The manager of CapitaLand Commercial Trust (CCT) has announced a 0.9% increase in 4Q15 DPU. For FY2015 ended 31 December 2015, the estimated DPU was 8.62 cents, up 1.9%.
Based on CCT’s closing price per unit of $1.365 on Jan 19 and FY2015 DPU, CCT’s distribution yield is 6.3%.
The trust’s distributable income in FY2015 increased 2.1% to $254.5 million ,largely due to higher net property income from CCT’s wholly owned properties and higher distributable income from Raffles City Singapore.
Distributable income for 4Q15 was up 0.8% at $64.1 million.
CCT’s property portfolio committed occupancy rate rose to 97.1% from 96.8% a year ago.
The trust has continued to sign higher rents compared to expiring rents, resulting in an increase in the average monthly office portfolio rent to $8.90 psf as at Dec 31, 2015 from $8.61 psf in the previous year.
According to the manager, only 15% of CCT’s total office net lettable area is expiring in 2016 and it has renewed one-third of this percentage.
The manager says it will continue to limit CCT’s exposure to expiring leases in 2016 and proactively engage tenants so as to maintain a high and above-market committed portfolio occupancy rate.
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Based on CCT’s closing price per unit of $1.365 on Jan 19 and FY2015 DPU, CCT’s distribution yield is 6.3%.
The trust’s distributable income in FY2015 increased 2.1% to $254.5 million ,largely due to higher net property income from CCT’s wholly owned properties and higher distributable income from Raffles City Singapore.
Distributable income for 4Q15 was up 0.8% at $64.1 million.
CCT’s property portfolio committed occupancy rate rose to 97.1% from 96.8% a year ago.
The trust has continued to sign higher rents compared to expiring rents, resulting in an increase in the average monthly office portfolio rent to $8.90 psf as at Dec 31, 2015 from $8.61 psf in the previous year.
According to the manager, only 15% of CCT’s total office net lettable area is expiring in 2016 and it has renewed one-third of this percentage.
The manager says it will continue to limit CCT’s exposure to expiring leases in 2016 and proactively engage tenants so as to maintain a high and above-market committed portfolio occupancy rate.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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