- CapitaLand Ascendas REIT (CLAR) reported DPU of 7.528 cents for 2H25 (-2.0% y-o-y), which is below our expectation.
Portfolio occupancy eased 0.4ppt q-o-q to 90.9% as of Dec 25.
- - Read this at SGinvestors.io -
- Occupancy for the UK/Europe dipped 6.8ppt q-o-q to 92.0% due to logistics property Hawleys Lane at Northwest England being slated for redevelopment. Excluding Hawleys Lane, occupancy for the UK/Europe would be unchanged at 98.7%.
Positive reversion driven by Singapore and the US.
- Leases renewed for multi-tenanted buildings achieved a positive rental reversion of 7.6% in 4Q25. Rental reversions were robust at 26.7% for business space & life science in Singapore, and 22.9% for logistics properties in the US. The largest source of new demand was logistics & supply chain management, electronics and IT & data centres.
- - Read this at SGinvestors.io -
Rated A3 by Moody’s.
- Aggregate leverage was healthy at 39.0% as of Dec 25. CapitaLand Ascendas REIT’s average cost of debt eased 0.2ppt y-o-y to 3.5%. Management expects cost of debt to maintain at 3.5% for 2026.
NAV per unit increased 0.9% to S$2.29.
- Read more at SGinvestors.io.
