CapitaLand Ascott Trust Posts 14.1% Rise in H2 DPS to S$0.038

The Business Times01-29

CAPITALAND Ascott Trust’s (Clas) on Monday (Jan 29) posted a 14.1 per cent rise in distribution per stapled security (DPS) to S$0.038 for the second half ended Dec 31, 2023, from S$0.0333 in the year-...

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This was partially offset by a drop in revenue from the divestment of four French properties in September 2023.The stapled group acquired nine properties in Australia, France, Japan, Vietnam and the US, two turnkey rental housing properties in Japan, two turnkey rental housing properties in Japan and three properties in Indonesia, Ireland and the UK.It recorded a 10 per cent increase in revenue per available unit of S$157 for H2 2023, reaching 103 per cent or pre-pandemic levels in H2 2019, on a pro-forma basis.Clas’ total distribution was up 24.4 per cent to S$140.8 million from S$113.2 million in the same period the previous year. The distribution will be paid out on Feb 29, after the record date on Feb 6.For the full year ended Dec 31, 2023, DPS rose 15.9 per cent on the year to S$0.0657 from S$0.0567. After adjusting for one-off items, DPS stood at S$0.0544, up 14 per cent from S$0.0479 recorded in the same period the year before.Revenue for the full-year period was up 19.8 per cent to S$744.6 million, while total distribution climbed 24.9 per cent to S$237 million.Clas’ gearing stood at 37.9 per cent as at Dec 31, 2023, with a debt headroom of about S$2 billion. The stapled group raised its proportion of debt on fixed rates to 81 per cent and has some S$1.32 billion in cash and available credit facilities.Clas’ stapled securities finished Friday 0.5 per cent or S$0.005 lower at S$0.93.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":2,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2407725860"}