CapitaLand Ascott Trust - UOB Kay Hian 2022-11-02: 3Q22 Ideal Mix Of Recovery Potential & Resilient Balance Sheet

• CapitaLand Ascott Trust’ portfolio RevPAU recovered 88% y-o-y and 6% q-o-q to S$132 in 3Q22, which is 87% of pre-pandemic levels on a pro forma basis, due to higher occupancy (>70% in 3Q22) and ADR (9M22: +40% y-o-y).
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• CapitaLand Ascott Trust's aggregate leverage was healthy at 35.8%, while cost of debt was stable at 1.7%. 2023 distribution yield is attractive at 6.5%. Maintain BUY.

CapitaLand Ascott Trust (CLAS)'s 3Q22 results

• CapitaLand Ascott Trust (SGX:HMN) reported its 3Q22 business update. See CapitaLand Ascott Trust's announcement dated 28 Oct 2022.
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Recovery momentum sustained into 3Q22.

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Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.

Read also UOB's most recent report:
2025-01-28 CapitaLand Ascott Trust - Portfolio Reconstitution Starting To Bear Fruit.

Previous report by UOB:
2024-11-01 CapitaLand Ascott Trust - Steady Rise In RevPAU; Disciplined Capital Recycling.

Price targets by 2 other brokers at CapitaLand Ascott Trust Target Prices.

Listing of research reports at CapitaLand Ascott Trust Analyst Reports.

Relevant links:
CapitaLand Ascott Trust Share Price History,
CapitaLand Ascott Trust Announcements,
CapitaLand Ascott Trust Dividend Payout Dates & Corporate Actions,
CapitaLand Ascott Trust News