SINGAPORE (July 26): DBS Group Research has maintained its “hold” recommendation for Cambridge Industrial Trust, with a raised target price from 56 cents to 60 cents, after CIT reported its earnings for 2Q16 on Friday.

In the quarter to June, CIT announced a distribution per unit of 1.078 cents, a 12% decrease from the 1.225 cents declared in 2QFY2015, which DBS’s analyst Derek Tan says was in line with his forecasts.

However, he writes in a note on Tuesday that the current low valuation of the stock has driven dividend yields to 8% and “reflect uncertainty and pressure on [CIT’s] top line given the competitive industrial leasing environment”.

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