- 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 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
