CapitaLand Integrated Commercial Trust Seems on Track to Deliver on Distribution Growth
Dow Jones15:27
0727 GMT - CapitaLand Integrated Commercial Trust appears on track to deliver Jefferies' estimated 4% distribution per unit growth this year, say analysts Wilson Ng and Geraldine Wong, citing the real-estate investment trust's strong operational figures for the nine months ended September. The REIT posted robust net property income growth and lower borrowing costs for the nine months, they say in a note. Growth could accelerate next year, they add, given office rental rate increases seem to be tracking ahead of the REIT manager's guidance and a benign borrowing-cost outlook. Jefferies retains its buy rating and 2.60 Singapore dollar target price. Units rise 1.8% to S$2.30.
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