- CapitaLand Ascendas REIT (SGX:A17U) reported an 11%/4.6% y-o-y rise in 2H23 revenue/NPI to S$761.7m/S$514.3m, with contributions from new acquisitions and better performance of existing assets. However, distribution income dipped 1.9% y-o-y to S$326.9m, largely on the back of higher interest expenses.
2H/FY23 DPU below our estimates
- - Read this at SGinvestors.io -
- CapitaLand Ascendas REIT's DPU of 15.16 cents for FY23 was 4% lower y-o-y.
FY24 funding cost at below 4%
- CapitaLand Ascendas REIT saw a 3% expansion in portfolio value to S$16.92bn at end-FY23 due to new acquisitions. On a same-store basis, it experienced a 1.8% decline in asset values, largely coming from lower asset values in the US and Australia, partly offset by higher valuation in Singapore and UK/Europe.
- - Read this at SGinvestors.io -
Portfolio rental reversion averaged +13.4% in FY23
- Read more at SGinvestors.io.
Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.
LOCK Mun Yee CGS-CIMB Research | Natalie ONG CGS-CIMB Research | https://www.cgs-cimb.com 2024-02-02
Previous report by CGS-CIMB:
2023-10-30 CapitaLand Ascendas REIT - Resilient Operations.
Price targets by 4 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