CapitaLand Ascendas REIT - DBS Research 2022-11-01: Acquisitions In Singapore Still Accretive

• CapitaLand Ascendas REIT (SGX:A17U) provided 3Q22 business update. See CapitaLand Ascendas REIT's announcement dated 31 Oct 2022.

Continued positive rental reversions of +5.4%.

• - Read this at SGinvestors.io -
• Similarly, positive rental reversions across the board are seen for the US, mainly due to the 60.0% hike for logistics facilities

2022 year-to-date, CapitaLand Ascendas REIT’s portfolio reported a +8.0% rental reversion. Management expects its portfolio’s overall FY22 rental reversions to be in the positive mid-single-digit range which is In line with its guidance earlier in the year

Only 3.7% of portfolio leases remains to be renewed in 4Q22

• - Read this at SGinvestors.io -
• New leases signed in 3Q22 make up ~2.3% of revenues. Weighted average lease term of new leases signed were relatively long, at 5.4 years. A further 22.0% of the portfolio will be expiring in FY23.

Inching up of gearing and borrowing costs.

• Read more at SGinvestors.io.

Dale LAI DBS Group Research | Derek TAN DBS Research | https://www.dbs.com/insightsdirect/ 2022-11-01 SGinvestors.io

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