- 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 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
Read also OCBC's most recent report:
2024-10-28 CapitaLand Ascendas REIT - Acceleration In Rental Reversions An Offset To Lower Occupancy.Previous report by OCBC:
2024-07-31 CapitaLand Ascendas REIT - Stronger Rental Reversion Guidance.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 Dividends & Corporate Actions,
CapitaLand Ascendas REIT News Articles
