2HFY2024 distributable income of $385.7 million, up 6.4% y-o-y, included maiden contributions from its 50% stake in ION Orchard. However, 2HFY2024 distribution per unit (DPU) of 5.45 cents was stable y-o-y, owing to a larger unitholder base following CICT’s equity fundraising in September 2024.
Analysts are maintaining their target prices more than 16% above CapitaLand Integrated Commercial Trust (SGX:C38U
) ’s (CICT) share price after “strong” performance in its FY2024 ended Dec 31, 2024.
CGS International (CGSI) Research analyst Lock Mun Yee has kept her “add” call and $2.45 target price on CICT after the REIT reported 1.2% y-o-y gains in 2HFY2024 revenue to $794.4 million and 1.3% y-o-y gains in 2HFY2024 net property income (NPI) to $571.1 million.
