CapitaLand Ascott Trust
SSGX:HMN0.82
SGD
+0.02
(+2.50%)
CapitaLand Ascott Trust
SGX:HMN
(Singapore Exchange)
Recent
price
0.82
P/E
ratio
- -
div
yld
4.27%
ROIC.AI
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- Business
- CapitaLand Ascott Trust (CLAS), a stapled group comprising CapitaLand Ascott Real Estate Investment Trust and CapitaLand Ascott Business Trust, operates as the largest lodging trust in Asia Pacific, investing primarily in income-producing real estate and related assets used as serviced residences; hotels; rental housing properties; student accommodation; and other hospitality assets worldwide. CLAS holds a diversified global portfolio of 104 properties with at least 19,000 units across 45 cities in 16 countries, anchored in Asia Pacific (56% of assets), Europe (26%) and the United States (18%), with serviced residences comprising 38% of portfolio value, hotels 6%, rental housing 11% and student accommodation 45%; properties operate predominantly under brands such as Ascott, Somerset, Citadines, Quest, lyf and The Crest Collection, located in key gateway cities including Singapore, Tokyo, Paris, London, Sydney, New York and Hanoi. The trust generates 60-70% of income from stable sources like master leases and management contracts with minimum guarantees, alongside growth income from variable-fee serviced residences and hotels; it targets institutional investors, leisure and business travelers, students and long-stay residents. Listed on the Singapore Exchange since March 2006 with ticker HMN.SI and headquartered at 168 Robinson Road, #30-01 Capital Tower, Singapore, CLAS maintains an asset value of S$8.8 billion as at 30 September 2025, a gearing ratio of 38.3%, average debt cost of 3.0% per annum (77% fixed-rate) and BBB investment-grade rating from Fitch Ratings. In recent developments, CLAS completed over S$500 million in divestments in FY 2024 at premiums up to 55% above book value, including properties in Australia, Japan, Singapore and China (with Somerset Olympic Tower Tianjin pending completion in 2Q 2025), recycling proceeds into S$350 million of accretive acquisitions such as Teriha Ocean Stage rental housing in Fukuoka Japan, the remaining stake in Standard at Columbia student accommodation in South Carolina USA, lyf Funan Singapore hotel and two freehold limited-service hotels in Tokyo and Kanazawa Japan in January 2025 yielding 4.3% NOI; the trust also finalised six asset enhancement initiatives in 2024 on properties including Citadines Les Halles Paris and Temple Bar Hotel Dublin, with two more planned for 2025-2026 at The Cavendish London and Sydney Central Hotel, alongside ongoing development of Somerset Liang Court serviced residence in Singapore for completion in 2026.