CapitaLand Ascendas REIT - OCBC Investment 2024-04-23: Mixed Business Update

• CapitaLand Ascendas REIT (SGX:A17U) provided a business update for 1Q24. No financial data on revenue and distributions were reported, but operationally, overall portfolio rental reversions came in strong at +16.9%. This was a continuation from its robust momentum in 4Q23, which had recorded rental reversions of +15.2%.

Portfolio rental reversions came in strong at +16.9% in 1Q24, driven largely by its logistics assets

• - Read this at SGinvestors.io -
• For its Singapore renewal leases, rental reversions were an impressive +62% for its logistics properties, +11.4% for its industrial and data centres segment, and +5.8% for its business space and life sciences segment.
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Portfolio occupancy fell 0.9 ppt q-o-q to 93.3%

• Notwithstanding the solid rental reversion figures, CapitaLand Ascendas REIT’s overall portfolio occupancy edged down 0.9 ppt q-o-q to 93.3%. The decline was broad-based, with all four core regions facing a dip.
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  Above is the excerpt from report by OCBC Investment Research.
  Clients of OCBC Securities may be the first to access the full report in PDF @ https://www.iocbc.com/.
  
  

  
  
  OCBC Research Team OCBC Investment Research | https://www.iocbc.com/ 2024-04-23 SGinvestors.io
  
  

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  Read also OCBC's most recent report:
  2024-07-31 CapitaLand Ascendas REIT - Stronger Rental Reversion Guidance.

  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