Bukit Panjang Plaza

A recovery in tenant sales is not enough for CapitaLand Mall Trust

SINGAPORE (Jan 24): The manager of CapitaLand Mall Trust (CMT) on Wednesday announced that its 4Q18 DPU has risen by 3.1% y-o-y to 2.99 cents, bringing FY18 DPU to 11.50 cents, 3.0% higher y-o-y.

This came on the back of 4.7% y-o-y increase in gross revenue to $180.5 million and a 4.3% y-o-y increase in net property income to $124.4 million.

See: CapitaLand Mall Trust posts 3.1% increase in 4Q DPU to 2.99 cents

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

Funan Mall

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.

CapitaLand Mall Trust posts 6.7% fall in 3Q DPU lower of 2.78 cents

SINGAPORE (Oct 21): CapitaLand Mall Trust (CMT) has declared a DPU of 2.78 cents for the 3Q16 ended Sept, a fall of 6.7% from 2.98 cents a year ago.

Net property income (NPI) increased 5.5% to $119.5 million from a year ago but distributable income fell 4.7% to $98.4 million as distributable income for 3Q15 included the release of $8 million taxable income retained in the period 1Q15.

Excluding this release, the distributable income for 3Q16 would have been 3.3% higher than 3Q15.

Retail malls tap on Pokemon Go to cash ‘em all

SINGAPORE (Aug 10): Pokemon Go fever has hit Singapore. And retail malls here are racing to cash ‘em all – before the fad disappears in a puff of smoke like a Pokemon running away.

CapitaLand’s ION Orchard drew first blood on Aug 6, within hours of the mobile game launch in Singapore on Saturday.

CapitaLand Mall Trust remains DBS’s mall owner of choice

SINGAPORE (July 27): DBS Vickers Securities is keeping its “hold” call on CapitaLand Mall Trust (CMT) with a higher target price of $2.23 from $2.20 previously.

CMT last Friday reported a 1.1% higher 2.74-cent distribution per unit (DPU) in 2Q from 2.71 cents last year, which is in line with the research house’s expectations.

CapitaLand Mall Trust's 2Q DPU up 1.1% to 2.74 cents

SINGAPORE (July 22): CapitaLand Mall Trust (CMT) on Friday reports distribution per unit (DPU) rose 1.1% to 2.74 cents compared to 2.71 cents in the same period last year.

2Q16 distributable income increased 3.3% to $97.1 million, on the back of higher gross revenue and net property income (NPI), which grew 7.1% and 6.0% respectively.

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