| Latest Forum Topics / CapLand Ascott T Last:0.885 -- |
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Trust in its recovery
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Alignment
Elite |
31-May-2026 09:48
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Exit yield of 2.3% sounds good. An accounting question: it seemed to me a net gain of $38m implied a higher gain above book value than 4%. Looking at the actual press release showed that the value of the hotel in the accounts consisted of book value plus an " asset revaluation reserve" . I thought the book value of an investment property is the current/latest valuation already, so why is there the need for an asset revaluation reserve? |
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Joelton
Supreme |
30-May-2026 13:47
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CapitaLand Ascott Trust to divest The Robertson House for S$360 million The hotel in Robertson Quay will be divested at 4% above book value [SINGAPORE] CapitaLand Ascott Trust (Clas) : HMN +1.12% will sell its upscale hotel, The Robertson House by The Crest Collection, to an unrelated third party for S$360 million, it said on Friday (May 29). The hotel, located along Unity Street in Singapore, will be divested at 4 per cent above book value, and an exit yield of 2.3 per cent, the trust said in a bourse filing. The hotel has 336 units, and takes up a total of 11,056 square metres (sqm). It was completed in 2023, and has a lease of 99 years that commenced from Nov 27, 2006 &ndash with about 79 years of the term left. The net proceeds from the divestment are S$341.7 million and the hospitality trust will recognise a net gain of around S$38.1 million. The transaction is expected to be completed in the third quarter of 2026. For the sale figure, Clas took into account the independent valuation by investment firm Colliers, which valued the property at S$346 million as at Dec 31, 2025. Serena Teo, chief executive officer of the managers of Clas, said that the divestment is at an &ldquo attractive price&rdquo of close to S$1.1 million per key, and underscores the trust&rsquo s disciplined approach to portfolio reconstitution. The proposed divestment also allows Clas to redeploy the proceeds into higher-yielding properties, support its asset enhancement initiatives, repay higher-interest debt, and fund general corporate purposes, said Teo. Assuming that the transaction had been completed on Jan 1, 2025, on a pro forma basis, Clas&rsquo total distribution would be lower at S$226 million, while dividend per stapled security would have been S$0.0591. Distribution yield would be 6.16 per cent. Post-divestment, Clas will have four lodging properties in Singapore. Three properties &ndash Ascott Orchard Singapore, lyf one-north Singapore and lyf Funan Singapore &ndash are operational. The fourth property, Somerset Clarke Quay Singapore, is under redevelopment and is on track to be completed around end-2026. It is expected to begin contributing income progressively from early 2027. Stapled securities of Clas ended Thursday 0.6 per cent or S$0.005 lower at S$0.895. |
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Alignment
Elite |
28-Apr-2026 13:54
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https://links.sgx.com/1.0.0/corporate-announcements/8SLWP8QUAJ2C4DU0/b5cc3a424107a60ebed3de39cae12ad3b38575caee6c47f762bebac8bfa0959c There' s quite a lot of development work going on right now at Ascott. But management planned ahead so headroom to pay capital returns to keep DPU stable. Then a lot of growth coming when developments finish. The best managed hospitality trust in my opinion, and with the highest DPU yield. |
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Joelton
Supreme |
28-Apr-2026 11:32
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CapitaLand Ascott Trust Q1 distribution income &lsquo relatively stable&rsquo RevPAU up 1% at S$137 in corporate strategy, capital management and IR. The listing rule changes SGX RegCo unveiled last week would ensure that issuers actually make use of these skills to deliver shareholder value. This also seems to be an opportune moment to push issuers to adopt a more shareholder friendly stance. Through the Equity Market Development Programme, a total of S$6.5 billion is in the process of being allocated to fund management firms with a strong focus on Singapore stocks. SGX has also announced moves to drive price discovery and reduce trading friction &ndash for example, through the reduction in the board lot size of higher priced stocks. The result has been a strong market