CapitaLand Ascendas REIT - UOB Kay Hian 2024-10-30: 3Q24 Results In Line

• CapitaLand Ascendas REIT announced its 3Q24 business update:

Clocked double-digit positive reversion.

• CapitaLand Ascendas REIT achieved positive rental reversion of 14.4% for leases that were renewed in multi-tenant buildings in 3Q24 (Singapore: +12.2%, Australia: +14.9% and US: +22.9%). Rental reversion was particularly robust for logistics properties at 31.7% for Singapore and 52.3% for Australia.
• - Read this at SGinvestors.io -

Portfolio occupancy eased 1.0ppt q-o-q to 92.1% in 3Q24.

• Occupancy for Australia slipped 5.1ppt q-o-q to 91.7% due to non-renewal at 6-20 Clunies Ross Street in Sydney. CapitaLand Ascendas REIT had previously cautioned that demand for logistics properties in Australia has normalised and leasing downtime has reverted to the usual 6-12 months. Management is in discussions with prospective tenants to backfill the vacant space.
• - Read this at SGinvestors.io -
• Occupancy for Singapore was stable at 92.0%.

Prudent capital management.

• Read more at SGinvestors.io.

Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.

Read also UOB's most recent report:
2025-02-10 CapitaLand Ascendas REIT 2H24 - Stepping Up On Redevelopment Projects Locally & Abroad.

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