CapitaLand Ascott Trust - Phillip Securities 2023-07-31: Still Room For RevPAU Growth

• CapitaLand Ascott Trust (SGX:HMN)'s 1H23 DPU of 2.78 cents (+19% y-o-y) was in line with expectations and formed 43% of our FY23e forecast, with seasonally stronger performance expected in the second half of the year.
• - Read this at SGinvestors.io -
• 2Q23 portfolio RevPAU rose 20% y-o-y to S$149, reaching 98% of pre-COVID 2Q19 levels on the continued improvement in portfolio occupancy (75% vs 70% in 2Q22) and average daily rates (ADR).
• Downgrade CapitaLand Ascott Trust from BUY to ACCUMULATE, DDM-based target price trimmed from S$1.26 to S$1.20. FY23e/FY24e DPU forecast for CapitaLand Ascott Trust is lowered by 4%/6% on higher interest assumptions.
• - Read this at SGinvestors.io -

The Positives

2Q23 RevPAU grew 20%

• Read more at SGinvestors.io.

Above is an excerpt from a report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full PDF report @ https://www.stocksbnb.com/.

Read also Phillip's most recent report:
2025-01-28 CapitaLand Ascott Trust - Growth On All Cylinders.

Previous report by Phillip:
2024-11-01 CapitaLand Ascott Trust - Portfolio Reconstitution Efforts Bearing Fruit.

Price targets by 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,
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