickers	City Developments	7.13	9	Buy	RNAV (50% disc)
10/08/25	DBS Vickers	GuocoLand	2.06	2.5	Buy	RNAV (45% disc)
10/08/25	Lim & Tan	Netlink	0.96	1	Accumulate on weakness
10/08/25	UOB Kay Hian	Riverstone	0.755	0.98	Buy	PER20x FY26
10/08/25	OCBC	ST Engineering	9.01	9.03	Hold
10/08/25	DBS Vickers	UOL	8.02	8.8	Buy	RNAV (50% disc)

ARA Hospitality (Acrophyte) - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
11/11/24	DBS Vickers	ARA Hospitality (Acrophyte)	0.215	0.25	Buy	DCF
03/03/25	DBS Vickers	ARA Hospitality (Acrophyte)	0.215	0.25	Buy	DCF

APAC Realty - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/10/24	DBS Vickers	APAC Realty	0.4	0.48	Hold	PER11x
07/05/24	DMG & Partners	APAC Realty	0.4	0.42	Neutral	DCF
08/13/24	CIMB	APAC Realty	0.37	0.45	Add
08/19/24	DBS Vickers	APAC Realty	0.385	0.48	Hold
09/19/24	DMG & Partners	APAC Realty	0.375	0.42	Buy	DCF
10/15/24	DMG & Partners	APAC Realty	0.39	0.42	Buy	DCF
12/09/24	DBS Vickers	APAC Realty	0.395	0.48	Hold	PER11x
12/16/24	DMG & Partners	APAC Realty	0.39	0.42	Buy	DCF
01/07/25	DBS Vickers	APAC Realty	0.385	0.5	Buy	PER13x
01/17/25	DMG & Partners	APAC Realty	0.405	0.42	Buy	DCF
02/19/25	DMG & Partners	APAC Realty	0.455	0.42	Buy	DCF
03/03/25	DBS Vickers	APAC Realty	0.415	0.5	Buy	PER13x
03/17/25	DMG & Partners	APAC Realty	0.42	0.48	Buy	DCF
03/18/25	Lim & Tan	APAC Realty	0.415	0.49	Accumulate
07/02/25	DMG & Partners	APAC Realty	0.48	0.54	Buy	DCF
08/05/25	Lim & Tan	APAC Realty	0.565	0.66	Accumulate
08/11/25	DBS Vickers	APAC Realty	0.635	0.8	Buy	PER13x FY25/26
08/12/25	Lim & Tan	APAC Realty	0.705	0.8	Accumulate
09/01/25	Lim & Tan	APAC Realty	0.735	0.82	Accumulate	PER15.5x FY25/26
09/15/25	DMG & Partners	APAC Realty	0.88	0.8	Neutral

Alpina - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
09/04/25	Lim & Tan	Alpina	0.31	0.38	Wait	Offer $0.38

Stock calls for 7 October 2025

Date	Analyst	Company	Last	Target	Call	Valuation
10/07/25	DBS Vickers	A-Reit	2.85	3.2	Buy	DCF
10/07/25	Lim & Tan	A-Reit	2.85	3.15	Accumulate on weakness
10/07/25	Lim & Tan	Civmec	1.14	0	Accumulate
10/07/25	CIMB	Soilbuild Construction	3.19	4.21	Add	PER
10/07/25	DMG & Partners	Stoneweg Reit	1.52	1.9	Buy

AIMS AMP Cap Ind Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/26/24	DMG & Partners	AIMS AMP Cap Ind Reit	1.26	1.46	Buy
07/25/24	DMG & Partners	AIMS AMP Cap Ind Reit	1.29	1.46	Buy
07/25/24	Kim Eng	AIMS AMP Cap Ind Reit	1.29	1.39	Buy
08/05/24	Kim Eng	AIMS AMP Cap Ind Reit	1.3	1.39	Buy
08/30/24	DMG & Partners	AIMS AMP Cap Ind Reit	1.28	1.46	Buy	DDM
08/30/24	OCBC	AIMS AMP Cap Ind Reit	1.28	1.46	Buy
10/15/24	DMG & Partners	AIMS AMP Cap Ind Reit	1.29	1.46	Buy	DDM
11/05/24	DBS Vickers	AIMS AMP Cap Ind Reit	1.27	1.55	Buy	DCF
11/05/24	Lim & Tan	AIMS AMP Cap Ind Reit	1.27	1.46	Accumulate
11/11/24	OCBC	AIMS AMP Cap Ind Reit	1.26	1.5	Buy
12/11/24	Lim & Tan	AIMS AMP Cap Ind Reit	1.26	1.47	Accumulate
12/16/24	DMG & Partners	AIMS AMP Cap Ind Reit	1.24	1.46	Buy	DDM
01/10/25	DMG & Partners	AIMS AMP Cap Ind Reit	1.29	1.46	Buy	DDM
01/31/25	Lim & Tan	AIMS AMP Cap Ind Reit	1.28	1.47	Accumulate
02/19/25	DMG & Partners	AIMS AMP Cap Ind Reit	1.26	1.46	Buy	DDM
03/03/25	Kim Eng	AIMS AMP Cap Ind Reit	1.23	1.39	Buy	DDM
03/24/25	DMG & Partners	AIMS AMP Cap Ind Reit	1.26	1.48	Buy	DDM
05/07/25	DBS Vickers	AIMS AMP Cap Ind Reit	1.27	1.55	Buy	DCF
05/07/25	Lim & Tan	AIMS AMP Cap Ind Reit	1.27	1.43	Accumulate
05/08/25	Kim Eng	AIMS AMP Cap Ind Reit	1.27	1.2	Hold	DDM
06/27/25	Lim & Tan	AIMS AMP Cap Ind Reit	1.31	1.41	Hold
07/14/25	Lim & Tan	AIMS AMP Cap Ind Reit	1.33	1.5	Accumulate
07/23/25	DMG & Partners	AIMS AMP Cap Ind Reit	1.4	1.52	Buy	DDM
08/05/25	Kim Eng	AIMS AMP Cap Ind Reit	1.36	1.25	Hold	DDM
08/06/25	DMG & Partners	AIMS AMP Cap Ind Reit	1.35	1.52	Buy	DDM