rally and heightened trading volumes. Since the beginning of 2025, the Straits Times Index has advanced nearly 30 per cent while the iEdge Singapore Next 50 Index has climbed 33.9 per cent. In March, securities market turnover increased 78 per cent year on year to S$52.8 billion. Securities daily average value for the month was S$2.4 billion, up 62 per cent year on year. Against this backdrop, companies that take steps to unlock value, or that simply have the potential to do so, are likely to see their shares re-rated by the market. Despite the concerns some market watchers have raised about smaller companies lacking the wherewithal to cope with the additional compliance burden, it seems unlikely to me that many corporate boards will resist SGX RegCo&rsquo s push for better disclosures in the current climate. Not prescriptive enough? Judging from the examples SGX RegCo provided in its consultation paper, the enhanced disclosures do not even seem all that onerous. One suggested dividend policy description reads: &ldquo In balancing the need for a satisfactory return to shareholders against the company&rsquo s investment requirements to ensure sustainable growth, the company&rsquo s dividend policy does not adopt any quantified dividend targets or fixed payout ratios. &ldquo The board will declare or recommend dividends where it considers that doing so is appropriate, having regard to the availability of distributable profits, reserves and cash, working capital requirements, projected capital expenditure, and investment requirements.&rdquo In my view, this could serve as a handy motherhood statement for companies that do not have a dividend policy. The big question is whether the enhanced disclosures have the intended effect of unleashing the disciplining power of the market. If a company with an underperforming share price were to publish such an uninformative dividend policy in its annual report, its shareholders may begin asking tough questions about its capital expenditure needs, and whether its balance sheet could be better managed. Indeed, SGX RegCo is seeking feedback through its public consultation on whether the proposed requirement for issuers to maintain and describe their dividend policy should be broadened to cover other aspects of their capital management framework. My sense is that SGX RegCo should just go ahead and ask that boards provide more transparency on their thinking around the issue of capital management. Investors are not just entitled to their share of a company&rsquo s dividend payouts they are also collective owners of its retained earnings, and will naturally be interested in how those funds are used. Yet, many institutional investors may simply not engage with companies that are not already expressing a strong narrative on shareholder value &ndash especially the small and mid-cap companies that are not part of a key market index. Hence, a more prescriptive approach seems warranted here. In my view, SGX RegCo should ask companies to describe how they prioritise organic growth, acquisitions, debt management and returning capital to shareholders. Companies should also be asked under what circumstances they would pursue share buybacks instead of paying dividends. |
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Joelton
Supreme |
28-Apr-2026 11:31
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OCBC' s Lim maintains ' buy' on CLAS but lowers fair value to 95 cents Ada Lim of OCBC Group Research has maintained her " buy" call but reduced her fair value for CapitaLand Ascott Trust (CLAS) from $1.01 to 95 cents, after factoring in higher risk premium from the geopolitical tensions in the Middle East. In its first quarter business update, gross profit for the quarter was lower because of the closure of various properties. On the other hand, the REIT managed stronger same-store operating performance. Operationally, portfolio revenue per available unit (RevPAU) grew 1% y-o-y to $137 on a same-store basis, driven by average daily rates (ADR) while occupancy was flat at 77%. Distribution income for the quarter remained relatively stable due to top-ups from past divestment gains and lower interest costs. In her April 27 note, Lim says that CLAS is not directly impacted by the Iran war as it does not have properties located in the Gulf Area. As a source market, the Middle East makes up around 2% of total guests at its Ascott-managed properties. However, second-order effects will likely take time to emerge and are challenging to quantify, and that the conflict, if prolonged will lead to higher airfares as jet fuel scarcity may weigh