- 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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