CapitaLand Ascendas REIT - DBS Research 2024-02-02: Back On The Growth Path

• In FY23, CapitaLand Ascendas REIT (SGX:A17U) reported revenues of S$1,480.0m, reflecting a significant 9.4% increase y-o-y. This growth can be attributed mainly to the strategic acquisitions made during the first two quarters of FY23, including three properties in Singapore and a data centre property in the UK in August 2023.
• - Read this at SGinvestors.io -

FY23 DPU of 15.16 cents came in ~0.9% below our projections.

• During the year, CapitaLand Ascendas REIT saw higher borrowing costs impacting distributable income, resulting in a y-o-y decrease of ~1.4%, bringing the distributable income to S$654.4m.
• - Read this at SGinvestors.io -

Double-digit positive rental reversions with stable portfolio occupancy rate.

• Read more at SGinvestors.io.

Above is an excerpt from a report by DBS Group Research.
Clients of DBS may access the full PDF report @ https://www.dbs.com/insightsdirect/.

Read also DBS's most recent report:
2025-08-05 CapitaLand Ascendas REIT - Billion-dollar Growth Achieved.

Previous report by DBS:
2025-02-07 CapitaLand Ascendas REIT - Building On Firm Foundations.

Price targets by 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 Dividend Payout Dates & Corporate Actions,
CapitaLand Ascendas REIT News