on long-haul travel demand, partially offset by stronger domestic and regional demand. Meanwhile, CLAS has to manage lofty energy prices which will lead to higher operating costs. In FY2025, electricity made up around 4% of the REIT' s operating costs. According to Lim, utility costs for master leases and living sector assets are largely borne by the master lessees and tenants, respectively. For management contracts and management contracts with minimum guaranteed income, CLAS has secured fixed rates with energy brokers until the end of 2026 in most instances. As such, CLAS is looking to defer non-critical capex, and AEI schedules may be adjusted in view of potentially higher renovation costs. " We think CLAS&rsquo s performance should remain resilient given its exposure to stable income sources," says Lim, referring to how 67% of CLAS' s 1QFY2026 gross profit are as such. Lim has kept her dividend per share forecast but has trimmed that of the coming FY2027' s by 0.2%. She has also increased her cost of equity assumption to 7.7% on higher equity risk premium to account for uncertainties from the war. CLAS, which last traded at 91 cents, is down 6.25% year to date. |
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JurongW
Elite |
31-Mar-2026 17:28
Yells: "Earnings give weight, Chart give wings" |
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CapitaLand Ascott Trust' s Business Updates for the first quarter ended 31 March 2026 will be released on Monday, 27 April 2026, before market open. |
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Alignment
Elite |
15-Mar-2026 18:59
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Middle East going to be a desert for some time in terms of holidays and long lets. Good for any hospitality business with no Middle East exposure. | ||
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Alignment
Elite |
11-Mar-2026 21:46
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It looks like this was just DBS buying (presumably on behalf of someone it is a custodian for). Temasek reports this because it is deemed to control DBS. | ||
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JurongW
Elite |
11-Mar-2026 20:26
Yells: "Earnings give weight, Chart give wings" |
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Temasek buys 1,813,300 units at $0.915 on 4 Mar 26 https://links.sgx.com/1.0.0/corporate-announcements/AKPEU9N55UUQD08I/878099__CLAS%2020260310%20FORM%203%20TH_final.pdf |
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Alignment
Elite |
25-Feb-2026 13:57
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This is a bit disappointing. Net income operating entry yield of 4.1% looks a bit low, and saying there is accretion is not that impressive if it is all being funded by JPY debt. It would be better to use the company' s debt capacity to buy assets that have a higher yield.
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temp123
Senior |
24-Feb-2026 14:53
Yells: "." |
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wait until sg' s 10th pm?
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Joelton
Supreme |
24-Feb-2026 12:12
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CapitaLand Ascott Trust expands Japan portfolio with 4.6 billion yen acquisition It acquires three freehold rental housing properties in Southern Kanagawa, Greater Tokyo [SINGAPORE] CapitaLand Ascott Trust : HMN -1.02% (Clas) on Monday (Feb 23) announced the acquisition of three freehold rental housing properties in Southern Kanagawa, Greater Tokyo, for 4.6 billion yen (S$38.3 million) from an unrelated third party, Patience Capital Group. The three newly acquired operating properties &ndash Lime Residence Hiratsuka West, Lime Residence Hiratsuka East, and Live Casa Hiratsuka &ndash were built between two and four years ago. The assets have an average occupancy of more than 95 per cent and average lease terms of about two years, providing stable income, noted Clas. They have a blended net operating income entry yield of 4.1 per cent (on a FY2025 pro forma basis) and an expected 0.2 per cent distribution per stapled security accretion. The acquisition was fully funded by Japanese yen-denominated debt. Serena Teo, CEO of Clas&rsquo managers, said: &ldquo The acquisition is in line with our strategy to strengthen Clas&rsquo presence in key markets while building a resilient portfolio anchored in stable and recurring income streams. &ldquo It expands our living-sector portfolio with prime rental housing, which is seeing high demand from the large and diverse working-age population in Greater Tokyo amid limited new supply.