CapitaLand Ascendas REIT - OCBC Investment Research 2025-04-29: Still Strong Rental Reversions But Weaker Occupancy

• CapitaLand Ascendas REIT provided a business update for 1Q25. As per its usual practice, no financial data on revenue and distributions were reported.

Robust portfolio rental reversions of +11.0% in 1Q25.

• - Read this at SGinvestors.io -
• Looking more closely at the 1Q25 breakdown, rental reversions stood at +7.0%, +10.3% and +59.0% in Singapore, US and Australia respectively. No renewal leases were signed in UK/Europe.
  • - Read this at SGinvestors.io -
  • As for the US, rental reversions were modest at 0.7% for its business space and life sciences assets, but stronger at +11.5% for its logistics properties.
  • The strong rental uplifts in Australia were driven by the logistics segment, and we believe this could be for the renewal of leases that were signed several years ago and rents are now marked to market.

Portfolio occupancy fell 1.3 ppt q-o-q to 91.5%, with all regions contributing to the decline.

• Read more at SGinvestors.io.

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

Previous report by OCBC:
2025-02-07 CapitaLand Ascendas REIT - Portfolio Rejuvenation Set To Continue.

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