CapitaLand Integrated Commercial Trust - Looking Forward To An Even Better 2H
CAPITALAND INTEGRATED COMM TR (SGX:C38U)
- CapitaLand Integrated Commercial Trust (SGX:C38U)'s 2H/FY21 DPU are in line, at 49.6%/98.7% of our FY21 forecasts.
- CapitaLand Integrated Commercial Trust’s FY21 retail tenant sales were up 12.2% y-o-y and recovered to 99.8% of FY20 levels (87.8% of FY19) with suburban malls performing better.
- Singapore office committed occupancy stood at 90.4% at end-FY21.
- We tweak down our FY22-23F DPU estimates for CapitaLand Integrated Commercial Trust marginally by 1.37-1.57% post results as well as factor in the impact of S$250m private placement done in Dec 21 and the Miller St and JCube transactions.
- We maintain our DDM-based target price of S$2.57 for CapitaLand Integrated Commercial Trust.
Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.
LOCK Mun Yee CGS-CIMB Research | EING Kar Mei CFA CGS-CIMB Research | https://www.cgs-cimb.com 2022-01-29
SGX Stock
Analyst Report
2.570
SAME
2.570
Read also CGS-CIMB's most recent report:
2022-07-29 CapitaLand Integrated Commercial Trust - Improving Outlook
Target prices by 2 other brokers at CapitaLand Integrated Commercial Trust Target Prices.
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