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Analysts mostly keep estimates on CLAR after 1QFY2024 update

Douglas Toh
Douglas Toh • 5 min read
Analysts mostly keep estimates on CLAR after 1QFY2024 update
The REIT's drop in occupancy mostly stems from the expiry of a single tenant in Australia. Photo: CLAR
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Following CapitaLand Ascendas REIT (SGX:A17U) ’s (CLAR) business update for the 1QFY2024 ended March 31,analysts are mostly pleased with the REIT’s strong rental revisions, despite its decline in portfolio occupancy.

RHB Bank Singapore, CGS International, DBS Group Research and Citi Research have all kept their “buy” and “add” calls at unchanged target prices of $3.20, $3.06, $3.25 and $3.00 respectively.

Meanwhile, Maybank Securities has kept its “hold” call at a lower target price of $2.65 from $2.75 previously.

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