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Can this lagging retail REIT catch up with the broad market rally?

Michelle Zhu
Michelle Zhu7/24/2017 4:25 PM GMT+08  • 2 min read
Can this lagging retail REIT catch up with the broad market rally?
SINGAPORE (July 24): DBS Vickers is maintaining its “buy” call on CapitaLand Mall Trust (CMT) with an unchanged target price of $2.17 after its manager last Friday reported a 1H17 distribution per unit (DPU) of 5.48 cents, up 0.2% from 5.47 cents in t
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SINGAPORE (July 24): DBS Vickers is maintaining its “buy” call on CapitaLand Mall Trust (CMT) with an unchanged target price of $2.17 after its manager last Friday reported a 1H17 distribution per unit (DPU) of 5.48 cents, up 0.2% from 5.47 cents in the same period a year ago.

This comes on the back of CMT’s unit price lagging behind both the Singapore REIT (S-REIT) index and Singapore 10-year government bonds this year.

In a Monday report, analyst Derek Tan says the DPU was in line with the research house’s estimates, while noting a “handsome” revaluation gain of $218.7 million from the trust’s properties compared to six months ago as well as higher portfolio occupancy at the expense of rental reversion.

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