CapLand IntCom T (C38U) has gained 30% YTD, with future growth potentially limited unless a new catalyst emerges, making it more suitable for income-focused investors。。。
The dividend yield, while historically solid, may have compressed due to the recent price rise, but it remains attractive for long-term income seekers
Growth potential may attract capital appreciation investors, but it is important to assess if further gains are likely after the rally
The REIT remains appealing for dividend-focused investors, while growth investors should consider whether additional gains are possible, with the decision ultimately hinging on the preference for growth potential versus dividend yield
Tag :@Huat99 @Snowwhite
REIT Earnings: CICT Up 30% YTD! Still A Solid Buy?
@Tiger_SG：This week, $Straits Times Index(STI.SI)$ continues to hit new highs, and several REITs reporting earnings have delivered solid results. Let’s take a look at the latest scorecards from these three major players. 1. $CapLand IntCom T(C38U.SI)$ +30.43% YTD CICT continues its steady expansion. Revenue saw mild growth thanks to the August acquisition of the remaining 55% stake in CapitaSpring and the completion of Germany’s Galileo building for the ECB. Both retail and office lease renewals posted positive rental reversions (+6.5% and +7.8%), while vacancy rates fell further — signaling a healthy and resilient portfolio. Revenue: S$403.9M (+1.5% y-o-y) NPI: S$294.4M (+1.6%) Occupancy: 97.2% ｜ WALE: 3.2 years ｜ Leverage: 39.2% 2. $Mapletree Log Tr(M44U.SI)$ +12.44% YTD MLT was the only one among the three to record declines in both revenue and DPU, mainly because last year’s disposal gains did not recur. DPU: 1.815 cents (-10.5% y-o-y) Revenue: S$177.5M (-3.2% y-o-y) NPI: S$153.3M (-3.3%) Occupancy: 96.1% ｜ WALE: 2.7 years ｜ Leverage: 41.1% Earnings were weighed down by regional currency depreciation (HKD, RMB, KRW, etc.) and reduced contribution from asset sales. Still, assets in Singapore, Japan, and Hong Kong performed strongly, partly offsetting forex pressures. On a quarterly basis, DPU inched up 0.2%. 📈 JPMorgan upgraded MLT to “Overweight” on stabilizing operations. $Kep Infra Tr(A7RU.SI)$ +10.01% YTD DPU: S$168.9M (+59.2% y-o-y) (+13% excluding divestment gains) Net Gearing: 38% ｜ Interest Coverage: 13.1x ｜ Debt Maturity: 3.1 years Distribution income surged nearly 60%, driven by stronger contributions from City Energy, Ixom, and Ventura, as well as one-off divestment gains. Even excluding asset sales, core business income rose double digits. The energy transition segment was pressured by wind project volatility, but chemical distribution and city energy businesses remained robust. The environmental segment fell 36.5% y-o-y, mainly due to lower contributions from Singapore’s incineration and water assets. 💬 Discussion: MLT’s logistics network remains resilient despite currency headwinds. CICT solidifies its dominance in retail and office, with rental growth picking up pace. KIT surged on diversified exposure and portfolio optimization. 👉 Which one would you pick? Dividend yield or growth potential — which matters more to you? With CICT up more than 30% YTD, outperforming many individual stocks — is it still a buy? REWARDS All valid comments will receive 5 Tiger Coins (5-50 coins; depend on comment quality) Tag your friends to win another 5 Tiger Coins Join our topic and post directly or leave your comments to win tiger coins~ Plus, you can stand a chance to get 100 tiger coins & $5 stock vouchers. ————— Open a CBA today and enjoy access to a trading limit of up to SGD 20,000 with upcoming 0-commission, unlimited trading on SG, HK, and US stocks, as well as ETFs. Find out more here. Other helpful links: 💰Join the TB Contra Telegram Group to Get $10 Trading Vouchers Now🎉 How to open a CBA. How to link your CDP account. Other FAQs on CBA. Cash Boost Account Website.
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