CapitaLand Integrated Commercial's Initiatives May Begin Contributing in 2H

Dow Jones
02-10

0331 GMT - CapitaLand Integrated Commercial Trust's asset enhancement initiatives are set to begin contributing in 2H, UOB Kay Hian's Jonathan Koh says in a research report as the brokerage maintains the REIT's buy rating. Phases three and four of the initiatives for the IMM Building in Singapore should finish in 3Q, while some areas of the Gallileo building in Germany are being upgraded and will be progressively handed over to tenant European Central Bank starting 2H, the analyst notes. However, the brokerage lowers its 2025 and 2026 distribution per unit forecasts for the REIT by 4% due to firmer interest rates. It trims the target price to S$2.37 from S$2.59. Units are unchanged at S$1.98. (ronnie.harui@wsj.com)

 

(END) Dow Jones Newswires

February 09, 2025 22:31 ET (03:31 GMT)

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