- 1H23 results for CapitaLand Ascendas REIT (SGX:A17U) were in line. Operational metrics came in slightly better than expected - with very strong double digit rent reversions and stable occupancy - and are expected to remain strong for the rest of the year.
- - Read this at SGinvestors.io -
- CapitaLand Ascendas REIT remains on track to complete an earlier announced acquisition in Europe and will focus on extracting value through asset enhancement initiatives (AEIs).
1H23 DPU down 2% y-o-y; expecting a flattish 2H
- 1H23 DPU down 2% y-o-y; expecting a flattish 2H with higher revenue and net property income (NPI) contributions from organic rental growth as well as contributions from recent acquisitions.
- - Read this at SGinvestors.io -
- Approximately 82% of CapitaLand Ascendas REIT's debt is currently fixed which mitigates the rising rates as every 50bps rise results in ~1% DPU impact.
- Based on an internal valuation, there were no significant changes in the overall value of its portfolio, with a slight uptick in Singapore and the UK, offsetting a slight weakness in the US.
Rental growth to continue
- Read more at SGinvestors.io.
