CapitaLand Integrated Commercial Trust to Have Stronger Rental Reversions -- Market Talk

Dow Jones04-22

0321 GMT - CapitaLand Integrated Commercial Trust is likely to have stronger Singapore portfolio rent reversions, RHB Research analyst Vijay Natarajan says in a report, citingmanagement's comments of robust office and retail demand amid a healthy economic recovery. Rental reversion occurs when leases are renewed at new rental rates. The REIT's office rental reversions were stronger at 14% during 1Q, although occupancy "dipped slightly" due to a tenant's exit at one of its properties, he says. Meanwhile, the REIT's retail portfolio saw a slight increase in occupancy, "with healthy 7% rent reversions" across its suburban and downtown malls, the analyst says. RHB maintains a buy rating on the REIT with a target price of S$2.20. Units were last flat at S$1.88.(amanda.lee@wsj.com)

(END) Dow Jones Newswires

April 21, 2024 23:21 ET (03:21 GMT)

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The REIT's office rental reversions were stronger at 14% during 1Q, although occupancy \"dipped slightly\" due to a tenant's exit at one of its properties, he says. Meanwhile, the REIT's retail portfolio saw a slight increase in occupancy, \"with healthy 7% rent reversions\" across its suburban and downtown malls, the analyst says. RHB maintains a buy rating on the REIT with a target price of S$2.20. 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