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CapitaLand Ascendas REIT (CLAR) is Singapore's first and largest listed business space and industrial real estate investment trust. It was listed on the Singapore Exchange Securities Trading Limited (SGX-ST) in November 2002. CLAR has since grown to be a global REIT anchored in Singapore, with a strong focus on technology and logistics properties in developed markets. As at 31 March 2026, its investment properties under management stood at S18.6 billion dollars with a total of 229 investment properties across three segments, namely Business Space & Life Sciences; Industrial & Data Centres; and Logistics. These properties are in the developed markets of Singapore, Australia, the US, and the UK/Europe. These properties house a tenant base of 1,737 international and local companies from a wide range of industries and activities, including data centres, information technology, engineering, logistics & supply chain management, biomedical sciences, financial services (backroom office support), electronics, government and other manufacturing and services industries. Major tenants include Sea Group, DSO National Laboratories, DHL, Singtel, Stripe, Entserve UK, Seagate Singapore, DBS Bank and Citibank. CLAR is listed on several indices. These include the FTSE Straits Times Index, the Morgan Stanley Capital International, Inc (MSCI) Index, the European Public Real Estate Association/National Association of Real Estate Investment Trusts (EPRA/NAREIT) Global Real Estate Index, the Global Property Research (GPR) Asia 250 Index and FTSE4Good Developed Index. CLAR has an issuer rating of "A3' by Moody's Investors Service. CLAR is managed by CapitaLand Ascendas REIT Management Limited, a wholly owned subsidiary of CapitaLand Investment Limited, a leading global real asset manager with a strong presence in Asia. CapitalLand Ascendas REIT was established on October 09, 2002 and was incorporated in 2002 in Singapore.
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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.
Ascendas Real Estate Investment Trust is a Singapore-based REIT that owns and operates industrial, logistics, business-park and mixed-use properties across Asia Pacific, earning rental income. Long-term growth drivers include secular demand for logistics and data-centre capacity, geographic diversification and lease structures that could support income stability. The REIT may appeal to investors seeking income from a cash-flow oriented property portfolio.
Primary risks include interest-rate sensitivity and property-market cyclicality, tenant concentration and vacancy exposure, cross-border regulatory and currency risks, and leverage that could constrain flexibility.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Income before tax | 835.49M | 746.25M | 161.95M | 844.78M | 1043.51M |
| Net income | 779.72M | 764.11M | 168.27M | 760.39M | 957.04M |
| Selling general administrative | 104.01M | 98.58M | 102.77M | 100.79M | 100.87M |
| Gross profit | 1067.56M | 1049.92M | 1023.15M | 968.75M | 920.75M |
| Ebit | - | - | - | 868.31M | 823.18M |
| Ebitda | - | - | - | 1029.50M | 1203.76M |
| Operating income | 963.55M | 951.34M | 920.38M | 867.96M | 819.88M |
| Interest expense | 268.86M | 267.45M | 253.99M | 184.72M | 160.25M |
| Tax provision | 55.77M | -17.86M | -6.32M | 84.39M | 86.47M |
| Interest income | 2.61M | 2.92M | 2.62M | 2.25M | 6.93M |
| Net interest income | -272.83M | -271.26M | -256.67M | -187.76M | -158.88M |
| Income tax expense | - | - | - | 84.39M | 86.47M |
| Total revenue | 1538.57M | 1523.05M | 1479.78M | 1352.69M | 1226.53M |
| Total operating expenses | 575.03M | 571.70M | 559.40M | 484.73M | 406.64M |
| Cost of revenue | 471.01M | 473.12M | 456.63M | 383.93M | 305.77M |
