CapitaLand Integrated Commercial Trust (CICT) has reported a gross revenue of $391.3 million for the 3QFY2023 ended September, 4.6% higher y-o-y.
Its net property income (NPI) grew by 0.6% y-o-y to $275.0 million.
For the 9MFY2023, the REIT’s gross revenue rose by 9.8% y-o-y to $1.17 billion while NPI rose by 6.8% y-o-y to $827.3 million.
As at Sept 30, CICT’s portfolio occupancy stood at 97.3%, 0.6 percentage points higher q-o-q.
Portfolio weighted average lease expiry (WALE) stood at 3.5 years.
Rent reversion year-to-date (ytd) ended Sept 30 stood at 7.8% for the REIT’s retail portfolio and at 8.8% for its office portfolio.
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The REIT’s shopper traffic and tenant sales increased on a y-o-y basis for the 9MFY2023. Tenant sales psf continued to surpass the REIT’s 2019 levels while shopper traffic showed a gradual recovery.
Aggregate leverage as at Sept 30 stood at 40.8% while interest coverage stood at 3.1x.
Units in CICT closed 2 cents lower or 1.16% down at $1.70 on Oct 25.
