CapitaLand Commercial Trust (CCT)

Singapore developers cede to REITs as investors' top pick
(Sept 25): Buy the businesses that hold the real-estate assets rather than the ones that sell them. That’s the message from a growing number of analysts in Singapore who say REITs, or real estate investment trusts, are a better bet than developers in light of the island’s recent cooling measures. For much of 2017 and the first half of this year, Singapore developer stocks had a great ...
HSBC lease extension at 21 Collyer Quay keeps CCT at 'buy'
SINGAPORE (Sept 13): CapitaLand Commercial Trust has signed a one-year lease extension for the whole office building at 21 Collyer Quay with The Hongkong and Shanghai Banking Corporation (HSBC). The total rent payable by HSBC for the extended term starting April 30, 2019, will be $27.7 million, or equivalent to $11.54 psf/month. This is 36% higher than the original rent of $20.4 million per ...
CapitaLand Commercial Trust posts 4% drop in 2Q DPU to 2.16 cents on enlarged base
SINGAPORE (July 19): The manager of CapitaLand Commercial Trust (CCT) has reported distribution per unit (DPU) of 2.16 cents for the 2Q ended June, some 4.0% lower than DPU of 2.25 cents a year ago. This was mainly due to an enlarged base from the issue of 130.0 million new units for the equity placement to partially finance the acquisition of Gallileo during the quarter, as well as the rights ...
Office REITs trading 'unjustly' below book value, says DBS who has CCT as top pick
SINGAPORE (July 11): Manulife Centre on Bras Basah Road is targeted by British property group Chelsfield for $550 million, according to media reports. This translates to a psf price of $2,300 on net lettable area (NLA) of 242,000 sf. In a Tuesday note, DBS Group Research says the potential sale of Manulife Centre at a mid-2% yield based on NPI (net property income) is a continuation of the ...
CapitaLand Commercial Trust divests Twenty Anson for $516 mil
SINGAPORE (June 29): The manager of CapitaLand Commercial Trust (CCT) announced it will be divesting Twenty Anson for a consideration of $516.0 million or $2,503 psf. The 20-storey office building located in Tanjong Pagar will be sold to an unrelated third party and the transaction is expected to be completed in 3Q18. As at Mar 31, Twenty Anson has a committed occupancy of 94.3%, with ...
High pre-leasing level at Paya Lebar Quarter is good news for Singapore office market: DBS
SINGAPORE (June 12): DBS Group Research remains confident that the Singapore office market remains on a multi-year upturn given modest new supply over the next 3-4 years. This follows media reports that close to 80% of Paya Lebar Quarter (PLQ) and over 70% of Frasers Tower have been pre-committed, says DBS in a Tuesday report. According to the reports, Great Eastern will be leasing around ...
On the cusp of recovery, office and hospitality S-REITs worth a closer look
SINGAPORE (May 31): DBS Group Research says this could be a good time to scoop up S-REITs of selected office and hotel names given supply pressures in these sub-sectors have eased. In a Thursday report, lead analyst Mervin Song says the oversupplied market over the past few years which resulted in muted S-REIT performance and decline in DPUs for several REITs has given way to a turnaround in ...
Analysts upgrade calls on CapitaLand Commercial Trust amid maiden overseas acquisition
SINGAPORE (May 18): CGS-CIMB Securities and RHB Research have upgraded their respective recommendations on CapitaLand Commercial Trust (CCT), after the REIT on Thursday marked its maiden overseas entry with the acquisition of a 94.9% stake in Frankfurt office property Gallileo. The freehold Grade A property, valued at €356 million ($569.6 million), is located in the prime Central Business ...
CapitaLand Commercial Trust acquires 94.9% stake in $569.6 mil Frankfurt office property Gallileo
SINGAPORE (May 17): CapitaLand Commercial Trust is making its first foray into Europe with the acquisition of a stake in Gallileo, an office property located in Frankfurt, Germany. The freehold Grade A property, valued €356 million ($569.6 million), is located in the prime Central Business District (CBD), also known as the Banking District. The property is near to the German Central Bank, ...
Analysts have mixed views on CapitaLand Commercial Trust
SINGAPORE (Apr 25): CapitaLand Commercial Trust (CCT) yesterday announced an 11.7% decline in its 1Q18 DPU to 2.12 cents from 2.40 cents in 1Q17, due to enlarged total units base. Distributable income increased by 7.5% to $76.6 million from $71.3 million last year. After adjusting for the enlarged total units base, the DPU would have been 7.6% higher y-o-y. Gross revenue for the ...