Stock Name: CapitaComm
Company Name: CAPITACOMMERCIAL TRUST
OCBC Investment Research in a Jan 25 research report says: "CapitaCommercial Trust (CCT) reported a distributable income of $212.8 million for FY2011, down 3.7% y-o-y and in line with our full year forecast of $211.2 million.
"DPU for the full year is 7.52 cents. Topline came in at $361.2 million, again tracking closely to our expectations of $362.7 million. This was down 7.8% y-o-y mostly due to the sale of Robinson Point and StarHub Centre in 2010, the redevelopment of Market St Carpark in 2011.
"As widely anticipated, we saw an inflection point in office rentals over 4Q11 as Grade A office market rents declined by 0.5%. Lower fair value estimate of $1.29, versus $1.41 previously, to reflect lower capitalization rate assumptions. MAINTAIN BUY. "
Company Name: CAPITACOMMERCIAL TRUST
| Research House: OCBC | Price Call: BUY | Target Price: 1.29 |
OCBC Investment Research in a Jan 25 research report says: "CapitaCommercial Trust (CCT) reported a distributable income of $212.8 million for FY2011, down 3.7% y-o-y and in line with our full year forecast of $211.2 million.
"DPU for the full year is 7.52 cents. Topline came in at $361.2 million, again tracking closely to our expectations of $362.7 million. This was down 7.8% y-o-y mostly due to the sale of Robinson Point and StarHub Centre in 2010, the redevelopment of Market St Carpark in 2011.
"As widely anticipated, we saw an inflection point in office rentals over 4Q11 as Grade A office market rents declined by 0.5%. Lower fair value estimate of $1.29, versus $1.41 previously, to reflect lower capitalization rate assumptions. MAINTAIN BUY. "
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