- 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.
Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.
Jonathan KOH CFA UOB Kay Hian Research | https://research.uobkayhian.com/ 2026-02-09
Read also UOB's most recent report:
2026-05-25 CapitaLand Ascendas REIT - Untapped Potential At 25 Loyang Crescent; Maiden Entry Into Japan.
Price targets by 2 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
