Analysts weigh in on CapitaLand Mall Trust’s second quarter earnings.
Daiwa downgraded CapitaLand Mall Trust to Hold from Outperform, saying the growth outlook appears to be priced in after the unit price jumped this year.
CapitaLand Mall Trust reported Tuesday its 2Q19 net property income rose 10.2 percent on-year to S$133.15 million after the acquisition of Westgate mall.
The Funan mall opened Friday, with pictures suggesting large crowds, after a three-year redevelopment period, CapitaLand and CapitaLand Mall Trust said.
Funan mall reached 95 percent committed occupancy ahead of its opening Friday, CapitaLand and CapitaLand Mall Trust said Tuesday.
The retail component of the Funan, owned by CapitaLand and CapitaLand Mall Trust, is set to re-open on 28 June, two months ahead of schedule.
UOB KayHian upgraded CapitaLand Mall Trust to Buy, calling it a beneficiary of the Jurong Lake District’s development and as Funan is set to begin contributing.
The newly redeveloped Funan mall’s two office towers have reached 98 percent pre-leasing commitment, CapitaMall Trust said in a filing to SGX Wednesday.
CapitaLand Mall Trust can surprise on the upside, with investors likely to apply higher valuations, DBS said after the REIT reported “marvelous growth.”
CapitaLand Mall Trust reported Wednesday its 1Q19 net property income rose 11.5 percent on-year to S$140.10 million. The results beat a forecast from Daiwa.
These are Singapore companies which may be in focus on Friday, 5 April 2019: Hyflux, Frasers Property, CapitaLand Mall Trust and Uni-Asia.
CapitaLand Mall Trust said Thursday it issued US$300 million of 10-year fixed rate notes at 3.609 percent to institutional and/or sophisticated investor(s).
These are Singapore companies which may be in focus on Monday, 18 March 2019: Sembcorp Indutries, Far East Orchard, Singapore Airlines, M1 and OUE.
These are Singapore companies which may be in focus on Tuesday, 12 February 2019: Mapletree Industrial Trust, CapitaLand Mall Trust, M1, Hyflux and Sakae.