CapitaLand China Trust 3Q24 Update - DBS Research 2024-10-30: Cloudy, But Likely Priced In

• CapitaLand China Trust reported 3Q24 gross revenue of RMB452.8m (-5.2% y-o-y) and NPI of RMB298.9m (-5.4% y-o-y). The top line revenue decline was attributed to lower occupancy and rents from the new economy segments, and absence of contribution from divested malls Shuangjing Mall and Qibao.
• - Read this at SGinvestors.io -

3Q24 Operational Update – trailing behind expectations.

Retail

• Retail occupancy saw a marginal 10 bps improvement q-o-q to 97.9%. CapitaLand China Trust’s retail segment saw a 2.9% y-o-y (9M24) increase in operating net property income on a same-store basis, uplifted by stronger shopper traffic (9M24: +10.1% y-o-y) and tenant sales (9M24: +2.4% y-o-y) post AEI completions. Retail reversions were marginally negative <-1% on a year-to-date basis.

Business park

• - Read this at SGinvestors.io -

Logistics

• Read more at SGinvestors.io.

Above is an excerpt from a report by DBS Group Research.
Clients of DBS may access the full PDF report @ https://www.dbs.com/insightsdirect/.

Read also DBS's most recent report:
2025-02-07 CapitaLand China Trust - Riding Out The Storm.

Price targets by other brokers at CapitaLand China Trust Target Prices.

Listing of research reports at CapitaLand China Trust Analyst Reports.

Relevant links:
CapitaLand China Trust Share Price History,
CapitaLand China Trust Announcements,
CapitaLand China Trust Dividend Payout Dates & Corporate Actions,
CapitaLand China Trust News