CapitaLand Integrated Commercial Trust 3Q24 - UOB Kay Hian 2024-11-06: Increasing Dominance Of Singapore’s Retail Scene

CapitaLand Integrated Commercial Trust 3Q24 - Increasing Dominance Of Singapore’s Retail Scene

Published:
CapitaLand Integrated Commercial Trust (SGX:C38U) | SGinvestors.io

Enhancing cost efficiency.

  • - Read this at SGinvestors.io -
  • NPI margin expanded 2.5ppt y-o-y to 72.8% due to cost savings from lower utility expenses and the new property management agreement. Thus, NPI increased 5.4% y-o-y.

Retail: Stronger rental reversion and shopper traffic from downtown malls.

  • The retail portfolio achieved positive rental reversion of 9.2% on an average incoming versus average outgoing basis in 9M24 (suburban: 9.0%, downtown: 9.4%). Occupancy was unchanged at 99.0% in 3Q24, while tenant retention remained healthy at 86.1%. Food & beverage, beauty & health and supermarkets continue to chalk up healthy growth in sales. Shopper traffic recovered 3.7% y-o-y in 9M24 (suburban: 1.9%, downtown: 5.7%).
  • - Read this at SGinvestors.io -

Office: Maintained stable occupancy.

  • 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/.




Jonathan KOH CFA UOB Kay Hian Research | https://research.uobkayhian.com/ 2024-11-06



Previous report by UOB:
2024-10-04 CapitaLand Integrated Commercial Trust - Increasing Dominance Of Singapore’s Retail Scene.

Price targets by 3 other brokers at CapitaLand Integrated Commercial Trust Target Prices.

Listing of research reports at CapitaLand Integrated Commercial Trust Analyst Reports.

Relevant links:
CapitaLand Integrated Commercial Trust Share Price History,
CapitaLand Integrated Commercial Trust Announcements,
CapitaLand Integrated Commercial Trust Dividends & Corporate Actions,
CapitaLand Integrated Commercial Trust News Articles





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