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.
• - Read this at SGinvestors.io -

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.
  • Read more at SGinvestors.io.

Above is an excerpt from a report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full PDF report @ https://www.iocbc.com/.

Read also OCBC's most recent report:
2025-05-29 CapitaLand Ascendas REIT - Deepening Its Presence In Singapore.

Previous report by OCBC:
2025-04-29 CapitaLand Ascendas REIT - Still Strong Rental Reversions But Weaker Occupancy.

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