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CapitaLand Mall Trust posts 4.8% rise in 3Q DPU to 3.06 cents

SINGAPORE (Oct 21): The manager of CapitaLand Mall Trust (CMT) has announced distribution per unit (DPU) of 3.06 cents for the 3Q19 ended September, some 4.8% higher than DPU of 2.92 cents a year ago.

Distributable income for 3Q19 was 9.1% higher at $113.0 million, compared to $103.5 million in 3Q18.

3Q19 gross revenue jumped 17.9% to $201.1 million, from $170.5 million a year ago.

Singapore retail property battles online shopping exodus

SINGAPORE (July 24): Singapore’s malls are showing some resilience to the global hollowing out of physical retail by online shopping. The demographics of the smartphone generation are still against them, though.

Suburban middle-class shopping centers put up a strong show in CapitaLand Mall Trust’s quarterly earnings Tuesday. Their relative outperformance was an overarching theme in the results of Singapore’s biggest mall landlord, which offer a useful three-monthly check on the retail pulse and shifting consumption patterns in the city-state.

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 launching placement of new units to raise $250 mil

SINGAPORE (Oct 25): The manager of CapitaLand Mall Trust (CMT) is planning to launch a private placement of about 122 million new CMT units at an issue price of between $2.049 and $2.097 per unit.

The issue price range of between $2.049 and $2.097 per unit represents a discount of about 2.52% and 4.75% to the volume weighted average price for all trades done on Thursday.

The trust intends to raise gross proceeds of up to $250 million.

After a steady 2Q, will CapitaLand Mall Trust still have room to run?

SINGAPORE (July 23): OCBC Investment Research and CGS-CIMB Securities have downgraded their ratings on CapitaLand Mall Trust (CMT) to “hold” from “buy” and “add” previously after the trust’s 2Q18 results came in line with both research houses’ expectations.

Soft retail market robs CapitaLand Mall Trust of bright spots for now: RHB

SINGAPORE (Oct 24): RHB is maintaining its “neutral” call on CapitaLand Mall Trust (CMT) with an unchanged price target of $2.08 based on a cost of equity (CoE) of -6.9% and terminal growth (TG) of -1.5%.

CMT last week announced a 3Q distribution per unit (DPU) of 2.78 cents, unchanged from a year ago and in line with RHB’s expectations.

See: CapitaLand Mall Trust's 3Q DPU holds steady at 2.78 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.

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.

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