CapitaLand Ascendas REIT has moved to assure investors of the resilience of its portfolio amid falling occupancy figures for its US assets.

The REIT reported on 31 July that its distributable income for 1H 2023 slipped by 1% year-on-year to SGD327.5 million.

As a result, the REIT’s distribution per unit (DPU) for the period fell by 2% to 7.719 cents.

In particular, the average portfolio occupancy for its US assets declined again to 92.1% as at 30 June 2023.

Related: CapitaLand Ascendas REIT sees SGD18.2 million outflow of institutional funds

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.