- CapitaLand Ascendas REIT (SGX:A17U)’s 1H24 results met our expectations. Gross revenue and net property income (NPI) rose 7.2% and 3.9% y-o-y to S$770.1m and S$528.4m respectively. This was driven by acquisitions and contribution from development projects, but partially offset by the loss of income from divestments and higher property operating expenses.
- - Read this at SGinvestors.io -
Guidance for FY24 rental reversions lifted to positive high-single digit range following uplift of 11.7% in 2Q24
- CapitaLand Ascendas REIT achieved another quarter of double-digit rental reversions, which came in at +11.7% for 2Q24 and 13.4% for 1H24. This led management to raise its guidance for its FY24 rental reversions to be in the positive high-single digit range, versus mid-single digit previously.
- - Read this at SGinvestors.io -
More time is needed to backfill vacancies.
- 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/ 2024-07-31
Read also OCBC's most recent report:
2024-10-28 CapitaLand Ascendas REIT - Acceleration In Rental Reversions An Offset To Lower 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