&rdquo Located along the Sagami Bay coastline in the southern part of Kanagawa, the assets are positioned to serve the working-age population and foreign workers in Kanagawa. The proximity to industrial areas and transport links that provide a 60-minute commute to central Tokyo are added benefits. Following this deal, living-sector assets comprise 17.5 per cent of Clas&rsquo portfolio value. This move is part of a broader strategy to reach a medium-term target of 25 to 30 per cent allocation in the living sector. The trust now holds 35 properties in Japan, having recently expanded its footprint through the 2025 acquisitions of hotels in Tokyo and Kanazawa, as well as rental housing in Kyoto and Osaka. The stapled securities of Clas ended S$0.01 or 1 per cent lower at S$0.975 on Monday. |
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spore1
Supreme |
15-Feb-2026 23:12
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She is on the way to test 1.01 | ||
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Alignment
Elite |
15-Feb-2026 21:58
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Creates the prospect of a virtuous circle - rising share price means easier to do DPU accretive deals, thereby doing DPU accretive deals, thereby creating rising share price, repeat... | ||
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Joelton
Supreme |
11-Feb-2026 11:48
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Ascott signs record 19,000 units in 2025, up 27% y-o-y The Ascott, the wholly owned lodging business unit of CapitaLand Investment (CLI), signed a record 19,000 units across 102 properties in 2025, marking 27% y-o-y growth. Ascott generates fee-related revenue for CLI. Its asset-light expansion was led by higher fee segments such as resorts, supported by accelerating franchise momentum and strong conversion activity, says the owner of brands like Citadines, Lyf and Oakwood. In 2025, Ascott entered more than 10 new cities across Asia Pacific and Europe, growing its global footprint to over 230 cities in more than 40 countries. The company now operates and has under development more than 1,000 properties with over 176,000 units globally, according to a Feb 9 announcement. The flagship Ascott brand recorded 10 new signings, expanding its global portfolio to 87 properties including operational and pipeline assets. The 185-room Ascott Nangang Taipei in Nangang Software Park is scheduled to open in 1Q2027, marking Ascott&rsquo s entry into Taipei. Located in one of the city&rsquo s premier business districts, the serviced residence is part of a prime mixed-use development that also houses Taiwan Fertilizer&rsquo s headquarters and multinational firms like HP, Yahoo, Philips and Intel. Closer to home, new additions include the 207-room Ascott Coronation Square Johor Bahru, which will be located in the Ibrahim International Business District of the Johor-Singapore Special Economic Zone, with direct connection to the upcoming Rapid Transit System Line. Last month, Ascott unveiled the Ascott Shenton Way Singapore, the brand&rsquo s third property here. Expected to be completed in 4Q2029, the 29-storey mixed-use development at 15 Enggor Street will offer 42 hotel rooms and 95 serviced apartments. In 2025, Citadines surpassed 200 properties globally with 17 new signings, boosted by its &ldquo conversion-friendly positioning&rdquo while Oakwood secured 16 signings, maintaining &ldquo strong owner appeal&rdquo across business, leisure and extended-stay segments, according to Ascott. Ascott&rsquo s collection brands also continued their expansion &mdash The Unlimited Collection expanded into Africa and Europe, while The Crest Collection entered the Middle East. Following the signing of The Unlimited Collection in Casablanca, Morocco, Ascott&rsquo s portfolio in &ldquo one of Africa&rsquo s most dynamic hospitality markets&rdquo now comprises 10 operational and pipeline properties across Casablanca, Tangier and Marrakech. Franchise growth More than a quarter of the units signed in 2025 were under franchise agreements, supporting Ascott&rsquo s asset-light expansion. Franchise momentum in East Asia accelerated as the company strengthened its regional pipeline. Five Quest properties were secured in China through Ascott&rsquo s joint venture with Jin Jiang, alongside four franchise agreements to expand Citadines&rsquo presence in the country. The largest franchise signing of the year was the 510-key Oakwood in Gangneung, South Korea, a resort-led development in Gangneung&rsquo s Cultural Olympic Special Zone, located two hours away