11 Key Numbers Investors Should Know About Ascendas Real Estate Investment Trust

Credit: Axisadman

The annual report is a great place for learning about a stock.

Ascendas Real Estate Investment Trust  (SGX: A17U) is one of the three real estate investment trusts (REITs) which currently make up Singapore’s stock market benchmark, the Straits Times Index (SGX: ^STI). The latest annual report available for Ascendas REIT is for its financial year ended 31 March 2015 (FY2015).

The annual report had a chockful of interesting numbers. Here are 11 figures that investors might want to take note of:

  1. Ascendas REIT had a portfolio of 105 properties in Singapore and two business park properties in China, as of the end of March 2015. The REIT had a tenant base of 1,410 international and local companies. As of 31 March 2015, Ascendas REIT had total assets worth S$8.2 billion.
  2. Ascendas Group, the REIT’s sponsor, owns over 17% of the REIT. Ascendas REIT can count on its sponsor’s portfolio of over S$1 billion worth of properties in the Business and Science Park segment for potential future acquisitions.
  3. Diversity comes in many forms for Ascendas REIT. Only one customer, Singapore Telecommunications Limited (SGX: Z74), accounted for more than 2.5% of the REIT’s total gross rental income in FY2015 – that’s tenant diversity.
  4. Ascendas REIT is also diversified by property type. The most common types of real estate in the REIT’s portfolio are high-specifications industrial properties, science park properties, logistics and distribution centres, and business park properties. Together the four property types account for 69% of the REIT’s total asset value at end-March 2015.
  5. But, there’s also some form of concentration. Going by nett lettable area, Ascendas REIT had 47% of its tenants coming from the transport and storage sector with another 15% coming from the information technology sector. This represents a fairly high sector concentration.
  6. The industrial REIT is also the first Singapore REIT to undertake development projects. As at 31 March 2015, Ascendas REIT has completed 12 development projects.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore contributor Chin Hui Leong doesn’t own shares in any companies mentioned.