Ascendas REIT's 1H22 results highlights:
Higher revenues from acquisitions and completed developments.
- Ascendas REIT (SGX:A17U)'s 1H22 revenues increased 13.7% y-o-y to S$666.5m due mainly to contributions from acquisitions in the past year.
- - Read this at SGinvestors.io -
- 75% interest in Galaxis (June 2021).
- 11 logistics properties in Kansas City (November 2021).
- 7 logistics properties in Chicago (June 2022).
- Completion of Grab HQ (July 2021).
- Several other development completions in Singapore and Australia.
- 1314 Ferntree Gully Road, Melbourne (June 2021).
- 82 Noosa Street and 62 Stradbroke Street, Brisbane (July 2021).
- - Read this at SGinvestors.io -
- Expect margins to remain close to current levels as utility contracts have been locked in until December 2022.
1H22 DPU of 7.873 cents in line with projections.
13.2% positive rental reversions in 2Q22.
Portfolio occupancy improved further to 94.0%.
Capital management metrics maintained, but could see financing costs edge up.
S$566m worth of ongoing projects to drive income growth.
Our Thoughts
- Read more at SGinvestors.io.
Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.
Dale LAI DBS Group Research | Derek TAN DBS Research | https://www.dbs.com/insightsdirect/ 2022-08-03
Read also DBS's most recent report:
2023-08-01 CapitaLand Ascendas REIT - Redevelopment In Progress, Acquisition To Boost Growth.
Previous report by DBS:
2023-02-03 CapitaLand Ascendas REIT - Ready For Next Leg Of Growth.
Price targets by 5 other brokers at CapitaLand Ascendas REIT Target Prices.
Listing of research reports at CapitaLand Ascendas REIT Analyst Reports.
Relevant links:
CapitaLand Ascendas REIT Share Price History,
CapitaLand Ascendas REIT Announcements,
CapitaLand Ascendas REIT Dividends & Corporate Actions,
CapitaLand Ascendas REIT News Articles