from Seoul by high-speed train. In other regions, Ascott&rsquo s Quest franchise contributed five new signings in Australia. Over 38% of units signed in 2025 were conversions, &ldquo reflecting owners&rsquo preference for faster, lower-risk routes to market&rdquo , says Ascott. Recent conversions, including Citadines Antasari Jakarta, Oakwood Bencoolen Singapore and Lyf Zhangjiang Shanghai, were completed &ldquo within months of signing&rdquo , according to Ascott. Lyf Zhangjiang Shanghai sits within China&rsquo s national hub for science and technology innovation, at the heart of the Pudong New Area. With 150 units, each room comes with a fully equipped kitchen Resort portfolio expansion Capitalising on leisure travel demand, Ascott drove 15 resort signings in locations like Phuket, Phu Quoc, Nha Trang and Bali, expanding its portfolio in resort destinations to over 50 properties. The 693-unit Harris Resort Cam Ranh &mdash slated to open this year &mdash marks the brand&rsquo s first entry into Vietnam, alongside a 250-unit Lyf and a 120-unit Somerset at Lagoon City Seville, Spain, a mixed-use development anchored by an 18,000 sqm man-made lagoon. The company also expanded its branded residences portfolio by partnering with developers on two new properties, adding over 1,000 units: Residences at Ascott Abov Patong Phuket, next to Ascott Abov Patong Phuket Resort and Oakwood Premier Branded Residences Luohu Shenzhen, co-located with Oakwood Premier Luohu Shenzhen Ascott&rsquo s Oakwood Premier Branded Residences Luohu Shenzhen will feature 792 residential units, sharing the same building as the 450-unit Oakwood Premier Luohu Shenzhen According to Ascott, co-locating branded residences with its hotels &ldquo enhances operational and marketing synergies&rdquo . Serena Lim, Ascott&rsquo s chief growth officer, says consumers are seeking &ldquo greater flexibility and choice&rdquo in how they live, work and explore. &ldquo Guided by insights from our owners and guests, we have pursued a deliberate growth strategy anchored in our flex-hybrid model and a differentiated suite of flexible living offerings.&rdquo Lim adds that approximately 30% of new signings came from existing partners expanding with Ascott. Ascott CEO Kevin Goh says the new signings provide embedded income to exceed the company&rsquo s $500 million fee target, which was announced in April 2023. &ldquo Our flex-hybrid model and multi-typology brand strategy enable us to optimise performance for property owners across market cycles, while disciplined investments in loyalty, technology and business development position us to capture growth in higher-fee segments including resorts, branded residences, MICE (Meetings, Incentives, Conventions, Exhibitions) and wellness.&rdquo |
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Joelton
Supreme |
11-Feb-2026 11:47
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Analysts stay positive on CLAS thanks to its consistency and stability CapitaLand Ascott Trust (CLAS) had recently announced its FY2025 ended Dec 31, 2025 results, which saw DPS unchanged y-o-y at 6.1 cents. For the 2HFY2025 period, DPS was 1% up y-o-y at 3.58 cents. Income available for distribution rose 11% y-o-y to $256.7 million in FY2025. The increase was driven by higher gross profit, underpinned by stronger operating performance and portfolio reconstitution, and higher non-periodic items. Revenue and gross profit increased 3% and 4% y-o-y in FY2025 to $837.6 million and $439.1 million respectively. See more: CapitaLand Ascott Trust announces unchanged distribution per stapled security in FY2025 Following the results announcement, analysts are keeping a positive outlook on CLAS, while maintaining their &ldquo buy&rdquo and &ldquo accumulate&rdquo calls on the hospitality trust. UOB Kay Hian (UOBKH) has an unchaged target price of $1.42 and analyst Jonathan Koh notes that the living sector accounted for 17% of CLAS&rsquo portfolio valuation as of December 2025 (student accommodation: 11%, rental housing: 6%). &ldquo CLAS continues to reposition toward the living sector. It intends to acquire student accommodations in the UK (yield: 5-6%) and Singapore (yield: 5%). It is scouting for rental housing in Tokyo, Osaka and Fukuoka in Japan (yield: 4%),&rdquo says Koh. The way he sees it, CLAS could see growth on higher occupancies and asset enhancement initiatives (AEIs). CLAS has planned five AEIs in 2026 and 2027. He also sees growth opportunities for CLAS in Australia with a strong sports events calendar, Singapore as its events calendar sees a recovery and US thanks to its strong