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 the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ 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:
2024-08-12 CapitaLand Ascendas REIT - Backfilling Vacant Space At Changi Business Park.

Previous report by UOB:
2024-04-29 CapitaLand Ascendas REIT - 1q24 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 Dividends & Corporate Actions,
CapitaLand Ascendas REIT News Articles





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