Units in CLAS closed 0.5 cents higher or 0.55% up at 91 cents on Aug 30.

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.

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.