CapitaLand Ascendas REIT

SGX:A17U Stock Report

Market Cap: S$12.3b

CapitaLand Ascendas REIT Future Growth

Future criteria checks 1/6

CapitaLand Ascendas REIT is forecast to grow earnings and revenue by 4.5% and 4.3% per annum respectively. EPS is expected to grow by 3.4% per annum. Return on equity is forecast to be 7.3% in 3 years.

Key information

4.5%

Earnings growth rate

3.37%

EPS growth rate

Industrial REITs earnings growth7.9%
Revenue growth rate4.3%
Future return on equity7.28%
Analyst coverage

Good

Last updated07 Aug 2026

Recent future growth updates

No updates

Recent updates

Narrative Update • Jun 06

A17U: Recent Acquisitions And Equity Raising Will Support Future Distribution Upside

Narrative Update on CapitaLand Ascendas REIT Analysts have revised their fair value estimate for CapitaLand Ascendas REIT slightly lower to around SGD3.09 from about SGD3.11, citing a reduced price target from SGD3.11 to SGD2.82 and concerns that occupancy could soften if recent tech sector layoffs continue to impact tenant demand. What's in the News CapitaLand Ascendas REIT agreed to acquire 5 Tuas Avenue 5 in Singapore for SGD 133.9 million in cash.
Narrative Update • May 21

A17U: Recent Equity Offerings Will Support Future Distribution Upside Potential

Analysts have slightly trimmed their SGD price target for CapitaLand Ascendas REIT from SGD 3.15 to about SGD 3.11, reflecting marginal adjustments to the discount rate, revenue growth assumptions, profit margin and future P/E expectations in their valuation models. What's in the News Completed a follow on equity offering of about S$303.5m, issuing 129,134,664 units at S$2.35 per unit, structured as a rights offering under Regulation S (Key Developments).
Narrative Update • Apr 27

A17U: Recent Equity Offerings And Distribution Outlook Will Support Future Upside Potential

Analysts now set a revised price target for CapitaLand Ascendas REIT at about SGD3.15, compared with the prior SGD3.24, reflecting updated views on its discount rate, revenue growth, profit margin and forward P/E assumptions. What's in the News Completed a follow on equity offering of about SGD303.47m, issuing 129,134,664 new units at SGD2.35 per unit under a rights offering structure (Key Developments).
Narrative Update • Feb 10

A17U: Expanded Singapore Industrial Portfolio Will Support Future Upside Potential

Analysts have trimmed their price target for CapitaLand Ascendas REIT slightly, maintaining it at S$3.24, reflecting updated views on discount rates, revenue growth and profit margins while keeping the overall valuation framework largely intact. What's in the News Completion of acquisition of a portfolio of three Singapore properties on 30 December 2025, including a ramp up logistics asset at 2 Pioneer Sector 1, a light industrial property at Tuas Connection, and a high specifications industrial property at 9 Kallang Sector (Key Developments).
Narrative Update • Jan 27

A17U: Expanded Industrial Portfolio Will Support Future Upside Potential

Analysts have kept their fair value estimate for CapitaLand Ascendas REIT steady at $3.24, with only marginal tweaks to inputs like the discount rate and forward P/E. This reflects unchanged overall conviction in their price target framework.
Narrative Update • Jan 11

A17U: Portfolio Expansion And Stable Assumptions Will Support Future Upside

Analysts have reiterated their price target for CapitaLand Ascendas REIT at S$3.24, keeping fair value assumptions unchanged and making only marginal adjustments to inputs such as the discount rate, revenue growth, profit margin and future P/E. This reflects a steady view on the trust's valuation profile.
Narrative Update • Dec 25

A17U: Lower Discount Rate Is Expected To Support Future Upside

Analysts have modestly raised their price target for CapitaLand Ascendas REIT from S$3.24 to S$3.24, reflecting slightly lower discount rate assumptions and marginally improved long term profitability expectations, despite largely unchanged growth and valuation multiples. Valuation Changes Consensus Analyst Price Target: unchanged at SGD 3.24, indicating no material reassessment of intrinsic value.
Narrative Update • Dec 11

