CapitaLand Ascendas REIT's Latest Proposed Acquisitions Seem Positive -- Market Talk

Dow Jones2025-06-02

0755 GMT - CapitaLand Ascendas REIT's latest proposed acquisitions appear positive, RHB Research's Vijay Natarajan says in a report. The acquisitions would increase its exposure to the high-quality and in-demand data center segment in Singapore, the analyst says. The REIT recently proposed acquiring a tier-3 co-location data center and a premium business park space, the analyst adds. There is good upside potential for the data center, with in-place rental at around 30% below the market rate, and strong possibility for further rent growth from a tight market vacancy rate of roughly 2% and a limited supply pipeline. RHB maintains a buy rating and a target price of S$3.20. Units are 1.5% lower at S$2.61. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

June 02, 2025 03:56 ET (07:56 GMT)

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There is good upside potential for the data center, with in-place rental at around 30% below the market rate, and strong possibility for further rent growth from a tight market vacancy rate of roughly 2% and a limited supply pipeline. RHB maintains a buy rating and a target price of S$3.20. Units are 1.5% lower at S$2.61. 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