CapitaLand Ascott Trust’s DPS up by 47% in H2 22 due to ‘strong portfolio’

Its gross profit also went up 80% during that year.

Following its strong portfolio, CapitaLand Ascott Trust’s (CLAS) distribution per stapled security grew to 3.33 cents by 47% year-on-year in the second half of 2022 (H2 2022).

According to the REIT, CLAS said its gross profit increased 80% in H2 2022 on the back of higher revenue from its portfolio and contributions.

Its expanded portfolio include longer-stay properties, which include student accommodation and rental housing properties in the US and Japan, newly secured serviced residences in Australia, France, and Vietnam, and lyf one-north Singapore that soft-opened in the fourth quarter of 2021.

It also achieved gross fair valuation gain of $200m with better operating performance and outlook for properties.