- CapitaLand Ascendas REIT (SGX:A17U) provided its 1Q24 business update:
Strong rental reversion driven by logistics properties.
- CapitaLand Ascendas REIT achieved strong positive rental reversion of 16.9% in 1Q24. Logistics properties in Singapore and the US recorded strong positive reversions of 62.0% and 28.7% respectively. Business space and Industrial & Data Centres in Singapore recorded positive reversions of 5.8% and 11.4% respectively.
- - Read this at SGinvestors.io -
Lower occupancy in the US and Australia.
- Portfolio occupancy eased 0.9ppt q-o-q to 93.3% in 1Q24.
- Occupancy for the US slipped 0.9ppt q-o-q to 89.5% with improvement in Portland offset by weakness in Raleigh and Kansas City.
- - Read this at SGinvestors.io -
- Occupancy for UK/Europe eased 1.8ppt q-o-q to 97.5% due to lease expiry for a single tenant at data centre Welwyn Garden City (earmarked for redevelopment to expand its capacity).
Prudent capital management.
- Read more at SGinvestors.io.
Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
Jonathan KOH CFA UOB Kay Hian Research | https://research.uobkayhian.com/ 2024-04-29
Read also UOB's most recent report:
2024-10-30 CapitaLand Ascendas REIT - 3Q24 Results In Line.
Previous report by UOB:
2024-08-12 CapitaLand Ascendas REIT - Backfilling Vacant Space At Changi Business Park.
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
