OCBC Investment Research downgrades CapitaCommercial Trust (C61U.SG) to Hold from Buy on limited upside to its $1.26 target price after recent run-up on hopes office landlord will sell its Starhub Centre in Singapore, says Dow Jones. CCT still evaluating options for property.

Research house says while CCT may reap one-off gain from divestment, DPU will be affected by loss of income from asset, which accounted for about 5% of total FY09 net property income.

“With CCT realigning its focus on Grade A office building investments, there is no assurance of a quick reinvestment of the divestment proceeds in income-generating assets at attractive prices to replace the lost income,” says OCBC.

REIT flat at $1.23.