CapitaLand Ascendas REIT - DBS Research 2023-02-03: Ready For Next Leg Of Growth

• CapitaLand Ascendas REIT (SGX:A17U)'s revenues in FY22 grew 10.3% y-o-y. Higher revenues of S$1,352.7m attributed to acquisitions, completion of development projects, and better performance of the Singapore portfolio, and full year contributions from acquisitions in Europe, Singapore and the US in FY21, and half year contribution from the seven logistics properties in Chicago acquired in June 2022, completion of developments: Singapore (UBIX), and Australia (500 Green Road and 7 Kiora Crescent).
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• Approximately 5-10% increase in service charge to tenants will help to offset cost inflation in OPEX.
• CapitaLand Ascendas REIT's FY22 DPU of S$0.15798 was 3.5% higher y-o-y, in line with our FY22 projections. 2H22 DPU of S$0.07925 was 0.7% higher h-o-h.

Positive rental reversions were recorded across all markets and property types for CapitaLand Ascendas REIT

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• Australia: +14.2%
• US: +29.2%
• UK/Europe: +11.7%

Above is an excerpt from a report by DBS Group Research.
Clients of DBS may access the full PDF report @ https://www.dbs.com/insightsdirect/.

Read also DBS's most recent report:
2025-02-07 CapitaLand Ascendas REIT - Building On Firm Foundations.

Previous report by DBS:
2024-07-31 CapitaLand Ascendas REIT - Resuming The Path To Earnings Growth.

Price targets by 2 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 Dividend Payout Dates & Corporate Actions,
CapitaLand Ascendas REIT News