domestic travel. Similarly, Maybank Securities has also maintained its $1.05 target on CLAS&rsquo diversified portfolio and proactive portfolio management. Analyst Krishna Guha expects FY2025 DPS to come in at 6.1 cents, while raising FY2027 DPS forecast by about 1.7% to 6.2 cents, factoring in asset enhancements and portfolio rebalancing. Risks Guha has noted include slower recovery of demand from corporates, Chinese tourists and international students master lease renewals lower margins and higher interest rates. OCBC Investment Research has a fair value estimate of $1.01, a slight notch down from $1.02 previously. Analyst Ada Lim says: &ldquo We are somewhat disappointed that management has reiterated its guidance for FY2026 DPS to be stable instead of a return to growth, as non-recurring income is deployed to top up loss of income from AEIs meant to strengthen the overall portfolio.&rdquo &ldquo While investors typically buy into S-REITs for stability, zero growth for potentially two consecutive years causes us to turn incrementally less constructive on the counter,&rdquo she says, but keeps her &ldquo buy&rdquo call, as CLAS&rsquo s total returns potential still exceeds 10%. On the outlook, Lim notes that while discretionary travel spending is levered to the ebbs and flows of the economic cycle, she likes that CLAS&rsquo s portfolio is well-diversified across many geographies the REIT enjoys income from a mix of stable and growth sources and CLAS has exposure to the living sector &ndash including student accommodation in the US and rental housing in Japan &ndash for which demand is less likely to be affected by any weakening in the global macroeconomic outlook. &ldquo We also see CLAS&rsquo s ongoing portfolio rejuvenation as a positive for long-term growth and sustainability,&rdquo she adds. PhillipCapital&rsquo s Darren Chan keeps his &ldquo accumulate&rdquo rating and has increased his target price on CLAS to $1.08 from $1.05. CLAS is also the brokerage&rsquo s top pick in the hospitality sector, underpinned by its balanced mix of stable and growth income streams, alongside strong geographical diversification for earnings resilience. &ldquo We expect low single-digit portfolio RevPAU growth in FY2026, supported by improving occupancy. CLAS has guided to a stable DPS y-o-y for FY2026 at 6.1 cents, supported by past divestment gains used to offset the impact of major ongoing AEIs. There is over $300 million of such gains still available on the balance sheet,&rdquo says Chan, adding that the current share price of 98 cents implies an FY2026 dividend yield of 6.2%. As at 11.50am, shares in CLAS are trading at 98 cents. |
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Joelton
Supreme |
10-Feb-2026 11:13
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Ascott signs record 19,000 units in 2025, up 27% y-o-y The Ascott, the wholly owned lodging business unit of CapitaLand Investment (CLI), signed a record 19,000 units across 102 properties in 2025, marking 27% y-o-y growth. Ascott generates fee-related revenue for CLI. Its asset-light expansion was led by higher fee segments such as resorts, supported by accelerating franchise momentum and strong conversion activity, says the owner of brands like Citadines, Lyf and Oakwood. In 2025, Ascott entered more than 10 new cities across Asia Pacific and Europe, growing its global footprint to over 230 cities in more than 40 countries. The company now operates and has under development more than 1,000 properties with over 176,000 units globally, according to a Feb 9 announcement. The flagship Ascott brand recorded 10 new signings, expanding its global portfolio to 87 properties including operational and pipeline assets. The 185-room Ascott Nangang Taipei in Nangang Software Park is scheduled to open in 1Q2027, marking Ascott&rsquo s entry into Taipei. Located in one of the city&rsquo s premier business districts, the serviced residence is part of a prime mixed-use development that also houses Taiwan Fertilizer&rsquo s headquarters and multinational firms like HP, Yahoo, Philips and Intel. Closer to home, new additions include the 207-room Ascott Coronation Square Johor Bahru, which will be located in the Ibrahim International Business District of the Johor-Singapore Special Economic Zone, with direct connection to the upcoming Rapid Transit System Line. Last month, Ascott unveiled the Ascott Shenton Way Singapore, the brand&rsquo s third property here. Expected to be completed in 4Q2029, the 29-storey mixed-use development at 15 Enggor Street will offer 42 hotel rooms and 95 serviced apartments. In 