CapitaLand Ascendas REIT has reported net property and distributable income for its 2HFY2025. However, its DPU of 7.528 cents for its half year ended Dec 2025 was down 2% because of a larger unit base following last June's equity fund-raising. This brings its full-year DPU to 15.005 cents, down 1.3% y-o-y to 15.205 cents.
According to CLAR, its higher net property income was partly supported by lower operating costs.
As at Dec 31, CLAR's portfolio was valued at $18.2 billion, up 8.6% y-o-y, lifted mainly by new acquisitions and the completion of a redevelopment in FY2025.
"Our ability to transact at scale reflects the depth of our local market knowledge, strong support from our sponsor, the CapitaLand Group, and disciplined capital management," says Dr Beh Swan Gin, chairman of the REIT's manager.
"Looking ahead, we will remain selective and proactive in evaluating growth opportunities in developed markets with robust fundamentals, compelling risk-adjusted returns, and assets that align with our portfolio objectives, while maintaining a strong balance sheet,” he adds.
William Tay, CEO of the manager, notes that CLAR has continued to deliver growth in distributable income against a backdrop of economic uncertainty in 2025.
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The REIT was able to achieve rental reversions of 12.0%, which he says is a reflection of the quality and relevance of CLAR's portfolio.
"We will continue to pursue our portfolio rejuvenation strategy, enhance long-term income sustainability and create additional value for unitholders," he says.
As at Dec 31, the REIT's portfolio occupancy rate was 90.9%.
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Its gearing was at 39% and weighted average all-in borrowing cost was 3.5% per annum for FY2025, down from 3.7% for FY2024.
CLAR units closed at $2.86 on Feb 5, up 0.35%
