- CapitaLand Ascendas REIT reported DPU of 7.477 cents for 1H25 (-0.6% y-o-y), which is slightly below our expectations.
Portfolio occupancy improved slightly by 0.3ppt q-o-q to 91.8% as of Jun 25.
- - Read this at SGinvestors.io -
- Occupancy for Singapore slipped 0.4ppt to 91.2% due to non-renewal at 9 Serangoon North Avenue 5.
- Occupancy for the US dipped 0.7ppt q-o-q to 87.3% due to non-renewal for a logistics property at Kansas City.
Broad-based positive rental reversion.
- Leases renewed in 2Q25 achieved a positive average rental reversion of 8%. Average rental reversions were 7.8% in Singapore, 10.9% in the US and 3.5% in Australia.
- - Read this at SGinvestors.io -
Continued expansion in Singapore.
- The acquisitions of Tier III colocation data centre at 9 Tai Seng Drive (9TSD) and premium business space property at 5 Science Park Drive (5SPD) in Singapore for S$725m were completed on 6 Aug 25.
- CapitaLand Ascendas REIT completed the acquisition of DHL Indianapolis Logistics Center in Indianapolis in the US for S$153m on 15 Jan 25.
- To date, CapitaLand Ascendas REIT has completed S$878m of acquisitions.
Prudent capital management.
- Read more at SGinvestors.io.
