CapitaLand Ascendas REIT - UOB Kay Hian 2023-02-06: Maintains Positive Rental Reversions & Higher Occupancies In 2H22

CapitaLand Ascendas REIT - Maintains Positive Rental Reversions & Higher Occupancies In 2H22

Published:
CAPITALAND ASCENDAS REIT (SGX:A17U) | SGinvestors.ioCAPITALAND ASCENDAS REIT (SGX:A17U)
  • CapitaLand Ascendas REIT achieved positive average rent reversion of 8.0% for 4Q22 (Singapore: 6.0% and US: 39%). Portfolio occupancy reached a 10-year high of 94.6%.
  • CapitaLand Ascendas REIT has a resilient balance sheet with average debt maturity at 3.7 years. Management plans to scale up in new economy assets, including logistics properties.
  • - Read this at SGinvestors.io -

CapitaLand Ascendas REIT (CLAR)'s 2H22 Results

  • CapitaLand Ascendas REIT (SGX:A17U) reported 2H22 DPU of 7.925 cents (+4.3% y-o-y), which is in line with our expectations.
  • - Read this at SGinvestors.io -
  • Occupancy on upward trend. CapitaLand Ascendas REIT's portfolio occupancy reaching a 10-year high of 94.6%. On a sequential basis, properties in Singapore and Australia improved a similar 0.3ppt q-o-q to 92.1% and 99.4% respectively. CapitaLand Ascendas REIT achieved positive average rent reversion of 8.0% for leases that were renewed during 4Q22 (Singapore: 6.0%, US: 39%).
  • NAV per unit stable at S$2.37. Same-store portfolio valuation was stable. CapitaLand Ascendas REIT's portfolio in Singapore, Australia and the US achieved higher valuations. This was offset by lower valuations for data centres in the UK/Europe, which accounted for only 4.4% of total assets.

Prudent capital management.

  • Read more at SGinvestors.io.



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/.



Jonathan KOH CFA UOB Kay Hian Research | https://research.uobkayhian.com/ 2023-02-06



Read also UOB's most recent report:
2025-02-10 CapitaLand Ascendas REIT 2H24 - Stepping Up On Redevelopment Projects Locally & Abroad.

Previous report by UOB:
2024-10-30 CapitaLand Ascendas REIT - 3Q24 Results In Line.

Price targets by 3 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






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