CapitaLand Ascendas REIT - RHB Research 2025-02-10: Rejuvenating Its Portfolio; BUY

• CapitaLand Ascendas REIT’s 2H/FY24 financials were in line, with DPU back in growth mode.
• - Read this at SGinvestors.io -

Key briefing takeaways

• Key briefing takeaways were CapitaLand Ascendas REIT’s sharpened focus on asset development and redevelopments/enhancements. We are positive on this move as we expect it to unlock significant untapped value, enhance returns and diversify earnings.
• CapitaLand Ascendas REIT is one of our top industrial S-REIT picks.

Planned redevelopment of LogisHub @ Clementi

• - Read this at SGinvestors.io -
• Estimated cost of the redevelopment is S$136.2m with ROI expected to be in the high single digits. The move follows FY24 forward purchases of two logistics assets in the US (Charleston and Indianapolis) for ~S$250m, which are expected to offer a stabilised NPI yield of 7.6%, higher than its existing portfolio.
• CapitaLand Ascendas REIT guided for potential S$1.5bn of redevelopments over three years.

Potential to unlock value from Singtel data centre assets

• Read more at SGinvestors.io.

Above is an excerpt from a report by RHB Securities Research.
Clients of RHB may be the first to access the full PDF report @ https://www.rhbtradesmart.com/.

Previous report by RHB:
2024-10-15 CapitaLand Ascendas REIT - Unlocking Value; BUY.

Price targets by 4 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