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:
2025-08-07 CapitaLand Ascendas REIT - Contributions From New Acquisitions To Flow Through In 2H25.

Previous report by UOB:
2025-06-18 CapitaLand Ascendas REIT - Expanding Data Centre Footprint In Home Base Singapore.

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