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

CapitaLand Ascendas REIT - Strong Rent Growth Offsetting Lower Occupancy; BUY

Published:
CapitaLand Ascendas REIT (SGX:A17U) | SGinvestors.ioCapitaLand Ascendas REIT (SGX:A17U)
  • 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.





Shekhar Jaiswal RHB Securities Research | https://www.rhbgroup.com/ 2024-04-23



Previous report by RHB:
2023-08-01 CapitaLand Ascendas REIT - Steady & Stable; Keep BUY.

Price targets by 2 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





Advertisement

You May Also Like




SGX Stock / REIT Search

Advertisement

Most Read

Trust Bank God Of Fortune Referral Code PGKPSWAE Trust Bank Referral Code 🎁

Advertisement