| Net income from continuing ops | 779.72M | 764.11M | 168.27M | 760.39M | 957.04M |
| Net income applicable to common shares | - | - | - | 751.39M | 948.04M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Total assets | 19851.18M | 18269.01M | 18269.78M | 17875.99M | 17730.49M |
| Other current assets | - | - | - | 49.33M | 24.76M |
| Total liab | 8996.87M | 7960.49M | 8049.51M | 7609.37M | 7453.32M |
| Total stockholder equity | 10854.31M | 10308.51M | 10220.27M | 10266.62M | 10277.17M |
| Other current liab | 79.17M | 76.66M | 73.82M | 84.67M | 210.84M |
| Common stock | - | - | - | 9967.68M | 9978.23M |
| Capital stock | 10550.11M | 10008.91M | 9921.33M | 9967.68M | 9978.23M |
| Other liab | - | - | - | 390.86M | 280.39M |
| Other assets | - | - | - | 217.70M | 95.26M |
| Cash | 209.44M | 167.74M | 221.58M | 217.02M | 368.55M |
| Total current liabilities | 2394.42M | 1520.50M | 1603.21M | 1301.85M | 1771.33M |
| Net debt | 7110.78M | 6357.07M | 6299.30M | 5924.98M | 5715.80M |
| Short long term debt | 1712.99M | 980.46M | 1053.55M | 833.03M | 1250.82M |
| Other stockholder equity | - | - | - | 298.94M | 298.94M |
| Property plant equipment | - | - | - | 17224.90M | 17144.42M |
| Total current assets | 386.09M | 350.21M | 377.19M | 362.55M | 455.62M |
| Net tangible assets | - | - | - | 10266.62M | 10277.17M |
| Net receivables | 168.09M | 30.30M | 36.39M | 96.20M | 62.83M |
| Long term debt | 5607.23M | 5544.35M | 5467.34M | 5308.96M | 4833.53M |
| Inventory | - | 0.00M | 62.43M | - | - |
| Accounts payable | 524.63M | 412.10M | 423.54M | 344.46M | 26.91M |
| Non current assets total | 19465.08M | 17918.80M | 17892.59M | 17513.44M | 17274.87M |
| Capital lease obligations | 661.57M | 629.91M | 646.32M | 647.31M | 604.65M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Investments | - | -62.46M | -925.71M | -35.62M | -39.31M |
| Change to liabilities | - | - | - | 188.42M | -55.92M |
| Total cashflows from investing activities | - | - | - | -374.26M | -1914.69M |
| Net borrowings | 838.42M | 0.67M | 401.60M | 40.70M | 1382.85M |
| Total cash from financing activities | - | - | - | -782.36M | 1277.39M |
| Net income | 779.72M | 764.11M | 178.48M | 760.39M | 957.04M |
| Change in cash | 40.98M | -58.84M | 2.39M | -151.53M | 90.57M |
| Begin period cash flow | 167.74M | 221.58M | 217.02M | 368.55M | 277.98M |
| End period cash flow | 209.44M | 167.74M | 221.58M | 217.02M | 368.55M |
| Total cash from operating activities | 1117.69M | 947.83M | 956.28M | 1017.92M | 726.76M |
| Issuance of capital stock | 500.00M | 0.00M | 500.00M | 0.00M | 420.00M |
| Other cashflows from investing activities | - | - | - | 2.56M | 8.99M |
| Dividends paid | -669.09M | -657.76M | 660.62M | -658.70M | -387.46M |
| Change to account receivables | - | - | - | -16.55M | -26.82M |
| Other cashflows from financing activities | - | - | - | -164.37M | -138.01M |
| Change to netincome | - | - | - | 81.22M | -152.19M |
| Capital expenditures | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Change in working capital | 110.23M | -32.94M | 42.45M | 171.87M | -82.74M |
| Other non cash items | 307.37M | 297.46M | 282.02M | 212.20M | 167.72M |
| Free cash flow | 1117.69M | 947.83M | 956.28M | 1017.92M | 726.76M |
Sector: Real Estate Industry: REIT - Industrial
|
Stock Name
|
Change
(USD) |
Price
(USD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
Enterprise Value
to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| ACDSF Ascendas Real Estate Investment Trust |
- -% |
1.71 | 14.00 | 14.41 | 5.64 | 0.99 | 12.43 | 18.06 |
| PLD Prologis Inc |
-0.04 0.03% |
127.98 | 30.25 | 29.41 | 13.67 | 2.39 | 17.76 | 19.15 |
| PSA Public Storage |
7.71 2.43% |
324.77 | 28.17 | 32.68 | 11.29 | 11.40 | 14.20 | 19.63 |
| PLDGP Prologis Inc |
