Capitaland Mall Trust (CMT)

CapitaLand Mall Trust declares 3.6% higher DPU of 2.88 cents on higher income

SINGAPORE (Apr 24): The manager of CapitaLand Mall Trust (CMT), reported CMT has achieved a net property income (NPI) of $140.1 million for the 1Q19 ended March, an increase of 11.5% from 1Q18.

Distributable income for 1Q19 was $106.3 million, 7.4% higher than 1Q18. DPU was 2.88 cents, up 3.6% year-on-year.

CapitaLand Mall Trust Management Limited (CMTML) says the increase in gross revenue was mainly due to the completion of the acquisition of the remaining 70% stake in Westgate on Nov 1, which contributed $19.1 million to gross revenue.

5 recommendations by Maybank as the S-REIT space eases into recovery mode

SINGAPORE (Feb 28): Maybank Kim Eng is remaining “positive” on the Singapore REIT space as it believes sector valuations will remain supported by recovering distributions per unit (DPUs), especially for hospitality; increased traction of capital recycling initiatives and acquisition momentum; and a backdrop of a slower rate hike cycle.

S-REITs poised to ride on wings of dovish Fed

SINGAPORE (Feb 11): DBS Group Research is keeping its “overweight” rating on Singapore REITs following more dovish comments from the US Federal Reserve.

In a statement on Jan 30, the US central bank said it “will be patient as it determines what future adjustments to the target range for the federal funds rate may be appropriate”.

Notably, the Fed also discarded its promise of “further gradual increases” in interest rates.

Market observers say this could point to an end to its tightening cycle amid signs of slowing global growth.

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

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

SINGAPORE (Jan 23): The manager of CapitaLand Mall Trust (CMT) announced that its 4Q18 DPU has increased by 3.1% to 2.99 cents, compared to 2.90 cents in 4Q17.

This brings the DPU for FY18 to 11.50 cents, 3.0% higher than 11.16 cents in FY17.

Distributable income to unitholders was 5.1% higher in 4Q18 at $108.1 million from $102.9 million last year.

REITs remain a safe defensive bet for 2019: DBS

SINGAPORE (Dec 19): DBS Research is expecting Singapore REITs (S-REITs) to deliver DPU growth in 2019.

DBS, which has an “overweight” rating on the S-REITs sector, expects investors to gravitate towards the retail and industrial sectors in 2019, due to the heightened risk surrounding demand for office space and hotel rooms arising from the ongoing trade war and risk of near-recession conditions in the US in 4Q20.

Already a safe harbour, CapitaLand Mall Trust is starting to emerge as a growth play: DBS

SINGAPORE (Dec 7): DBS Vickers Securities reiterates its “buy” call on CapitaLand Mall Trust (CMT) with an adjusted target price of $2.44, which now reflects a higher proportion of equity used to finance its acquisition of Westgate mall.

In a Thursday report, analyst Carmen Tay say she expects a re-rating of CMT’s unit price as its earnings growth returns to an upward trajectory of about 3-4% per annum, versus S-REITs’ average of about 1-2%.

Capitaland Mall Trust kept at ‘hold’ by Maybank and OCBC

SINGAPORE (Oct 29): Maybank KimEng and OCBC Investment Research are maintaining their “hold” calls on Capitaland Mall Trust (CMT) after the latter's 3Q18 results came in line with expectations.

Gross revenue and NPI rose 0.7% and 1.1% y-o-y to $170.5 million and $122.7 million, respectively. This was led by higher gross revenue from a number of its malls including Junction 8, Bedok Mall and Tampines Mall.

CapitaLand Mall Trust posts 3Q DPU increase 5% to 2.92 cents

SINGAPORE (Oct 25): The manager of CapitaLand Mall Trust (CMT) has announced a 3Q18 DPU of 2.92 cents, 5% higher compared to the DPU of 2.78 cents declared for 3Q17.

This came on the back of a 4.9% rise in 3Q18 distributable income to unitholders to $103.5 million from $98.7 million last year.

For the 9M18, DPU came in at 8.51 cents, 3.0% higher than 8.26 cents in 9M17.

Liquidation of Newstead to have minimal impact on REITs

SINGAPORE (Oct 10): CGS-CIMB Securities continues to rate Singapore REITs as “overweight” following media reports that home-grown electronics retailer Newstead Technologies is currently in liquidation.

The retailer that also operated DigitalStyle, Nubox and @ has stores located in Nex, Sim Lim Square, Suntec City, Marina Square, Bedok Mall, City Square Mall, Raffles City, Causeway Point, Jem, Tampines Mall, Waterway Point and Jurong Point.

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