DBS Bank has sold 1.492 million units in CapitaLand Ascott Trust HMN (CLAS) to the open market.
The sale, which was conducted on Aug 26, netted the bank $1.35 million or 90.5 cents per unit.
Following the sale, DBS now has a 0.77% stake in the trust.
On Aug 2, DBS disposed of another 378,700 units in CLAS for $337,043 or 89 cents per unit. The sale reduced DBS’s stake in CLAS to 0.896% at the time.
CLAS reported a distribution per stapled security (DPS) of 2.55 cents for the 1HFY2024 ended June 30, 8% lower y-o-y.
Revenue for the same period rose by 11% y-o-y to $386.4 million due to sustained demand for lodging and a stronger operating performance.
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Revenue per available unit (RevPAU) grew by 5% y-o-y to $145 thanks to higher room rates, especially in Japan and the US.
Units in CLAS closed 0.5 cents higher or 0.55% up at 91 cents on Aug 30.