-0.02 0.04% |
50.46 | 10.25 | - | 4.32 | - | - | - |
| EXR Extra Space Storage Inc |
1.42 0.95% |
151.32 | 30.31 | 30.40 | 8.63 | 2.22 | 12.53 | 17.85 |
CapitaLand Ascendas REIT (CLAR) is Singapore's first and largest listed business space and industrial real estate investment trust. It was listed on the Singapore Exchange Securities Trading Limited (SGX-ST) in November 2002. CLAR has since grown to be a global REIT anchored in Singapore, with a strong focus on technology and logistics properties in developed markets. As at 31 March 2026, its investment properties under management stood at S18.6 billion dollars with a total of 229 investment properties across three segments, namely Business Space & Life Sciences; Industrial & Data Centres; and Logistics. These properties are in the developed markets of Singapore, Australia, the US, and the UK/Europe. These properties house a tenant base of 1,737 international and local companies from a wide range of industries and activities, including data centres, information technology, engineering, logistics & supply chain management, biomedical sciences, financial services (backroom office support), electronics, government and other manufacturing and services industries. Major tenants include Sea Group, DSO National Laboratories, DHL, Singtel, Stripe, Entserve UK, Seagate Singapore, DBS Bank and Citibank. CLAR is listed on several indices. These include the FTSE Straits Times Index, the Morgan Stanley Capital International, Inc (MSCI) Index, the European Public Real Estate Association/National Association of Real Estate Investment Trusts (EPRA/NAREIT) Global Real Estate Index, the Global Property Research (GPR) Asia 250 Index and FTSE4Good Developed Index. CLAR has an issuer rating of "A3' by Moody's Investors Service. CLAR is managed by CapitaLand Ascendas REIT Management Limited, a wholly owned subsidiary of CapitaLand Investment Limited, a leading global real asset manager with a strong presence in Asia. CapitalLand Ascendas REIT was established on October 09, 2002 and was incorporated in 2002 in Singapore.
168 Robinson Road, Singapore, Singapore, 068912
65 6774 2888
| Name | Title | Year Born |
|---|---|---|
| Mr. Wee Leong Tay | CEO & Exec. Non-Independent Director of Ascendas Funds Management (S) Limited (AFM) | 1971 |
| Ms. Lee Sze Koo | Chief Financial Officer of Ascendas Funds Management (S) Limited | 1970 |
| Mr. Ram Soundararajan | Head of Investment for Ascendas Funds Management (S) Limited | 1977 |
| Ms. Kit Peng Yeow | Head of Capital Markets & Investor Relations of Ascendas Funds Management (S) Limited | 1965 |
| Ms. Wylyn Liu | Mang. of Corp. & Marketing Communications | NA |
| Mr. Chat Shen Goh C.F.A., CFA | Head of Portfolio Management | NA |
| Ms. Michelle Lee | Managing Director of Europe, Investment & Portfolio Management | NA |
| Mr. Wei Seng Hon LLB | Company Sec. of Ascendas Funds Management (S) Limited | NA |
| Ms. Chai Ping Koh | Company Sec. of Ascendas Funds Management (s) Limited | NA |
| Mr. Paul Toussaint | Managing Director of Capitaland Australia | 1964 |
Disclaimer - (*)This information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on an ‘as is’ basis, using their API. We cannot guarantee the completeness or validity of the information and data provided on this page, as well as via the API. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general information purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine is not liable for any errors or omissions in the information provided or for any actions taken in reliance on it. You should seek advice from a financial adviser, stockbroker or other professional adviser (including taxation and legal advice) as necessary before acting on this information.
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