2025, Citadines surpassed 200 properties globally with 17 new signings, boosted by its &ldquo conversion-friendly positioning&rdquo while Oakwood secured 16 signings, maintaining &ldquo strong owner appeal&rdquo across business, leisure and extended-stay segments, according to Ascott. Ascott&rsquo s collection brands also continued their expansion &mdash The Unlimited Collection expanded into Africa and Europe, while The Crest Collection entered the Middle East. Following the signing of The Unlimited Collection in Casablanca, Morocco, Ascott&rsquo s portfolio in &ldquo one of Africa&rsquo s most dynamic hospitality markets&rdquo now comprises 10 operational and pipeline properties across Casablanca, Tangier and Marrakech. Franchise growth More than a quarter of the units signed in 2025 were under franchise agreements, supporting Ascott&rsquo s asset-light expansion. Franchise momentum in East Asia accelerated as the company strengthened its regional pipeline. Five Quest properties were secured in China through Ascott&rsquo s joint venture with Jin Jiang, alongside four franchise agreements to expand Citadines&rsquo presence in the country. The largest franchise signing of the year was the 510-key Oakwood in Gangneung, South Korea, a resort-led development in Gangneung&rsquo s Cultural Olympic Special Zone, located two hours away from Seoul by high-speed train. In other regions, Ascott&rsquo s Quest franchise contributed five new signings in Australia. Over 38% of units signed in 2025 were conversions, &ldquo reflecting owners&rsquo preference for faster, lower-risk routes to market&rdquo , says Ascott. Recent conversions, including Citadines Antasari Jakarta, Oakwood Bencoolen Singapore and Lyf Zhangjiang Shanghai, were completed &ldquo within months of signing&rdquo , according to Ascott. Lyf Zhangjiang Shanghai sits within China&rsquo s national hub for science and technology innovation, at the heart of the Pudong New Area. With 150 units, each room comes with a fully equipped kitchen Resort portfolio expansion Capitalising on leisure travel demand, Ascott drove 15 resort signings in locations like Phuket, Phu Quoc, Nha Trang and Bali, expanding its portfolio in resort destinations to over 50 properties. The 693-unit Harris Resort Cam Ranh &mdash slated to open this year &mdash marks the brand&rsquo s first entry into Vietnam, alongside a 250-unit Lyf and a 120-unit Somerset at Lagoon City Seville, Spain, a mixed-use development anchored by an 18,000 sqm man-made lagoon. The company also expanded its branded residences portfolio by partnering with developers on two new properties, adding over 1,000 units: Residences at Ascott Abov Patong Phuket, next to Ascott Abov Patong Phuket Resort and Oakwood Premier Branded Residences Luohu Shenzhen, co-located with Oakwood Premier Luohu Shenzhen Ascott&rsquo s Oakwood Premier Branded Residences Luohu Shenzhen will feature 792 residential units, sharing the same building as the 450-unit Oakwood Premier Luohu Shenzhen According to Ascott, co-locating branded residences with its hotels &ldquo enhances operational and marketing synergies&rdquo . Serena Lim, Ascott&rsquo s chief growth officer, says consumers are seeking &ldquo greater flexibility and choice&rdquo in how they live, work and explore. &ldquo Guided by insights from our owners and guests, we have pursued a deliberate growth strategy anchored in our flex-hybrid model and a differentiated suite of flexible living offerings.&rdquo Lim adds that approximately 30% of new signings came from existing partners expanding with Ascott. Ascott CEO Kevin Goh says the new signings provide embedded income to exceed the company&rsquo s $500 million fee target, which was announced in April 2023. &ldquo Our flex-hybrid model and multi-typology brand strategy enable us to optimise performance for property owners across market cycles, while disciplined investments in loyalty, technology and business development position us to capture growth in higher-fee segments including resorts, branded residences, MICE (Meetings, Incentives, Conventions, Exhibitions) and wellness.&rdquo |
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Joelton
Supreme |
10-Feb-2026 11:11