A17U: UK Logistics Developments Are Expected To Drive Future Upside

Analysts have made a marginal upward revision to their price target for CapitaLand Ascendas REIT, increasing it by approximately S$0.00. This adjustment reflects slightly stronger expected revenue growth and a modestly higher future P/E multiple, despite a small uptick in the applied discount rate and a largely unchanged profit margin outlook.
Narrative Update • Nov 27

A17U: UK Logistics Developments Are Expected To Drive Future Upside

Analysts have slightly increased their price target for CapitaLand Ascendas REIT to $3.24. This represents a modest uptick and reflects updated forecasts for stable growth and resilient profit margins.
Narrative Update • Nov 12

A17U: UK Logistics Developments Are Expected To Drive Future Upside

Analysts have raised their price target for CapitaLand Ascendas REIT from $3.20 to $3.24. They cite improved revenue growth forecasts and a steady profit margin outlook as the primary drivers for this upward revision.
Narrative Update • Sep 04

Acquisitions And Redevelopments Will Expand Rental Premiums Globally

With the consensus analyst price target, discount rate, and future P/E all remaining effectively unchanged, analysts see no significant change in CapitaLand Ascendas REIT's fair value, which remains at SGD3.20. What's in the News Completed acquisition of two freehold land plots in the East Midlands, UK, for development of four new logistics properties.
User avatar
New Narrative • Feb 09

Acquisitions Of Summerville And DHL Centers Will Diversify Portfolio Amid Vacancy Risks

Strategic acquisitions and redevelopments aim to boost revenue and enhance property values through logistics centers and asset enhancement initiatives.

Earnings and Revenue Growth Forecasts

SGX:A17U - Analysts future estimates and past financials data (SGD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/20281,7948109461,12313
12/31/20271,7367749061,09114
12/31/20261,65173771,05214
6/30/20261,6137521,0711,071N/A
3/31/20261,5837611,0941,094N/A
12/31/20251,5547701,1181,118N/A
9/30/20251,5307371,0531,053N/A
6/30/20251,506704988988N/A
3/31/20251,515730968968N/A
12/31/20241,524755948948N/A
9/30/20241,528448828828N/A
6/30/20241,532141707707N/A
3/31/20241,506150832832N/A
12/31/20231,480159956956N/A
9/30/20231,4424401,0171,017N/A
6/30/20231,4057201,0781,078N/A
3/31/20231,3797361,0481,048N/A
12/31/20221,3537511,0181,018N/A
9/30/20221,3308751,0151,015N/A
6/30/20221,3079991,0131,013N/A
3/31/20221,269974870870N/A
12/31/20211,230948727727N/A
9/30/20211,177733760760N/A
6/30/20211,124518793793N/A
3/31/20211,092480761761N/A
12/31/20201,059442729729N/A
6/30/2020996512729729N/A
3/31/2020961513N/A752N/A
12/31/2019927514N/A775N/A
9/30/2019911519N/A648N/A
6/30/2019900514N/A633N/A
3/31/2019887489N/A612N/A
12/31/2018877483N/A557N/A
9/30/2018868464N/A566N/A
6/30/2018866474N/A590N/A
3/31/2018863480N/A539N/A
12/31/2017856419N/A581N/A
9/30/2017847458N/A555N/A
6/30/2017837445N/A543N/A
3/31/2017831413N/A529N/A
12/31/2016826371N/A504N/A
9/30/2016811317N/A498N/A
6/30/2016788329N/A461N/A
3/31/2016761338N/A482N/A
12/31/2015731412N/A388N/A
9/30/2015709414N/A386N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: A17U's forecast earnings growth (4.5% per year) is above the savings rate (2.6%).

Earnings vs Market: A17U's earnings (4.5% per year) are forecast to grow slower than the SG market (7.8% per year).

High Growth Earnings: A17U's earnings are forecast to grow, but not significantly.

Revenue vs Market: A17U's revenue (4.3% per year) is forecast to grow slower than the SG market (5.7% per year).

High Growth Revenue: A17U's revenue (4.3% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: A17U's Return on Equity is forecast to be low in 3 years time (7.3%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/08/21 22:43
End of Day Share Price 2026/08/21 00:00
Earnings2026/06/30
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

CapitaLand Ascendas REIT is covered by 28 analysts. 14 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Kwok Yi LouieBarclays
Tricia SongBarclays
Donald ChuaBofA Global Research