Singapore Stock Market News

Capitacommercial Trust - Back-filling in progress

StockFanatic
Publish date: Mon, 22 Apr 2013, 12:20 AM
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Back-filling should keep CCT busy in 2013 as major tenants depart One George Street and Capital Tower and with income support falling off at One George. CCT's share price could trade range-bound until the overhang from uncertainties is lifted.

1Q13 DPU met our and consensus expectations, forming 25% of our FY13 forecast. We tweak DPUs on occupancy adjustments but keep our DDM-based target price (discount rate 7.3%). Maintain Underperform pending the lifting of uncertainties at One George Street.
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