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Analysts stay positive on CLAS thanks to its consistency and stability CapitaLand Ascott Trust (CLAS) had recently announced its FY2025 ended Dec 31, 2025 results, which saw DPS unchanged y-o-y at 6.1 cents. For the 2HFY2025 period, DPS was 1% up y-o-y at 3.58 cents. Income available for distribution rose 11% y-o-y to $256.7 million in FY2025. The increase was driven by higher gross profit, underpinned by stronger operating performance and portfolio reconstitution, and higher non-periodic items. Revenue and gross profit increased 3% and 4% y-o-y in FY2025 to $837.6 million and $439.1 million respectively. See more: CapitaLand Ascott Trust announces unchanged distribution per stapled security in FY2025 Following the results announcement, analysts are keeping a positive outlook on CLAS, while maintaining their &ldquo buy&rdquo and &ldquo accumulate&rdquo calls on the hospitality trust. UOB Kay Hian (UOBKH) has an unchaged target price of $1.42 and analyst Jonathan Koh notes that the living sector accounted for 17% of CLAS&rsquo portfolio valuation as of December 2025 (student accommodation: 11%, rental housing: 6%). &ldquo CLAS continues to reposition toward the living sector. It intends to acquire student accommodations in the UK (yield: 5-6%) and Singapore (yield: 5%). It is scouting for rental housing in Tokyo, Osaka and Fukuoka in Japan (yield: 4%),&rdquo says Koh. The way he sees it, CLAS could see growth on higher occupancies and asset enhancement initiatives (AEIs). CLAS has planned five AEIs in 2026 and 2027. He also sees growth opportunities for CLAS in Australia with a strong sports events calendar, Singapore as its events calendar sees a recovery and US thanks to its strong domestic travel. Similarly, Maybank Securities has also maintained its $1.05 target on CLAS&rsquo diversified portfolio and proactive portfolio management. Analyst Krishna Guha expects FY2025 DPS to come in at 6.1 cents, while raising FY2027 DPS forecast by about 1.7% to 6.2 cents, factoring in asset enhancements and portfolio rebalancing. Risks Guha has noted include slower recovery of demand from corporates, Chinese tourists and international students master lease renewals lower margins and higher interest rates. OCBC Investment Research has a fair value estimate of $1.01, a slight notch down from $1.02 previously. Analyst Ada Lim says: &ldquo We are somewhat disappointed that management has reiterated its guidance for FY2026 DPS to be stable instead of a return to growth, as non-recurring income is deployed to top up loss of income from AEIs meant to strengthen the overall portfolio.&rdquo &ldquo While investors typically buy into S-REITs for stability, zero growth for potentially two consecutive years causes us to turn incrementally less constructive on the counter,&rdquo she says, but keeps her &ldquo buy&rdquo call, as CLAS&rsquo s total returns potential still exceeds 10%. On the outlook, Lim notes that while discretionary travel spending is levered to the ebbs and flows of the economic cycle, she likes that CLAS&rsquo s portfolio is well-diversified across many geographies the REIT enjoys income from a mix of stable and growth sources and CLAS has exposure to the living sector &ndash including student accommodation in the US and rental housing in Japan &ndash for which demand is less likely to be affected by any weakening in the global macroeconomic outlook. &ldquo We also see CLAS&rsquo s ongoing portfolio rejuvenation as a positive for long-term growth and sustainability,&rdquo she adds. PhillipCapital&rsquo s Darren Chan keeps his &ldquo accumulate&rdquo rating and has increased his target price on CLAS to $1.08 from $1.05. CLAS is also the brokerage&rsquo s top pick in the hospitality sector, underpinned by its balanced mix of stable and growth income streams, alongside strong geographical diversification for earnings resilience. &ldquo We expect low single-digit portfolio RevPAU growth in FY2026, supported by improving occupancy. CLAS has guided to a stable DPS y-o-y for FY2026 at 6.1 cents, supported by past divestment gains used to offset the impact of major ongoing AEIs. There is over $300 million of such gains still available on the balance sheet,&rdquo says Chan, adding that the current share price of 98 cents implies an FY2026 dividend yield of 6.2%. As at 11.50am, shares in CLAS are trading at 98 cents. |
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Alignment
Elite |
01-Feb-2026 21:47
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The historic underperformance is what creates the opportunity today allowing an attractive entry point for new investors. | ||
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TA_Expert
Supreme |
31-Jan-2026 17:19
Yells: "The World has changed" |
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An underperforming stock. STI is already at historical high. Interest rate is falling, yet the stock is still trading under $!. |
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