- CapitaLand Ascendas REIT's gross revenues increased by 2.9% y-o-y, driven by full-year contributions from acquisitions made in the previous year. These included the addition of two properties in Singapore and one in the UK. However, this was partially offset by divestments and the decommissioning of properties for redevelopment. As a result, NPI grew by a marginally slower 2.6% y-o-y.
FY24 DPU increased by 0.3% y-o-y to 15.205 cents.
- - Read this at SGinvestors.io -
- FY24 CapitaLand Ascendas REIT's distribution came in at 15.205 cents, which was in line with our projections but below consensus estimates. The growth in DPU was somewhat moderated by the increase in the number of units, as a portion of the Manager’s fees were paid in units instead of cash.
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Portfolio occupancy rate improved by 70bps q-o-q.
- Overall portfolio occupancy increased by 70bps q-o-q to 92.8%, supported by stronger leasing activity across key markets. Singapore, the US, and Australia all reported improvements in occupancy, while UK/Europe remained stable.
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