CapitaLand Ascendas REIT Still an Attractive Bet -- Market Talk

Dow Jones2022-11-01

0439 GMT - CapitaLand Ascendas REIT remains an attractive bet among Singapore REITs despite a slightly higher unit price than some peers, Citi analysts say in a research note. CapitaLand Ascendas REIT's latest 3Q business update "painted a broadly healthy industrial operational landscape," with both renewal rental rates and portfolio occupancy improving, they note. The REIT's move to charge higher service fees for its Singapore properties is another positive, as this could help mitigate rising operational costs, Citi says. It maintains a buy call on the REIT, citing decent 2022 and 2023 DPU growth estimates of 7% and 5%, respectively. (yifan.wang@wsj.com)

(END) Dow Jones Newswires

November 01, 2022 00:39 ET (04:39 GMT)

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