CapitaLand Ascendas REIT (A17U) Q3 2026 TU earnings summary

Executive summary

• 3Q acquisitions totaled S$638.1m, while ongoing divestments totaling S$281.7m were priced at ~25% above valuation; portfolio occupancy reached 90.1% and rental reversion was 9.9%.

• Portfolio AUM was S$20.7b across 236 properties, with Singapore representing 66% and multi-tenant buildings 70% of AUM.

Financial highlights

• 9M 2026 acquisition value was S$1.78b; completed 3Q logistics acquisitions had initial NPI yields of 6.6% and 6.9%, before transaction costs.

• Divestments were priced at a ~25% premium to valuation and ~86% above purchase price; expected total net proceeds were S$255.0m.

Outlook and guidance

• FY 2026 rental reversion is expected to remain positive in the high-single-digit range.

• Seven ongoing projects have estimated total cost of S$847.7m; stabilised yields on development and redevelopment costs are expected at 6%–8%.

• Completed redevelopments are in stabilisation; higher NLA and average rents from upgraded assets are expected to support future income growth.