CapitaLand Ascendas REIT - UOB Kay Hian 2023-11-02: 3Q23 In Line

CapitaLand Ascendas REIT - 3Q23 In Line

Published:
CapitaLand Ascendas REIT (SGX:A17U) | SGinvestors.ioCapitaLand Ascendas REIT (SGX:A17U)
  • BUY CapitaLand Ascendas REIT (SGX:A17U) for excellence in execution to sustain strong positive rental reversion, maintain high occupancies and orchestrate a string of successive redevelopment projects.

CapitaLand Ascendas REIT provided 3Q23 business update:

Stable occupancies across Singapore, Australia and the UK/Europe.

  • - Read this at SGinvestors.io -
  • Occupancy rate for Singapore improved 0.4ppt q-o-q to 92.7%, which is offset by a marginal easing of occupancy rate for Australia and the UK/Europe by 0.5ppt and 0.2ppt q-o-q respectively to 99.0% and 99.3%. Australia and the UK/Europe remain near full occupancy.

Strong positive rental reversion for logistics properties.

  • - Read this at SGinvestors.io -
  • Logistics properties registered exceptionally strong rental reversion at 25.5% in Singapore and 28.8% in the UK/Europe due to tight supply and adoption of just-in-case supply chain management.
  • Management expects positive rental reversion at high single digit for full-year 2023.

Further expansion in data centres.

  • 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/ 2023-11-02



Read also UOB's most recent report:
2024-02-05 CapitaLand Ascendas REIT - Continues To Generate Strong Positive Rental Reversions In 2H23.

Price targets by 5 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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