CapitaLand Ascendas Reit Coming Dividend

$ASCENDAS REAL ESTATE INV TRUST(A17U.SI)$ Coming Dividend S$0.07925 per share. Ex-date is on 9 Feb 23, Payment Date is on 7 Mar 23, Dividend Yield is 5.17% based on the share price of S$2.99 on 3 Feb 23.

On 2 Feb 2023 The Board of Directors of CapitaLand Ascendas REIT Management Limited (the Manager), the Manager of CapitaLand Ascendas REIT (CLAR) reported that gross revenue for FY2022 rose by 10.3% y-o-y to S$1.35 billion. The increase was mainly attributed to contributions from a built-to-suit development in Singapore, as well as newly acquired properties in Singapore, the UK/Europe, the US, and Australia during FY2021 and FY2022.

Net property income (NPI) rose by 5.2% y-o-y to S$968.8 million despite cost pressures. The total amount available for distribution rose 5.4% y-o-y to S$663.9 million. DPU rose 3.5% to 15.798 Singapore cents for FY2022 due to the increase in NPI and the absence of the Manager’s performance fee, which was partially offset by an increase in borrowing costs.

CLAR completed S$223.4 million of acquisitions in 2022. The funds were deployed into the robust logistics sector in the US and Australia. In Australia, two newly developed logistics properties, 500 Green Road (S$69.1 million) located in Brisbane, and 7 Kiora Crescent (S$21.1 million) located in Sydney, were acquired in February 2022. In the US, seven last-mile logistics properties located in Chicago were acquired for S$133.2 million in June 2022.

Overall, the portfolio occupancy rate recorded a 10-year high of 94.6% (30 September 2022: 94.5%) driven by improvements in Singapore and Australia.

A positive average rental reversion of 8.0% was achieved for leases that were renewed in multi-tenant buildings during 2022. Average rental reversions of +7.0%, +29.2%, +14.2%, and +11.7% were achieved in Singapore, the US, Australia, and the UK/Europe respectively. The average rental reversion for leases signed in 4Q FY2022 was +8.0%.

The Logistics & Supply Chain Management, Information Technology & Data Centres, Engineering and Biomedical & Agri/Aquaculture sectors were the largest sources of new demand by gross rental income in FY2022.

The portfolio’s weighted average lease expiry (WALE) period stood at 3.8 years and about 21.0% of CLAR’s gross rental income will be due for renewal in FY2023.

As of 31 December 2022, CLAR owned 227 investment properties worth S$16.4 billion. This comprised S$10.1 billion (61.5%) of properties in Singapore, S$2.5 billion (15.3%) in the US, S$2.3 billion (14.2%) in Australia and S$1.5 billion (9.0%) in the UK/Europe.