- CapitaLand Ascendas REIT ended FY24 on a healthy note, as evidenced by the 3.2% y-o-y increase in its 2H24 DPU to 7.681 Singapore cents. This was the first positive y-o-y growth recorded since 2H22 (half-yearly basis). This culminated in FY24 CapitaLand Ascendas REIT DPU of 15.205 Singapore cents, representing a slight increase of 0.3% but was above our forecast by 2.2%.
Healthy FY24 portfolio rental reversions of +11.6%, while portfolio occupancy increased sequentially to 92.8%.
- - Read this at SGinvestors.io -
- - Read this at SGinvestors.io -
- Looking ahead, CapitaLand Ascendas REIT guided for its FY25 rental reversions to be in the positive mid-single digit range, which we believe is achievable.
- Overall portfolio occupancy increased 0.7 ppt q-o-q to 92.8%, and this was the first quarter of sequential increase after seeing four consecutive quarters of decline.
Some risks ahead...
- Read more at SGinvestors.io.
