CapitaLand Ascendas REIT's Earnings Seen Weighed by Higher Gearing, Costs -- Market Talk

Dow Jones04-23

0318 GMT - CapitaLand Ascendas REIT's distribution per unit forecast for FY 2024 has been lowered 1%-2% by Maybank to factor in lower revenue and higher borrowing costs. Analyst Krishna Guha sees a mixed trend for the REIT's fiscal 1Q business update. While rental reversion guidance has been maintained at a mid-single-digit range, debt metrics were sequentially weaker with higher gearing and borrowing cost. Management had guided for 4% borrowing cost for FY 2024's last quarter, which may have an upward bias, as no refinancing was done in 1Q except for higher committed facility, Guha says. Maybank cuts its target price for the stock to S$2.65 from S$2.75 on its weaker operating trend and limited upside, and maintains a hold rating. Units were last at S$2.59. (monica.gupta@wsj.com)

(END) Dow Jones Newswires

April 22, 2024 23:18 ET (03:18 GMT)

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Analyst Krishna Guha sees a ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"A17U.SI","symbol_name":"凯德腾飞房产信托","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2429136190","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2429136190","pubTimestamp":1713842280,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0318 GMT - CapitaLand Ascendas REIT's distribution per unit forecast for FY 2024 has been lowered 1%-2% by Maybank to factor in lower revenue and higher borrowing costs. 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