- CapitaLand Ascott Trust (SGX:HMN)'s FY23 DPU of 6.57 cents (+16% y-o-y) exceeded our expectations by 11.7% due to a one-off realised exchange gain. Excluding one-off items, adjusted DPU increased 14% y-o-y to 5.44 cents, which was 93% of our forecast.
- - Read this at SGinvestors.io -
- CapitaLand Ascott Trust remains our top pick in thesector owing to its mix of stable and growth income sources and geographical diversification.
The Positives
4Q23 RevPAU grew above pre-pandemic level
- - Read this at SGinvestors.io -
- RevPAU in Australia, Japan, Singapore, UK and USA continued to exceed pre-COVID 4Q19 levels on a same-store basis.
- Japan saw a spike in RevPAU by 90% y-o-y after its re-opening to independent leisure travellers in Oct 2022.
- Performance in China and Vietnam continued to improve, with RevPAU at 86% and 88% of 4Q19 levels respectively.
Proactive capital management.
- Read more at SGinvestors.io.
Above is the excerpt from report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full report in PDF @ https://www.stocksbnb.com/.
Darren Chan Phillip Securities Research | https://www.stocksbnb.com/ 2024-02-09
Read also Phillip's most recent report:
2024-07-29 CapitaLand Ascott Trust - Olympics To Support Stronger 2H24.
Previous report by Phillip:
2024-04-25 CapitaLand Ascott Trust - Occupancy To Improve With ADRs Stabilising.
Price targets by 4 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 Dividends & Corporate Actions,
CapitaLand Ascott Trust News Articles
