- CapitaLand Ascott Trust released 3Q24 business updates. Gross profit for the master lease, MCMGIs and long-stay assets were higher by 4%, 47% and 11% y-o-y, driven by RevPAU growth and contribution from newly acquired assets.
- - Read this at SGinvestors.io -
An upbeat 3Q24
- For assets under management contracts and MCMGI, RevPAU in most of the key markets rose y-o-y, except for in Australia due to high-base effect. Its UK (+7%) and Japan (+6%) portfolios led RevPAR growth. Events and concerts in the UK underpinned strong leisure and group bookings in the summer months.
- CapitaLand Ascott Trust expects its US portfolio to benefit from the events pipeline and favourable supply dynamics. Its US student accommodation portfolio continues to have 90% occupancy and rent increase of 4.5%. Notably, EBITDA yield for Standard at Columbia crept up to ~7% from 6.2% in the original underwriting.
- - Read this at SGinvestors.io -
- Overall, management remains confident in achieving growth, led by its Japan, the UK and SG portfolio, which would benefit from recent renovations, or favourable supply-demand dynamics.
Active capital recycling
- Read more at SGinvestors.io.
Above is the excerpt from report by Maybank Research.
Clients of Maybank Securities may be the first to access the full report in PDF @ https://www.maybanktrade.com.sg/.
Li Jialin Maybank Research | https://www.maybank.com/ 2024-11-04
Read also Maybank's most recent report:
2025-01-30 CapitaLand Ascott Trust - Growing Core Distribution.
Price targets by 2 other brokers at CapitaLand Ascott Trust Target Prices.
Listing of research reports at CapitaLand Ascott Trust Analyst Reports.
Relevant links:
CapitaLand Ascott Trust Share Price History,
CapitaLand Ascott Trust Announcements,
CapitaLand Ascott Trust Dividend Payout Dates & Corporate Actions,
CapitaLand Ascott Trust News
