CapitaLand Integrated Commercial Trust - RHB Research 2025-02-06: Making Steady Progress; BUY

• CapitaLand Integrated Commercial Trust, the largest S-REIT and a direct proxy to Singapore’s economic growth, is one of our sector Top Picks. CapitaLand Integrated Commercial Trust's share price is trading at a ~10% discount to book value.

4Q24 A Strong Quarter

• - Read this at SGinvestors.io -
• - Read this at SGinvestors.io -

Financing costs have stabilised

• Financing costs have stabilised q-o-q at 3.6% pa and we expect this to likely peak at 3.7% levels in 1H25, before tapering off in 2H25. 81% of its debt are on fixed interest rates, with only 10% of its debt due for refinancing later this year.
• CapitaLand Integrated Commercial Trust completed the divestment of 21 Collyer Quay for S$688m in Nov 2024, i.e. at a ~6% premium over its FY23 valuation. The proceeds have been used to repay debt, bringing its gearing down to 38.5% (9M:39.4%).

Portfolio valuations rose 1.4% y-o-y

• Read more at SGinvestors.io.

Above is an excerpt from a report by RHB Securities Research.
Clients of RHB may be the first to access the full PDF report @ https://www.rhbtradesmart.com/.

Read also RHB's most recent report:
2025-04-25 CapitaLand Integrated Commercial Trust - Flight-To-Quality To Continue; BUY.

Price targets by 5 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 Dividend Payout Dates & Corporate Actions,
CapitaLand Integrated Commercial Trust News