In a Monday report, analyst Derek Tan says the DPU was in line with the research house’s estimates, while noting a “handsome” revaluation gain of $218.7 million from the trust’s properties compared to six months ago as well as higher portfolio occupancy at the expense of rental reversion.
SINGAPORE (July 24): DBS Vickers is maintaining its “buy” call on CapitaLand Mall Trust (CMT) with an unchanged target price of $2.17 after its manager last Friday reported a 1H17 distribution per unit (DPU) of 5.48 cents, up 0.2% from 5.47 cents in the same period a year ago.
This comes on the back of CMT’s unit price lagging behind both the Singapore REIT (S-REIT) index and Singapore 10-year government bonds this year.
