SINGAPORE (Oct 29): OCBC is maintaining its “hold” recommendation on CapitaLand Commercial Trust at an unchanged fair value estimate of $1.39 after the real estate investment trust reports tepid results.

CapitaLand Commercial Trust's net property income rose 1.5% on-year in the third quarter to $52.7 million and distribution per unit was 2.14 cents, compared with 2.09 cents in the same period last year.

“We judge this set of results to be within expectations,” OCBC says, noting a weak outlook for ‘Grade A’ properties.

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