Broker: CGS International Securities
Date of Report: February 2, 2026
Excerpt from CGS International Securities report.
Report Summary
- CapitaLand Ascott Trust (CLAS) reported FY25 distribution per share (DPS) of 6.10 Scts, aligned with guidance, and expects to maintain stable distributions, with a projected FY26F yield of 6.2% and target price of S\$1.13.
- Portfolio performance was driven by RevPAU and occupancy growth across key markets despite forex and tax headwinds; management retained S\$23.2m working capital to ensure stable distributions.
- The US student accommodation segment saw weaker profits due to supply and cost challenges, but Japan, Singapore, and Australia showed strong performance and positive outlook.
- CLAS maintains strong ESG credentials, aiming for all properties to be green certified by 2030, and is recognized as a leader in sustainability within its sector.
- CLAS’s financials remain robust, with disciplined capital management, stable cost of debt, and ongoing asset enhancement initiatives, though risks remain from forex swings and global travel trends.
Above is an excerpt from a report by CGS International Securities. Clients of CGS International Securities can be the first to access the full report from the CGS International Securities website: https://www.cgs-cimb.com
