CapitaLand Ascendas REIT - RHB Invest 2024-04-23: Strong Rent Growth Offsetting Lower Occupancy; BUY

• CapitaLand Ascendas REIT (SGX:A17U)’s 1Q24 business update showed continued strong momentum in rent growth offset by slightly higher vacancies.
• During the quarter, CapitaLand Ascendas REIT completed the divestment of three Australian assets and more of such divestments are likely this year.
• - Read this at SGinvestors.io -

Positive rent reversion of 16.9%

• Positive rent reversion (1Q24) of 16.9% (4Q23: 15.2%, FY23: 13.4%) indicating continued strong demand for industrial assets.
• Singapore portfolio remains a key growth driver, registering a healthy double-digit (+16%) rent reversion during the quarter led by the logistics segment which saw a stellar 62% increase in renewal rates highlighting the strong market rent growth over the last few years.
• - Read this at SGinvestors.io -

Slight dip in portfolio occupancy to 92.3%

• Read more at SGinvestors.io.

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

Read also RHB's most recent report:
2025-02-10 CapitaLand Ascendas REIT - Rejuvenating Its Portfolio; BUY.

Previous report by RHB:
2024-10-15 CapitaLand Ascendas REIT - Unlocking Value; BUY.

Price targets by 3 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