CapitaLand Ascott Trust (CLAS) has announced a stable Distribution per Stapled Security (DPS) of 2.53 Singapore cents for the first half of 2026, maintaining its year-on-year performance. The trust reported an 11% increase in income available for distribution, reaching S$107.1 million, driven by higher non-periodic items. Total distribution amounted to S$97.5 million, with S$9.6 million retained for non-periodic items.
The trust's core distribution income faced challenges due to transitional factors such as timing differences in acquisitions and divestments, asset enhancement initiatives (AEIs), and foreign exchange impacts. Despite these, CLAS managed to sustain its operating performance, with revenue per available unit (REVPAU) increasing by 1% year-on-year.
Serena Teo, CEO of CapitaLand Ascott Trust Management Limited, highlighted the trust's strategic moves in the first half of 2026, including the acquisition of three rental housing properties in Japan and the divestment of The Robertson House in Singapore. These actions are part of CLAS's strategy to recycle capital into higher-quality assets and enhance income resilience.
Looking ahead, CLAS plans to open Somerset Clarke Quay Singapore in early 2027, which, along with contributions from renovated properties, is expected to bolster future income growth. The trust remains committed to delivering stable distributions, supported by sustained operating performance and strategic asset management.
As of 30 June 2026, CLAS's gearing stood at 37.7%, with a low average cost of debt at 2.8% per annum. The trust's diversified portfolio and hedging strategies help mitigate foreign exchange risks, positioning it well for future growth opportunities
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