- CapitaLand Investment (SGX:9CI) reported an in-line quarter with revenue of S$704m which was stable on a y-o-y basis and made up 22% of our full-year estimates. Its funds fee rate for its funds management business for 1Q24 was 45bp and largely in line with the 46bp seen in 2023.
An in-line quarter in our view.
On track for capital recycling target.
- - Read this at SGinvestors.io -
- In particular, CapitaLand Investment mentioned that it has a number of projects that it expects to close in the next few months and thus the market should expect newsflow in 2Q24 and 3Q24, especially for some of its China assets as well as its US multifamily portfolio.
- - Read this at SGinvestors.io -
Key highlights were commercial and lodging management, with 1Q24 revenue up 18% y-o-y and 8% y-o-y respectively.
- Read more at SGinvestors.io.
Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
Adrian LOH UOB Kay Hian Research | https://research.uobkayhian.com/ 2024-04-29
Read also UOB's most recent report:
2024-11-07 CapitaLand Investment - Executing Well Operationally But Cautious On 2025.
Previous report by UOB:
2024-08-15 CapitaLand Investment - A Slight Miss For 1H24.
Price targets by 3 other brokers at CapitaLand Investment Target Prices.
Listing of research reports at CapitaLand Investment Analyst Reports.
Relevant links:
CapitaLand Investment Share Price History,
CapitaLand Investment Announcements,
CapitaLand Investment Dividends & Corporate Actions,
CapitaLand Investment News Articles
