Ascott Residence Trust down 0.4% at $1.29; 3Q12 DPU +0.4%

Ascott Residence Trust (A68U.SG) is down 0.4% at $1.29 amid broader market weakness, with some earnings disappointment possible and as the REIT has already posted strong gains year-to-date. The trust reported 3Q12 DPU rose just 0.4% on-year to 2.24 cents, even as revenue tacked on 6% to $77.4 million. ART’s forex loss widened by 87% to $1.6 billion from the year-earlier $860 million, with the company saying it was an unrealised loss on USD-denominated shareholders’ loans due to the SGD’s appreciation. The stock ended Tuesday down 0.4% at $1.295; Monday’s close at $1.30 was its highest since early 2010. it is up nearly 31% year-to-date.